BTC had a good weekend and its extending its gain, currently just above USD51,000
A glance at the chart shows a few tops just over 51K. Anyone gonna stand in front of this train and short it?
Forexlive Latest News
Sun 7 Mar 2021 23:20:00 GMT
Currencies are higher against the USD after weekend US (more) stimulus news
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The US dollar is lower, as is yen, on the flows to 'risk' following the news out of the US over the weekend:
The bill will be voted on Tuesday in the House of Representatives where it is expected to pass easily.
Sun 7 Mar 2021 23:03:43 GMT
Oil prices have moved higher following the attacks on Saudi facilities on the weekend
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Brent has popped above $70 / bbl. The news ICYMI:
The Brent move above 70 is its highest since January of 2019.
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Elsewhere, US equity index futures are higher also following the weekend US stimulus news:
Sun 7 Mar 2021 22:59:17 GMT
Morgan Stanley says US economy is on fire, the recession ... 'its over'
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A snippet from a MS Sunday client note
Morgan Stanley cite:
And say:
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Bond markets have been saying this for weeks, yep.
Sun 7 Mar 2021 22:19:31 GMT
PIMCO says developed economies may require stimulus for longer than expected (because China)
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Pacific Investment Management Company (PIMCO) is a US firm that manages circa US$1.9 trillion in assets.
- The People's Bank of China have announced it has begun to reduce coronavirus-related stimulus early
Sun 7 Mar 2021 22:17:19 GMT
PIMCO says developed economies may require stimulus for longer than currently appreciated because of China winding back stimulus
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Pacific Investment Management Company (PIMCO) is a US firm that manages circa US$1.9 trillion in assets.
The firm have a publicly available piece posted in which they argue:
Sun 7 Mar 2021 21:56:44 GMT
Trade ideas thread - Monday 8 March 2021
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Trade ideas thread - Monday 8 March 2021
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Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
Sun 7 Mar 2021 21:27:59 GMT
Oil traders note - Saudi oil export ports, facilities targeted in attacks Sunday
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Saudi Arabia says ports and other facilities have been targeted by drones and missile strikes but has assured that damage is minimal.
A spokesman at the Ministry of Energy said
Sun 7 Mar 2021 21:02:36 GMT
Here is what’s on the economic calendar in Asia today - Monday 8 March 2021
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China's trade balance for January and February (combined) was out over the weekend, export and import beats here:
On the calendar here today:
Later from Japan, 0500 GMT, there are data for the leading index and the 'economy watchers' survey.
Sun 7 Mar 2021 20:03:43 GMT
Monday morning open levels - indicative forex prices - 8 March 2021
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Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week!
- EUR/USD 1.1915
- USD/JPY 108.38
- GBP/USD 1.3831
- USD/CHF 0.9297
Sat 6 Mar 2021 22:02:44 GMT
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US Senate passes $1.9 trillion stimulus bill
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Huge spending bill passes 50-49
The US Senate passed Biden's $1.9 trillion stimulus package with a number of amendments after a marathon session. The bill now heads back to the House where a vote will be held on Tuesday. It could be signed into law shortly afterwards.
Sat 6 Mar 2021 13:48:16 GMT
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A Fed hike is fully priced in for December 2022
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What does it mean?
The eurodollar curve has fully priced in an FOMC interest rate hike in December 2022.
That's in stark contrast to Fed forecasts and messaging so one side has to be wrong. Normally that would be the Fed but maybe the rules of the game have changed.
Fri 5 Mar 2021 21:12:46 GMT
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ForexLive Americas FX wrap: Strong jobs report sparks a wild ride
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Forex news for New York trade on March 5, 2021:
Markets:
- US 10-year yields down 4 bps to 1.55%
- Gold up $1 to $1698
- WTI crude up $2.44 to $66.27
- S&P 500 up 73 points to 3841
Non-farm payrolls delivered yet another whipsaw to short-term traders. It's clear that the playbook going in was to sell risk, sell bonds and buy the US dollar on a strong report. When it came in very strong that's just what happened.
Fri 5 Mar 2021 21:06:11 GMT
Major indices have another wild ride in trading today
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Major indices close near highs for the day
The major indices are all closing higher and near their session highs after earlier falls were erased.
Fri 5 Mar 2021 20:40:43 GMT
CFTC Commitments of Traders: EUR long position trimmed. GBP longs is the largest since April 2018
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Weekly forex futures positioning data for the CFTC for the week ending Tuesday, March 2, 2021
Highlights:
Fri 5 Mar 2021 20:26:54 GMT
Fed's Bostic: Monetary stance is appropriate
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Comments from the Atlanta Fed President:
There's no hint of doing anything differently.
Fri 5 Mar 2021 20:03:30 GMT
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US January consumer credit -$1.31B vs +$12.0B expected
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US consumer credit outstanding for January 2021
It's rare to see credit tighten but revolving credit (which is credit cards) likely fell as people used stimulus payments to pay off credit card bills.
Fri 5 Mar 2021 19:46:25 GMT
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Treasury auctions highlight the US economic calendar next week
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What's on the economic calendar
I've covered the bond market for 15 years and I can't remember a Treasury auction that's as highly anticipated as next week's.
Fri 5 Mar 2021 19:34:09 GMT
Crude oil closes the week with solid gains
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WTI crude oil settles at $66.09
Looking at the daily charts, the high price extended above the high from January 2020 (on a continuous active contract chart) at $65.65, but stalled just ahead of the 2019 high price at $66.60.. Getting above the 2019 high is needed to solicit more buying. Having said that there is good reason for traders to lean against the level as risk can be defined and limited.
Fri 5 Mar 2021 19:16:49 GMT
Bitcoin continues to follow the clues from the hourly MAs
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Sellers lean against 100 hour MA now
Looking at the hourly chart of bitcoin on the Coinbase exchange is showing up and down price action, but also some respect to the 100 hour MA.
Fri 5 Mar 2021 18:42:40 GMT
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White House: Minimum wage increase remains a priority for Biden
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Bill to increase the minimum wage failed in the Senate
Today 5-6 Senate Democrats joined with Republicans to defeat a bill to raise the minimum wage to $15/hour.
Fri 5 Mar 2021 18:25:32 GMT
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Head spinning yet? Stocks jump again, hit session highs
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Back and forth
It's been wild ride in equities today but with Treasury yields negative across the board, the stock market is cheering.
The S&P 500 is up 41 points to 3808, which is 75 points from the intraday low.
Fri 5 Mar 2021 18:07:15 GMT
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Bullard: Don't see operation twist as an option now
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More from Bullard
This guy never quits. A few hours to the blackout period and he's out there talking away. Not being able to talk to the media for two weeks during the blackout must kill him.
Fri 5 Mar 2021 18:03:28 GMT
Baker Hughes US oil rig count 310 vs 311 expected
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Weekly oil drilling data from Baker Hughes
The message from so many oil companies is that they need to use free cash flow to pay down debt. Very few are trying to raise production.
Fri 5 Mar 2021 17:50:34 GMT
Biden, Von Der Leyen: Agreed to suspend aircraft – dispute tariffs
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Cleaning the slate on tariffs
Pres. Biden and EU Von Der Leyen spoke today and:
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