Here’s your Forex Trading daily digest 📊. Stay ahead of the FX market with today’s top news.
1. OPEC+ likely to agree to another production increase on Sunday – report
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It’s a bull market in many markets at the moment but certainly not in oil, which is likely to get more bad news on Sunday.
Initial reports about Saudi Arabia pushing for a further production …
2. investingLive Americas FX news wrap: Non-farm payrolls disappoint again
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- August US non-farm payrolls +22K vs +75K expected
- US stocks trim losses late but finish lower on the day and the week
📌There was something of a random walk down Wall Street today but it ended in the red-ink districts. The jobs report was poor and initially the market took that as good news due to more rate cuts bei…
4. Late-day bids have arrived in the stock market all week long
📌There are some modest bids that have crept in over the past hour but the S&P 500 is still down 26 points, or 0.4%. All week long there have been strong bids into the close so let’s see if we ca…
5. RBC: Trade war hit Canadian jobs market in August
📌RBC economist Claire Fan is out with a review of today’s soft Canadian jobs report. Jobs fell by 66K after a 41K decline in July in what’s clearly a worsening picture.
She notes that the weak…
6. Fed’s Goolsbee: We’re open to criticism on improving Fed decision making
📌Some comments on TV:
- We’re open to criticism but totally opposed to taking away independence
- Anyone who joins the FOMC will take the job seriously
…
7. It’s a textbook breakout in gold so far
📌You can put that gold chart in the technical analysis text book, at least so far.
Gold has been in a long-term bull market, almost a parabolic one from $2000 post-pandemic. After spiking to a…
8. European equity close: Soft start to September
📌It was a soggy start for European stocks this month as most indexes sagged this month. The DAX tried to recover mid-week but never made it and today’s selling put it near the lows of the week.
…
9. Euro rises to the highest since July 27 as the US dollar wilts. What’s next
📌The euro has been one of the beneficiaries of a weakening US dollar following another soft non-farm payrolls report. It’s up 96 pips to 1.1745 and touched as high as 1.1759. That’s a fresh high sin…
10. Stock markets feel the recession pinch. Why the thinking about the economy is changin
📌The stock market is struggling to decide on whether it likes rate cuts enough to ignore a weakening economy.
I highlighted earlier that there are 135 bps in cuts priced in over the next year …
That’s a wrap on forex news today 🌍. Drop a comment on which currency pair you’re watching!
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