Meta Miss Ahead?
Meta earnings are due out after the close on Wednesday and their seasonal bias into month end has a distinctly dour outlook. From the start of the year Meta has gained over 150% and it’s return has only fallen behind…
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EURUSD tends to fall over the ECB rate meeting
Short-term interest rate markets currently see a 100% chance of the ECB keeping rates unchanged On October the 26th meeting. The terminal rate is seen as being around the current level of 4%. The question is will the ECB recognise…
Watch for USDJPY selling
The 150 region on the USDJPY has seen intervention from Japan's Ministry of Finance in the recent past. Remember that the move higher in US yields, recently supported by a strong US retail sales print, also supports the dollar yen.
Tesla Seasonal Favour Buying
Teslas earnings are due out after Wednesday's close and there are a number of factors to consider. Teslas market share is around 20% of the global EV market at second, only to the Chinese manufacturer, BYD.
Can Soybean prices recover from here?
There are some mixed messages for Soybean markets with a bumper crop from Brazil, but high temperatures over the US Summer have been impacting expectations for the US’s crop grade and concerns that China’s consumer habits may be changing too have weighed on sentiment.
Can the AUDUSD soar on dovish fed hopes?
The latest PPI data this week out of the US was hot and the US CPI yesterday was mildly firmer than markets were expecting. However, recent more dovish Fed rhetoric has increased expectations of the Fed reaching peak rates.
Q4 is super strong for the S&P500
Over the last few days, markets have been confronted by a confused message. On the one hand, the Feds recent messaging has become more dovish indicating that the recent surge in yields could mean the federal reserve doesn’t need to hike in November. However, on the other hand, the PPI print on Wednesday surprised significantly to the upside indicating the Fed had more work to do.
Dollar Index Vulnerable To A Correction
The latest CFTC report shows that traders are stretched to the long side on the USD. When you can see stretched positioning it means that there is a vulnerability for a sharp correction if there is any reasons for USD selling.
Gold gains into the US CPI?
US CPI is expected to pull back to 3.6% from August’s print of 3.7% and the core is expected to fall for the sixth month in a row down to 4.1% from the prior reading of 4.3%. This should keep yields and the USD mildly pressured.
Is there room for some AUDCAD upside?
The recent run of bad news from China looks like it may have run its course with analysts' hopes rising that the worst may be behind China. Hopes for a more positive Q4 are starting to build with strong levels of fiscal support and the latest PMI prints out of China show moves into expansionary prints above 50.