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1 month ago | 
fxstreet.com | Stephen Innes
Global trade tensions kept markets on edge Tuesday, with stocks swinging violently before ultimately closing in the red—despite flickers of optimism in U.S.-Canada trade talks.
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Jan 16, 2025 | 
fxstreet.com | Stephen Innes
Today's FX market is tuned into another expected round of positive US activity data. Still, the spotlight is sharply focused on the Senate confirmation hearing for Scott Bessent, Trump’s nominee for US Treasury Secretary. If Bessent emphasizes the critical importance of the dollar’s global status to the US economy, the dollar may find bolstered support.
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Jan 15, 2025 | 
fxstreet.com | Stephen Innes
Wall Street soared on Wednesday, riding a wave of euphoria as bullish bank earnings smashed expectations. A critical inflation report delivered a pleasant surprise, hinting at a slowing pace of core price hikes. The S&P 500 rocketed over 1.8%, while the Dow Jones Industrial Average surged more than 1.6%, adding a robust 700 points. The tech-centric Nasdaq Composite outperformed, catapulting up by 2.5%.
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Jan 15, 2025 | 
fxstreet.com | Stephen Innes
Yesterday’s subdued Producer Price Index (PPI) might have momentarily softened the dollar, but today’s Consumer Price Index (CPI) looms large, poised to bolster the greenback potentially. We’re bracing for a 0.3% monthly climb in core CPI, which could solidify the dollar’s resurgence.
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Jan 14, 2025 | 
fxstreet.com | Stephen Innes
US stocks ended Tuesday with mixed fortunes as Wall Street navigated through calmer waters following the release of the latest inflation figures and simmering reports of President-elect Donald Trump's tariff strategy. The Producer Price Index (PPI) for December provided a glimmer of hope, rising less than expected and hinting at a potential easing of inflationary pressures.
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Jan 14, 2025 | 
fxstreet.com | Stephen Innes
The FX markets are currently dominated by a seismic shift in Federal Reserve rate cut expectations, all triggered by a surprisingly robust non-farm payroll report. Expectations have cooled, with the next Fed cut not expected until October, plunging EUR/USD to a stark low of 1.0177 and magnetizing the G-10 currencies in its descent. Despite this dive in the plunge tank, USD/CNY has held its ground, buffered by vigorous Fix interventions from the Chinese central bank.
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Jan 13, 2025 | 
fxstreet.com | Stephen Innes
After the S&P 500 index dramatically wiped out almost all its post-election gains, rattled by a bond market spooked by soaring inflation and climbing interest rates, the downturn was further fueled by President-elect Donald Trump's aggressive economic agenda. In this volatile environment, investors cautiously dipped back into the market, sensing an opportunity. This sparked a spirited rebound in the Dow and S&P, driven by the sturdy fundamentals of the US economy.
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Jan 12, 2025 | 
fxstreet.com | Stephen Innes
Benchmark crude prices have kicked off the year with an unexpected boost, fueled by speculation that President-elect Donald Trump will intensify oil sanctions on Iran. This comes alongside President Biden’s increased sanctions on Russian tankers, contributing to higher oil prices at the start of the year. Despite this, the energy forecasting community remains cautious about the future direction of oil prices.
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Jan 12, 2025 | 
fxstreet.com | Stephen Innes
Friday's hot US jobs data sent yields soaring, torching Wall Street's bulls and severely scrutinizing the S&P 500’s red-hot rally. As the new trading week unfolds, market watchers are on edge, praying for an inflation cooldown that might halt the relentless march higher of 10-year US Treasury yields to provide some semblance of rate relief. Yet, given the recent surge in strong economic data following the Fed's 100 basis points cut since mid-September, the heat is truly on.
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Jan 12, 2025 | 
fxstreet.com | Stephen Innes
Friday’s US jobs report detonated like a financial bombshell, sending shockwaves across Wall Street as stocks tumbled and bonds buckled under the unexpected vigour of the American labour market. Nonfarm payrolls skyrocketed to a staggering 256,000, obliterating the forecasts and sending a clear signal: the US economy is not just alive; it's kicking hard.
