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Results: 551 to 560 of 1,000
Results: 551 to 560 of 1,000
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Intraday Market Thought: US Stocks Highs, UK December Elections
by Adam Button | Oct 29, 2019 14:33
The S&P 500 hit a record on Monday as commentary from executives so far....The pound regains the 1...2890s after UK Labour leader Corbyn announced his party's backing for a....One of the final inputs for the Fed is release of the October consumer....3 to 125...9...Pending home sales edged up 1...5% from 1...4%, while house price data was mixed...The mystery charts below will be discussed in the Premium Video later....Towards UK December Elections....Labour Leader Corbyn finally agreed to holding a general election in December....Now we move into several votes amending elections laws...The rationale explaining GBP's moves nearing elections has been discussed in....Stocks are in the spotlight after Monday's record high in the S&P 500,....The jump came on the anniversary of Black Monday exactly 90 years ago –....There are historical parallels with the trade war and rising protectionism but....Trump has halted his offensive against China and a Phase One deal is now likely....Given the proximity to the 2020 election, the likelihood is that we get an....Central banks have also learned lessons with a wave of global easing....Yet there are similarities as well...The global trend of voters shifting to the fringes is well-underway...In a state election in Germany on the weekend, Merkel's CDU finished in....Huge protests have erupted in Chile, Lebanon and Hong Kong...Westminster is so dysfunctional that an election is held up on a three-day....The break in stocks signals some resilience in the economy...Commentary from CEOs outside of the hard-hit automotive industry talk about....Looking ahead, Wednesday's looming FOMC decision will probably keep a cap....The market is pricing in a 92% chance of a cut but the odds of another move in..
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Intraday Market Thought: A Powell Cut then what?
by Adam Button | Oct 30, 2019 13:00
A third consecutive cut from the Federal Reserve is imminent this evening, but....Due to the temporary time difference, the Fed decision is at 18:00 London, 19:....All currencies are up against the US dollar, led by CHF and GBP, with the JPY....US advanced Q3 GDP grew 1...9%, beating the exp 1...6%, but still below Q2's 2...0%....US October ADP report on private sector jobs showed a 125K rise vs the exp 110K....USD ignored both reports...The Sept figure was revised down to 93K from 135K...nbsp; The Pre-Fed English Premium Video is found below...Fed day is finally here and along with month-end it will surely unleash some....The market is pricing a 94% chance of a cut and it would be the biggest monetary....The intrigue lies beyond Wednesday...The market is currently pricing in a 27% chance of a cut in December...That was above the 40% midway through the month and near 50% at times in....At this point, a Phase One deal and an extended ceasefire are solidly priced....At the same time, the Fed is loathe to remove optionality and will preserve the....The goal of post-meeting communication will likely be to keep December cut....In theory that should mean minor tweaks in communication...The main risk Wednesday is a communication error...The most-recent Fed minutes indicated a growing push to communicate to markets....If Powell strikes the wrong tone in that signaling and dials back expectations....A similar message may also arise in the number of dissents or overly-optimistic....Can Equity Indices Rally Further?....Yes, sure...Powell could over-emphasize low inflation and economic risks; talking....The market could take that as a signal about more cuts, which would weaken the....The best case scenario for stocks and worst one for JPY would be for Powell to....Ultimately, Powell has gained some experience in his role and should have a....With regards to today's Q3 GDP release, it's far too early to get....The market is also jittery about a soft October jobs report because of the GM....The strike was not reflected in the ADP.
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Intraday Market Thought: Don't Overinterpret the News
by Adam Button | Nov 7, 2019 12:34Be careful out there...Do not immediately jump into shorting after each and every not-so positive....US indices pushed to fresh new highs as both sides agreed to roll back tariffs...We have yet to get a confirmation from the US...We argued in this week's English and Arabic Premium videos against rushing....The Negative....On Wednesday afternoon US time, reports emerged that the US-China trade deal may....Some said the agreeing on the location of the US-China trade deal signing could....The latest reports say China has refused Trump's proposal to have a ceremony....This would have seeming been an easy thing to give up for Beijing but Xi must....Now reports say there are proposals for a meeting in Europe...Worse is a Reuters report saying that the deal may not get done until December...Until this week, markets were fed a steady diet of politicians saying the....That goosed risk assets but now it appears there are more than just....China is demanding the removal of Sept 1 tariffs and perhaps others in exchange....On their side, they have moved to protect intellectual property and on....Yet it's tariffs at the heart of the trade deal and the market is beginning....AUD/JPY traded at the lows of the week on Thursday after the rally in the trade-....The Positive....Still, the market remains decidedly optimistic...Pushing back a deal a few weeks isn't itself a problem but if there are any....Also seeming to help sentiment, is China's announcemen of high-profile....A good example of how much trade is dominating the market is AUD this week...The news has been good and that extended to Thursday when the Sept trade surplus....The prior was also revised higher...Lately, trade numbers have been showed falls in both imports and exports but....Yet a 10-pip rally was wiped out in minutes and it's a laggard again.. -
Intraday Market Thought: Election Pop Burst
by Adam Button | Dec 18, 2019 12:28
The pound has given back all of its election night gains in a sharp fall....GBP is trading below 1...31 after UK Oct CPI remained unchanged at 1...5% y/y and core at 1...7% y/y...Eurozone Oct CPI stood unchanged at 1...3%....Canadian CPI is due up next...Below is the Premium subscribers' video, focusing on updating crucial....nbsp;....The market honeymoon for Conservatives abruptly ended Tuesday after the party....That will leave the EU and UK just 11 months to negotiate a new trading....Johnson insists that the existing relationship makes that a realistic....Barnier was recorded telling MEPs earlier this month that at best the....Cable fell more than 200 pips on the news and is now at 1...3090s, almost precisely where it was before the election exit poll was....There was a slice of good news on the GBP front early in Asia as both S&P....Interestingly, S&P saw "receding" risk of no deal,....both agencies stated that Johnson would eventually extend the transition period...Eyes turn towards Thursday's BoE's take on the post-elections climate....Aside from the pound, economic news was light but generally positive...US industrial production, housing starts and JOLTS all beat estimates...In markets, oil continued to make fresh post-Saudi attack highs...Another profit warning from FedEx will be seen how it impacts Dow....Looking ahead, the economic calendar is important for the Canadian dollar....Canada is one of the few countries with above-target inflation and might be the....The consensus for Wednesday's report is +2...2% on the core and +1...9%-+2...2% on the three core measures...So far, inflation hasn't captured the market's attention but a further..
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Intraday Market Thought: 5 Near-Term Themes
by Adam Button | Jan 17, 2020 18:02
You probably had your fill of "2020 themes", so why not another? The....China...The US-China trade deal removes a major worry for Beijing, which may take action....nbsp; Officials strongly hinted that another RRR rate cut isn't coming,....That would be powerful -- and if they do, I see bright days ahead for the....Inflation watch....A pair of US inflation reports this week were on the low side of expectations....The Fed has confined itself to the sidelines but there is life in inflation...Heading into next month, we roll over some tough comps and that sets a lower....I think there's a chance that at some point this year, inflation is a....Housing....Central banks haven't been able to spark broad based inflation, but they&....With all the rate cuts last year, an underrated risk is a surprise rise in....We're already starting to see signs of tighter market in New Zealand which....Thursday's home builder sentiment numbers in the US were a bit stronger as....Oil....US shale oil is not what it appears to be...Every budget that comes out points to less spending this year and the market....Natural gas is worthless in many parts of the US and is being burned off at....On top of that, the risks for the US election are higher in energy than....The market is overly comfortable around $60 but a fall below $50 would create a....Iran....A week ago we were on the brink of war and now the world has forgotten about....Geopolitics are impossible to price in...You can't price in half-a-war...The thinking now is everyone got to flex their muscles, but a report on Friday....That puts to bed the theory that Iran was knowingly dropping bombs that wouldn&....The chance of Iran or Iran-sponsored militias launching attacks remains high....US election....The election is the one risk that everyone can point to and it's....The world will change on Nov 3 but it's a binary risk and that's tough....At some point there will be a pre-election de-risking but it's tough....The following remains valid...so far: Trump is staying in the White House as long as a recession or a stock..
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Intraday Market Thought: Is Yen-Centric Risk Back?
by Adam Button | Feb 20, 2020 17:34
The yen plunge of the past two days threatens to re-write the rules of....We look at the move and the disjointed risk picture it unravels...Indices are tumbling across the board after high profile failure to follow-....Take a look at the historical GOLD vs YEN chart below...nbsp; Ashraf asked imagine how low would the S&P500 be today if ETrade did....كيفية إدارة الصفقات الثمانية فيديو للمشتركين...The playbook in yen trading for a generation has been to largely ignore....In addition, huge Japanese overseas investments and the tendency to bring....Is that dual axis breaking down? It's far too early to draw any conclusions....There is some element of risk appetite in play but gold is at 7-year highs and....What changed is a brutal GDP report at the start of the week...The 6...3% annualized drop is breathtaking and while a 3...8% fall because of the sales tax hike was anticipated, that's a much....Without annualizing, it's a 1...6% q/q decline, wiping out all the growth since mid-2017...It was followed up Wednesday by a poor machine tool orders report and the yen....The message of the market might be twofold:....1) That the BOJ will have to reach deeper into experimental policy...They've already crossed many previously-unthinkable thresholds and....2) The sharp drop in growth in Q3 shows that consumers and the economy can't....3) Coronavirus is now a consideration...Certainly Japan is at a higher risk of an immediate outbreak than the US or....Some say Japan was betting heavily on the summer' Olympics...Would the virus cause visitors to stay away from the Land of the Rising Sun?....4) The yen is no longer the only funder...It's not a coincidence that this takes place as the euro and Eurozone....In many ways – particularly on the deficit side and monetary policy side....This is something we have been highlighting for months and will be....Again, we have to emphasize that it's far to early to anticipate any kind of....A number of factors are in play including technical breaks and a squeeze....00 in USD/JPY and a breakout from unusually low volatility...A change in regimes isn't going to happen overnight, but we're watching..
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Intraday Market Thought: We’re Beyond Coronavirus
by Adam Button | Mar 16, 2020 23:49
The rout in risk assets is no longer just about the coronavirus...Yes, we can highlight a dozen economic negatives directly from the virus but we....We are not efficient market proponents, but the market is certainly capable of....The EU announced it's highly likely to be in recession, while the US Empire....فيديو المشتركين اذا كانت هناك صفقتين للشراء، ما هي؟....Even in a worse-case scenario of about 4% global mortality, you could argue that....Yet, what's being priced in now are the second-order effects...There are increasing solvency risks in the energy sector and mass bailouts in....The entire hospitality industry is under threat with countless small restaurants....An early tell on how the government will proceed, is the structure of an airline....The WSJ reports the White House is looking at $50B for airlines in an....The report says one of the possibilities is cash grants, and that's a....Ashraf estimates that by end of June, bailouts and federal govt assistance....Markets today, yesterday, Thursday, Wednesday, month to date, Year to date...While the market may initially cheer anything that safeguards shareholders,....Not only will it escalate costs and deficits but it raises the risk of....This is the time when the moral hazard from the 2008-09 bank bailouts looms....Everyone wants, expects and demands a bailout now...That's going to prove to be impossible...What the market is pricing in – at least partially – is social and....We have written often in the past year about the growing fractures in politics....This event is another spark that will light fuses around the world...In FX, the yen continued to gain ground in the volatility as the classic safe....USD/CAD hit 1...40 for the first time since 2016 and remains far too low for a global....We got a first taste of the scope of the US slowdown Monday with the Empire Fed....It plunged to -21...5 from +12...9...That's merely the leading edge of the economic cliff of coronavirus...nbsp; Another real-time data point to watch will be Tuesday's German ZEW....The consensus is a drop to -27...2 from +8...7.
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Intraday Market Thought: US Claims Conspiracy, Remdisivir Awaited
by Adam Button | May 4, 2020 19:50
US Indices paring their losses into the final hour of Monday's trade, while....Monday began deep in the red in Asia and throughout Europe after the US....May seasonals point to dollar strength and AUD weakness...Shutdowns relaxed in Italy and Spain...Trump raised the expected US death toll from Covid-19 to 100K and Russia....Gilead's newly approved anti-virus drug remdesivir will be sent to....A war of words is brewing between the US and China with the source of COVID-19....On Saturday, Fox Business reported that “there is agreement among most&....Secretary of State Pompeo took it a step further on Sunday and told ABC there is....However the TV exchange was as confused as it was remarkable as he said “....Moments later the interviewer told him that the release from the Director of....rdquo;....To be clear, this is third-highest member of the US executive branch....At best China will brush this off as an election tactic, but more likely it....A report on Thursday also suggested the US will pursue some kind of punishment....Even without the coronavirus, the deterioration in US-China relations....Worse still, the Oracle of Omaha was far-from inspiring at Berkshire Hathaway&....While he extolled America's ability to overcome challenges and predicted a....His actions spoke even louder as he dumped his entire position in US....May Seasonals & Payroll Tax Cuts....Risk assets are soft to start the week and the seasonal trend is for more along....May is the strongest month for the US dollar index and even more so for the....It's also the worst month for the Australian dollar and the euro over the....Meanwhile, Trump insists he won't pass any further stimulus measures to....The measure would be seen as a complementary strimulus to helicopter..
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Intraday Market Thought: Three Big Questions
by Adam Button | May 22, 2020 18:23
FX and indices remain reluctant to break out of recent ranges as the euro,....We await some catalyst to break the recent ranges or reinforce them...As market volumes wind down ahead of the long weekend holiday in the US and UK,....And here is a chart from Ashraf illustrating the near perfect symmetry....1) US-China relations....On Thursday US Senators announced a bill that would sanction China over Hong....The news hurt broad sentiment and pulled the euro back below 1...10...It's now almost a certainty that the path of US-China relations will be....The only question is how quickly and severely it deteriorates...Much of the prosperity and disinflation of this century has been a result of....Disentangling the supply chain doesn't necessarily undo that regime due to....One possible risk is that China and the US carve up the world into separate....China's recent spat with Australia suggests it's not in a rush to make....We're less sure but there's no reasonable path where this isn't a....Interestingly, Emerging Markets strategists are feeling in the mood-....Goldman Sachs went as far to say "buy the world's worst stocks because....And GMO told clients to buy the riskies of the risky: Argentina Debt...2) The virus....We still know so little about the virus, from how many people have fought it....Anti-body surveys have been over 20% in New York but are near 5% in hard-hit....There is no scientific consensus...The timeline and potential for a successful vaccine remains deeply....More importantly is a short-term read on how consumers will react...On Thursday, Starbucks said store sales were back to 80% of pre-COVID levels but....3) The great loosening....Austerity is dead...Voters won't vote for it and politicians are increasingly....We're undoubtedly entering an era of deficit spending but it's unclear....At the same time, central banks have shifted to a regime where they will keep....This is a dangerous game that ends in inflation and currency debasement but....All three are big, ongoing changes and add deep layers of volatility and....That won't last but for now markets are taking comfort in cheap, easy money....About our NEW WhatsApp Broadcast Group..
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Intraday Market Thought: The Moment of Truth?
by Adam Button | Sep 21, 2020 23:15
There are a long list of great uncertainties in financial markets right....The US dollar was the top performer while the New Zealand dollar lagged...The US Richmond Fed and existing home sales are up next...The Premium DOW30 trade hit its final target of 27050 for 1210 pt gain and....nbsp;By the time Nasdaq completed its 14% high-to-low decline, it ended up....Yet, all indices remained below their 55-DMA...nbsp;Do not waste time...nbsp;Skip to the 5:00 mins of the clip of the Sep 3rd video (week of Sep top)....nbsp;....Since the pandemic bottom, the balance of rates vs uncertainty has tilted....It's led to unprecedented bounces is equities, a major move in gold and....By many metrics, it's gone too far...Then again, central banks may have also gone too far...In explaining his FOMC dissent on Monday, Kaplan said the Fed risked inflating a....Up until Monday, the dip in technology stocks was largely ignored by the FX and....That changed with equities taking a broader leg down on Monday, led by....What may have changed is that rising COVID case numbers are triggering fears....The US has so far shown a high threshold for COVID-driven economic weakness but....Most likely, the kinds of numbers many US states are tolerating right now would....The balance of it all begs for another look at the charts...Despite some larger moves on Monday, there were few breakouts...Cable held the Sept low, the euro rebounded back into the range from a....Here is a recap of Ashraf's calling the top of gold & silver 15 hrs....nbsp;....Note too that markets bottomed in June on the Monday after the FOMC...In spite of the mountain of worries, the potential for a vaccine and easy policy....Ultimately, it will come down to the charts and the data...On Tuesday we get August existing home sales (exp 6...0m) and the September Richmond Fed (exp +12)....nbsp;....Soft numbers and other day like Monday would be a strong signal.
