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.
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.
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:
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:
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
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
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:
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:
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:
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:
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
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
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.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.