United States 10-Year Note Auction fell from previous 4.56% to 4.483%
United States 10-Year Note Auction fell from previous 4.56% to 4.483%
Wed, 08 May 2024 13:06:48 -0400
Mexican Peso pressured as Banxico decision looms
The Mexican Peso remains on the defensive against the US Dollar on Wednesday as investors brace for the Bank of Mexico (Banxico) monetary policy decision on Thursday. Before that, April's inflation in Mexico is expected to dip in headline and core figures, which could weigh on the central bank's decision.
Wed, 08 May 2024 12:51:31 -0400
U.S. Treasury to auction off $42B of 10-year notes at the top of the hour
The U.S. Treasury will auction off a $42 billion of 10 year notes top of the hour. The six-month averages of the major components shows: High Yield: Previous 4.56%, six-auction average 4.276% Tail: Previous 3.1 basis points, six-auction average 0.9 basis points Bid-to-Cover Ratio: Previous 2.34x, six-auction average 2.49x Dealers: Previous 24.0%, six-auction average 16.9% Directs (a measure of domestic buyers): Previous 14.2%, six-auction average 17.0% Indirects (a measure of international buyers): Previous 61.8%, six-auction average 66.1% The success or failure of the auction will be determined by how the actual auction results compare to the 6 month averages.
Wed, 08 May 2024 12:49:05 -0400
Canadian Dollar claws back ground on data-light Wednesday
The Canadian Dollar (CAD) rebounded across broader markets on Wednesday, regaining ground lost in the previous sessions. Markets remain thin as traders await meaningful data and watch for talking points from Federal Reserve (Fed) officials.
Wed, 08 May 2024 12:40:14 -0400
US Dollar sees mild gains amid remarks from Fed speakers
The US Dollar Index (DXY) is currently trading with mild gains at 105.45. This gain can be partially attributed to the cautious remarks of members of the Federal Reserve (Fed), who highlighted that rates will be kept high as long as they need to be to bring down inflation.
Wed, 08 May 2024 12:39:16 -0400
European major stock indices end the day mostly higher
Major European stock indices are closing mostly higher. The exception is Italy's FTSE MIB which declined by -0.27%: German DAX +0.37% France CAC +0.69% UK FTSE 100 +0.49% Spain's Ibex +0.65% Italy's FTSE MIB -0.27% As European/London traders look for the exits, US stocks are mixed: Dow Industrial Average average of 82.17 points or 0.21% at 38966.60 S&P index minus 3.33 points or -0.06% at 5184.44 Nasdaq -38.34 points or -0.23% at 16294.33 In the US debt market, yields are higher: 2-year 4.828%, unchanged 5-year 4.488%, +1.7 basis points 10-year 4.481%, +2.1 basis points 30-year 45624% +2.0 basis points This article was written by Greg Michalowski at www.forexlive.com.
Wed, 08 May 2024 12:05:30 -0400
Fed Collins: The job market is coming to a better balance
Federal Reserve Bank of Boston President Susan Collins emphasized that the US economy requires a period of moderation as a means to reattain the central bank's 2% inflation target.
Wed, 08 May 2024 11:55:10 -0400
Pound Sterling downtrend remains, despite bouncing off the daily low
Pound Sterling downtrend remains, despite bouncing off the daily low
Wed, 08 May 2024 11:19:28 -0400
April CPI Preview: The Clock Is Ticking for a September Cut
A string of uncomfortably-hot inflation readings in the first quarter leaves a narrow window for inflation to downshift before a late summer rate cut by the Federal Open Market Committee (FOMC) is no longer on the table. We expect the April CPI report to demonstrate that while inflation is not as sticky as the Q1 pace indicated, the journey back to 2% remains slow-going.
Wed, 08 May 2024 10:56:50 -0400
ECB's Holzmann decisively against quick and strong interest rate cuts
In an interview published today, ECB Governing Council member Robert Holzmann indicated that while he is open to rate cut in June, “I see absolutely no reason for us to cut key interest rates too quickly, too strongly,” he said.
Wed, 08 May 2024 10:50:04 -0400
ECB's Wunsch sees path to start rate cut, but not preset course of action
Speaking in Frankfurt, ECB Governing Council member Pierre Wunsch indicated the even though the outlook remains “foggy”, he saw a “path for initiating rate cuts this year.” He added that the upcoming June meeting would provide clearer insights into wage and service sector dynamics for making the decision.
Wed, 08 May 2024 10:34:47 -0400
Turkey Treasury Cash Balance down to -236.98B in April from previous -166.78B
Turkey Treasury Cash Balance down to -236.98B in April from previous -166.78B
Wed, 08 May 2024 10:32:36 -0400
Weekly Crude oil inventory show a -1.362M drawdown vs -1.066 M estimate
Crude oil Gasoline Distilates Cushing This article was written by Greg Michalowski at www.forexlive.com.
Wed, 08 May 2024 10:31:35 -0400
German Industrial Production Slide Brings Closer ECB's Rate Cut
German industrial production continues to decline. The rate of contraction in March was slightly better than the average forecasts but maintained the downward trend.
Wed, 08 May 2024 10:20:48 -0400
Natural Gas Price Forecast – Natural Gas Continues to Try to Recover
The natural gas market has gotten a bit stretched over the last few days, but ultimately it is likely that a pullback is necessary. This will more likely than not only attract more buyers eventually.
Wed, 08 May 2024 10:00:55 -0400
United States Wholesale Inventories in line with expectations (-0.4%) in March
United States Wholesale Inventories in line with expectations (-0.4%) in March
Wed, 08 May 2024 10:00:37 -0400
US March wholesale inventories (revised) -0.4% versus -0.4% preliminary
Prior month +0.4% This article was written by Greg Michalowski at www.forexlive.com.
Wed, 08 May 2024 10:00:20 -0400
Euro Hands Back Some Gains As June ECB Rate Cut Remains On Table
The European Central Bank is still expected to cut rates before the Federal Reserve. Can the Euro's uptrend hang on?
Wed, 08 May 2024 10:00:00 -0400
US Dollar (DXY) Index News: Posting Modest Gain Amid Fed Rate Cut Talk
The dollar's trend in the coming weeks will likely hinge on the Fed's signaling regarding rate adjustments.
Wed, 08 May 2024 09:53:48 -0400
Crude Oil Price Forecast – Crude Oil Continues to Try to Build a Base
The oil markets initially fell a bit in the early hours on Wednesday as the market continued to look very dire. However, this is a situation where the traders out there may finally being pushed back on.
Wed, 08 May 2024 09:48:53 -0400