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4

BBC reports that SNP and allies will have a majority

BBC reports that SNP and allies will have a majority
Sterling could come under pressure when markets reopen with Scottish pro-independence parties taking a majority. It's close, but the BBC now forecasts that they have enough votes.

The Scottish National Party itself is seen falling just short but with the support of the pro-independence Green Party, they will have a majority on that issue. The final key seat was Aberdeenshire West but that has just been called for Conservatives. Without that, the SNP doesn't have a reasonable chance of a majority.

The question is whether they will be able to hold another referendum. I would bet they don't but we're going to be hearing plenty about it over the next few years.

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Fri 7 May 2021 20:05:24 GMT

2

Dow and S&P close at record levels

Major indices all close higher The final closing levels are showing: For the trading week, the NASDAQ index declined while the Dow and S&P both rose.

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Dow and S&P close at record levels


Greg Michalowski
Fri 7 May 2021 20:05:24 GMT
Category: Technical Analysis
2


Major indices all close higher The final closing levels are showing: For the trading week, the NASDAQ index declined while the Dow and S&P both rose.

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Fri 7 May 2021 20:05:14 GMT

1

ForexLive Americas FX news wrap: Jobs miss sparks a wild ride

Forex news for New York trade on May 7, 2021: Markets: The non-farm payrolls report certainly made for an interesting trading day and the repercussions of the shockingly-soft report will continue to reverberate.

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ForexLive Americas FX news wrap: Jobs miss sparks a wild ride


//az705044.vo.msecnd.net/20210507/2021-05-07_16-13-43.png Adam Button
Fri 7 May 2021 20:05:14 GMT
Author: Adam Button
Category: News
1
Forex news for New York trade on May 7, 2021: Markets: The non-farm payrolls report certainly made for an interesting trading day and the repercussions of the shockingly-soft report will continue to reverberate.

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Fri 7 May 2021 19:42:04 GMT

CFTC commitments of traders: The loonie longs increased by 10K in the current week

Weekly forex futures positioning data from the CFTC for the week ending May 4, 2021 - EUR long 85K vs 81K long last week. Longs increased by 4K - GBP long 20K vs 29K long last week. Longs trimmed by 9K

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CFTC commitments of traders: The loonie longs increased by 10K in the current week


Greg Michalowski
Fri 7 May 2021 19:42:04 GMT
Category: Technical Analysis
0
Weekly forex futures positioning data from the CFTC for the week ending May 4, 2021 - EUR long 85K vs 81K long last week. Longs increased by 4K - GBP long 20K vs 29K long last week. Longs trimmed by 9K

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Fri 7 May 2021 19:27:17 GMT

US dollar moves to new lows vs some of the major currencies as the day moves toward the close

New lows vs EUR, GBP, CHF The USD is moving to new lows vs some of the major currencies. More specifically, the dollar is trading at new lows vs the EUR, GBP and CHF. 

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US dollar moves to new lows vs some of the major currencies as the day moves toward the close


//az705044.vo.msecnd.net/20210507/snag_39705786.png Greg Michalowski
Fri 7 May 2021 19:27:17 GMT
Category: Technical Analysis
0
New lows vs EUR, GBP, CHF The USD is moving to new lows vs some of the major currencies. More specifically, the dollar is trading at new lows vs the EUR, GBP and CHF. 

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Fri 7 May 2021 19:17:11 GMT

Major earnings releases next week

A number of newer issues will be reporting next week as a number of newer issues reporting. Along with some old standbys including Marriott, Toyota, Wendy's, Disney, and Honda.

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Major earnings releases next week


Greg Michalowski
Fri 7 May 2021 19:17:11 GMT
Category: News
0
A number of newer issues will be reporting next week as a number of newer issues reporting. Along with some old standbys including Marriott, Toyota, Wendy's, Disney, and Honda.

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Fri 7 May 2021 19:01:09 GMT

US consumer credit for March $25.841 billion billion versus $20 billion estimate

Consumer credit for March 2021 - revised to $26.13 billion from $27.57 billion. Last month surged by the most since late 2017 - revolving credit +$6.4 billion to $0.980 trillion Revolving credit includes credit cards. Nonrevolving credit includes auto and school loans. The gain this month was most since June as demand for cars has been a strong despite the supply constraints due to global semiconductor shortage.

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US consumer credit for March $25.841 billion billion versus $20 billion estimate


//az705044.vo.msecnd.net/20210507/2021-05-07_12-05-21.jpg Greg Michalowski
Fri 7 May 2021 19:01:09 GMT
Category: News
0
Consumer credit for March 2021 - revised to $26.13 billion from $27.57 billion. Last month surged by the most since late 2017 - revolving credit +$6.4 billion to $0.980 trillion Revolving credit includes credit cards. Nonrevolving credit includes auto and school loans. The gain this month was most since June as demand for cars has been a strong despite the supply constraints due to global semiconductor shortage.

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Fri 7 May 2021 18:37:54 GMT

USDCHF trades to the lowest level since Feb 23

Price is back below the 100/200 day MA The USDCHF has moved lower with the dollar selling today and in the process has moved below and away from both the 100 and 200 day moving averages. Those moving averages come in at 0.9073 and 0.9084. The price has has trended down to a low of 0.9077.

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USDCHF trades to the lowest level since Feb 23


//az705044.vo.msecnd.net/20210507/2021-05-07_11-42-49.jpg Greg Michalowski
Fri 7 May 2021 18:37:54 GMT
Category: Technical Analysis
0
Price is back below the 100/200 day MA The USDCHF has moved lower with the dollar selling today and in the process has moved below and away from both the 100 and 200 day moving averages. Those moving averages come in at 0.9073 and 0.9084. The price has has trended down to a low of 0.9077.

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Fri 7 May 2021 18:36:31 GMT

Oil finishes out the week just below $65 per barrel

Oil settles up $0.19 to $64.90 per barrel The intraday high for the week was $66.76 on Wednesday and the high settlement was $65.63. Crude is flirting with the March highs but there's a big weekend risk with Iran discussions in Vienna, something .

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Oil finishes out the week just below $65 per barrel


//az705044.vo.msecnd.net/20210507/wti-daily-may.png Adam Button
Fri 7 May 2021 18:36:31 GMT
Author: Adam Button
Category: News
0
Oil settles up $0.19 to $64.90 per barrel The intraday high for the week was $66.76 on Wednesday and the high settlement was $65.63. Crude is flirting with the March highs but there's a big weekend risk with Iran discussions in Vienna, something .

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Fri 7 May 2021 18:23:20 GMT

1

Australian dollar longs were the best trade this week

AUD/USD climbs 1.63% on the week The US dollar is down after today's non-farm payrolls report but that only continued the selling trend this week. The Australian dollar, kiwi and surprising Swiss franc were at the top of the FX chart, followed by GBP, EUR, CAD and JPY.

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Australian dollar longs were the best trade this week


//az705044.vo.msecnd.net/20210507/audusd-weekly.png Adam Button
Fri 7 May 2021 18:23:20 GMT
Author: Adam Button
Category: News
1
AUD/USD climbs 1.63% on the week The US dollar is down after today's non-farm payrolls report but that only continued the selling trend this week. The Australian dollar, kiwi and surprising Swiss franc were at the top of the FX chart, followed by GBP, EUR, CAD and JPY.

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Fri 7 May 2021 17:48:32 GMT

3

Extracting FX signals from option flows - BofA

What does option positioning tell us Bank of America Global Research tracks how option investors have traded so far in 2021. " check out eFX Plus

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Extracting FX signals from option flows - BofA


//az705044.vo.msecnd.net/20210507/2021-05-07_13-47-45.png Adam Button
Fri 7 May 2021 17:48:32 GMT
Author: Adam Button
Category: News
3
What does option positioning tell us Bank of America Global Research tracks how option investors have traded so far in 2021. " check out eFX Plus

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Fri 7 May 2021 17:30:40 GMT

1

10 year yield back into positive territory

Retraces most of the declines Technically, the 50% of the move down from the April high comes in at 1.585%. The following 100 hour moving average comes in a 1.589%. The yield last traded above its 100 hour moving average on May 3.

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10 year yield back into positive territory


//az705044.vo.msecnd.net/20210507/2021-05-07_10-26-08.jpg Greg Michalowski
Fri 7 May 2021 17:30:40 GMT
Category: Technical Analysis
1
Retraces most of the declines Technically, the 50% of the move down from the April high comes in at 1.585%. The following 100 hour moving average comes in a 1.589%. The yield last traded above its 100 hour moving average on May 3.

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Fri 7 May 2021 17:02:00 GMT

Baker Hughes oil rig count for the current week shows oil rigs up to 344 from 342

Baker Hughes rig count for the current week. - oil rig count 344 versus 342 last month - gas rig count 103 versus 96 last week - total rig count 448 versus 440 last week the price of crude oil has rebounded off lows at $63.90 today. The price is currently up $0.24 or 0.37% at $64.95. The high price reached $65.24.

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Baker Hughes oil rig count for the current week shows oil rigs up to 344 from 342


//az705044.vo.msecnd.net/20210507/2021-05-07_10-04-00.jpg Greg Michalowski
Fri 7 May 2021 17:02:00 GMT
Category: News
0
Baker Hughes rig count for the current week. - oil rig count 344 versus 342 last month - gas rig count 103 versus 96 last week - total rig count 448 versus 440 last week the price of crude oil has rebounded off lows at $63.90 today. The price is currently up $0.24 or 0.37% at $64.95. The high price reached $65.24.

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Fri 7 May 2021 16:34:11 GMT

1

Treas Sec. Yellen: April jobs report underscores the long climb back to US

Treasury Secretary Yellen speaking at the White House Comments are positive on the economy as you would expect.  The administration is not buying the notion that workers are choosing not to go back to work but instead prefer to stay home and collect benefits.  

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Treas Sec. Yellen: April jobs report underscores the long climb back to US


Greg Michalowski
Fri 7 May 2021 16:34:11 GMT
Category: News
1
Treasury Secretary Yellen speaking at the White House Comments are positive on the economy as you would expect.  The administration is not buying the notion that workers are choosing not to go back to work but instead prefer to stay home and collect benefits.  

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Fri 7 May 2021 16:22:39 GMT

1

EURUSD trades to new highs for the day

New highs as London/European traders look to exit The EURUSD is trading to a new session highs and in the process has broken above the April high of 1.2149 and trades the highest level since February 26. The next targets comes at 1.2169 and 1.2189. 

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EURUSD trades to new highs for the day


//az705044.vo.msecnd.net/20210507/2021-05-07_9-01-59.jpg Greg Michalowski
Fri 7 May 2021 16:22:39 GMT
Category: Technical Analysis
1
New highs as London/European traders look to exit The EURUSD is trading to a new session highs and in the process has broken above the April high of 1.2149 and trades the highest level since February 26. The next targets comes at 1.2169 and 1.2189. 

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Fri 7 May 2021 16:05:08 GMT

4

Biden: The jobs report shows the economy is not overheating

Comments from the President: This is nothing new. Everyone has their new talking points but the plans remain the same.

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Biden: The jobs report shows the economy is not overheating


//az705044.vo.msecnd.net/20210507/biden.png Adam Button
Fri 7 May 2021 16:05:08 GMT
Author: Adam Button
Category: News
4
Comments from the President: This is nothing new. Everyone has their new talking points but the plans remain the same.

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Fri 7 May 2021 15:48:27 GMT

7

US dollar selling continues to intensify

Dollar falls further Dollar selling has intensified across the board with the euro now up 100 pips to 1.2161 and AUD/USD soaring 76 points to 0.7858. The takeaway is that the Fed will stay lower for longer because of one bad non-farm payrolls report. I'm not sure I buy into that thinking but this has quickly turned into a big move.

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US dollar selling continues to intensify


//az705044.vo.msecnd.net/20210507/audusd-may-7.png Adam Button
Fri 7 May 2021 15:48:27 GMT
Author: Adam Button
Category: News
7
Dollar falls further Dollar selling has intensified across the board with the euro now up 100 pips to 1.2161 and AUD/USD soaring 76 points to 0.7858. The takeaway is that the Fed will stay lower for longer because of one bad non-farm payrolls report. I'm not sure I buy into that thinking but this has quickly turned into a big move.

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Fri 7 May 2021 15:47:52 GMT

European shares close higher. France's CAC trades closes at a new high going back to 2000

Solid week for the major indices as well The European shares a closing higher with the German DAX rising 1.2% leading the way. The major indices also closed higher for the week.

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European shares close higher. France's CAC trades closes at a new high going back to 2000


//az705044.vo.msecnd.net/20210507/2021-05-07_8-45-21.jpg Greg Michalowski
Fri 7 May 2021 15:47:52 GMT
Category: Technical Analysis
0
Solid week for the major indices as well The European shares a closing higher with the German DAX rising 1.2% leading the way. The major indices also closed higher for the week.

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Fri 7 May 2021 15:16:39 GMT

AUDUSD trades to the highest level since March 18

Swing highs from March at 0.78375 to 0.7848 are targeted now The AUDUSD is at a new high going back to March. The swing highs in March came in at 0.78375 and 0.78487 on March 3 and March 18 respectively.  The high price just reached 0.78446.  A move above the March high at 0.78487 should solicit more buying. 

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AUDUSD trades to the highest level since March 18


//az705044.vo.msecnd.net/20210507/2021-05-07_8-13-51.jpg Greg Michalowski
Fri 7 May 2021 15:16:39 GMT
Category: Technical Analysis
0
Swing highs from March at 0.78375 to 0.7848 are targeted now The AUDUSD is at a new high going back to March. The swing highs in March came in at 0.78375 and 0.78487 on March 3 and March 18 respectively.  The high price just reached 0.78446.  A move above the March high at 0.78487 should solicit more buying. 

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Fri 7 May 2021 15:13:42 GMT

3

Iran nuclear talks will continue this weekend and they're a big risk for oil

A deal is a risk for oil There are positive indications on an Iran nuclear deal, something that could add 2 million barrels per day to global oil supply. A fourth round of negotiations began today in Vienna and both sides sound optimistic.

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Iran nuclear talks will continue this weekend and they're a big risk for oil


//az705044.vo.msecnd.net/20210507/iran-nuclear-deal.png Adam Button
Fri 7 May 2021 15:13:42 GMT
Author: Adam Button
Category: News
3
A deal is a risk for oil There are positive indications on an Iran nuclear deal, something that could add 2 million barrels per day to global oil supply. A fourth round of negotiations began today in Vienna and both sides sound optimistic.

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Fri 7 May 2021 14:42:12 GMT

USDJPY stays below the prior lows from the current week. Floor is now a ceiling.

The low after the jobs report, stalled at the 61.8% retracement level The USDJPY initially moved sharply lower after the jobs report, and found support buyers near the 61.8% retracement of the move up from the April 23 low. That level comes in at 108.32.

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USDJPY stays below the prior lows from the current week. Floor is now a ceiling.


//az705044.vo.msecnd.net/20210507/2021-05-07_7-32-11aaa.jpg Greg Michalowski
Fri 7 May 2021 14:42:12 GMT
Category: Technical Analysis
0
The low after the jobs report, stalled at the 61.8% retracement level The USDJPY initially moved sharply lower after the jobs report, and found support buyers near the 61.8% retracement of the move up from the April 23 low. That level comes in at 108.32.

Asset 24 View More
Fri 7 May 2021 14:38:13 GMT

Why the US dollar is slumping again

USD near session lows The non-farm payrolls rollercoaster never disappoints. The US dollar is coming under some fresh selling pressure as equities hit fresh highs. The bond market is seeing a front-end led bull steepener.

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Why the US dollar is slumping again


//az705044.vo.msecnd.net/20210507/eurusd-10-mins.png Adam Button
Fri 7 May 2021 14:38:13 GMT
Author: Adam Button
Category: News
0
USD near session lows The non-farm payrolls rollercoaster never disappoints. The US dollar is coming under some fresh selling pressure as equities hit fresh highs. The bond market is seeing a front-end led bull steepener.

Asset 24 View More
Fri 7 May 2021 14:25:07 GMT

S&P and Dow trade at new record highs

Nasdaq trades to session highs The new all-time high for the S&P is up at 4235.47.  That took out the previous all-time high  at 4216.10. The Dow took out the high reached yesterday at 34561 area.  

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S&P and Dow trade at new record highs


//az705044.vo.msecnd.net/20210507/2021-05-07_7-23-20.jpg Greg Michalowski
Fri 7 May 2021 14:25:07 GMT
Category: Technical Analysis
0
Nasdaq trades to session highs The new all-time high for the S&P is up at 4235.47.  That took out the previous all-time high  at 4216.10. The Dow took out the high reached yesterday at 34561 area.  

Asset 24 View More
Fri 7 May 2021 14:01:31 GMT

US mortgage delinquencies 6.38% for the first quarter

US mortgage delinquencies fall 6.38% - US mortgage delinquencies fell to 6.38% in the first quarter versus 6.73% in the fourth quarter. The high during covid reached 8.22% in the second quarter of 2020. The level is still higher than the prepandemic level at 4.36%.  The housing market has been strong. That, and the recovery, has also helped the delinquency rate (or so it seems). The levels are still higher than pre-pandemic levels as the have's and the have nots are being influenced disproportionately.  If you are out of work, the chances of remaining current on mortgages it becomes more difficult.

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US mortgage delinquencies 6.38% for the first quarter


Greg Michalowski
Fri 7 May 2021 14:01:31 GMT
Category: News
0
US mortgage delinquencies fall 6.38% - US mortgage delinquencies fell to 6.38% in the first quarter versus 6.73% in the fourth quarter. The high during covid reached 8.22% in the second quarter of 2020. The level is still higher than the prepandemic level at 4.36%.  The housing market has been strong. That, and the recovery, has also helped the delinquency rate (or so it seems). The levels are still higher than pre-pandemic levels as the have's and the have nots are being influenced disproportionately.  If you are out of work, the chances of remaining current on mortgages it becomes more difficult.

Asset 24 View More
Fri 7 May 2021 14:00:30 GMT

US wholesale inventories for March (F) 1.3% versus 1.4% preliminary

US wholesale inventories for March 2021 - Wholesale inventories for March (F) 1.3% versus 1.4% estimate. The preliminary report came at 1.4%. February inventories rose 1.0% the inventory to sales ratio the client is the lowest going back to 2014 as sales sop up inventories. The supply chains are certainly an issue in the recovery as manufacturers adjust to post pandemic life.  

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US wholesale inventories for March (F) 1.3% versus 1.4% preliminary


//az705044.vo.msecnd.net/20210507/2021-05-07_7-05-06.jpg Greg Michalowski
Fri 7 May 2021 14:00:30 GMT
Category: News
0
US wholesale inventories for March 2021 - Wholesale inventories for March (F) 1.3% versus 1.4% estimate. The preliminary report came at 1.4%. February inventories rose 1.0% the inventory to sales ratio the client is the lowest going back to 2014 as sales sop up inventories. The supply chains are certainly an issue in the recovery as manufacturers adjust to post pandemic life.  

Asset 24 View More

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