Author: Eamonn Sheridan

The Wall Street Journal reports that Kevin Warsh met with Vice President Pence the same day Donald Trump interviewed Janet Yellen about the position

If you aren't completely over this ****in' saga already (you can probably guess how I am feeling about the whole ***in' thing :-D ) here is more:
  • WSJ cite "according to a White House aide"
  • Pence has been part of a small group of senior White House officials who have been vetting candidates
  • Warsh is a former Morgan Stanley executive who served on the Fed board from 2006 to 2011
  • He and Mr. Taylor are favorites among some Republicans in Congress
  • Advocates say Mr. Warsh would tolerate the faster economic growth Mr. Trump has promised to achieve through tax cuts and looser regulation without raising rates too quickly, though as a Fed governor after the financial crisis he argued against easy-money policies that were meant support growth.
Link for even MOAR (its the Journal, so may be gated): Warsh Met With Vice President Pence About Top Fed Job Last Week
A pic of Pence (and the big guy!) instead of a pic of Warsh.


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Author: Eamonn Sheridan
2

Italian fin min says growth can get as high as 2%

Italian finance minister Padoan speaking on Bloomberg TV - Says economic growth in Italy can go up to 2% - On a personal note he adds that is out of the question he becomes governor of the central bank (Bank of Italy) (so he's running?)

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Author: Eamonn Sheridan

Two banks weigh in on where to for the Australian dollar today

Via a couple of morning notes, some thoughts on AUD/USD ... agree, disagree, BRB - going to the pub? CBA: WPAC: -- ps. Yes, there is Australian inflation data tomorrow - I stuck up a couple of previews already if anyone is interested:

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Author: Eamonn Sheridan
2

Did you hear the one about the PBOC governor and his Minsky?

Last week  People's Bank of China Governor Zhou Xiaochuan warned that China faced a "Minsky moment" If you are keeping track of all the times China has faced a Minsky moment, be sure to add this to the list. I've lost count of the number of times I've heard this, I guess I should have kept a better list. My bad.

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Author: Greg Michalowski
5

All major stock indices end the day in the red today

Nasdaq the hardest hit The major stock indices are ending the session in the red, after giving up earlier gains. Tomorrow starts the major earnings releases. Thursday is shaping up to be a key day for high flyers with Amazon, Alphabet (Google), and Microsoft all scheduled to release.  

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Author: Adam Button

ForexLive Americas FX news wrap: Risk aversion hits late

Forex news for New York trade on October 23, 2017 Markets: - S&P 500 down 10 points to 2565 - Gold up $2 to $1282 - US 10-year yields down 1.4 bps to 2.37% If you were hoping to ease into a busy week, Monday was the day for you. The ranges were narrower than the recent parameters with most pairs trading inside of 50 pips.

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Author: Eamonn Sheridan

Economic data due from Asia today (m'eh)

Australian weekly consumer sentiment due at 2230 GMT - for the week ended October 22 - the number is not usually an immediate market mover - prior 112.4 Japan manufacturing PMI (flash reading) due at 0030 GMT (also unlikely to be too much of an immediate market mover, but there may be a little wiggle on it)

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Author: Greg Michalowski

USDJPY cracks below the weekend gap and scoots lower

Stocks close near session lows.   The USDJPY fell below the lows for the day, filled the gap from Friday at 113.56 and scooted down to a low of 113.238.  The pair stalled between the 113.19-25 area. That is the swing levels from Sept 27, 28 and October 3rd. On Friday, the market based near the level (red circle 4) before moving up to the high at 114.09 today. The 38.2% of the move up from last week's low comes in at 113.158. That too is in this area.   

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Author: Greg Michalowski
7

Is buying NZDJPY smart technically?

Citi trade of the week with a target of 80.75, and a stop of 78.00.  What does it look like technically from my persepctive? Adam points out that CitiFX trade of the week is to 

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Author: Adam Button

Why anyone but Yellen is bullish for the US dollar

The Fed chair has one job left Sometime this week we will likely find out who will be the next Federal Reserve chair. Expect a big kneejerk reaction, especially if Taylor or Warsh is tapped to lead the Fed.

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Author: Adam Button
34

USD/JPY preserves the gap, but it's hardly running away

USD/JPY is a mixed picture USD/JPY opened 30 pips higher in a gap to the upside and to the highest levels since July. Initially, the rally extended to 114.10 but it's since slipped back to 113.68.

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Author: Greg Michalowski

US crude oil futures settle at $51.90

up $0.06 or 0.12% The price of the most active WTI crude oil contract is ending the day up $0.06 at $51.90.  The high reached $52.30. The low fell to $51.68.

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Author: Adam Button
10

Citi trade of the week: Buy NZD/JPY

The latest trade idea from Citi Currency investors should consider buying NZD/JPY this week, advises CitiFX Research in its weekly FX pick.  Citi recommends buying NZD/JPY around 79.08 with a target of 80.75, and a stop of 78.00

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Author: Greg Michalowski

EURUSD extends the days trading range.

Moves further away from the 100 bar MA on 4-hour chart The EURUSD has made new lows for the day and in the process, has taken out the low from last week. The 1.1716-20 area is a swing level, that was broken on October 3rd and again on Oct 5th (into October 6th) before rebounding (see red numbered circles).

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Author: Adam Button
4

The media is slowly tearing-down every Fed chair choice

Pundits doing punditry Four years ago, there was a race between Janet Yellen and Larry Summers to head the Federal Reserve. If you read the commentary at the time, it was hawk (Summers) vs dove (Yellen). In addition, every detail of Summers' long public life was rehashed. Every slip-up, every mistake was dissected.

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Author: Greg Michalowski

GBPUSD touches MAs and backs off a little

A live wire at the 1.32122-149. The GBPUSD just moved up to 1.32126. The 100 bar MA on the 4-hour chart is at 1.3213. The 200 hour MA is at 1.32149. The 50% of the move down from the October 13 high comes in at 1.32122.

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Author: Greg Michalowski
1

Forex technical analysis: USDCAD reaches 100 day MA. Is that it?

It is key level this week with the BOC ahead. The Bank of Canada meets this week (decision on Wednesday at 10 AM ET). There is a 17% probability of a hike.  That goes up to 42% in December.  Friday, there was a blow to the hike idea when the retail sales and CPI came out weaker than expectations.  

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Author: Adam Button
5

Look for 800 pip range in EUR/USD after ECB and Fed chair decisions - BTMU

BTMU on the big decisions coming this week For the second consecutive week, BTMU FX Strategy Research is neutral on EUR/USD around current levels, while allowing a wide range of 1.14-1.22 in the near-term to reflect heightened uncertainty ahead of ECB policy announcements, and Fed Chair's pick.

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Author: Adam Button
6

Trump may find that his NAFTA enemies are mounting

Opposition inside and outside the US Executives are increasingly concerned that Trump may tear up NAFTA and they're getting ready. Corporate leaders are banding together to tell Trump that their supply chains depend on predictability from NAFTA.

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