Shortly after the election, markets were in a great mood and it’s easy to see why. You had a Republican sweep with the promise to extend current tax cuts and maybe even deliver more. Since then, the tough math on the US deficit has eroded some of that optimism and Congress hasn’t moved particularly quick. […]

This is funny. Earlier today, Daly said she ‘still’ believed in cutting rates twice this year and I repeated my oft-said saying that when central bankers say the ‘still’ believe in something, they rarely do. Now she’s on the wires talking about today’s slightly-hot PCE report and saying it confirms her own decreased confidence in

Says he will be announcing pharma tariffs soon I don’t know if this tells us much. This article was written by Adam Button at www.forexlive.com.

The pre-market picture wasn’t bad at all but some softness in the consumer spending portion of the PCE report and another weak consumer sentiment print weighed. I would suspect those were small factors though compared to worries about tariffs. No one from the White House came out to talk down auto tariffs or April 2

An Axios report says the Trump admin is considering allowing the richest Americans’ tax rates to rise in return for cutting taxes on tips. There isn’t much here as it says “some White House officials believe” it would be a good idea. Note that this would have to get through Congress and it would take

US February PCE core +2.8% y/y vs +2.7% expected UMich March final consumer sentiment 57.0 vs 57.9 expected Trump drops the ‘governor’ talk and says he had ‘extremely productive’ call with Carney Canada PM Carney: Canada will implement retaliatory tariffs Trump says will “absolutely” follow through with tariff promise on Canada Trump says he is

I saw this from Nomura on Friday and am a wee bit slow to post it. here it is now. – With U.S.–China trade tensions expected to escalate following the Trump administration’s latest “America First” policy review, China’s measured response to new U.S. tariffs appears to be a calculated move, according to Nomura. In a

Today might have been a turning point in Trump’s relationship with Canada though many would argue that it’s now beyond repair. Yesterday Canadian Prime Minister Mark Carney said: “The old relationship we had with the United States, based on deepening integration of our economies and tight security and military cooperation, is over.” Today though, Trump

Oil rig count -2 at 484 Gas rigs +1 at 103 Total rigs -1 at 592 Crude oil is trading down $0.64 at $69.27. For the week it is up around one dollar. This article was written by Greg Michalowski at www.forexlive.com.

I would like to know the context of this quote, in particular the question that was asked because some subtitles could be important. Carney says Trump respected Canada’s sovereignty today both in private and public comments Talk with Trump was very cordial It’s not clear whether there will be new trade discussions between Canada, the

Told Iran they need to make a decision Iran is on his list of things to watch Is looking at reports of Iranian drones used in Ukraine Trump gave Iran some deadlines about its nuclear program at the start of his term and this was reportedly the response: 1. Iran reaffirms that it will not

The major European indices are closing lower for the day lower for the week: German DAX -222.86 points or -0.90% at 22455.89. For the week the index felt -1.90%. France’s CAC -74.03 points or -0.93% at 7916.09. For the week the index fell -1.58%. UK’s FTSE 100 fell -7.27 points or -0.08% at 8658.86. For

Elon Musk is combining X (formerly Twitter) and xAI (his AI company that’s known for Grok). The deal puts X under xAI with the transaction valuing X at $33 billion. That’s a 33% discount to the $44 billion he paid to take Twitter private, however with the debt component it might all wash out. There

Says Denmark has underinvested in security architecture in Greenland Will respect the self-determination of Greenlanders Greenland is less secure than it was 30, 40 years ago He’s right about Greenland being less secure but he’s not right about who it’s less secure from. That said, the ‘self-determination’ line is the most-dovish thing anyone in the

The Bank of Mexico (Banxico) delivered a widely expected 50 basis point rate cut, bringing the benchmark rate down to 9.00% in a unanimous decision. The central bank signaled that the inflation outlook supports continued easing, and it anticipates future cuts of similar size if conditions permit. However, policymakers also noted that recent shifts in

Canada PM Carney is commented on call with Trump and ssys: Canada will implement retaliatory tariffs Says will talk to Trump on the economy and security after the Canadian election. He says call with Pres. Trump was very constructive. He and Trump agreed to begin comprehensive negotiations about a new economic insecurity relationship immediately following

Sector Overview Today’s stock market presents a challenging landscape, especially for technology stocks. The technology sector is noticeably in the red, with significant declines across major players. Google (GOOG) fell by 2.47%, while Meta (META) saw a dip of 2.59%. This broad sell-off indicates persistent investor concerns, particularly affecting the software and semiconductor segments.Nvidia (NVDA)

The euro is set to appreciate meaningfully over the next two years, according to Bank of America, as investors begin to price in diverging macroeconomic and policy trajectories in the U.S. and eurozone. In a note to clients, BofA strategists outlined a constructive outlook for the single currency, projecting it to reach $1.15 against the

Prior 101.7; revised to 102.6 That’s the highest reading since August last year as the Swiss economic outlook picks up a little. It’s a bit of a contrast to investor sentiment though, which is seemingly more concerned about tariffs impacting the economy. This article was written by Justin Low at www.forexlive.com.

I take this as bullish CAD: “I just finished speaking with Prime Minister Mark Carney, of Canada. It was an extremely productive call, we agree on many things, and will be meeting immediately after Canada’s upcoming Election to work on elements of Politics, Business, and all other factors, that will end up being great for

Bitcoin has extended today’s decline to 3.5% or $3110 in a decline to $84,163. Risk is being taken down across the board today and that’s not a big surprise to me. At the start of the day, when stocks were almost flat, I wrote that I suspected quarter-end flows were propping up risk assets. That

As the stock market falls on tariff and inflation fears, Pres. Trump is out saying that he had a call with Canada PM Carney and said it was “extremely productive” and that they agreed on “many things”. Of course they did. The USDCAD has moved lower on the news with the price falling toward the

Trump chose the worst time possible to start his tariffs war. One thing that people forget to take into account is context. During the first Trump’s administration, we haven’t had an inflation problem with central bank struggling to achieve their 2% targets sustainably. Today, we have the opposite problem. Central banks are struggling to bring

The last mile will be about prudence The next ECB meeting is April 17 and the market is pricing in an 88% chance of a rate cut. Nagel is a hawk so I take this as a green light to take that pricing up to 100%. June though is 50/50. This article was written by

EURUSD initially moved lower following softer inflation data from France and Spain, as well as a rise in Germany’s unemployment rate and jobless claims—factors that weighed on the euro. However, the tone shifted after Bloomberg reported that the EU is preparing concessions in response to U.S. reciprocal tariffs imposed by the Trump administration. According to

It’s a tough one in the equity markets today with the S&P 500 now down 2% and the Nasdaq down 2.7%. Tariff angst is high ahead of Wednesday’s planned Trump tariffs. It’s very tough to estimate exactly what’s priced in for tariffs but if there is any room for de-escalation, the stock market today is

It’s been a pretty choppy week for many markets as traders continue to wait for the US reciprocal tariffs announcement next Wednesday before taking positions with more conviction. That’s what the market is focused on now and all the rest is just short term noise. That catalyst should lead to sustained trends. On the 1

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Says he thinks things are going to work out very well with Canada We had a very good talk with Carney Mixed messages here. “We had a very good conversation,” he said. “We have liberation day [tariffs], as you know, on April 2nd, because, and I’m not referring to Canada, many countries have taken advantage

The USDCAD pair continues to mostly range as traders await the April 2nd deadline. The Loonie’s faith remains tied to the US tariffs plan that is going to be unveiled on Wednesday. The Canadian Dollar could really see a massive appreciation in case we get good news. It’s a game of patience now. Not having

The dollar is keeping steadier so far on the day, with the antipodes lagging among the major currencies. EUR/USD is still hugging levels under 1.0800 with large option expiries in play while AUD/USD is seen down 0.3% to 0.6285 with month-end considerations in focus as well. Meanwhile, gold continues to shine brightly as it races

Reaffirms that maintaining stable, healthy development of US-China relations is fundamental Will handle US-China relations based on the principles of mutual respect and win-win cooperation China will remain an ideal, safe and promising investment destination Will ensure foreign firms have fair access to factors of production “Blocking someone else’s path will only block your own

Radio-Canada reports that Canadian PM and US President will speak at some point this morning. Carney is low solidly leading in the polls ahead of the April 28 election (still a long ways away) and this will be the first phone call between them. If we get some fresh ’51st State’ rhetoric from Trump, then

Prior +3.0% HICP +2.2% vs +2.6% y/y expected Prior +2.9% Core annual inflation was marked down to 2.0%, down from 2.2% in February. So, that’s definitely a welcome development for the ECB. It may be slower than France and Italy, but the disinflation process in Spain is at least still progressing. This article was written

Eurostoxx -0.4% Germany DAX -0.4% France CAC 40 -0.4% UK FTSE -0.1% Spain IBEX -0.1% Italy FTSE MIB -0.1% The selling continues as we get into the final stretch of the week, with US futures also keeping lower on the day. S&P 500 futures are now down 0.3% as risk remains on the defensive. 10-year

The s hello helloelloff continues, led by sharp declines in the NASDAQ index, which is currently down 443 points or -2.49%. The S&P 500 is lower by 1.8%, while the Dow Jones Industrial Average is down 1.52%. Technically, the NASDAQ is approaching a key support level: the 38.2% retracement of the rally from the late

Prior month 0.2% Canada GDP For January 0.4% vs 0.3% estimate Advanced estimate for February 0.0% MoM This article was written by Greg Michalowski at www.forexlive.com.

Today we had the Atlanta Fed GDPNow Q1 tracker taken down to -2.8% from -1.8% previously. A different tracker from a different Fed branch is painting a completely different picture. The NY Fed tracker was revised higher to 2.86% vs 2.72% prior. “News from this week’s data releases increased the 2025:Q1 estimate by 0.2 percentage

S&P 500 futures are down 8 points, which isn’t bad given all the angst in the world. I tend to think some of the quarter-end rebalancing flows are at work in the past couple days but time will tell. Another trend that’s unfolding is a re-think on who will be the big winners in the

As the stock market continues to fall, at least yields are moving lower. As the US stocks fall sharply, the yields are at least moving lower. 2-year yield 3.944%, -5.3 basis points 5-year yield 4.017%, -8.1 basis points 10 year yield 4.285%,-8.3 basis points 30 year yield 4.651%, -7.7 basis points For the trading week,

The real world is changing and so is the world of FX. There was a time when if you had a 1.4% drop in the S&P 500, the US dollar would be much higher against everything but the yen and Swiss franc. That’s not the case today as it’s lower against the euro/pound and only

Major stock indices continue to get hammered led by the NASDAQ index which is down near 2%. The S&P index is down -1.4%. Major indices are now down for the week. .Dow -0.46% S&P index -0.99% NASDAQ index -1.83% Russell 2000-1.32% A snapshot of the market currently shows: Dow industrial average -510 points or -1.21%

Prior -13.6 Economic confidence 95.2 vs 97.0 expected Prior 96.3 Industrial confidence -10.6 vs -10.5 expected Prior -11.4; revised to -11.0 Services confidence 2.4 vs 6.7 expected Prior 6.2; revised to 5.1 Slight delay in the release by the source. Economic sentiment in the euro area declined to its lowest since December last year as

Rate cuts by year-end Fed: 64 bps (85% probability of no change at the upcoming meeting) ECB: 60 bps (90% probability of rate cut at the upcoming meeting) Following the soft French and Spanish CPI data, traders increased the expected easing from 56 bps to 60 bps. BoE: 45 bps (56% probability of rate cut

Due on Friday at 0830 US Eastern time (0130 GMT), the Core PCE data is the focus. The Personal Consumption Expenditures (PCE) data is a key measure of inflation that tracks changes in the prices of goods and services purchased by consumers. It is reported monthly by the Bureau of Economic Analysis (BEA) and is

Trump reached out to schedule a call Says will speak to business and union leaders to coordinate a response to April 2 Nothing is off the table when it comes to defending Canada It is clear that the US is no longer a reliable trade partner There is no silver bullet and no quick fix

A report from Bloomberg was out about an hour ago and highlights the state of play between the US and Europe in the tariff war, citing sources: EU officials expect 10-25% tariff rate on all or most goods European Union is identifying concessions it’s willing to make in a term sheet They were told there

I posted during the Asia timezone on the range of expectations for the imminent PCE data: US inflation (PCE) data due Friday – critical ranges to watch – clustered around +0.3% m/m Check out that post for the full thing, but if you just want the numbers: Core PCE Price Index m/m 0.1% to +0.3%

In the European session, the main highlights are the Preliminary French and Spanish CPI figures. The market is pricing around 80% probability of another 25 bps cut at the May meeting so the data will likely influence those expectations. In the American session, the focus will switch to the Canadian GDP, and the US Core

Prior +1.7%; revised to +1.4% Retail sales +2.2% vs +0.5% y/y expected Prior +1.0%; revised to +0.6% Retail sales (ex autos, fuel) +1.0% vs -0.5% m/m expected Prior +2.1%; revised to +1.6% Retail sales (ex autos, fuel) +2.2% vs +0.4% y/y expected Prior +1.2%; revised to +0.8% That’s a notable beat with non-food store sales

In early March, Hong Kong industrial conglomerate CK Hutchison agreed in principle to a deal to sell 45 ports globally to Blackrock with the deal set to be signed April 2. Now, that deal won’t happen as China’s market regulator will ‘review’ the deal, halting it, or at least the two ports in Panama won’t

The EURUSD is lower after weaker German jobs picture and lower inflation in France. The GBPUSD is also lower anc cracking below its 100 hour MA again, ahead of the US PCE data at 8:30 AM ET. The USDJPY fell lower to MA support but is bouncing off the MA. The price is still lower

Kremlin says Putin did not raise idea of Ukraine being put under temporary administration with Trump. Says Ukrainian army is out of control and not heeding orders from Ukraine’s leadership. Says armed nationalist forces in Ukraine are gaining strength which is why Putin mentioned idea of temporary external administration. Says Ukraine is continuing to strike

I have been waiting for this update in light of yesterday’s trade data and it’s not good. It pegs Q1 GDP growth at -2.8% from -1.8%. If there’s any good news it’s that the gold adjusted model is only a -0.5% decline. “After recent releases from the US Census Bureau and the US Bureau of

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Just a heads up on that as this will affect the timing of economic data releases and market open hours, all being an hour earlier. That is if you’re not from the region itself of course. This article was written by Justin Low at www.forexlive.com.

Prior +0.8% HICP +0.9% vs +1.1% y/y expected Prior +0.9% The readings are softer than estimated but French consumer prices have been keeping under 2% for a while now. So, it’s a plus point for the ECB. This article was written by Justin Low at www.forexlive.com.

The technical outlook for NZDUSD remains largely unchanged. Since March 20, price action has been confined to a narrow range between 0.8796 and 0.8850—a seven-day stretch of consolidation as traders await a breakout catalyst. A decisive move beyond either range extreme, accompanied by momentum, will likely signal the next directional push. Moving averages are starting

The narrative for USDCAD hasn’t changed much—I’ve been saying it for a while now: we’re stuck in the “Red Box.” That range has contained most of the trading activity since mid-December. Yes, there have been moves outside of it, but they’ve mostly failed to stick. At the end of January and into early February, price

The consensus was for a 50 bps cut to 9.00% and that’s what they delivered. Decision was unanimous Anticipates that the inflationary environment will allow it to continue toe rate cutting cycle Board will consider adjusting rates by similar magnitudes US policy changes have added uncertainty USD/MXN is up 1.1% and I think that underscores

Daly says she hasn’t moved her dot since last year. Need a wait-and-see posture on monetary policy, give industries time to adjust to tariffs Policy is in a good place, have to be patient Doesn’t have enough info to change her forecast Hearing ‘cautious optimism’ from businesses I have long said that when policymakers say

German DAX futures -0.5% UK FTSE futures -0.1% The selloff in Europe yesterday was more measured at the end of the day, with stocks moving off the lows. That said, there’s still a hangover of pessimism ahead of Trump tariffs next week. And that’s still weighing on the overall mood in broader markets as we

I have been dogging the UMich consumer sentiment survey and its political skews for 15 years. Now all the sudden the rest of the world seems to have caught on and the report is seen as filler. Still, I’m curious to see the direction of sentiment as this one tanked early and presumably could start

Prelim was 57.9 Prior was 64.7 Current conditions 63.8 vs 63.5 prelim Expectations 52.6 vs 54.2 prelim 1-year inflation 5.0% vs 4.9 prelim 5-year 4.1% vs 3.9% prelim two-thirds of consumers expect unemployment to rise in the year ahead, the highest reading since 2009 This report has turned highly political but the rising inflation expectations

There are a couple to take note of on the day, as highlighted in bold. The first ones are for EUR/USD at the 1.0750 and 1.0800 levels once again. That should help to keep price action locked in once again, with the latter especially providing an extra layer of defense to any upside extensions on

Prior 5k Unemployment rate 6.3% vs 6.2% expected Prior 6.2% German unemployment rises by more than estimated in March as the trend continues to outline further softness in the labour market. The jobless rate ticked a little higher to 6.3%, its highest since September 2020. This article was written by Justin Low at www.forexlive.com.

Headlines: Markets increase bets on ECB rate cuts following the softer inflation figures What is the distribution of forecasts for the US PCE? ECB’s de Guindos: Caution is even more important during times of uncertainty France March preliminary CPI +0.8% vs +0.9% y/y expected Spain March preliminary CPI +2.3% vs +2.4% y/y expected Germany April

The NASDAQ index led the declines in trading here today for the second consecutive day. Investors continue to lighten up on the tech/chip stocks. Nvidia fell -2.05% Meta fell -1.37 Alphabet fell -1.71% Broadcom fell AMD fell -3.21% Super microcomputers fell -6.26%. Palo Alto networks-5.69% Taiwan Semi conductors fell -3.03% Palantir fell-2.39% General Motors and

Canadian Prime minister Carney says Donald Trump reached out on Wednesday to schedule a call between the two. The talk is that the call will take place on Friday. Carney said on Thursday: “The old relationship we had with the United States based on deepening integration of our economies and tight security and military cooperation

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

A report earlier today said Ontario “expects the US administration to significantly ease the impact of auto tariffs on Canada” in the future after Howard Lutnick called Ontario Premiere Doug Ford yesterday. Now, we have comments from Ford saying he spoke to Canadian Prime Minister Mark Carney and they agreed to delay counter tariffs until

Prior 0.0% GDP +1.5% vs +1.4% y/y prelim Prior +1.0% No change to the initial estimate on the quarterly reading as the UK economy posts a marginal growth to wrap up Q4 last year. This article was written by Justin Low at www.forexlive.com.

Fundamental Overview The USD performance has been mixed this week amid general uncertainty ahead of the April 2 tariffs plan announcement. The greenback got a bit of a boost recently as Trump announced 25% tariffs on auto imports on Wednesday but those gains eventually waned. Overall, the market is still pricing between two to three

Core PCE (excluding food & energy): Prior was +2.6% Core m/m +0.4% vs +0.3% exp Unrounded core PCE % vs +0.285% m/m prior PCE excluding food, energy and housing % m/m vs +0.3% m/m prior Supercore (services ex-shelter) % m/m and % y/y Headline PCE Headline PCE +2.5% y/y vs +2.5% expected Deflator +0.3% m/m

US initial jobless claims 224K vs 225K estimate US February advanced goods trade balance -$147.391 billion vs -$155.5 billion expected US Q4 final GDP +2.4% vs +2.3% expected US February advance wholesale inventories +0.3% vs +0.4% expected US February pending home sales +2.0% vs +1.0% expected Australian PM set to call a May 3 election

Barclays says there is a fall ahead =for the yuan, that markets have not yet ‘priced in’ higher tariffs. see fundamental reasons for the yuan to fall says the yuan has resilience since the US election, but “Despite this, we expect continued pressure on China’s balance of payments dynamics owing to tariffs” scope for large-scale

The ranges of estimates are important in terms of market reaction because when the actual data deviates from the expectations, it creates a surprise effect. Another important input in market’s reaction is the distribution of forecasts. In fact, although we can have a range of estimates, most forecasts might be clustered on the upper bound

The median for inflation expectations over the next 12 months and for 3 years ahead remains unchanged at 2.6% and 2.4% respectively in February, similar to that of January. But the median rate of perceived inflation over the previous 12 months fell further to 3.1% – its lowest since September 2021. But more importantly perhaps

Japan might be one that is most impacted by Trump’s auto tariffs but given the nature of their relationship with the US, any major retaliation is off the table. This article was written by Justin Low at www.forexlive.com.

Trade war would mostly impact economic growth Disinflation process is continuing, goal to be reached in the coming months Trade war impact on inflation would be offset over the medium-term amid lower growth It might be a stretch, but the headline remark could be teasing a pause. At the same time though, he’s talking up

The Wall Street Journal (gate) is reporting that Trump has warned US automakers not to raise prices: Trump told the executives that the White House would look unfavorably on such a move, leaving some of them rattled and worried they would face punishment if they increased prices, people with knowledge of the call said. Instead,

Gold continues to rise, strong demand from Asian central banks and other central banks is supporting the price, along with those seeing comfort from rising geopolitical risks. I posted yesterday on Goldman Sachs’ forecast – its one of the loftiest I have seen. China has been one of the big buyers. This article was written

Dollar expected to be bid on month-end – Deutsche Dollar the flavour this month-end, quarter-end – Barclays They’re not always accurate but it’s always good to have this in your back pocket just in case. So, yeah. This article was written by Justin Low at www.forexlive.com.

The Reserve Bank of Australia is expected to leave its cash rate unchanged at its March 31 / April 1 meeting. Earlier: Poll shows expectations are for the Reserve Bank of Australia to stay on hold next week All 39 economists surveyed by Reuters expect the Reserve Bank of Australia to keep the cash rate

Full text of the Bank of Japan Summary of Opinions of the March 18 and 19 meeting is here. One member said inflation is somewhat overshooting expectations. One member said wage hikes in spring wage talks are somewhat exceeding last year’s figures, with nominal wages rising at a pace in line with the achievement of

Chinese President Xi Jinpingmet with CEOs of such firms as BMW, Mercedes, Qualcomm. As the US appears to be pulling back on global ties China is stepping up. This article was written by Eamonn Sheridan at www.forexlive.com.

A hotter-than-expected reading on Tokyo inflation has strengthened the case for a Bank of Japan rate hike as soon as May, according to ING, which points to signs of broadening price pressures across both goods and services. Consumer price inflation in the Japanese capital rose to 2.9% year-on-year in March, up from a revised 2.8%

Prior -24.7; revised to -24.6 It’s only a slight improvement as NIM consumer expert, Rolf Bürkl, notes that: “Apparently, the elections and the prospect of a new government have lessened pessimism among a number of consumers. However, the renewed rise in the willingness to save is clouding the overall picture. It prevents a stronger improvement

Data from New Zealand, ANZ-Roy Morgan Consumer Confidence Falls to 93.2 in March 2025 prior 96.6 This article was written by Eamonn Sheridan at www.forexlive.com.

Federal Reserve Bank of Boston President Susan Collins: Cautiously, realistically optimistic about the economy. Economy started 2025 in a good place. Inflation had come down but was still elevated at the start of the year. The outlook now is much cloudier for inflation and growth. Inevitable tariffs will increase inflation in the near term. It

Federal Reserve Bank of Richmond President Barkin: Current moderately restrictive stance is a good place to be. If conditions shift, the Fed can adjust. Current levels of uncertainty could dampen consumer and business spending. Federal government policy currently at center stage. The pace of change has created a sense of instability. Direction of federal policy

Coming up from the Federal Reserve at the bottom of the hour, 2030 GMT / 1630 US Eastern time: Federal Reserves Barkin and Collins speaking after US RTH close on Thursday Tokyo area inflation data follows later. This article was written by Eamonn Sheridan at www.forexlive.com.

1615 GMT / 1215 US Eastern time: Federal Reserve Board Governor Michael Barr participates in “Banking Policy” discussion before the 2025 Banking Institute event hosted by the University of North Carolina Law School Barr resigned from his position as Vice Chair for Supervision of the Federal Reserve Board, effective February 28, 2025. However, he continues

Morgan Stanley expects a firmer reading in February’s core personal consumption expenditures (PCE) price index, forecasting a monthly gain of 0.35%. The bank attributes the strength to persistent goods inflation and a rebound in core services prices excluding housing. In contrast, the headline PCE index is projected to rise by a slightly softer 0.32% month-on-month,

0830 GMT / 0430 US Eastern time Online remarks by ECB board member Luis de Guindos at conference “VI Cumbre FEDEPE” organised by FEDEPE (Federation of Female Professionals) Ears open for any hints at the path ahead for the European Central Bank. This article was written by Eamonn Sheridan at www.forexlive.com.

All three of the measures have come in above expected, and all of them above (or equal to in the case of the headline) the February reading. To round it out, all three are also above the Bank of Japan 2% target. At the margin you’d think that this is positive for a Bank of

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

The latest poll on the Reserve Bank of Australia from Reuters, in brief: RBA to hold steady in April: All 39 economists surveyed by Reuters expect the Reserve Bank of Australia to keep the cash rate at 4.10% on April 1. Two cuts expected in 2025: Median forecast sees 25 bps cuts in May and

Mexico’s peso has shown resilience in early 2025, gaining about 3.2% against the U.S. dollar, but Wells Fargo expects it could weaken ahead. The currency remains overvalued, according to the bank, and faces growing headwinds—including a likely recession triggered by potential U.S. tariffs and the risk of sovereign credit downgrades. Wells Fargo projects Mexican GDP

Federal Reserve speakers on Friday include Barr and Bostic Chinese President Xi Jinping met with global CEOs in Beijing on Friday China unveiled a plan to enhance the sustainability of its aluminum industry by 2027 European Central Bank board member Luis de Guindos speaking Friday US inflation (PCE) data due Friday – critical ranges to

​China has unveiled a comprehensive plan to enhance the quality and sustainability of its aluminum industry by 2027. Spearheaded by ten government departments, including the Ministry of Industry and Information Technology, the initiative sets ambitious targets:​ Increase Domestic Bauxite Resources: Aiming for a 3%–5% boost to reduce reliance on imports.​ Expand Recycled Aluminum Output: Targeting

I have long brushed-aside talk of de-dollarization; around ideas like a BRICS currency, I’ve mocked it. But a note from Deutsche Bank today has me seeing new ways that that dollar dominance could erode, if not collapse. They call it a nuclear button for the US dollar and it’s the FX swap line system. It

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

JPMorgan estimates the S&P 500’s fair value at around 5400, implying the index is about 6% overvalued. However, the bank views this premium as modest and likely to be offset by earnings growth and strong U.S. liquidity trends. Using a 4.8% discount rate—just below the 10-year average—JPMorgan says valuations are slightly elevated but not alarming.

Australian national election will be on May 3, Prime Minister Anthony Albanese has (finally) set the date. The current government in Australia is centre-left, while the opposition is centre-right. Australian financial markets are rarely troubled too much by a change in government. The differences between the two sides are rarely vast. We await official election

The data post is here: Tokyo February headline CPI +2.9% y/y (2.7% expected) I pointed out there that: All three of the measures have come in above expected, and all of them above (or equal to in the case of the headline) the February reading. To round it out, all three are also above the

Australian PM set to call a May 3 election This article was written by Eamonn Sheridan at www.forexlive.com.

I had a chance to speak with Dale Pinkert at ForexAnalytix today on tariffs and a dozen other things that are driving markets right now. The people in the webinar were teeing up comments like “wow, he’s so outspoken” so I must have said something notable. This article was written by Adam Button at www.forexlive.com.

Federal Reserve Bank of Richmond President Barkin: My instinct on auto tariffs is that the top line number will not be the increase that is faced by consumers given competition, exchange rates, other issues Auto companies will face challenges in passing tariffs through to consumers, given competition in market-relative prices will matter a lot Companies

The price of WTI crude oil is settling at $69.92. That’s up $0.27 or 0.39%. The high price reached $69.97. The low price was at $69.12. Looking at the daily chart, the 100-day moving average comes in at $70.66. That is the next key target on the topside. Above that and the 38.2% retracement of

Trump speaking imminently – stay tuned! This article was written by Eamonn Sheridan at www.forexlive.com.

Bitcoin Analysis Today: TradeCompass Levels and Strategy Map (March 27, 2025) Live Price at Analysis: $87,175 tradeCompass delivers a clear, structured map for trading Bitcoin futures today. This directional framework outlines key breakout levels, partial profit targets, and risk management zones for both bullish and bearish scenarios—designed for traders who need clarity and control in

I appeared on BNNBloomberg on Wednesday (unfortunately without a chance to shave) and spoke about what’s priced in for US tariffs on Canada and the rest of the world. If you haven’t read it yet, I did a deep dive on what’s priced in for tariffs earlier today. This article was written by Adam Button

The AUDUSD continues to coil between key technical levels, as traders await a decisive breakout. For most of the day, the pair has traded in a tight range between the 100-hour moving average at 0.6296 and the 200-hour MA at 0.6316, reflecting a broader indecision in the market. Price action has shifted above and below

Major European indices are closing the day mostly lower. Spain’s Ibex little changed but down. Italy’s FTSE MIB up marginally. German DAX -0.77% France’s CAC -0.51% UK’s FTSE 100 -0.27% Spain’s Ibex -0.07% Italy’s FTSE MIB +0.10%. As London/European traders look toward the exits, US stock indices are trading lower in what has been an

NZDUSD is currently trapped in a tight range, ping-ponging between key moving averages as traders await a decisive breakout. The 200 bar MA on the 4-hour chart at 0.57113 is acting as support, while the 200 hour MA at 0.57618 caps the upside. In between lies a confluence of technical levels: 100 bar MA on

US is serious about Greenland US will promote its interests in the Arctic Concern that NATO sees the North as the possible foothold for conflicts. Russia has never threatened anyone in the Arctic There is possibility of cooperation in Arctic, including with Western states. Russia has to boost a fleet of icebreakers Russia will increase

Update: Carney’s spokeswoman says they have not spoken. We will keep a close eye to see what leaks out. Hopefully it’s a chance for a reset but I’m not holding my breathe. This article was written by Adam Button at www.forexlive.com.

Paul Tudor Jones is a famous billionaire hedge fund manager. In an interview he gave to Jack Schwager and later published in the book “Market Wizards”, Paul reveals that he “doesn’t just use a price stop, but also a time stop”. Beginner traders are taught to use a stop loss to avoid big losses and

The US Congressional Budget Office is out with its latest budget deficit numbers. Note that these are based on current laws and that would mean the expiration of the Trump tax cuts (from 2017) at the end of this year. Those are almost-certainly going to be extended so you can assume these numbers will be

The sellers in USDCAD had their opportunity on the break below the bottom of the Red Box consolidation zone at 1.4268 and the 100-day moving average at 1.4260. However, the bearish push failed to gather momentum, with price holding just above the March 6 low at 1.4238. That failure to break lower has shifted the

China will extend its stamp duty exemption on offshore trading from April 2025 to December 2027, in a move aimed at supporting market liquidity and encouraging greater foreign investor participation. The extension signals Beijing’s continued efforts to bolster confidence in its capital markets and attract longer-term international capital. The exemption primarily applies to trading activity

After a 14% pullback over four weeks, the NASDAQ futures (NQ1!) have retraced around 7% in just the past week and a half. The price climbed steadily into the top band of the rising channel, only to stall out. That’s where the market sent its usual message: no free rides for late bulls. Anyone who

The auto tariff news is here from Wednesday afternoon US time: Trump slaps a 25% tariff on all cars not made in the USA The USD has risen after Trump’s announcement of 25% tariff on all autos not made in USA Recap of Trump’s 25% auto tariff on foreign-made cars starting April 2nd Trump has

PS ab The EURUSD opened the day trading down to new lows going back to March 5. Concerns about Trumps auto tariffs sent the pair lower. However, the price bounced from a key confluence of support that included the 38.2% retracement of the recent upswing from the February 28 low, and the 200-day moving average

For years, warnings about the dollar’s impending collapse have centered on two major concerns: the rapid rise in U.S. public debt, which is growing by $3.65 trillion a year, and the soaring costs of servicing that debt. If we take a closer look, the figures are indeed alarming: debt held by investors, corporations, foreign governments,

High yield 4.233% WI level at the time of the auction 4.227% Tail +0.6 basis points vs 6 month average of -1.3 bps Bid to cover 2.53X vs six with average of 2.69X Dealers 12.67% versus average of 9.05% DIrects 26.1% versus six month average of 19.64% Indirects 61.2% versus six-month averages 71.31% . Auction

If find some of the discourse around tariffs to be downright funny. You have some supposedly-smart people saying they think tariffs will be ‘lower-than-expected’ and then you ask them what is expected and they have no idea, they don’t even have a concept of an idea. It’s all vibes. I get this, because it’s so

Eurostoxx -1.1% Germany DAX -1.4% France CAC 40 -1.1% UK FTSE -0.6% Spain IBEX -0.9% Italy FTSE MIB -1.3% It’s not looking pretty as European indices are eyeing another weekly decline this month. German stocks are hit the hardest this morning as auto tariffs are weighing especially. Germany sits just behind Mexico, Japan, South Korea,

US auto tariffs impact global supply chains It is now about delivering a decisive response from the EU No country can achieve prosperity through imposing additional tariffs We will support EU efforts to find a solution through negotiations Well, counter-tariffs are surely to be on the way once we move past 2 April. The escalation

The EURUSD and the GBPUSD are higher after initial dips after the auto tariff announcement by Pres. Trump early in the new trading day, did not find follow through selling. For the EURUSD, it ran into some key support. The post from yesterday highlighted that key support. Watch the video above to see what levels

But they do say that their response will be “timely, robust and well-calibrated”. Well, they still have until 2 April to identify what that will be. If anything else, counter-tariffs are very much expected at the very least. This article was written by Justin Low at www.forexlive.com.

With tears taking center stage, the Russian/Ukraine war is more on the back burner once again. There was supposed to be a cease-fire at least on infrastructure/energy targets. Ukraine Pres. Zelenskyy is saying that is not the case: Ukraine will give US evidence of Russia violating cease-fire. Expects reaction from Washington as promised. My guess

Barclays today highlighted that finished automobile exports are 5% of Mexico’s GDP. Yet with 25% tariffs announced yesterday, the peso is only down 0.8% and it’s still above when Trump was re-elected. The market thinks it’s all a bluff. Now, Canada’s Globe & Mail reports that Ontario “expects the US administration to significantly ease the

USDCHF remains confined within a well-defined consolidation range between 0.8795 and 0.8848. The 0.8848 level is a strong ceiling after repeatedly capping upside attempts, as indicated by multiple touches (marked 1 through 8). Those highs, highlight the significance of this resistance zone. Needless to say, a sustained break above 0.8848 would be a bullish signal,

Sector Overview The automotive manufacturing sector is exemplifying strong movement today, with Tesla (TSLA) leading the charge at an impressive +4.10%. This solid rise reflects investor optimism and potential growth in the electric vehicle market. However, on the downside, the semiconductor sector is facing notable struggles, with major players like Broadcom (AVGO) dropping 2.56% and

Increase in long term yields, all things being equal, tightens financial conditions. France needs to bring back deficit to 3%. This article was written by Giuseppe Dellamotta at www.forexlive.com.

US consumer confidence is plunging but spending isn’t. The latest spending data from Bank of America shows overall spending up year-over-year despite an 8-9% decline in gasoline prices. There are some worrisome signs with spending on lodging, airlines and entertainment dropping but overall the consumer is holding up, with the latest numbers show an acceleration

Prior week 223K revised to 225K initial does claims.224K vs 225K estimate 4 week moving average of initial jobless claims 224K vs 228.75K last week. The 4 week MA is the same as the number for the week. Continuing claims 1.856M vs 1.888M estimate. Prior week revised to 1.881M from 1.892M. 4 week moving average

Shares of Tesla are sharply in trading today. Shares are currently up $19 or 6.99% of $291. The high price has reached $291.85 while the low price was down at $271.82. Technically, the share price is showing bullish momentum after holding key support at $265.13 yesterday, a level tied to prior swing lows (see red

Headlines: Gold shines as we draw closer to Trump tariffs deadline The DAX index falls as auto stocks get slammed on Trump’s 25% tariffs Trump threatens “large scale” tariffs on EU, Canada if they cause economic harm to the US German economy minister: We must be clear that we will not back down to US

Prior was -4.6% Year over year transactions -3.6% vs -5.2% prior Index at 72.0 vs 70.6 prior (was at a series low) “Despite the modest monthly increase, contract signings remain well below normal historical levels,” said NAR Chief Economist Lawrence Yun. “A meaningful decline in mortgage rates would help both demand and supply – demand

The GBPUSD has been in a steady uptrend since bottoming at 1.20987 on January 13, a low that aligned closely with support levels from September and October 2024 (see red circle on the daily chart). Since then, the pair has continued to step higher, carving out a series of higher lows and higher highs. In

Politico is reporting that the European Union is likely to face a flat, double-digit tariff on all goods exported to the U.S. as part of “reciprocal tariffs” expected to be formally announced by former President Donald Trump on April 2 and take effect at midnight on April 3. This is according to European diplomats. The

We are going to give a response after April 2 Within a free trade agreement, there should not be tariffs The door is open to talk with the US We will do what is best for Mexico Economy minister Ebrard: We are at a negotiating table with US Commerce Secretary to protect autoparts made in

Escalate to de-escalate? Why US tariffs may be lower than feared Politico: EU tariffs could be as high as 20-25% Trump slaps a 25% tariff on all cars not made in the USA Recap of Trump’s 25% auto tariff on foreign-made cars starting April 2nd Trump has allowed a one-month tariff exemption for auto parts

Trump said he may reduce tariffs on China to help facilitate a deal for ByteDance to sell TikTok’s U.S. operations. He suggested a small tariff reduction could help get the deal done but noted tariffs are worth more than TikTok overall. Trump also indicated he might extend the deadline for the TikTok sale again. Trump

The world is struggling to understand whatever tariff strategy the US is trying to roll out and so far taking it in stride. If the economy starts to roll over, that will change in a hurry. One early indication will come from initial jobless claims and there is a risk that when it gets bad,

UBS outlined three reasons to favour U.S. artificial intelligence firms over those of China: Higher Capex: U.S. AI firms are investing more heavily (20% vs. China’s 11.7%), reinforcing long-term competitive advantage. Stronger R&D: Greater U.S. research spending boosts chances of breakthrough innovations. Better Monetization: U.S. companies have clearer paths to turning AI advances into revenue

In the European session we don’t have anything on the agenda other than a couple of low tier data releases. In the American session, we get the final US Q4 GDP and the US Jobless Claims. The GDP report is old news and the market won’t care about it, so the focus will be on

ECB diGuindos is no the wires saying: We are optimistic with regard to inflation. We believe that will converge toward target in coming quarters on a stable basis Main impact of tariffs on growth and short lived impact on inflation For growth, trade war is extremely detrimental. Need to be very prudent with policy This

Fundamental Overview Gold got a bit of a boost yesterday on renewed tariffs fears as Trump announced 25% tariffs on imported autos. The threat of higher inflation in the short term coupled with lower growth is keeping the precious metal supported. In the bigger picture, as long as the Fed doesn’t change its reaction function

I posted earlier on moves in China to dump bad property-related loans: China sets record in bad asset disposals, shifts focus to housing market More now: China’s major banks are speeding up property loan write-offs under regulatory pressure to clean up balance sheets and support the broader economy. Regulators, including ICBC, have been urged to

Details: Advance Q4 GDP reading was +2.3% Second reading was +2.3% Q3 GDP was +2.8% Final sales 3.3% vs +3.2% second reading Consumer spending 4.0% vs +4.2% second reading Inflation numbers: GDP deflator 2.3% vs +2.4% second reading Core PCE 2.6% vs +2.7% second reading PCE prices final 2.4% vs +2.4% second reading PCE service

There are a couple to take note of on the day, as highlighted in bold. The first ones are for EUR/USD at the 1.0750 and 1.0800 levels. The latter is still a key draw for the pair and the expiries could help to keep price action more locked in during European trading later. As a

In case you missed it, Trump announced 25% tariffs on imported autos late yesterday. This is weighing on European auto stocks today with notable losses for Mercedes-Benz Group and BMW exceeding 5%. Technically, we can see in the 4 hour chart below that we have a strong support zone around the 22,223 level where we

The mix of cooling AI investment and a White House looming announcement (4 pm ET scheduled) of auto tariffs put the market in the mood to lower risk: S&P 500 -1.1% Nasdaq Comp -2.0% DJIA -0.3% Russell 2000 -1.8% Toronto TSX Comp -0.8% This article was written by Adam Button at www.forexlive.com.

Prior was +0.8 Retail inventories ex auto +0.1% vs +0.5% prior This article was written by Giuseppe Dellamotta at www.forexlive.com.

Press Secretary Karoline Leavitt reiterated some of the things that have been coming out of the White House: “He thinks that some of these numbers would be more conservative than many people are expecting,” she said today. So what is actually expected? Here is a Deutsche Bank survey: This article was written by Adam Button

Don’t Overreact to Headlines — The Market Has a Short Memory Why most news doesn’t matter as much as it feels — and how to stay focused on what actually moves markets over time. “If you react to every headline, you’ll miss the story.” Most News Doesn’t Matter — Even If It Feels Urgent Headlines

Rate cuts by year-end Fed: 62 bps (85% probability of no change at the upcoming meeting) ECB: 56 bps (82% probability of rate cut at the upcoming meeting) Following the announcement of 25% tariffs of auto imports, traders increased the expected easing from 51 bps to 56 bps. BoE: 45 bps (56% probability of rate

The NASDAQ index has opened lower, but is seeing a modest bounce in early trading. The price action reflects the the ongoing tug-of-war between buyers and sellers. Monday’s Gap Higher: The index saw a notable gap higher on Monday, with prices moving up toward the 38.2% retracement level of the decline from the February high

News here: Trump slaps a 25% tariff on all cars not made in the USA The US dollar is higher. EUR/USD to 1.0740 as I post: This article was written by Eamonn Sheridan at www.forexlive.com.

Trump’s announcement of the 25% auto tariffs was earlier. I’ve summarised the main points, as Trump covered a lot of separate ground (lumber, drugs, April 2 etc) and it was all a bit jumbled. a new 25% tariff on all cars and light trucks not manufactured in the United States will be on top of

China’s Vice Premier Ding Xuexiang: Will strive to achieve full-year growth target Will implement more pro-active macro policies this year Improving trend in China’s economy has become more consolidated Will resolutely oppose protectionism There is a significant rise in uncertainties in the world Will prompt development of private firms Says will study issues concerning foreign

Prior was -155.5 billion This article was written by Adam Button at www.forexlive.com.

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

Barclays has cut their 2025 target for the benchmark US index to 5,900 was previously at 6,600 Analysts say the ‘bear case’ is as low as 4400 bull case is 6700 Citing: tariffs deteriorating economic data will be tough for stocks to work versus deteriorating consumer sentiment, lower growth, higher inflation and tariffs industrials look

The European Commission has advised that every citizen should stockpile enough food to be self-sufficient for at least 72 hours in case of crisis, the European Commission. The FT had the report, gated. POLITICO gave the heads up a little earlier, prior to the EU statement: Preparedness Union Strategy Every citizen should stockpile enough food

Prior +3.6% Broad money growth in the euro area continues to hold up with the ECB still on a more easy policy path. Loans to households also were seen up 1.5% compared to 1.3% in January and loans to non-financial institutions were also up 2.2% compared to 2.0% in January. This article was written by

The S&P500 yesterday had a rough day as it got hit by a wave of selling basically for the entire session with just a lil bounce before the market close. The move seemed more of a technical pullback caused by the underlying uncertainty ahead of April 2 rather than something else as we got the

Goldman Sachs is maintaining a constructive view on Chinese equities, citing “more fundamental upside” ahead, but cautions that the recent rally may soon lose momentum. In a note published Wednesday, the investment bank said it expects the bull market to slow in the near term, with profit-taking pressures likely to emerge as U.S.-China policy and

This report is more useful when it’s released before Canadian retail sales but RBC is out today with its latest data on Canadian cardholder spending. Canada’s largest bank said card transactions fell 0.2% in February, which is largely consistent with the -0.4% decline in the advance retail sales report. Sales were influenced by poor February

China data: January – February Industrial profits -0.3% y/y (prior -3.3%) A fall in profits (a three-year trend) and tariffs ramping higher is not good combination. China tends to announce January / February data as one, to account for the moveable Lunar New year holidays each year. This article was written by Eamonn Sheridan at

Daiwa Capital Markets has lowered its price target on Tesla to $300 from $420, reflecting growing concerns about the company’s profit margins and slowing demand growth in key markets. In a note to clients, the brokerage said that intensifying competition, particularly in China and Europe, along with price cuts across Tesla’s lineup, are likely to

This comes from the folks at eFX Nomura: Retains Long JPY Bias Amid Tariff Uncertainty and Domestic Policy Sensitivity By eFXdata Synopsis: Nomura maintains a long JPY bias, citing heightened uncertainty around US tariff policy, the Bank of Japan’s sensitivity to yen weakness, and domestic political focus on inflation control. While the BoJ is not

Daiwa cuts Tesla price target to $300, citing margin pressure and demand concerns Japan warns of “significant impact” from new U.S. tariffs European Central Bank’s Buch, de Guindos, Escrivsa, Schnabel all speak on Thursday China to extend stamp duty relief for offshore trading through end-2027 Bank of England Monetary Policy Committee member Dhingra speaks on

2030 GMT/1630 US Eastern time: Federal Reserve Bank of Richmond President Thomas Barkin delivers the H. Parker Willis Lecture in Political Economy at Washington and Lee University, in Lexington, Va 2030 GMT/1630 US Eastern time: Federal Reserve Bank of Boston President Susan Collins speaks on the economy and monetary policy in a fireside chat sponsored

The Trump’s announcement of 25% tariffs on auto imports yesterday weighed on the euro as traders increased slightly their bets for more ECB easing this year on the expected hit on the European economy. The EU-US yield differentials have been moving more in favour of the US in the recent weeks as the spike following

The Dallas Fed Energy Survey is a quarterly survey conducted by the Federal Reserve Bank of Dallas that provides insights into the oil and gas sector, particularly in the Eleventh Federal Reserve District, which includes Texas, northern Louisiana, and southern New Mexico — a key region for U.S. energy production. The latest survey was released

A rate cut pause in April should be on the table. Inflation risks might be on the upside. The likelihood of a rate hike in 2025 is limited. Tariffs would be bad for growth and inflation. ECB is facing a difficult balancing act. Wunsch has been warning about cutting rates too fast as the risks

After some consolidation just above $3,000 since last week, gold is starting to ratchet higher again in trading today. With broader markets caught in a wave of uncertainty on what will happen with Trump’s tariffs, gold continues to shine brightly and is keeping bid once more. The brief pause above $3,000 saw price action folding

The UK is in intensive tariff talks with the Trump administration. I believe in free and open trade. I want UK-US trade flows to continue to be strong. Trade frictions will make it harder to grow the economy. We don’t want to see additional tariffs. I would like to see tariffs between countries fall. That

But uncertainty is really high and geopolitics is the main cause of that The odds of a rate cut next month are at ~76% now. So far, policymakers are not decisively offering much to convince that they might hold off from cutting again. And Kazāks’ headline remark above exemplifies the narrative at the moment. This

0830 GMT/0430 US Eastern time: Bank of England Monetary Policy Committee member Swati Dhingra takes part in a panel discussion at the South African Reserve Bank subject matter is lessons from the UK about inflation-targeting in the post-pandemic period Dhingra tends towards the dovish end of the BoE MPC spectrum. At last week’s meeting she

Westpac economists are confident the Reserve Bank of Australia will leave the cash rate unchanged at its next policy meeting on 1 April, describing the gathering as a “dead rubber” in the context of the broader monetary policy outlook. While the bank maintains its call for a rate cut in May, it argues that consecutive

I posted on Morgan Stanley boosting its China view earlier: Morgan Stanley upgrades China equities – both mainland and Hong Kong Adding a little more now, their view on the currency. Morgan Stanley has reiterated that currency strength plays a critical role in the performance of Chinese equities, particularly in offshore markets. In a recent

This was telegraphed but Pres. Trump is saying: Going to be making a special announcement on cars Going to go in terms on cars This article was written by Greg Michalowski at www.forexlive.com.

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

The firm’s month-end model is signaling strong dollar demand against all the major currencies while its quarter-end model is signaling moderate dollar strength to end Q1 trading. They do note that both models are using the same framework and with the latter, it is also predicting strong USD demand against the EUR for quarter-end. Against

German DAX futures -0.9% UK FTSE futures -0.3% This follows the selloff from yesterday with European indices now poised for a down week. The negative mood comes despite a more muted tone in US futures so far today, as well as the selling in Wall Street yesterday owing largely to tech shares. But this story

Central bank is focused on more price-based policy tools China has sufficient room for monetary policy Will cut interest rates, RRR at appropriate time Will use various policy tools to keep liquidity ample This continues the rhetoric from just before the National People’s Congress earlier this month. The Chinese central bank continues to allude to

Trump’s added 25% tariff announcement earlier: Trump slaps a 25% tariff on all cars not made in the USA The USD has risen after Trump’s announcement of 25% tariff on all autos not made in USA Recap of Trump’s 25% auto tariff on foreign-made cars starting April 2nd Trump has allowed a one-month tariff exemption

This reinforces the note from Barclays here. According to Deutsche, the dollar stands poised to benefit going into month-end but especially against the NOK. The firm argues to fade any USD/NOK weakness leading up to the month-end trade date itself as positioning flows may lead to outsized moves in the pair. They note that the

The investment flow data from Japn is unlikely to move yen upon release. This article was written by Eamonn Sheridan at www.forexlive.com.

Coming up from the European Central Bank on Thursday, March 27, 2025: 0900 GMT/0500 US Eastern time Introductory statement by ECB board member Claudia M Buch at ECON Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels, Belgium Buch is Chair of the ECB Supervisory Board 0900 GMT/0500

“If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!” This will at least keep a lid on any

TD Securities notes that the Shanghai Gold Exchange has admitted four major Chinese life insurance companies as members under a new pilot program, potentially paving the way for a significant surge in institutional gold demand. The inclusion grants these insurers access to purchase gold directly through the exchange—marking a notable shift in policy that could

Pres. Trump: Going to go with tariffs and cars Treasury Sec. Bessent: Trump would not hesitate to raise sanctions on Russia Politico: EU tariffs could be as high as 20-25% All the tariff talk is a distraction from the world-changing shifts in AI and robotics Canadian consumer spending held up ok in February – RBC

From GME’s announcement: GameStop expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy. This was flagged last week: GameStop to invest corporate cash in bitcoin This article was written by Eamonn Sheridan at www.forexlive.com.

Japan’s government has expressed serious concern over the potential fallout from newly announced U.S. tariffs, warning of risks to both bilateral economic ties and global trade stability. Chief Cabinet Secretary Yoshimasa Hayashi said on Thursday that Tokyo is closely monitoring the situation following President Donald Trump’s announcement of additional tariffs. Speaking at a press briefing,

Treasury Sec. Bessent is speaking on Fox news and says: Pres. Trump would not hesitate to raise sanctions on Russia if it were to give him a negotiating advantage This article was written by Greg Michalowski at www.forexlive.com.

News from earlier is here: Trump slaps a 25% tariff on all cars not made in the USA The USD has risen after Trump’s announcement of 25% tariff on all autos not made in USA Recap of Trump’s 25% auto tariff on foreign-made cars starting April 2nd Now hearing that ther will be a 1

Still waiting on Trump’s auto tariff announcement. It was due at 4pm US Eastern time. Trump a little behind schedule. Stay tuned! This article was written by Eamonn Sheridan at www.forexlive.com.

Trump slaps a 25% tariff on all cars not made in the USA (is in addition to tariffs already in place,) Trump says others will come into the USA and build plants an aide adds there will be tariffs on light trucks also will be another round of tariffs on April 2 people will be

Goldman Sachs has raised its year-end 2025 gold price forecast to USD 3,300 per ounce, up from a previous estimate of USD 3,100. The investment bank also widened its projected trading range to USD 3,250–3,520, citing continued strong demand from Asian central banks. According to Goldman, large-scale gold purchases by these central banks are likely

This week, we got another dose of the leaps that are imminent in AI but at the same time, the market signals are being lost. Microsoft is cutting AI spending and that’s leading to a heavy selloff today in AI names with Nvidia down 6.3%. The driver of this is because AI is becoming cheaper

Some Geopolitical news: Ukraine’s Zelenskyy expects US to ensure a cease-fire is without conditions despite Russian claims. Sanctions against Russia should remain in place Meanwhile France’s Macron says Russia reinterpreting what was agreed in cease-fire talks France to provide military support to Ukraine of EUR $2B Wants to mobilize partners on Thursday to increase military

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

EURUSD has broken below the swing area between 1.07609 and 1.07767, pressured by renewed tariff headlines and inflation concerns, which were echoed in more hawkish comments from Fed’s Musalem. The decline also takes price further below the 100-hour moving average at 1.0812 (and moving lower), reinforcing the bearish momentum as sellers continue to press lower.

The market is reluctant to fully embrace it but the picture around April 2 tariffs is improving. Late yesterday, a report from the Toronto Star said Canada would be at the bottom end of tariffs. Mexico is presumably in the same boat, given it’s on the same trade agreement. In addition, Trump said this week

The Fed’s Musalem is a hawk so it’s not shocking that he is mentioning rate hikes but it’s the first utterance of the H-word in the current cycle. He said that he is wary of assuming all tariff-related price increases will be temporary as second-round effects could be more-persistent. If second round effects become apparent

For all the tariff talk this year, there is a compelling argument that all the weakness in US stock markets is really just Mag7 euphoria fading, in part because of confusion about how AI will play out. I’m a big believer but there will be an ebb and flow and this might be the flow

Press Secretary Karoline Leavitt, in today’s briefing confirmed that Trump will announce auto tariffs at 4 pm ET today. Reports on what is coming are scarce. It’s not at all clear who these will target, when the will go into effect and if they will also be on auto parts. The market has tilted on

Various indicators show underlying inflation moving towards 2% inflation sustainably Some effects of monetary policy steps appear with a lag Want to scrutinise how policy decisions so far could affect the economy Neutral rate is an important means in deciding monetary policy But need to take into account features of various data, models, and assumptions

Generally agreed that new data had shifted the balance, with somewhat less risk of lower inflation outcomes Would probably have left rates unchanged if not for tariff risks A 25 bps cut would provide some help to Canadians to manage the uncertainty around tariffs Some officials suggested keep rates unchanged until there was more clarity

Headlines: UK February CPI +2.8% vs +3.0% y/y expected Sterling eases after cooler UK inflation but outlook remains challenging Traders increase bets for BoE rate cut at the May meeting after the UK CPI release ECB’s Villeroy: Trump tariffs would have limited impact on euro area inflation Fed’s Goolsbee: We’re no longer on the golden

St. Louis Fed’s Musalem: Growth does appear to have slowed, surveys point to caution among businesses and consumers Patience with current policy appropriate as Fed gathers evidence inflation is returning to target Risks that inflation will stall above 2% or move higher in the near term appear to have increased Wary of assuming all tariff-related

tradeCompass – Gold Futures Analysis for Today Live price of Gold Futures (GC1!) at the time of this analysis: $3,026 Gold Futures Analysis: Bullish Bias Above $3,024 At the time of writing, gold futures are trading at $3,026, and the current gold analysis for today sets a bullish bias above $3,024. That level is significant

The latest from the WSJ ahead of today’s tariffs: The White House is also weighing plans to impose tariffs on finished vehicles coming into the U.S. but not automotive parts, according to Sen. Bernie Moreno (R., Ohio) and other people familiar with the discussions. Moreno also revealed more of Trump’s tariff strategy: Trump’s economic team

It’s tough to get comfortable ahead of April 2 even as the Trump administration dials down tariff threats. There are many ways this can go wrong and after the leaks in the Atlantic, you get the sense this administration is making it up as they go. The latest leg lower came after a Bloomberg report

Growth recovers to average around 1.75% over the rest of the decade OBR: underlying fiscal outlook has deteriorated since October if global trade disputes escalate to include 20 pct pt rises in tariffs between the USA and the rest of the world, this could reduce UK GDP by a peak of 1% and reduce current

USDCHF continues to trade within a well-defined range between 0.8794 and 0.8848, with price action currently consolidating just below the top of that band. Earlier today, the pair found support at the 100-hour moving average (0.8827), helping to maintain a modest bullish bias in the short term. However, momentum now faces a critical test. The

High yield 4.910% WI level at the time of the auction 4.095% Tail +0.5 basis points versus six-month average of -0.1 basis points Bid to cover 2.33X versus six-month average of 2.40X Directs (domestic demand) 10.97% versus six-month average of 18.9% Indirects (international demand) Dealers 13.2% versus six-month average of 11.9% This article was written

Rabobank are expecting EUR/USD to head up to 1.12, on a one-year outlook. Analysts at the bank say that the immediate rally in EUR/USD has come off the boil, but the move unto below has 1.0800 has seen buyers emerge. They add they see some near-term, 1- to 3-month, weakness before it resumes its climb.

Japan Services Producer Price Index (February 2025) comes via the Bank of Japan: +3% y/y expected +3.1%, prior also +3.1% for the m/m comes in at no change, 0% prior -0.5% This article was written by Eamonn Sheridan at www.forexlive.com.

There is a lot of uncertainty about tariffs A lot of the sentiment shift is about tariffs It’s conceivable the hit to confidence could be bigger than the tariffs themselves The good news is that there are resolutions of trade uncertainty and confidence could be restored I take very seriously the hit to confidence, the

The major European indices are closing mostly lower. A snapshot of the closing levels shows: German DAX, -1.14% France’s CAC -0.96% UK’s FTSE 100 +0.30% Spain’s Ibex -0.39% Italy’s FTSE MIB -0.83% As London/European traders and for the exit, the broader US stock indices are sharply lower led by the NASDAQ index with a decline

Prior +0.8% Overall, the Spanish economy grew by 3.2% in 2024. Once again, it remains of the brighter spots in the euro area economy amid the struggles in Germany and France in particular. This article was written by Justin Low at www.forexlive.com.

The NASDAQ index is down sharply. The current price is down -300 points or -1.66% at 17969.44. The low price reached 17959.93. Shares of Nvidia and Tesla are leading the downside. Tessa shares are down -4.78% while Nvidia shares are down -5.52%. The decline in NVidia follows growing uncertainty around it’s AI chip business in

The Atlanta Fed GDPNow growth estimate for Q2 growth came in at -1.8%, unchanged from the previous estimate. In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is -1.8 percent on March 26, unchanged from March 18 after rounding. After recent releases

NZDUSD is trading in a well-defined technical range as traders weigh directional cues. In the Asia-Pacific session, the pair once again found buyers ahead of the rising 200-bar moving average on the 4-hour chart, which currently sits near 0.5708. Today’s low came in at 0.5713, just above that level—echoing similar buying interest seen on Monday

Pres. Trump said yesterday that Canada is “stepped it up a lot”. That and some concessions on tariffs has helped the CAD leading to a lower USDCAD in the process. Technically, the USDCAD is coming under renewed pressure after breaking below the key support range between 1.4268 and 1.4471—a zone that had confined most of

tradeCompass – Silver Futures Analysis for Today Live price: 34,315 Silver Futures Analysis: Bullish Momentum Building Above 34,275 At the time of this silver futures analysis, price is trading at 34,315 and pushing directly against the Value Area High (VAH) of the current session. The technical outlook is bullish as long as silver holds above

The U.S. stock market today displayed a stark contrast in sector performances, with technology facing significant challenges while oil and financials seemed to gain investor favor. The market dynamics epitomize a shift in sentiment as investors recalibrate their portfolios amid mixed economic signals. 📉 Tech Sector: A broad sell-off The technology sector experienced broad declines,

It’s been a struggle for crude so far this year but WTI is showing some signs of life. WTI crude is up $0.97 today to $69.97 ahead of US EIA weekly oil inventory data at the bottom of the hour. Private weekly crude oil inventory was released late yesterday and showed: Crude -4600K Gasoline -3300K

Changes in global environment will be challenging for China Reform measures are needed for boosting consumption Incomes and confidence are crucial for boosting consumer demand The narrative is building on this front with many calling for Beijing to step up support, especially on services consumption. From last week: China economists urge Beijing to continue ramping

UK yields initially rose on the details of the budget but there has been a re-think in the market, or a ‘buy the fact’ reaction to all the angst about the deficit situation. My suspicion is that there are still many generals ‘fighting the last war’ in regards to the Liz Truss fiasco, and fearful

The key date for the markets is next Wednesday when the US will finally unveil the tariffs plan. Trump has been calling it “Liberation Day” and that will likely be the same for the markets as uncertainty has been historically high. The expectations for tariffs rates is around 9% for universal and 50% on China.

The United States’ fiscal position is continuing to deteriorate, with Moody’s Ratings warning that rising interest payments and widening deficits are eroding the country’s debt affordability. In its latest report, Moody’s said the fiscal strength of the US has “deteriorated further” since the sovereign outlook was cut to negative in late 2023, and that even

The Smart Way to Trade Reversals How to spot real turning points — not just dead-cat bounces. “Not every dip is a buying opportunity. Smart traders wait for signs of strength — not just weakness fading.” Why Reversals Are Tempting — and Dangerous Everyone wants to buy the bottom. But most failed trades come from

A White House official cited by CNBC said the President may not take all of the non-tariff barriers into account when setting tariff rates. He specifically mentioned VAT taxes, which I take as a good sign. He also mentioned currency devaulation and wage suppression. We saw reports like that on the weekend, though less detailed

How to Track Earnings Season the Smart (and Simple) Way A guide to cutting through the noise and finding the real opportunities. “Earnings season isn’t just headlines. It’s where real trades and long-term ideas are born.” Why Earnings Season Matters (Even for Long-Term Investors) Whether you’re a swing trader or a long-term holder, earnings season

Bloomberg reports that Trump may expedite the timeline for imposing tariffs on U.S. copper imports. Initially, the Commerce Department was granted 270 days from February 2025 to investigate and report on the potential tariffs. However, recent developments suggest that these tariffs could be implemented within weeks, significantly ahead of the original deadline. ​ This acceleration

Core annual inflation is estimated to ease a little to 3.6%, down from 3.7% in January. But overall, that’s still a high figure that won’t provide the BOE with much comfort. Meanwhile, headline annual inflation is expected to remain unchanged at 3.0%. As energy inflation becomes less of a drag, it will be a tricky

Prior was +1448K Gasoline -1446K vs -1830K expected Distillates -421K vs -1568K expected Refinery utilization +0.1% vs +0.5% expected WTI crude oil was up 99-cents ahead of this report and just below $70/barrel. This report is good news on the surface but I think yesterday’s EIA data raised expectations. It showed: Crude -4600K Gasoline -3300K

The EURUSD has extended to a new session low and is now testing a familiar technical area between 1.07609 and 1.07767 — a swing zone initially carved out in October and November (see red numbered circles on the chart) and retested on March 6 before moving to the high from last week. This area has

Goldman Sachs is out with a note saying that high inflation and high survey-based inflation expectations raise the bar for possible rate cuts this year. They add that survey data are muddied by respondents’ political leanings, but still can’t be ignored. They also keep a door open for cuts saying that deteriorating economic indicators could

I got a chance to read The Atlantic report about the editor-in-chief being added to the White House group chat. It’s a fiasco but I don’t want to weigh in on the politics because there’s no investment strategy or macro takeaway from that angle. Where I think something revealing (and useful) taking place is the

Building Your Watchlist for the Next Market Pullback How to prepare now — so you’re ready when prices drop later. “Opportunities don’t go to those who guess the bottom. They go to those who are ready.” Why Watchlists Matter More in Downturns Most investors react to pullbacks with panic — or indecision. But prepared investors

1000 GMT/0600 US Eastern time: Bank of France Governor Francois Villeroy de Galhau is to be interviewed by the lower house’s finance commission about the economy There are some wavering comments coming from ECB officials about the likely hood of another rate cut at the next meeting. We may get more clues today. The later,

Prior was +3.2% Nondefense capital goods orders ex-air -0.3% vs +0.2% expected Prior nondefense capital goods orders ex-air +0.8% (revised to +0.9%) Ex transport +0.7% vs +0.2% expected Ex defense +0.8% vs +3.5% prior This is a solid number but the core orders are weaker than the headline suggests. Still, that’s coming off a prior

Industrial production has been a source of strength in economic data so far this year and that’s been one of the main data points used as a push-back against slowing consumer and business surveys. Today we get a forward-looking industrial indicator with the February durable goods orders report. In truth, this indicator hasn’t been a

The EURUSD is mired in a very narrow trading range awaiting the next shove. The USDJPY moved higher on comments from BOJ Ueda that food inflation was temporary and not a reason to tighten policy. However, the price has come back down in the European session after his chirping. The GBPUSD broke below the 100

Fundamental Overview The USD got a bit of a boost on Monday following the better than expected US PMIs although the gains were not widespread. We’ve also seen some bids in the greenback yesterday following the weak US Consumer Confidence where inflation expectations jumped to yet another high. Overall, the market is still pricing between

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

Buffett on Circles of Competence and Selectivity Why knowing your limits is more powerful than pretending to know everything. “The most important thing in evaluating businesses is figuring out where your circle of competence is and staying inside of it.” — Warren Buffett What Is a Circle of Competence? It’s the set of industries, businesses,

Missed a Big Move? Here’s What to Do Next How smart investors respond when they didn’t buy early — without chasing or panicking. “You don’t need to catch every move. You just need to catch the right ones — at the right time.” Why It’s Normal to Miss Big Moves It happens to everyone: You

Goldman Sachs warns of potential tariff shock on April 2 Nasdaq leads as US stocks post moderate gains Trump: Mexico and Canada have stepped it up a lot The lessons from The Atlantic leak: In a transactional world, leverage is all the matters Trump: I would like to see interest rates come down Crude oil

Buffett on Cash, Patience, and Optionality Why waiting is a superpower — and how to turn inactivity into an investing edge. “The trick is, when there’s nothing to do, do nothing.” — Warren Buffett Cash Isn’t Fear — It’s Firepower Buffett is famous for holding billions in cash. Not because he’s indecisive, but because he

Fundamental Overview The USD got a bit of a boost on Monday following the better than expected US PMIs although the gains were not widespread. We’ve also seen some bids in the greenback yesterday following the weak US Consumer Confidence where inflation expectations jumped to yet another high. Overall, the market is still pricing between

How to Use Technicals & Fundamentals Together Why smart investors don’t choose between them — they combine both. “Charts show the timing. Fundamentals show the reason. Together, they give you the edge.” Why It’s a Mistake to Pick Just One Some investors are die-hard fundamentalists. Others swear by the chart and ignore the balance sheet.

Fundamental Overview The USD got a bit of a boost on Monday following the better than expected US PMIs although the gains were not widespread. We’ve also seen some bids in the greenback yesterday following the weak US Consumer Confidence where inflation expectations jumped to yet another high. Overall, the market is still pricing between

M6 earthquake Chile, Tarapaca region 119 km ENE of Alto Hospicio, Chile Depth 85 km EMSC maps Chile is the world’s largest producer and exporter of copper. Earlier: Copper futures extend to new all time highs on tariff fears This article was written by Eamonn Sheridan at www.forexlive.com.

Rate cuts by year-end Fed: 62 bps (85% probability of no change at the upcoming meeting) Following the weak US consumer confidence report, traders increased the easing bets from 59 bps to 62 bps. ECB: 51 bps (78% probability of rate cut at the upcoming meeting) BoE: 45 bps (54% probability of rate cut at

Why Warren Buffett Says “Never Lose Money” — And What He Really Means A deeper look at one of the most quoted — and misunderstood — rules in investing. “Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.” — Warren Buffett What “Never Lose Money” Actually Means Buffett isn’t saying

Trump will be interviewed at 2100 US Eastern time (0100 GMT) by one of his favoured outlets, Newsmax. This article was written by Eamonn Sheridan at www.forexlive.com.

1400 GMT/1000 US Eastern time Federal Reserve Bank of Minneapolis President Neel Kashkari hosts “Fed Listens” conversation on labor market conditions, inflation, and how the Fed communicates and transmits monetary policy before the Detroit Lakes Regional Chamber of Commerce 1710 GMT/1310 US Eastern time Federal Reserve Bank of St. Louis President Alberto Musalem speaks and

This is interesting. Goldman Sachs expects market growth for rack-level AI servers to slow due to factors like the effects of the product transition period, ongoing supply and demand uncertainty, and increasing production complexity. As a result, it has revised its shipment forecasts for 2025 and 2026 downward—from 31,000 units and 66,000 units to 19,000

S&P ratings analysts more to come U.S. economic outlook sees growth losing steam amid shifting policies Forecast inflation to remain closer to 3.0% in 2025 as tariffs increase prices along domestic supply chain & for end consumers Comes amid shifting policy mix that is altering economic outlook, with balance of risks to our growth forecast

There is arguably just one to take note of, as highlighted in bold. That being for EUR/USD at the 1.0760 level. It isn’t one that holds any technical significance as the pair is continuing to keep pressured to the downside for now. Sellers remain in near-term control but the big level to watch on the

The momentum of the past two days of trading didn’t entire fade but it was slower going after a poor US consumer confidence report and as we stumble one day closer to Trump’s April 2 “liberation day”. S&P 500 +0.15% Nasdaq Comp +0.5% DJIA flat Russell 2000 -0.5% Toronto TSX Comp +0.2% I take some

Prior -6.2% Market index 247.5 vs 252.5 prior Purchase index 155.8 vs 154.7 prior Refinance index 752.4 vs 794.4 prior 30-year mortgage rate 6.71% vs 6.72% prior Mortgage applications declined in the past week but it owes mostly to a continued pullback in refinancing activity. Purchase activity was actually stronger but only marginally. Meanwhile, the

Says Ukraine-US talks in Riyadh were successful Ukraine is ready for a new meeting to work out details of a truce Separately, Russian officials say the Zaporizhzhia nuclear plant is Russian and won’t be transferred to anyone. The plant is near the front lines and has been the subject of considerable nuclear and attack worries.

A 25% increase in US tariffs in Q2 would have limited impact on euro area inflation But it could reduce GDP by 0.3% over the course of the full year Trump is destabilising the multi-lateral system That increases risks for financial order and also the climate Trump’s strategy is “lose-lose” in the short-term as it

February month inflation data is due from Australia today. Its expected to be steady at 2.5% y/y. The Reserve Bank of Australia target band is 2 to 3%, and the Bank and government have agreed to target 2.5%. On Tuesday evening Australian time the budget was announced in Australia. ICYMI: Australia brings out new tax

Swiss investor sentiment declined in March with UBS noting that investors are growing more cautious on the outlook for the economy. Well, increased global uncertainty would do that I guess. This article was written by Justin Low at www.forexlive.com.

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

UBS strategist Bhanu Baweja has issued a stark warning for equity markets, forecasting that the S&P 500 could drop to 5,300 points—an 8% fall from current levels. While that might seem surprising given the index’s strong performance in recent months, Baweja believes the market is underestimating growing headwinds from the real economy. At the core

GameStop said it will add bitcoin as a treasury reserve asset. The company had cash and cash equivalents of $4.76 billion as of the end of Q4 GameStop board has approved the addition of bitcoin as a treasury reserve asset. will use a portion of its cash or future debt or equity issuances to be

Bank of Japan Governor Ueda spoke: Bank of Japan Governor Ueda again – If prices overshoot will take stronger steps BoJ Gov Ueda again: If food inflation is temporary, shouldn’t respond with monetary policy Bank Japan Governor Ueda says cost-push inflation factors likely to gradually dissipate Bank of Japan Governor Ueda says expects underlying inflation

tradeCompass – Nasdaq Futures Analysis for Today Live price of NQ at the time of this analysis: 20,488 Nasdaq Futures Analysis: Bullish Bias Above 20,503 As of this Nasdaq futures analysis, NQ (Nasdaq futures) is trading at 20,491, with today’s VWAP at 20,498 and the psychological round number of 20,500 directly overhead. These levels converge

February 2025 monthly inflation CPI data from Australia Comes in at 2.4% y/y expected 2.5%, prior 2.5% Trimmed mean 2.7% y/y prior: 2.8% That headline result is encouraging. Its under the median estimate, under the previous month’s result, and under the mid-point of the Reserve Bank of Australia’s 2-3% target band. and the same as

Earlier: Trump may implement copper tariffs within weeks More: Not many exceptions to April 2 tariffs All we are doing is reciprocal I’ll likely to be more lenient than reciprocate On off on off on off …. continues This article was written by Eamonn Sheridan at www.forexlive.com.

Bank of Japan Governor Ueda (Headlines via Reuters): If price risks overshoot our expectations, we will take stronger steps to adjust degree of monetary support Japan’s economy is in state of inflation, when judging from recent movements in CPI In judging whether underlying inflation hits 2%, one factor we are looking at is whether recent

Fundamental Overview The USD got a bit of a boost on Monday following the better than expected US PMIs although the gains were not widespread. We’ve also seen some bids in the greenback yesterday following the weak US Consumer Confidence where inflation expectations jumped to yet another high. Overall, the market is still pricing between

We’re now entering into a different chapter There’s a lot of dust in the air If market-based long-run inflation expectations continue as they have recently, I would view that as a major red flag area of concern Must address the situation if investor expectations start to converge to that of households Interest rates should be

Bank of Japan Governor Ueda more to come Recent high inflation due largely to lagged effect of past rises in import costs, recent acceleration in food price rises Such cost-push factors likely to gradually dissipate Underlying inflation likely to gradually converge towards our 2% target even when temporary boost from food inflation disappears There is

Prior +3.0% Core CPI +3.5% vs +3.6% y/y expected Prior +3.7% The readings are a surprise to the downside even as services inflation held unchanged at 5.0% in core terms on the month. Instead, goods inflation was the one leading the drop with a fall from 1.0% in January to 0.8% in February. The former

The Toronto Star reports — citing sources — that Canada ‘could be on the lower end’ of the April 2 tariffs. Nothing is guaranteed Trump may impose three escalating levels of tariffs Despite a recent news report the tiered-approach is not on the table, the sources said it aligns with the government’s understanding of what’s

Morgan Stanley has upgraded both the MSCI China and Hang Seng indices to equal weight, pointing to what it sees as a structural regime shift in Chinese equities—particularly in the offshore segment. The bank argues that after years of deflationary drag, a recovery in return on equity (ROE) and valuations is taking hold. Key to

The main event today was the release of the UK CPI report. The data missed expectations although services inflation remains sticky around 5% which is what the BoE is more concerned with. Looking ahead, we don’t have much on the agenda today with just the US Durable Goods Orders data as the only highlight. This

Eurostoxx +0.1% Germany DAX +0.2% France CAC 40 flat UK FTSE +0.2% Spain IBEX -0.2% Italy FTSE MIB +0.3% S&P 500 futures are down 0.1%, so that’s sort of balancing out the mood and keeping things more tentative to start the session. Once again, investors will have to look to Wall Street for the next

Cable is now down to 1.2908, lower by 0.3% on the day, following the softer UK CPI report here. The pair was trading around 1.2940 before the inflation numbers with traders pricing in ~45% odds of a rate cut for May. On the latter, we’re seeing traders step up their pricing to ~55% odds currently.

After finishing yesterday with slight gains, US futures are more muted today once again. Investors are still holding out some caution as all eyes are on Trump’s tariffs implementation next week. Here’s a catch up of the headlines from overnight: Goldman Sachs puts a number on what level of tariffs is expected Goldman Sachs warns

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

German DAX futures +0.1% UK FTSE futures +0.1% US futures are also looking rather muted, with S&P 500 futures keeping flattish at the moment. Trump tariffs will continue to dictate risk sentiment ahead of the 2 April implementation. But investors look to be holding some cautious optimism, as evident with the modest gains in the

ECB should now focus more on inflation expectations than estimated neutral level in setting rates As inflation falls and rates near neutral, uncertainty becomes more of a problem Full transcript (may be gated) Just some token remarks there by Panetta as he discusses more about the neutral rate, with the ECB supposedly gradually approaching that.

That’s a great sign for Canada and Mexico and sentiment and general as that’s a big part of the US trade puzzle. This article was written by Adam Button at www.forexlive.com.

Bank of Japan Governor Ueda is serving up some reasons to sell JPY today! We will make a judgment call by looking at various indicators, in determining whether underlying inflation has hit our target Just looking at single indicator won’t be sufficient in grasping underlying inflation, which indicator to focus on could change gradually during

Despite recent media reports suggesting a softer stance from the Trump administration on tariffs, Goldman Sachs is urging caution. The investment bank believes markets may be too optimistic—and that could lead to a nasty surprise. According to Goldman economists, tariffs have long been a key bargaining chip for the administration, and they expect officials will

Bank of Japan Governor Ueda: Japan’s economy recovering moderately albeit with some weaknesses Japan’s economy likely to continue growing above potential Expect underlying inflation to accelerate gradually Uncertainty surrounding Japan’s economy, prices remains high Expect to keep raising interest rates if economy, prices move in line with our forecasts made in quarterly outlook report Japan’s

I have April 2 tariffs set There was no classified information on Signal chat Tariffs will create more jobs These are the usual talking points. This article was written by Adam Button at www.forexlive.com.

Crude oil futures for May delivery slipped $0.11 to settle at $69.00 per barrel on Tuesday, marking the first decline after 4 consecutive days of gains. The modest pullback followed reports of a ceasefire agreement between Ukraine and Russia covering the Black Sea. However, broader supply concerns remain intact, particularly after former President Donald Trump

Via oilprice.com: Expectations I had seen centred on: Headline crude -2.6mn barrels Distillates -2.2 mn bbls Gasoline -3.3 mn — This data point is from a privately-conducted survey by the American Petroleum Institute (API). It’s a survey of oil storage facilities and companies The official report is due Wednesday morning US time. The two reports

Bitcoin moved lower earlier today, but buyers stepped in at the 200-bar moving average on the 4-hour chart, currently at $86,703. Sellers attempted to push the price below that level, but momentum quickly faded, indicating that short-term control remains with the buyers. A sustained move below the 200-bar MA would be needed to shift the

Copper futures have extended to a new record high on the Comex exchange today, surging to $5.2145 per pound, driven by fears Pres. Trump may impose steep tariffs on imports of the metal. The rally was also fueled by a report that Glencore Plc. temporarily halted copper shipments from Chile due to a furnace issue,

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He isn’t giving much away here as the market is pricing 1.97% in Sept but bottoming shortly afterwards. No central bankers want to give anything away until they hear about tariffs. This article was written by Adam Button at www.forexlive.com.

This is the lowest reading since May 2020 General activity index: -17.5 vs -12.9 prior New orders index: -19.5 vs -1.3 prior — lowest since April 2023 Full-time employment index: -7.5 vs 2.5 prior Prices paid index: 36.0 vs 23.4 prior Regional activity index: -32.5 vs -13.1 prior The six month index fell to -19.8

Signal Scandal Rocks U.S. Intel – What Investors Should Watch as Trust in National Security Protocols Wavers Improper use of encrypted chats by top officials raises concerns over governance risk, internal dysfunction, and policy volatility. What Happened at the Senate Hearing Now A heated exchange during the Senate Intelligence Committee hearing revealed that senior Trump-era

Earlier today, I highlighted a Goldman Sachs note suggesting that market participants were expecting a 9% reciprocal tariff rate. Now, Deutsche Bank is out with a survey of its own list of 400 investors and they estimate 50% tariffs on China and a tariff of slightly below 10% on everyone else. However they also try

US and Russia agreed to measures for implementing agreement to ban strikes against energy facilities of Russia and Ukraine US will continue facilitating negotiations between both sides US and Ukraine agreed to develop measure for implementing agreement to ban strikes against energy facilities of Russia and Ukraine The momentum towards a ceasefire is slower than

Results of the sale just after the 1 pm ET deadline. Prior was 4.169% Bid to cover 2.66 vs 2.56 prior I thought we might see a 4-handle but the combo of the soft consumer confidence data today and worries about tariffs knocked it through the figure. If we get a tolerable tariff solution and

The cryptocurrency landscape stands at a potential inflection point following Donald Trump’s return to the White House. After years of regulatory uncertainty and mixed signals from Washington, the digital asset industry is witnessing what many analysts describe as a fundamental shift in the federal government’s approach to blockchain technology and cryptocurrencies. President Trump’s administration has

The stock market today is showcasing an impressive performance in the technology sector, with Meta and Apple leading the charge against a backdrop of varied sector responses. Investors are attentively watching as moderate swings in sentiment across industries provide new insights and opportunities for traders on a vibrant day on Wall Street. 📈 Technology Sector:

💰 The Difference Between Price and Value When Investing Why a stock being “cheap” doesn’t always mean it’s a good deal. “Price is what you pay. Value is what you get.” 🤔 Price Is Just the Starting Point When you open a stock app, you see a number — $39.50, $112.00, $264.75. But what does

Major European indices are closing up sharply in trading today. For Spain’s Ibex, it is closing up around 1.36% near 13504.31. That is a new high close going back to May 2008. Italy’s FTSE MIB is up around 1.11% and remains close to its highest low going back to 2007. The high price was reached

Intel Officials Under Fire Over Leaked Strike Plans – Senators Slam “Utterly Unprofessional” Breach of U.S. Military Deliberations A national reporter was included in a private Signal group chat discussing the timing of U.S. airstrikes — and officials today struggled to justify it under oath. What Happened In a blistering Senate Intelligence Committee session, lawmakers

Fundamental Overview It’s been a rough quarter for crude oil as the market got hit by a wave of negative news. We had it all ranging from higher supply expectations to lower demand fears amid tariffs uncertainty and weakening economic data. More recently, oil price started to climb as the US imposed fresh sanctions on

ThinkMarkets, a globally recognised leader in multi-asset online trading, recently announced the launch of ThinkRewards, its new loyalty programme, designed to recognise and reward both new and existing clients who trade with ThinkMarkets on a recurring basis. The programme allows clients to earn points through their trades, with points for special occasions, events, referrals, and

April 2 is creeping closer and the headlines are dizzying. We started off the week with big pickup in risk assets after a pair of reports saying that Trump was going to leave a few countries off the tariff list. Today though, the FT reports that Trump is considering a two-step approach that would start

Do you like hard data or soft data? That’s the question facing bond markets today ahead of the sale of 2-year notes at the top of the hour. There are $69 billion up for grabs and they’re rich on recent history at around 4.00% compared to last months’ sale at 4.169%. Today, there has been

The AUDUSD has shown a constructive technical shift, breaking above both the 100- and 200-bar moving averages (blue and green lines on the chart below) on the 4-hour chart. This move is significant as it signals a potential change in short-term momentum. These moving averages, now clustered around 0.6302–0.6308, had previously capped upside attempts, but

The TSLA stock has been surging higher in the past few days on a mix of positive news which have been lifting the broad US stock market. The US data has started to surprise to the upside recently alleviating growth fears. Over the weekend and on Monday we got some positive news on tariffs with

Services index -4 vs +11 last month Manufacturing shipments -7 vs +12 last month Other details: Employment -1 vs 9 last month Wages 19 vs 21 last month Prices paid 3.75 vs 2.23 last month Prices received 2.34 vs 1.62 last month New orders -4 vs 0 last month Backlog of orders -1 vs -6

Trump is considering a two-step tariff regime on April 2 – FT ECB’s Vujcic: April meeting is completely open, more data is needed The Citi US Economic Surprise Index is climbing back into positive territory Koala-fied for a Rally – Aussie Dollar Climbs on Pre-Election Tax Cuts ECB’s Kažimír: We are open to discuss a

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🧱 How to Build a Long-Term Mindset (Even in a Short-Term World) A guide to thinking in years, not days — and why that’s your greatest investing edge. “Most people want results tomorrow. But real wealth is built by those who can wait.” ⏳ Why Thinking Long-Term Is So Hard Today The modern world is

The Kremlin says that they are still analysing the outcome of the talks in Riyadh. There’s been no official statement from both sides yet but as mentioned earlier, talks were rather lengthy with reports stating that it stretched for over 12 hours. This article was written by Justin Low at www.forexlive.com.

A New Axis? Russia, China, Iran, and North Korea Align Further – What Investors Need to Know Senate intelligence testimony reveals heightened strategic cooperation among key U.S. adversaries, signaling long-term shifts in global risk dynamics. What’s Happening in Latest Senate Intelligence Committee Hearing During the latest Senate Intelligence Committee hearing, top U.S. intelligence officials confirmed

Prices +0.5% m/m vs -0.1% prior Prior was +0.5% m/m Non-seasonally adjusted -0.1% vs -0.1% prior Prices y/y +4.7% vs +4.8% expected Prior y/y +4.5% Separate data on house prices from the FHFA: Prices m/m +0.2% vs +0.4% prior Prices y/y +4.8% vs +4.7% prior3 “Home price growth continued to moderate in January, reflecting a

There are no real comments on the economy here but Williams isn’t shy when it comes to doing Q&As so I’ll watch for that later. This article was written by Adam Button at www.forexlive.com.

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The news outlet cites Ishiba’s remark to Tetsuo Saito, who is the party leader to the LDP’s coalition partner Komeito. No details are given on what these “strong measures” will be yet. This article was written by Justin Low at www.forexlive.com.

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The USDCHF continues to trade with a bearish bias, failing to sustain upside moves above resistance targets. Yesterday, the price briefly moved above last Thursday and Friday highs near 0.8842 but failed to hold the breakout. Today’s attempt to extend gains above yesterday’s high at 0.8841 also failed, with price reaching 0.8848 before reversing lower

The USDCAD pair encountered firm resistance at the 100-hour moving average, currently near 1.4329, halting the latest bullish push. The inability to break above this level triggered a downside rotation, signaling that buyers lacked the momentum needed to clear key near-term resistance. The 200-hour MA, located just above at 1.4343, also contributed to the ceiling.

The data out over the US today was mostly on the weakest side: Philadelphia Fed nonmanufacturing tumbled to -32.5 from -13.1 last month Consumer confidence came in at 92.9 versus 94.0 and 100.1 last month. New home sales came in about as expected Richmond Fed was lower at -4 versus +6 lastmonth US yields which

There is a move to largely ignore falling US consumer confidence as it dwindles because of political uncertainty. We’re in an era where politics and the news cycle dominates feelings rather than real indications on wages and job availability. That said, it’s been four straight months of a swan dive in US consumer confidence and

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Prior was 98.3 (revised to 100.1) Present Situation Index 134.5 vs. 136.5 prior Expectations Index 65.2 vs 72.9 prior 12-month inflation expectations 6.2% vs 5.8% prior Jobs hard-to-get at 15.7 vs 16.0 prior This is a better indicator than the UMich survey but I think most of the market is at the point where they

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Eurostoxx +0.3% Germany DAX flat France CAC 40 +0.4% UK FTSE +0.3% Spain IBEX +0.4% Italy FTSE MIB +0.4% Just be wary though that US futures are looking fairly cautious, with S&P 500 futures now down 0.2%. That’s sort of eating into the early optimism and could bite at European stocks later on. Of course,

Goldman Sachs has upgraded its GBP forecasts across major currency pairs, citing better-than-expected UK growth, fiscal discipline, and limited direct exposure to US tariffs. Sterling has also benefited from political stability, a stronger services sector, and supportive rate differentials. With risks skewed in the UK’s favor compared to the Eurozone and signs of renewed investor

The USD is lower vs the 3 major currency pairs. The EURUSD is higher after an early European session move to the downside stalled near a swing area (between 1.0761 to 1.07767. The USDJPY has moved lower and trades at session lows to start the US sesssion. It is tesing the 200 bar MA on

Bitcoin Futures – tradeCompass Bitcoin Analysis Today (March 25, 2025) Bitcoin futures are cooling off today after a strong rally on March 24, where price surged +4.38% intraday and closed the session up +3.31%. As of now, we’re seeing a healthy pullback of about -1.5%, with Bitcoin futures trading around $87,065. This pause is typical

Senate Puts Drug Cartels at Top of Threat List – Key Implications for USD, Security Stocks, and China Trade Tensions FBI and Senate warn of fentanyl-fueled cartel crisis; investors should watch USD strength, border tech stocks, and China-linked supply chains. What’s New from the Live US Senate Hearing In a rare shift, the U.S. Senate

The Australia’s center-left government unveiled an unexpected tax cut and an extension of energy rebates in the pre-election budget in what looks like an attempt to shore up political support and help secure Prime Minister Anthony Albanese a second term in office. The Australian Dollar and Australian Bond Yields got a boost from the news

There is arguably just one to take note of on the day, as highlighted in bold. That being for EUR/USD at the 1.0850 level. That said, the expiries might not have too much impact with sellers in near-term control and eyeing another test of the 1.0800 mark today. That’s the bigger level in play for

The NZDUSD continues to draw strong support from the 200-bar moving average on the 4-hour chart, currently at 0.5707. Today marked the fourth successful test of this key level (see lower green line on the chart above), with buyers stepping in once again to halt the downside. Each bounce reinforces the technical importance of this

Prior 85.2; revised to 85.3 Current conditions 85.7 vs 85.5 expected Prior 85.0 Expectations 87.7 vs 87.5 expected Prior 85.4; revised to 85.6 It’s an improvement across the board even with some positive revisions to February to boot. No doubt that the optimism from the German debt brake reform is helping to lift broader business

Bank of Japan Governor Ueda will be answering questions in parliament just after 1220 Japan time 0320 GMT 2320 US Eastern time This article was written by Eamonn Sheridan at www.forexlive.com.

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German DAX futures flat French CAC 40 futures flat UK FTSE futures -0.1% This comes with S&P 500 futures also keeping flattish as the strong rebound yesterday fizzles for the time being. It’s shaping up to be a rather quiet one in Europe as we await the hustle and bustle in US trading once again.

Trump’s Two-Step Tariff Plan Emergency Tariffs First: Trump is considering using rarely invoked emergency powers to impose immediate tariffs while conducting formal investigations into trading partners. Legal Framework: His team is exploring Section 301 investigations, the International Emergency Economic Powers Act, and Section 338 of the 1930 Tariff Act to implement tariffs of up to

Prior month 0.657M revised prior to 0.664M New Home sales for February 0.676M vs 0.679M estimate New home sales Change MoM 1.8% vs -6.9% (revised from -10.5%) last month. Details: Median sale price: $414,500, down -1.5% from Feb 2024 ($420,900) Homes for sale at end of February: 0.500 million units (vs Jan 0.496M) New home

It is estimate that 12-month PCE was at 2.5% in Feb based on CPI and PPI Progress on bringing inflation to target has slowed Return of positive goods inflation is ‘unhelpful’ as it had helped keep a lid on total inflation and inflation expectations Surveys show consumers expecting further increases in the near term, with

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The preliminary report from USGS pegs the magnitude at 7 depth 10km (about 6 miles) I haven’t any more detail at this stage – no word on any tsunami alert as yet This article was written by Eamonn Sheridan at www.forexlive.com.

This news is giving Bitcoin and Ethereum a boost although it’s now entirely fresh. The cryptocurrency is already live on the Ethereum and Binance blockchains, which are decentralized databases that track the flow of digital assets. This is probably giving cryptocurrencies a boost since it’s now announcing it publicly although I don’t see why it

1240 GMT / 0840 US Eastern time: Federal Reserve Board Governor Adriana Kugler speaks on “Economic Landscape and Entrepreneurship” before the U.S. Hispanic Chamber of Commerce 2025 Legislative Summit 1305 GMT / 0905 US Eastern time Federal Reserve Bank of New York President John Williams gives opening remarks before the 2025 New York Fed Regional

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April meeting is completely open, more data is needed. He’s not saying anything new here as ECB members continue to keep the door for another rate cut open in light of the upcoming Trump’s “Liberation Day” on April 2nd. This article was written by Giuseppe Dellamotta at www.forexlive.com.

Budget deficit for 2024-25 expected at A$27.6 billion Budget deficit for 2025-26 expected at A$42.1 billion Sees Australia GDP growth at 2.25% in fiscal year 2026, 2.5% in fiscal year 2027 A tweak to the tax rate for the $18,201 to $45,000 threshold, which will be cut from 16% to 15% from 1 July 2026,

The mood music is looking more tentative in the new day as broader markets are not building on the risk rebound from yesterday, at least not yet. Trump tariffs continue to be a key focus ahead of the 2 April deadline and once again, he showed some willingness to water down his hard-hitting rhetoric as

The Citi US Economic Surprise Index is a widely followed indicator that measures how recent economic data compares to consensus expectations. How It Works The index rises when economic data releases (such as GDP, employment reports, inflation, or retail sales) exceed expectations. It falls when data disappoints relative to forecasts. A positive reading means that,

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In the European session we don’t have much on the agenda with the German IFO as the only highlight. The IFO index is similar to the German Composite PMI as they are correlated, so it will likely surprise to the upside but overall shouldn’t change much for the market. In the American session, the main

The talks were a long one with reports citing “more than 12 hours of consultations”. There should be statements released later today from both the US and Russian camps, so watch out for that later in the day. Reuters did report overnight that the US delegation is also set to meet up with their Ukrainian

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Rate cuts by year-end Fed: 59 bps (85% probability of no change at the upcoming meeting) ECB: 50 bps (70% probability of rate cut at the upcoming meeting) BoE: 40 bps (55% probability of no change at the upcoming meeting) BoC: 46 bps (72% probability of no change at the upcoming meeting) RBA: 65 bps

They’re still not really giving anything away for the time being. The next Eurozone CPI report on 1 April and Trump tariffs on 2 April will be key developments to watch in determining their next step in the month ahead. This article was written by Justin Low at www.forexlive.com.

Fundamental Overview Gold came under some pressure yesterday following the US Flash PMIs as the data showed a strong rebound from the prior month. That helped push aside growth fears for now although the risks remain with the market waiting for the tariffs plan announcement on April 2nd. In the bigger picture, as long as

Two permanent FOMC voters speaking Tuesday – Kugler and Williams Bank of Japan Governor Ueda will be speaking soon – answering questions in parliament Mag 6.2 earthquake off the West Coast of South Island, New Zealand Reports that China has released five Mintz Group employees who were detained in 2023 Samsung co-CEO Han Jong-hee dies

Must think about valuation and market rout risks when offloading ETF holdings JGB holdings would continue to have stock effect since reduction pace is extremely slow He’s answering questions here as the BOJ is nearing the end of fully getting rid of the stocks purchased from struggling banks back in 2002. They then began selling

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

Piper Sandler believes fears about Tesla’s brand taking a major hit are exaggerated. While Elon Musk’s political behaviour may have slightly affected demand, the larger issue behind Tesla’s sharp drop in first-quarter deliveries was supply-side—specifically factory shutdowns that limited Model Y production. The firm notes demand remains strong, and with new products and a robo-taxi

Financial Times reports that China is considering including services in the multi-bn $ subsidy program to stimulate consumption more to come FT is gated but the gist is that China is considering including services in a multibillion-dollar subsidy programme to stimulate consumption, according to officials and academics. This article was written by Eamonn Sheridan at

S&P Global US March flash services PMI 54.3 vs 50.8 expected Trump will announce additional tariffs on autos, lumber and chips BOE’s Bailey: We are seeing businesses delay investment due to uncertainty Fed’s Barr doesn’t comment on monetary policy or the economic outlook BOE’s Bailey: We face a challenge to raise the potential growth rate

Trump Media & Technology Group, the company behind Truth Social and majority-owned by Donald Trump, has signed a non-binding agreement with Crypto.com to develop a range of exchange-traded funds (ETFs) and financial products. The initiative aims to offer both digital assets and securities with a strong “Made in America” focus, the company said on Monday.

As is usual for a Monday morning, market liquidity is very thin until it improves as more Asian centres come online … prices are liable to swing around, so take care out there. Indicative rates, little change from late Friday: EUR/USD 1.0813 USD/JPY 149.36 GBP/USD 1.2893, a touch of weaker – I’m sniffing around for

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

UPCOMING EVENTS: Monday: Australia/Japan/EU/UK/US Flash PMIs. Tuesday: German IFO, US Consumer Confidence. Wednesday: Australia Monthly CPI, UK CPI, US Durable Goods Orders, BoC Minutes. Thursday: US Final Q4 GDP, US Jobless Claims. Friday: Tokyo CPI, BoJ Summary of Opinions, UK Retail Sales, French CPI, Canada GDP, US PCE, University of Michigan Consumer Sentiment (Final). Monday

Mark Carney announced an April 28 election, as was widely reported last week. He went straight into campaign mode and proposed reducing the lowest income tax bracket by one percentage point. Polls between the Liberals and Conservatives are tight and that will make for an interesting five-week campaign. This article was written by Adam Button

This info comes via a Bloomberg piece (gated). In brief: Bank of America forecast AUD/USD to 0.68 be December 2025: Australian dollar gradual recovery seen from Q2 2025 driven by USD depreciation and then by China stimulus (lagged impact) in H2 2025 RBA higher terminal policy rate due to the stickiness of inflation also a

Reuters carry the report on discussions between European central banking and supervisory officials questioning whether they can still rely on the U.S. Federal Reserve to provide dollar funding in times of market stress Reuters cite “six people familiar with the matter” sources told Reuters they consider it highly unlikely the Fed would not honour its

Mon: EZ/UK/US Flash PMIs (Mar) Tue: PBoC MLF Announcement, NBH Announcement, German Ifo Survey (Mar), US Richmond Fed (Mar) Wed: BoC Minutes, CNB Announcement, Australian CPI (Feb), UK CPI (Feb), US Durable Goods (Feb), Thu: Norges Bank Announcement, US GDP (Q4), US PCE (Q4), Tokyo CPI (Mar), Banxico. Fri: BoJ Summary of Opinions, UK Retail

Turkey’s Capital Markets Board bans short selling transactions on Istanbul Stock Exchange for 1 month Decides to ease equity ratio requirement when making credit capital markets transactions Removes maximum limit for total amount to be used for share buybacks of listed companies Meanwhile, at the Turkish central bank, The Central Bank of the Republic of

It’s a slow start to the data agenda for the new week. There is plenty ahead though: Weekly Market Outlook (24-28 March) Newsquawk Week Ahead: US PCE, Global PMIs, UK CPI and Spring Statement, BoJ SoO This article was written by Eamonn Sheridan at www.forexlive.com.

Wall Street Journal (gated) report, in (very brief) summary: The White House is adjusting its tariff strategy ahead of the planned April 2 rollout. Instead of implementing broad, industry-specific tariffs (such as on cars, pharmaceuticals, and semiconductors), the focus will likely shift to targeted reciprocal tariffs aimed at countries with significant trade ties to the

NVIDIA Stock Analysis: Quiet Strength Building Underneath the Surface Price Snapshot: NVIDIA stock recently closed around $117.86, holding just above the core price zone where most recent trading activity has been concentrated — around $117.57. This zone represents what professionals call a “fair value area” — a kind of balance point where buyers and sellers

In light of rising tariff risks, elevated inflation expectations, and stretched equity/credit valuations, Goldman Sachs outlines the strategic case for commodity investing. Far from being just a play on rare “supercycles,” commodities can provide attractive long-term returns, portfolio diversification, and superior inflation protection — particularly during late-cycle phases or supply shocks when both equities and

USDJPY has shown more bullish momentum as the day comes to the end of the week. The USDJPY price has now stretched above the 100-hour moving average (MA) and a key swing area, signaling potential further upside. Earlier today at session lows, the buyers leaned near the 200-hour MA, reinforcing support and providing a base

USD/CAD rose as high as 1.4373 today but has trimmed that back by 40 pips and is closing in on unchanged on the day. The pair rose after today’s Canadian retail sales data, starting a 40-pip climb that’s been now fully reversed. Mixed in with that move was a broader USD rally as stock markets

Is the long-term bull market in the US dollar finally over? Plenty of research notes this week highlight the end of the era of ‘American exceptionalism’ and that’s been a trading theme so far this year as the US dollar has sagged (though it’s bounced a tad today). In any case, the speculative money has

The USD was mixed in trading this week. How did the greenback do vs the major currencies? Looking at the change % below, the dollar is higher vs the EUR, JPY, GBP, AUD and NZD. It is lower vs the CHF and the CAD. The biggest gain was vs the AUD at 0.79%. The greenback

The euro is on track to finish the week slightly lower but that follows two weeks of gains on a German agreement to suspend the debt brake in what the market sees as a shift to a more-active fiscal policy. With that, analysts at CIBC see a steadily rising euro over the course of the

European major indices are closing the day mostly lower with the exception being Spain’s Ibex. A snapshot of the closing levels shows: German DAX, -0.47% France’s CAC -0.63% UK’s FTSE 100 -0.63% Spain’s Ibex, +0.33% Italy’s FTSE MIB -0.39%. For the trading week, the indices were mixed: German DAX, -0.41% France’s CAC, +0.18% UK’s FTSE

Oil -1 at 486 Natural gas +2 at 102 Total rigs +1 at 593 The price of crude oil is trading up $0.32 and $68.39. For the week, the price is up about 1.8%. This article was written by Greg Michalowski at www.forexlive.com.

Major US indices have recovered most of their losses. The S&P index is down 6.8 points or -0.11% at 5657 The Dow industrial average is down -14 points or -0.03%. The NASDAQ index is trading up 16.7 points or 0.09%. At session lows the: Dow industrial average traded as low as -519.46 points. S&P index

Trump: We can talk about China tariffs Canada January retail sales -0.6% vs -0.4% expected Fed’s Williams: Current modestly-restrictive policy is ‘entirely appropriate’ More from Fed’s Williams: We’re not in a hurry to make next mon policy move Eurozone March consumer confidence -14.5 vs -13.0 expected Fed’s Goolsbee: Business contacts are waiting on capital spending

Trump spoke at a crypto event on Thursday, via a pre-recorded video address: want to make America “the undisputed Bitcoin superpower and the crypto capital of the world” said he’s ending former President Joe Biden’s administration’s “regulatory war on crypto and Bitcoin” wants Congress “to pass landmark legislation creating simple, common-sense rules for stablecoins and

Major indices close lower on the day Doubletree’s Gundlach: Don’t think we see a cut at the next meeting Germany, Italy, Poland, UK and Canada to meet in Paris next week to discuss Ukraine Crude oil futures settled $68.07 More from BOC Macklem: Expecting March CPI to be around 2.5% BOC’s Macklem: We’re not in

According to Bloomberg, Germany, Italy, Poland, UK and Canada are to me in Paris next week to discuss Ukraine: The Wall Street Journal published an article today about a European initiative for peace with the issues of that initiative. A summary Western allies are discussing deploying 10,000 to 30,000 troops to Ukraine to help enforce

The USDCHF surged higher following the Swiss National Bank’s rate cut, which had a 64% probability priced in. The Swiss franc weakened, pushing USDCHF upward as the market reacted. The rally broke above a key cluster of moving averages, including the 100-hour, 200-hour, and 200-day MAs, reaching a high of 0.8845 before pulling back during

Earlier this week the Bank of Japan left monetary policy unchanged: ForexLive Asia-Pacific FX news wrap: BoJ holds rates steady, markets eye Ueda & Fed ahead The next meeting is April 30/May 1. By then we will have had the February (see below) and March CPI data. February CPI data is expected to have slipped

Happy Friday all! (And in advance to those of you living in the past). Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

The major US indices fluctuated an up and down trading today, but are closing lower. Dow industrial average bill -11.31 points or -0.03% at 41953.32. At session highs index is up close to 286 points while at session lows the units was down -269 points. S&P index fell -12.4 points or -0.22% at 5662.89. At

Trump is invoking emergency powers to boost the ability of the US to produce critical minerals. Bloomberg with the report on Trump doing something to help out with the production of industry critical mineral production in the US. Trump adds that he’ll shortly be signing an agreement with Ukraine on rare earths. Trump is invoking

Doubletree’s Gundlach on CNBC says: I don’t think we see a cut in the next Fed meeting I think the first cut might come in June – July. The Fed might be seven states for Q3 Says the chance of recession is 50% to 60% Does not see 10-year going below 4% Have hard time

Morgan Stanley analysts have reduced their Tesla price target from $430 to $410 citing lower projected vehicle deliveries for 2025—1.61 million, down from 1.92 million Despite the adjustment, maintains an Overweight rating on the stock revision does not significantlyy alter the TSLA investment thesis Morgan Stanley remain optimistic about Tesla’s AI advancements and its potential

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

A look at the Fed Chair Powell’s comments categorized by topic 1. Monetary Policy & Rate Decisions We are not in any hurry to move on current rates. We are at a place where we can cut or hold at what is clearly a restrictive stance of policy. On balance, people wrote down similar forecasts

The stocks are not scared by the Fed chair’s comments about the economy and policy action going forward and are rising sharply. The S&P index is now up over 1.5% and the NASDAQ index is up over 2.0%. The small-cap Russell 2000 is up 1.9% Shares of Nvidia are up 3.94%. Alphabet shares are up

more to come New Zealand economic growth data for Q4 2024 kicks the calendar off today. The New Zealand economy is, slowly, on the turn better after a string of 3*50bp interest rate cuts from the Reserve Bank of New Zealand. The Australian employment report for February follows later. Another solid growth in jobs added

There was a solid bid in US stocks all day but it accelerated as Powell brushed off inflationary concerns around tariffs. However after the FOMC press conference, there was strong round of profit-taking that took the S&P 500 down by 40 points from the highs. S&P 500 +1.1% – up 61 points to 5675 Nasdaq

US stock markets cheer on Fed day How Federal Reserve pricing for this year changed since the FOMC decision What did the Fed Chair say today organized by topics? Powell Q&A: A ‘good part’ of higher inflation forecasts is due to tariffs Powell opening statement: Recent indications point to a moderation in consumer spending A

I’m having a hard time seeing any big changes from Powell’s press conference and the FOMC today. If anything, the big one is that officials are getting back on Team Transitory around tariffs. There was a risk they could have shifted to a hawkish stance on higher inflation but that didn’t unfold. That said, Powell

A take on the Federal Open Market Committee (FOMC) from Goldman Sachs Asset Management: The Federal Reserve struck a “cautious tone” at its latest policy meeting, opting to remain “on hold” as it assesses the U.S. growth outlook and evolving trade policies Revisions to FOMC members’ projections “had a somewhat ‘stagflationary’ feel, with forecasts for

Ahead of the FOMC decision, the Fed funds futures market was pricing in 55 basis points of easing this year. That’s shifted to 65 bps currently. At first that sounds strange given that the FOMC dot plot took a hawkish shift but the risk was that we would see Powell take an alarmist view of

The Financial Times says Trump’s tariffs are a ‘shadow’ over the US economy: I thought a dark shadow was some sort of candlestick formation, but perhaps that’s just me 😉 Anyway, I haven’t seen the details of the article (Financial Times is gated) but I’ll see what I can dig up. The FT is right

EMSC info: Magnitude 5.6 Region COQUIMBO, CHILE Depth 76 km 288 km WNW of San Juan, Argentina 33 km ESE of Coquimbo, Chile As noted in the sub-heading, Chile is the world’s largest producer and exporter of copper. I haven’t info on any mining/precessing/export implications as yet. This article was written by Eamonn Sheridan at

On Tuesday the German parliament approved a significant borrowing increase to fund infrastructure and security spending while easing borrowing restrictions. Germany is expected to spend €900 billion – €1 trillion over the next ten years, over 20% of GDP. Fitch projects the fiscal deficit to grow to 4-4.5% of GDP by 2027, up from 2.6%

Westpac-McDermott Miller New Zealand consumer confidence index fell to 89.2 in Q1 2025 from 97.5 in Q4 last year global trade war risks and ongoing cost of living pressures cited as impacting Westpac said poor results are likely for “a few more months at least” For this index, a reading below 100 indicates more pessimists

The US stock indices all traded negative for the entire trading day. Trump and Putin call did not help. Nor did the Nvidia GTC conference. The market is having trouble getting off its back. The wall of worry includes tariffs and the Fed decision tomorrow. What will the Fed say and do with the threat

US stocks cannot get out of the red today New Zealand consumer confidence weakened to 89.2 in Q1 2025, from 97.5 in Q4 2024 Zelensky: Talks about Ukraine without Ukraine will not bring about results Trump: Agreed to immediate ceasefire on energy and infrastructure Ontario Premier: US plans to introduce across-the-board tariffs on April 2

Passing along a snippet from RBC on EV maker Tesla (TSLA). says Tesla delivery fears may be overdone says the falls in drops in Europe and China are spatially a result of planned Model Y factory shutdowns RBC is optimistic that new models could boost sales in Q2 and Q3 2025 RBC acknowledge that TSLA

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

While the Bank of Japan is the focus, no change is expected: 52 of 52 economists surveyed expect the Bank of Japan to remain on hold this week. The central bank bonanza returns to town this week USDJPY Technical Analysis – Eyes on the BoJ and FOMC decisions If you are new to BoJ day,

Via oilprice.com: Expectations I had seen centred on: Headline crude +0.9mn barrels Distillates -0.3 mn bbls Gasoline -2.4 mn — This data point is from a privately-conducted survey by the American Petroleum Institute (API). It’s a survey of oil storage facilities and companies The official report is due Wednesday morning US time. The two reports

Noting this bullish news for BTC overnight … and also that the price fell a little. Strategy plans to sell $500 million of dollar-denominated perpetual preferred stock. The firm says it intends to use proceeds for general corporate purposes acquisition of Bitcoin for working capital Crypto media carry more info if you are after it.

I don’t think anything has ever happened in Canadian political history quite like what’s unfolding right now and I suspect it’s rare in western democracies. At the turn of the year, the Canadian Liberal party under Trudeau was polling at 16% compared to Conservatives at 45%. But shortly afterwards, the deeply-unpopular Trudeau announced he was

Nothing much here at all to move around major FX too much. Eyes on tariff headlines, if any! Singapore jobless rate and Japan data is about it. The Tertiary Industry Activity Index is a key economic indicator in Japan that measures the monthly performance of the service sector, encompassing industries such as retail, finance, real

US February retail sales +0.2% vs +0.6% expected US March Empire manufacturing index -20.0 versus -1.50 estimate US March NAHB housing market index 39 vs 42 expected Atlanta Fed GDPNow Q1 estimate -2.1% vs -1.6% prior Canada February housing starts 229K vs 250K expected Comments from Kevin Hassett highlight optimism around Canada and Mexico Trump

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

But the broader S&P and NASDAQ indices are trading to new session high with the S&P now up 1.04% while the NASDAQ index is up 0.87%. The Dow industrial average is also higher in trades up 1.14%. Looking at the hourly chart of the S&P index, the price moved above its falling 50 hour moving

There has been talk for awhile of a summit in the June 14-15 range. It’s a good sign that China tariffs won’t worsen before then. Trump also said he will be speaking with Putin on Tuesday. This article was written by Adam Button at www.forexlive.com.

Credit Agricole sees limited further downside for the USD, as the recent sell-off has lost momentum. The bank highlights three key reasons why the USD is unlikely to weaken significantly in the near term: (1) the Trump trade unwinding is largely complete, (2) US recession fears are overdone, and (3) the market’s Fed rate cut

Gold prices have risen to the US$3,000 mark, reflecting strong demand from central banks bolstering their reserves amid global economic uncertainty. The rally has intensified speculation about further gains, with DoubleLine Capital’s Jeffrey Gundlach forecasting that gold could climb to $4,000. Gundlach’s bullish outlook aligns with growing concerns over inflation, geopolitical risks, and the weakening

The US retail sales data released on Monday was a huge miss: US February retail sales +0.2% vs +0.6% expected With two months of 2025 retail sales data now in hand, signs of consumer caution are becoming increasingly evident. According to analysts at Bank of Montreal, real consumer spending appears on track for a sharp

Trump has announced that Michelle Bowman will be the Federal Reserve’s new Vice Chair of Supervision in a ‘tweet’ on his own social media app. ForexLive had this news last week! Michelle Bowman will be the new Federal Reserve Vice-Chair For Supervision To be fair, we were only passing on news from the Financial Times:

Local media here in Australia had the report Friday ICYMI: licences for hundreds of US companies to export meat to China will expire on Sunday if they aren’t renewed $US3 billion in US beef, pork and chicken trade to China is at risk I’ve seen estimates of higher than 3bn, up to 5bn. More: almost