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Closing changes on the main US exchanges: S&P 500 up 41 points to 2952 (+1.4%) DJIA +1.4% Nasdaq +1.4% On the week: S&P 500 -0.3% DJIA -0.9% Nasdaq +0.5% Those are some modest moves on the week that disguise how wild a ride it was. Here is how the weekly S&P 500 chart looks like:
Official has more-direct knowledge of Trump’s Ukraine dealings A second official with more-direct knowledge of Trump’s Ukraine dealings is weighing whether to blow the whistle on the President, according to the New York Times. The second official is among those interviewed by the intelligence community inspector general to corroborate the allegations of the original whistle-blower,
Picture of 10.000 bolivar-bill taken in Caracas on July 26, 2018. – Venezuelan President Nicolas Maduro on July 25 announced the removal of five zeroes from the country’s currency — two more than originally planned — amid hyperinflation the IMF said could reach one million percent this year. (Photo by Juan BARRETO / AFP) (Photo
What is the trade in USD/JPY MUFG Research discusses USD/JPY tactical outlook and adopts a neutral bias, expecting the pair to remain contained in 106-109 range in the near-term. “Over the last week, the USD rally at the end of the quarter was mixed with JPY buying among exporters. Financial institutions are taking gains and
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Atlanta Fed GDPNow cut Prior forecast was Sept 27 From the report: After this morning’s Manufacturing ISM Report On Business from the Institute for Supply Management and the construction spending report from the U.S. Census Bureau, the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real private fixed-investment growth decreased from 2.6 percent
European trading thoughts and ideas The GBP is looking likely to be supported on Boris Johnson plan submission to the EU, but watch out for leaks on whether the plan is credible. The AUD is being sold off as the RBA cut and is seen to be staying on the cutting rate bias, for now.
Latest data released by Destatis – 30 August 2019 prior -2.2% revised -1.6% retail sales 3.2% y/y vs 2.9% expected 4.4% prior Monthly reading as expected and y/y reading ticks up. The big worry for the eurozone is if/when the slowing manufacturing data flows into services and consumption activity. Nothing to see here to that
Danske Research discusses the USD outlook and highlights 3 factors to watch for USD strength to be halted: trade, Fed and ‘Europe’. “First, will US-China trade talks set to resume in the week starting 7 Oct result in an interim deal? Market expectations seem rather downbeat and if progress is shown, it should provide some relief