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Flush and reset
S&P 500 spent time rotating and consolidating while I treated clients to Nasdaq long gains – necessary to protect during the intraday flush that reached an important level. Where does that leave stocks, considering Bitcoin comeback and USD not exactly reacting to yields path lately?
AUD/USD gains as US Dollar falters on Fed Chair speculation, RBA hawkish tone
AUD/USD trades firmly on Wednesday, around 0.6590 at the time of writing, up 0.50% on the day.
FX Today: Attention shifts to the US employment data
The US Dollar (USD) remained well on the defensive on Wednesday, receding to levels last seen in late October amid mounting bets for another interest rate cut by the Federal Reserve at its meeting next week.
WTI edges higher even as EIA data signals weaker demand
West Texas Intermediate (WTI) edges higher on Wednesday after a brief dip as traders digest the latest US Energy Information Administration (EIA) crude inventory report. At the time of writing, WTI is trading near $59.10, up nearly 1.00% on the day.
Pound Sterling Price News and Forecast: Soars as speculation over Hassett fuels Fed-pivot bets
GBP/USD rallies on Wednesday during the North American session, surpasses the 1.3300 figure as market participants priced in a more dovish Federal Reserve as rumors grow that the White House economic adviser Kevin Hasset could become the next Chair taking Powell’s rein. Read More...
US Treasury’s Bessent: No one understands Fed's balance sheet function
United States (US) Treasury Secretary Scott Bessent said that he would, going forward, press for the Federal Reserve's (Fed) Board of Governors to veto appointments of candidates who have not satisfied the threshold of living in their respective districts for at least three years.
Russia Unemployment Rate in line with expectations (2.2%) in October
Russia Unemployment Rate in line with expectations (2.2%) in October
Gold steadies as mixed US data and dovish Fed expectations pressure the Dollar
Gold (XAU/USD) firms as traders react to the latest US economic releases. At the time of writing, XAU/USD is trading around $4,225, edging modestly higher after briefly slipping below the $4,200 psychological level earlier in the day.
ECB’s Lagarde: Underlying inflation remains consistent
European Central Bank (ECB) President Christine Lagarde said that growth in economic activity should benefit from increased household spending and a resilient labor market, testifying before the Committee on Economic and Monetary Affairs of the European Parliament, in Brussels on Wednesday.
Pound Sterling Price News and Forecast: GBP/USD tepid near 1.3200 as rate watchers look on
The Pound Sterling (GBP) trades 0.5% higher to near 1.3280 against the US Dollar (USD) during the European trading session on Wednesday.
GBP/USD soars to one-month high as speculation over Hassett fuels Fed-pivot bets
GBP/USD rallies on Wednesday during the North American session, surpassing the 1.3300 figure as market participants price in a more dovish Federal Reserve (Fed), as rumors grow that the White House economic adviser Kevin Hassett could become the next Chair, taking Jerome Powell’s reins.
EUR/USD climbs toward six-week highs as weak US data pressures the Dollar
The Euro (EUR) trades on the front foot against the US Dollar (USD) on Wednesday as the Greenback remains under sustained selling pressure amid dovish Federal Reserve expectations, while traders digest the latest US services sector data.
United States EIA Crude Oil Stocks Change above expectations (-1.9M) in November 28: Actual (0.574M)
United States EIA Crude Oil Stocks Change above expectations (-1.9M) in November 28: Actual (0.574M)
JPY advances on narrowing yield spreads to 2022 Lows – Scotiabank
The Japanese Yen (JPY) is strengthening again, up 0.3% against the US Dollar (USD) as USD/JPY moves back toward Monday’s lows and threatens a broader retracement of its mid-November weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
NZD/USD gains on strong Chinese data, US labor market weakness
NZD/USD holds in positive territory around 0.5750 on Wednesday, up 0.20% on the day at the time of writing.
GBP outperforms G10 peers as risk appetite improves – Scotiabank
The Pound Sterling (GBP) is the day’s top G10 performer after Norwegian Krone (NOK), with sentiment-driven buying pushing GBP higher as risk reversals recover to late-August levels, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Breaking: US ISM Services PMI surpasses consensus in November
Fresh data from the Institute for Supply Management (ISM) showed the Services Purchasing Managers Index (PMI) picking up to 52.6 in November from 52.4, beating expectations of 52.1 and signalling a bit more momentum in the sector.
EUR: Euroarea’s political situation somewhat improves – Scotiabank
The Euro (EUR) is up 0.3% against the US Dollar (USD) and a mid-performer among the G10, climbing to fresh local highs at levels last seen in late October.
United States ISM Services PMI came in at 52.6, above expectations (52.1) in November
United States ISM Services PMI came in at 52.6, above expectations (52.1) in November
United States ISM Services Employment Index increased to 48.9 in November from previous 48.2
United States ISM Services Employment Index increased to 48.9 in November from previous 48.2
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