NASDAQ index needs the charge for the second consecutive day The major indices are openly higher after the tame inflation data. The NASDAQ index is leading the way with a gain of over 1%. The snapshot of the market currently shows: S&P index up 27 points or 0.71% at 3903.26 NASDAQ index up 161 points or 1.21%
admin
Pair remains in up-and-down consolidative range The BOC will announce their latest interest rate decision at 10 AM ET. To read Adam’s thoughts click here. From a technical perspective, the USDCAD has been consolidating in an up-and-down trading range over the last 8 – 9 trading days. Most of the trading has occurred between 1.25865 at 1.26976. There were two extensions to
What sellers need to do to change the short term bias The USDCHF reached its highest level going back to July 2020 on Monday. That my stalled near a swing area between 0.9360 and 0.93753. Sellers leaned against the swing area and push the price lower yesterday. Today, the pair is higher on the day after taking out yesterday’s lows, but not
Found sellers against its 50% and 100 hour moving average The NASDAQ erased its earlier gains and moved modestly into the red. At the high, the index was up 1.55% or 203 points. After dipping briefly into the red, the index is now back up 58 points and volatile trading. Technically, at the highs for the day, the pair tested the 50%
First break since Feb 26th was short lived The AUDUSD extended above its 200 hour MA in the early NY dollar selling. That MA comes in at 0.77352. The high for the day reached 0.77452. However, momentum faded (with the Nasdaq index mainly although the Dow and S&P kept most of strength), and the price
German DAX closes at all-time high for the third consecutive day The major European indices are closing higher for the third consecutive day. The German DAX closes at all-time high once again (3rd day in a row). The provisional closes showing German DAX, +0.7% France’s CAC, +1.1% UK’s FTSE 100, unchanged Spain’s Ibex, +0.18% Italy’s FTSE MIB, +0.4% A snapshot
Yield moves toward the low for the day at 1.5177% The U.S. Treasury will auction off $38 billion of 10 year notes at 1 PM ET. Ahead of that auction, the 10 year yield has recently moved back down into negative territory for the day. It currently trades at 1.523%, down -0.3 basis points. The low
But price action is choppy around the MA level The EURUSD has moved back above its 100 hour MA for the 2nd time today. The first look earlier in the NY session, found willing sellers. Will the 2nd look above keep the buyers in control. Recall, getting back above the 100 hour MA is often
Crude oil futures settle up $0.43 or 0.67% The price of WTI crude oil futures is settling at $64.44. That is up $0.43 or 0.67%. The high price reached $64.96. The low extended to $63.10. Looking at the hourly chart, the price action today spent most of the time above its 200 hour moving average
Yields are mixed but off highs The 10 year auction had a 1 bp tail but the other numbers were not all that bad. As a result, yields moved lower. The 10 year yield is down to 1.519%, down -0.7 bps on the day. The low reached 1.5039%, while the high reached 1.5647%. The 2
This is a re-opening One important thing to remember is that this is not a new issue. It’s a reopening of an existing 10-year note. So it’s really a 9-year, 11-month note. That makes it easier to price and hedge because you can use the existing note, which is trading at 1.5091%. As you can
Results of the $38 billion reopening WI at 1.520% vs 1.515% on the bid/offer ahead of the sale 1.5143% was the yield in the same issue ahead of the sale Bid to cover 2.38 Prior bid to cover was 2.37 There was a pretty big bid in bonds ahead of the sale and the yield
Monthly budget data Feb 2020 was $265B Fiscal year to date deficit $1047B vs $624B in 2020 Outlays $559B vs $423B a year ago Receipts $248B vs $188B a year ago This is worse than it looks because of changes in the timing of tax filing and refunds. That would probably add $45B. All that
Biden gets his stimulus plan All along, the betting was that it would be watered down or struggle but Democrats got it done. Time will tell if it was the right amount or an inflationary time bomb. The vote in the House is ongoing but there are enough yea votes for it to pass. Biden
Onto the next one Fox Business reports that Biden’s infrastructure plan could be as high as $2.5 billion over four years. The next bill is going to be a fight in Congress with some top Democrats wanting it to be bi-partisan. There is some real interest on the Republican side though, so it could happen.
Dow 30 stocks up 1.62% The Dow industrial average is trading up over 500 points or 1.63% at 32351 after the $1.9 trillion Covid relief bill was passed. Pres. Biden will be signing it shortly. The high for the index reached 32362.15 so far today. The biggest gainer in the Dow 30 is Boeing and up 6.13%.
2145 GMT New Zealand Food Price (inflation) for February prior +1.3% m/m 2350 GMT Japan PPI for February expected 0.5%, prior 0.4% m/m expected -0.7%, prior -1.6% y/y Producer Price Index is inflation at a business-to-business level (in a nutshell). It is also known as the Corporate Goods Price Index, which is probably a better
Meme stock insanity continues S&P 500 +23 points to 3899, +0.6% DJIA +1.4% Nasdaq -0.1% Russell 2000 +1.8% There were some big swings in sentiment throughout the day. The the low CPI number calmed nerves and then decent 10-year auction also helped. The ‘two markets’ theme I’ve been highlighting was particularly noticeable today as broad
- 1
- 2
- 3
- …
- 189
- Next Page »