The financial markets were like in parallel universes last week. On the one hand, US stocks were boosted by trade optimism as the three major indices ended at record highs. On the other hand, Hong Kong stocks led Asian...
As suggested in the CFTC Commitments of Traders report in the week ended November 12. NET LENGTH in USD Index slid -595 contracts to 277 84. Speculative long positions fell -1 066 contracts and short positions dropped -471 contracts....
According to the CFTC Commitments of Traders report for the week ended November 12, NET LENGTH for crude oil futures gained +18 457 contracts to 424 597 for the week. Speculative long positions declined -25 944 contracts while shorts...
U.S. Review
The Consumer-Producer Divide on Full Display
Retail sales beat expectations and rose 0.3% in October, reflecting the ongoing strength of the consumer. Control group sales, a major input to GDP, also increased 0.3%.
Industrial production in October declined...
U.S. Highlights
U.S. data this week showcased the contrasting feature of the U.S. economy: a resilient U.S. consumer but a struggling manufacturing sector.
Negotiations on a phase one trade deal between the U.S. and China took a step back...
The week ahead should be a reminder both of risks to the Canadian economic backdrop coming from international trade tensions – but also that trade concerns are not the only headwind for the economy. The tone of trade negotiations...
On Sunday, Saudi Arabia’s Aramco will get its show on the road seeking to bring investors on board for its listing in December. The firm will close its offer period on Dec 4, just before the OPEC meeting in...
I’d be lying if I said the week ahead is going to be super exciting and that I am very much looking forward to it. The reality is, the economic calendar will be rather quiet in the first half...
The economic calendar is relatively light next week, with the most crucial release being the euro area’s preliminary PMIs, which will reveal whether growth is headed for a contraction in Q4. In America, the minutes of the latest Fed...
Key insights from the week that was.
Income gains are crucial to sustained growth in consumer spending. The past five years have seen next-to-no real wage growth in Australia and, as a result, persistent, sub-par consumption growth. Another soft reading...
Australia's weakest jobs data since 2016 knocked the Aussie to 1 month lows as RBA rate cut talk picked up again. The vibe from Asian markets isn't helping the A$'s cause either.
The Aussie dollar was already having a difficult...
WTI oil price stands at the front foot on Friday and accelerated above $57 mark on weaker dollar after US data. Optimism that the OPEC+ group will maintain its agreement for oil supply cut and fresh hopes for US/China...
Dollar is mixed for today as markets head toward weekly close. Economic data from the US are generally disappointing, but sentiments seemed to be lifted by comments regarding US-China trade deal. Global stock markets also stabilized while US equities...
US headline retail sales rose 0.3% mom in October to USD 526.6B, above expectation of 0.1% mom. But ex-auto sales rose 0.2% mom, missed expectation of 0.3% mom.
Import price index dropped -0.5% mom in October, versus expectation of -0.2%...
Today will see the release of several macroeconomic pointers from the US, starting from 13:30 GMT. Among them, we will have the latest monthly retail sales and industrial production data. The US dollar will therefore be in focus.
Here is...
Eurozone CPI was finalized at 0.7% yoy in October, core CPI at 1.1%. The highest contribution to the annual Eurozone inflation rate came from services (+0.69%), followed by food, alcohol & tobacco (+0.29%), non-energy industrial goods (+0.07%), and energy...
USDCAD is testing the upward-sloping trendline drawn from the 3-month low of 1.3041 in the four-hour chart following Thursday’s pullback from the 1.3269 high.
According to the fast Stochastics the odds for a rebound are increasing as the indicator is...
GBPJPY is currently below the 50-, 100- and 20-period simple moving averages (SMAs), having been bound within a trading range of 141.47 to 138.85 for almost a month. It is evident that directional momentum has evaporated, something also supported...
Next CFD/DFT (NXT): Since breaking above key resistance around 6,225, prices rallied to 7,000 and are now gently retracing within a tight, corrective channel. Moreover, the 50-day eMA and 50% retracement level are nearby to act as potential support.
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Markets turn into consolidative mode today as Dollar, Yen and Swiss Franc pare back some gains. Commodity currencies, on the other hand, are generally higher. Traders are taking some profits ahead of weekly close. Nevertheless, over the week, New...