News

Market closes down exactly 20% from the highs US stock markets crumbled into the close and the S&P 500 finished down 65 points, or 2.7%, to 2351. That’s almost exactly 20% lower from the all-time high, which was set September 24. The index is also at the lowest since April 2017 as sentiment crumbles on
Worse than the Great Depression Trump mulling about firing the head of the Federal Reserve along with non-stop risk aversion has tipped the US equity market over the edge once again. The S&P 500 is down 48 points, or 2.0%, to 2369. At that level, this December would be worse than at the height of
Forex news for Asia trading Monday 24 December 2018 Weekend: US politics again provided a shove for financial markets. Over the weekend US Treasury Secretary Mnuchin relayed that US President Trump never suggested firing Federal Reserve Chair Powell. White House budget director Mick Mulvaney (who will be the new chief of staff) followed up by
The weekly forex positioning data in the CFTC Commitments of Traders report for the week ending Tuesday, December 18, 2018 EUR short 53K vs 56K short last week.  Shorts trimmed by 5K GBP short 61K vs 42K short last week. Shorts increased by 2K JPY short 103K vs 98K short last week. Shorts trimmed by 12K
US  stockpiles on political risk I came across this Reuters article to bring to our readers attention. Since President Trump announced 25% tariffs on $200 bin worth of Chinese imports US retailers have been stockpiling goods as they have brought orders forward to try and avoid the potential implication of tariffs.  Companies such as Walmart
Bridgewater (world’s largest hedge fund): US 2019 growth to be near recession level Coming Up! Title text for next article Comments from Greg Jensen, co-CIO of Bridgewater Associates  forecasts ‘significantly weaker, near recession level growth’ in 2019 Says financial markets ‘not pricing in’ 2019 US growth close
Washington Post reports The US and 12 allies are expected to accuse Beijing for China’s persistent efforts to steal other countries’ trade secrets and advanced technologies.  They also will charge Beijing with compromising sensitive government and corporate computers.  In other words spying. The article adds that the “U.S. Justice Department is expected to unveil criminal
Australian jobs report for November due today – preview Coming Up! Title text for next article Earlier preview of the employment report is here: Another few quickies. Via NAB: expects employment grew 20k in November unemployment rate stayed at 5% (alongside an unchanged participation rate).  there’s
FT picks Soros as its person of the year for defending liberal democracy 88-year-old George Soros was named the FT’s person of the year in a move that sure to stir some of his many critics and legions of conspiracy theorists. The FT said the honor is  “usually a reflection of their achievements. In the
All eyes are on the Fed decision today ForexLive With markets still anticipating a dovish hike by the Fed later today, the greenback remains on the back foot as we begin things here in Europe. Trading ranges are still relatively narrow for the most part with EUR/USD having a 30 pips range while NZD/USD sits
The Australian Prudential Regulation Authority says it will remove the cap on interest only mortgages APRA put the cap in place to reduce the growth in these types of mortgages, thinking the rapid growth was a risk. This led to a large-scale switch over to principal and interest loans. APRA now to wind back the
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Equities are showing slightly better sentiment so far today ForexLive S&P 500 futures +0.35% Nikkei +0.69% Hang Seng +0.10% Shanghai Composite +0.10% On Friday, weak Chinese data set off worries about further slowdown in global trade and that saw equities and risk have a tough time in trading. But as we start the new week,