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In this podcast, FXCM Senior Market Specialists, Nikos and Russell, discuss the NFP, participation rate, and unemployment rate. The two also look at the Fed pivot and what it means for the market. RBA and BoC statements are due for release this week, and Friday sees the CPI numbers. Join us for perspectives on these and more.
This has been volatile week, which ended with solid NFPs from the US, while Omicron developments, renewed hawkish commentary from the Fed, OPEC+ and corporate activity were in the spotlight
The emergence of the new Omicron Covid strain lead to a big market sell-off on Friday as participants sought safe-havens. Join FXCM Senior Market Specialists, Russell and Nikos, as they discuss what this means for markets. The two also talk about this week's important calendar items, including Fed Chair Powell's testimony on Capitol Hill, the OPEC+ meeting on Thursday, the NFP release on Friday, and more.
During this eventful week, we saw high Fed activity, a data dump from the US before the Thanksgiving holiday, quarterly results from high profile companies and intense risk aversion in the last trading day due to new Covid variant
The GER30 gapped down on open today, as a risk-off sentiment prevails. The catalyst is covid-19 developments. In Europe, countries are starting to reintroduce restrictions to deal with rising infections. On Wednesday, Italy announced new Covid measures, and Germany narrowly avoided another lockdown, preferring to see if stricter Covid passport rules help alleviate the situation. Moreover, concerns over a new Covid variant have added to the fears. The B.1.1.529, or…
Various members of the US central bank have been making hawkish remarks lately, fueling the Dollar’s advance, while yesterday’s minutes form the last policy decision were also on the hawkish side
US10Y At Neckline Source: www.tradingview.com Past Performance: Past Performance is not an indicator of future results. The US10-Yr Treasury yield is up sharply for the week, currently trading at 1.68%. The nominal rate is now trading at the neckline of the inverse head and shoulders pattern. A break above the neckline will effectively complete the reversal pattern and signal that the market is pricing in higher real yields, inflation, or…
The US President announced that the Department of Energy will make available 50 million barrels of oil from the Strategic Petroleum Reserve (SPR)
US President Biden announced his intent to nominate Mr. Jerome Powell for a second term as Chair of the Board of Governors of the Federal Reserve System
In this article: 1. University of Michigan consumer survey misses consensus. 2. US consumers are gloomy. 3. Inflation is rampant. 4. The Fed may have to pivot on policy. Friday's preliminary consumer sentiment reading from the Univesity of Michigan was sobering. US consumers are hurting. Last month's print was 71.7, and 72.5 was the consensus for Friday's number - it came in at a paltry 66.8. Faced with the prospects…
High US Inflation and the relevant rise in US Yields and Fed rate hike bets, were the main themes during this week and the key drivers of market movement, while we also had some high profile companies reporting
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