Category Finance

The strongest NY Fed manufacturing PMI since April 2022 helped to lift USD/JPY off the floor. The pair touched as low as 139.59 today but rose around 40 pips on the PMI and has continued to track higher, rising to 140.55. Aside from JPY, the US dollar is…

The USDCAD has been consolidating over the last 4-5 trading days. After reaching the high on Tuesday and Wednesday last week, the price has seen lower highs including today’s high (so far at least). However, the lows since midday Tuesday has bottomed near 1.3564. That is now just…

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Headlines: Dollar remains pinned down to start the new weekMajor central bank decisions to dominate the agenda in trading this weekECB’s de Guindos: Our projections show inflation will hover around 2% by end of 2025ECB’s Kažimír: Will almost surely wait until December for next rate cutEurozone July trade…

Negotiated wage growth will remain high and volatile over the remainder of the yearA gradual approach to dialing back restrictiveness will be appropriate if the incoming data are in line with the baseline projectionWe should retain optionality about the speed of adjustment Lane is putting 50 bps on…

As the North American session begins, the AUD is the strongest followed closely by the GBP, and the USD is the weakest. The Federal Reserve will meet on Tuesday and again on Wednesday before announcing their rate decision on Tuesday at 2 PM ET. A press conference will…

General business conditions 11.5 versus -4.7 priorBest reading since April 2022New orders 9.4 versus -7.9 priorShipments 17.9 versus 0.3 priorUnfilled orders 2.1 versus -7.4 priorDelivery times -1.1 versus -3.2 priorInventories 0.0 versus -10.6 priorPrices paid 23.2 versus 23.4 priorPrices received 7.4 versus 8.5 priorNumber of employees -5.7 versus…

Prior was -2.1%Manufacturing sales ex-autos +1.6% vs -1.6% priorSales at $71.0 billion vs $69.6 billion priorSales -1.1% y/y vs -1.8% y/y priorTotal inventory levels +0.9% vs +0.1% priorInventory to sales 1.73Unfilled orders +0.6% vs -0.8% prior This is a good number and a nice rebound but inventories are…

It’s been quite a turn for former New York Fed President Bill Dudley. Back in late May, he was calling for the Federal Reserve to hike rates further but now he’s saying they should be cutting by 50 basis points. The two objectives of the Fed’s dual mandate…