AUG
21

US Open – Stock Rally Resumes, Weak demand for Bunds, Oil rises on API report, Gold steadies, and Bitcoin falls

US Open - Stock Rally Resumes, Weak demand for Bunds, Oil rises on API report, Gold steadies, and Bitcoin falls - MarketPulseMarketPulse

Home/Central Bank Watch/Commodities/Crypto/Currency/Economic Exposure/USD/Yield and Indices

Share 0

Markets are slowly grinding higher as yesterday’s slump disappears following some stability with bond yields.  A significant rally however will be difficult until traders have clarity on the Fed’s policy path.  Today’s release of the FOMC minutes could show how the risks related to global trade could warrant further rate cuts, but traders will likely pay more attention to Fed Chair Powell’s speech at Jackson Hole on Friday.

Bunds
Germany’s auction on a new 2050 bund was met weak demand as investors remain bearish on the growth prospects in the short-term and on uncertainty as to how aggressive the ECB will be with a new wave of easy money coming into markets next month.  With the whole German yield curve now in negative territory investors will have to think hard if they want to pay Germany to loan them money out for 30 years.

Oil
Oil prices are rallying on some tightness with the supply side of the equation from both the US and Canada. Crude prices started to rebound from a bullish API stockpile report that could signal the largest Cushing draw since February 2018, if the EIA validates it. Yesterday, Alberta decided to extend their crude oil output cuts by a year. With Canadian heavy crude restrictions being extended, we should see US refiners should struggle to fill the void from lowered shipments from Mexico and Venezuela.
The biggest risk to crude prices is if Fed chair Powell disappoints at Jackson Hole on Friday and doesn’t signal more easing will be coming. The longer-term outlook still looks suspect for oil but rising expectations for a trifecta of stimulus from the US, Europe and China, should keep prices supported in the short-term.  Oil will struggle to breakout much higher until trade war concerns are firmly alleviated between not just the US and China, but the US and Europe.

Continue reading
AUG
21

Brent oil futures climb above $60 on US inventory draw

Brent oil futures climb above $60 on US inventory draw - MarketPulseMarketPulse

Home/Commodities/Economic Exposure/In The News

Share 0

Brent crude oil futures rose above $60 a barrel for the first time in over a week on Wednesday after a data report showed a larger-than-expected drop in U.S. crude inventories, but ongoing worries about a possible global recession capped gains.

Brent crude had gained 32 cents, or 0.5%, to $60.35 a barrel by 0403 GMT, after settling 0.5% higher on Tuesday.

U.S. crude was up 25 cents, or 0.45%, at $56.38 a barrel.

Continue reading
AUG
21

European open – Trade War, Fed, Italy, Gold, Oil

European open - Trade War, Fed, Italy, Gold, Oil - MarketPulseMarketPulse

Home/Central Bank Watch/Commodities/Currency/EUR/FX/Indices/Market Pulse/USD

Share 0

Markets in wait-and-see mode

Everything is looking a little flat on Wednesday, finally a reflection of what you would typically expect in this period after a chaotic few weeks.

Continue reading
AUG
21

Aussie firmer as data improves

Aussie firmer as data improves - MarketPulseMarketPulse

Home/AUD/Currency/FX/GBP/JPY/Market Pulse/Technical Analysis Forex/USD

Share 0

 

Leading index rebounds

The Westpac leading index showed some improvement in July, rising 0.1% m/m after a 0.08% decline in June. This was the first positive reading since March and in comments linked to the release, Westpac stated that this was the first above-trend reading since November. Westpac noted that the changes in the share market, commodity prices and the inversion of the yield curve point to a likely softer reading for August. The bank still expects the next RBA cut to come in October.

AUD/USD was marginally higher during the Asian morning, partly from the data but also reflecting better risk appetite across asset classes. The pair is lining up for a second daily gain for the first time since early-July. US indices moved higher by between 0.32% and 0.44% while USD/JPY traded 0.24% higher at 106.48.

Continue reading
AUG
21

Daily Markets Broadcast 2019-08-21

Daily Markets Broadcast 2019-08-21 - MarketPulseMarketPulse

Home/Daily Markets Broadcast/DAX/Indices/Market Pulse/Technical Analysis/Technical Analysis Indices

Share 0

Daily Markets Broadcast

2019-08-21

Stocks rebound is short-lived

Continue reading
AUG
21

Characteristics of Australian Exporters

Main features

This publication provides an analysis of the number and characteristics of Australia's merchandise exporters.

Key statistics

In 2017-18, the total value of Australian merchandise exports reached a record of high of $314 billion, $24 billion (8%) higher than in 2016-17.

The number of exporters increased more moderately (2%) to 53,015. This continues the upward trend seen in the number of exporters from 2013-14 onwards.

Continue reading

Copyright

© absau

AUG
21

The Korelin Economics Report with OANDA discussing US markets, the upcoming Jackson Hole meeting and G7 summit

The Korelin Economics Report with OANDA discussing US markets, the upcoming Jackson Hole meeting and G7 summit - MarketPulseMarketPulse

Home/Central Bank Watch/Market Pulse/Media

Share 0

Ed Moya, Senior Market Analyst at OANDA joins Cory Fleck to share his thoughts on the US markets and all the recession fears that are on investors minds. Most importantly for this week we look ahead to major events that could drive markets, these include the Jackson Hole meeting and the G7 summit over the weekend.

Ed Moya on The Korelin Economics Report

Continue reading
AUG
21

US Dollar Retreats Awaiting FOMC Minutes

The US dollar fell across the board against major pairs on Tuesday ahead of the central bank summit hosted by the Fed. The U.S. Federal Reserve will be releasing the minutes from the July Federal Open Market Committee (FOMC) meeting where it cut the benchmark rate by 25 basis points. The minutes will be posted on Wednesday, August 21 at 2pm EDT. The market anticipates the US central bank to lay the dovish rhetoric very thick.

The White House has been vocal on their expectations and as more central banks jump in the dove bandwagon, the Fed is expected to lead them. The Fed did slash rates as forecasted after the July meeting, but Chair Jerome Powell confused markets with a slightly hawkish tone and lack of commitment to an easing cycle. The minutes from the July FOMC could confirm the Fed remains dovish, or could validate Powell’s hesitation to cut rates when the US economy might not warrant that adjustment.

Euro Climbs Ahead Fed Minutes, Despite Italian Turbulence

The EUR/USD gained 0.21 percent on Tuesday. The single currency is trading at 1.1101 awaiting the notes from the July FOMC meeting. Investors are more focused on monetary policy than politics as the EUR managed a gain despite tensions rising in Italy and England. The Italian prime minister resigned and in Britain Boris Johnson has kept a no-deal exit on the table.



Continue reading
AUG
21

Dow falls for the first time in four days

Dow falls for the first time in four days - MarketPulseMarketPulse

Home/Forex News Round Up/Indices

Share 0

Stocks slipped on Tuesday as investors digested a sharp rebound from a strong sell-off last week.

The Dow Jones Industrial Average traded 50 points lower, or 0.2%. The S&P 500 and Nasdaq Composite pulled back 0.3% and 0.2%, respectively. The Dow was on pace to snap a three-session winning streak.

Micron Technology and Advanced Micro Devices dipped 1.1% and 1.3%, respectively. Netflix shares pulled back 3%.

Continue reading
AUG
20

Oil price rally takes a breather after Monday’s big gains

Oil price rally takes a breather after Monday’s big gains - MarketPulseMarketPulse

Home/Commodities/In The News

Share 0

Oil futures retreated on Tuesday, with crude prices pausing after a sharp run-up in the previous session that had been partly fueled by reports that Yemen’s Houthi rebels launched a drone attack over the weekend on one of Saudi Arabia’s largest oil fields.

West Texas Intermediate crude for October delivery CLV19, -0.07% lost 25 cents, or 0.5%, to $55.90 a barrel, after the most-active contract gained 2.4% on Monday. October Brent BRNV19, -0.05% edged 20 cents, or 0.3%, lower at $59.64 a barrel, following a 1.9% gain in the previous session.

Oil prices have mostly risen over the past two weeks as expectations that central banks across the globe will combat signs of recession with greater stimulus that could help stimulate appetite for crude and other energy assets.

Continue reading
 
     
 

Latest Spot Rate

 
Wait a minute, while we are rendering the calendar
How It Works | About | Contact | Privacy Policy | Forex Marketing
© 2009 - 2019 Forex Forum. All Rights Reserved. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.