Page 2 - High Moving Average News Today

MacroBusiness Access Subscriber Only Content at 8:30 am on July 16, 2021 | 4 comments Risk markets continue to swing from hope to fear with the latter ruling again overnight without any obvious catalysts. Both European and US stocks fell back around 1% or so with commodities equally mixed as oil dropped 2% while industrial metals lifted. The USD rebounded after falling back midweek while bond yields also fell back to their weekly lows as Fed Chair Powell re-iterated the Fed’s stance to the Se...

MacroBusiness Access Subscriber Only Content at 8:31 am on July 14, 2021 | 1 comment Last night saw an unexpected turn in so-called transitory inflation with the US June print soaring higher while German inflation was characteristically on track as expected. The latter saw European stocks trend sideways while the former saw Wall Street fall back from its usual trend of new record highs. Treasury yields pushed higher not helped by weaker auction results while the USD lifted across the board agai...

MacroBusiness Access Subscriber Only Content at 9:00 am on July 13, 2021 | 2 comments Friday night’s rally on Wall Street caused Asian stocks to rebound yesterday and overall risk sentiment rised in response overnight with European stocks lifting the most, yet Wall Street still put in another new record high.  Treasury yields pushed slightly higher but still remain near their yearly lows while currency markets were relatively quiet given the lack of economic releases. Oil prices moderated wh...

MacroBusiness Access Subscriber Only Content at 8:30 am on July 12, 2021 | 8 comments A risk off situation was brewing across stock markets at the end of last trading week but a rally on Wall Street, seemingly without catalyst as seen confidence return across the board. Treasury yields pushed slightly higher but still remain near their yearly lows while the USD pulled back against everything except Yen as safe haven buying abated. Oil prices spiked up 2% again while gold made another new daily ...

MacroBusiness Access Subscriber Only Content at 9:00 am on July 9, 2021 | 1 comment A risk off situation is brewing across stock markets as bond yields drop back to new lows as sentiment around continued COVID outbreaks weighs heavily. Wall Street dropped nearly 1% while European stocks fell nearly 2% as the ECB changed its inflation target regime, with Euro spiking although USD remains strong against the commodity currencies, but Yen safe haven buying accelerated. Treasury and Australian 10 ye...

MacroBusiness Access Subscriber Only Content at 8:30 am on July 8, 2021 | 5 comments Wall Street got out of its grumpy start start to the week with a return to new record highs overnight as the latest FOMC minutes indicated any tapering action is still far far away.  European markets also got back on the risk-on train with some sharp rebounds despite a drop in German industrial production although this was mainly due to a new low in Euro as USD regained strength as Treasury yields returned to ...

MacroBusiness Access Subscriber Only Content at 8:30 am on July 7, 2021 | 1 comment Risk markets turned from relatively quiet to very cautious overnight as US traders returned from their long weekend in a poor mood, with Wall Street slipping.  European markets all retraced sharply on the poor German ZEW showing with factory orders also disappointing. Commodity prices were all over the place with Brent oil initially higher before getting sold off later in the session, with a similar move in gol...

MacroBusiness Access Subscriber Only Content at 8:30 am on July 6, 2021 | 1 comment Risk markets were relatively quiet overnight as the US holiday following the latest non-farm payroll (NFP) unemployment print on Friday kept sentiment neutral and reduced the chances of any volatile response. European markets were nominally bullish with some mild lifting while the USD and bond markets were relatively unchanged. Commodity prices saw the most action with oil lifting sharply on OPEC’s inability t...

MacroBusiness Access Subscriber Only Content at 9:00 am on July 5, 2021 | 0 comments A new non-farm payroll (NFP) unemployment print in the US has reset the tone for US stocks at least with a good headline but mixed internal report equating to an unlikely early taper by the Federal Reserve. This embiggened traders on Wall street to push the S&P500 to a new record high but other stock markets are less sanguine. The USD retraced against the majors with oversold Aussie dollar bouncing back as did ...

MacroBusiness Access Subscriber Only Content at 9:00 am on July 2, 2021 | 1 comment A new trading month brings more risk taking with both European and US shares lifting across the board with the S&P500 putting in a new record high and traders expecting a solid jobs report from the NFP later tonight. While the latest ISM manufacturing slipped slightly it was very robust with initial weekly jobless claims coming in lower than expected. Bitcoin continues to taper, falling back to below the $34K le...