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Oct 4, 2024 | 
wsj.com | Richard A. Snow
Gore Vidal once observed that the best way to get a miscellaneous group of people talking enthusiastically together is to bring up the subject of movies. But there’s another surefire conversation igniter, as long as the group is made up of Americans: cars. The Driving Machine: A Design History of the Car W. W. Norton & Company 256 pages We may earn a commission when you buy products through the links on our site.
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Aug 30, 2024 | 
dailyfx.com | Richard A. Snow
AUD/USD Overview:37.84% of traders are long, with a short-to-long ratio of 1.64:1Long positions: ↑ 1.20% from yesterday, ↓ 12.53% from last weekShort positions: ↑ 1.79% from yesterday, ↑ 15.53% from last weekRetail traders as a collective tend to be trend fighters, which is not optimal when markets are trending. The trend is your friend, as the saying goes, and this forms the basis of why it is often useful to adopt a contrarian approach to client sentiment positioning.
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Aug 29, 2024 | 
dailyfx.com | Richard A. Snow
US GDP, US Dollar News and AnalysisUS Q2 GDP edges higher, Q3 forecasts reveal potential vulnerabilitiesQ3 growth likely to be more modest according to the Atlanta FedUS Dollar Index attempts a recovery after a 5% dropUS Q2 GDP Edges Higher, Q3 Forecasts Reveal Potential VulnerabilitiesThe second estimate of Q2 GDP edged higher on Thursday after more data had filtered through.
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Aug 28, 2024 | 
dailyfx.com | Richard A. Snow
Aussie Inflation Data Remains Mixed as Electricity Rebate Artificially Lowers CPIAustralian inflation rose at an annual pace of 3.5% in July, down from 3.8% in June according to the Australian Bureau of Statistics. The data point was slightly above the 3.4% estimate and while it looks encouraging at face value, much of the drop was due to rebates for the price of electricity which artificially lowered the CPI measure.
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Aug 27, 2024 | 
dailyfx.com | Richard A. Snow
Brent, WTI Oil News and AnalysisGeopolitical uncertainty and supply concerns have propped up oilOil prices settle ahead of technical area of confluence resistanceWTI respects major long-term level but geopolitical uncertainty remainsThe analysis in this article makes use of chart patterns and key support and resistance levels.
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Aug 23, 2024 | 
dailyfx.com | Richard A. Snow
Japanese Yen (USD/JPY) Analysis BoJ encouraged to stick to the plan as inflation continues above target Japanese CPI remains at 2.8% - the same as last month and beats estimate of 2.7% USD/JPY gains prove short-lived ahead of Powell’s address at Jackson Hole BoJ Encouraged to Stick to the Plan as Inflation Continues above Target The Japanese currency strengthened, with the Yen gaining as much as 0.7% against the US dollar, following comments from Bank of Japan (BoJ) Governor Kazuo Ueda...
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Aug 22, 2024 | 
dailyfx.com | Richard A. Snow
Oil - US Crude:The oil market has continued to trade lower as the outlook for global oil demand growth comes under pressure. The Fed is expected to cut interest rates next month after a deterioration in the labour market saw the unemployment rate rise unexpectedly to 4.3% in July. Yesterday, minutes of the July Fed meeting teed up September for a 25 basis point (bps) cut but markets still price in a 30% chance of a 50 bps cut first up.
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Aug 21, 2024 | 
dailyfx.com | Richard A. Snow
Japanese Yen (USD/JPY) AnalysisJapan’s July trade balance likely impacted by a significantly stronger yenEconomists and market participants expect another rate hike this yearUSD/JPY bearish continuation may receive a helping hand from the FedJapan’s July Trade Balance Likely Impacted by a Significantly Stronger YenJapan’s trade balance in July was worse than expected but the deficit was roughly half of what was seen in May and roughly one third of what it was in January.
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Aug 20, 2024 | 
dailyfx.com | Richard A. Snow
Gold, Silver Technical AnalysisGold surges to new all-time high on rate cut hopes, geopolitical uncertaintySilver maintains bullish advance to break above key trendlineThe analysis in this article makes use of chart patterns and key support and resistance levels.
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Aug 19, 2024 | 
dailyfx.com | Richard A. Snow
Downward Dollar Gains Momentum, Testing the Monthly LowThe US dollar has been on a downward trajectory since early July, declining as nervousness in the job market surfaced via a rising unemployment rate. This, coupled with marginally lower inflation data has contributed to an overwhelming view that the Fed will look to September to get its rate cutting cycle underway, possibly using Jackson Hole as the platform to communicate such a preference.
