RBNZ’s Additional Monetary Policy toolkit- RAMPed up. The Reserve Bank of New Zealand has published a guide to their additional monetary policy (AMP) tools in the wake of the COVID-19 pandemic in 2020. The new tools that have been used in the past year include:
Westpac note near term risk of 0.70 for AUD/USD but maintain 0.78 year-end target Noting an updated outlook for the Australian dollar from Westpac. WPAC say the near term risks are for a test of 0.70 if the US$ remains solid. But by late Q3 and early Q4
Warby Parker Plans to Go Public Via Direct Listing The direct-to-consumer company in June confidentiality filed a draft registration statement with the Securities and Exchange Commission for a public offering.
ForexLive Americas FX news wrap: Reopening trades run higher Forex news for New York trade on August 24, 2021: Markets: - Gold down $1 to $1803 - WTI crude oil up $2.03 to $67.68 - US 10-year yields up 3.8 bps to 1.295% There wasn't much in the news to highlight any new catalyst for the run higher in reopening and risk trades.
Trade ideas thread - Wednesday 25 August 2021 Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
Private oil survey data shows headline draw in crude oil inventory The inventory data from the private survey is out now, official data follows Wed. morning (US time). ZH tweet the numbers:
ICYMI - Japan extends states of emergency to another 8 prefectures, total of 21 now In response to widespread surging new COVID-19 cases Japan will expand its coronavirus state of emergency to another 8 prefectures. The 8, - Hokkaido, Miyagi, Gifu, Aichi, Mie, Shiga, Okayama and Hiroshima
S＆P and NASDAQ close at record highs Russell 2000 leads the way with a gain of 1% The final numbers are showing:
US infrastructure $3.5tln plan passes the House vote (but there's a but) USD3.5tln infrastructure budget plan has garnered the votes to pass in the US House. I'll leave it up to the politicos to nitpick the nuances of this, but the main takeaway is the Senate's bipartisan $1.2tln "hard' infrastructure package will be voted on by September 27, says House Speaker Pelosi.
EUR/USD Susceptible to Dovish ECB Guidance Ahead of Fed Symposium The account of the ECB meeting may undermine the recent rebound in EUR/USD as the Governing Council appears to be on a preset course.
Here is what’s on the economic calendar in Asia today - Wednesday 25 August 2021 2245 GMT New Zealand trade balance for July 0130GMT Australia Construction work done for Q2
Update: Two worrisome chart breakdowns look to have been invalidated Head and shoulders patterns don't always work out Beware of textbook chart patterns. Charts that are nearly 'perfect' have a habit of not working out. Last week I a potential head and shoudlers top in CAD/JPY, which had been one of the best trades in FX this year.
NASDAQ trades to new session highs Leading the way with a gain of 0.60% The NASDAQ index has now risen 4.23% from its Thursday low. Prior to that the index fell -3.17%. The S&P index is on pace for a record close as well, but it's gains are more subdued.
Best Buy Bolsters Inventories Ahead of the Holidays The retailer says stocks are strong despite supply-chain disruptions and product shortages.
Workers making Oreos and other Nabisco snacks are on strike in five states. A bakery union and the snack food giant’s corporate parent, Mondelez International, are at odds over shift lengths, retirement benefits and other issues.Oreo cookies are among the snack foods produced at plants where workers are on strike.
Welcome to the post-delta market. Why the re-opening trade is ripping higher The market gains confidence that delta has peaked Market sentiment has made a radical turn in the past few days in a reflection of some improvement in covid cases in the world's two largest economies.
Mexican Peso Gains Ahead of Jackson Hole. Will the Fed Rock the Boat for EMFX? The Mexican peso and other high-yielding EMFX will likely gain ground against the dollar if the Fed signals at the Jackson Hole Symposium it will wait longer before announcing a reduction in QE.
EURUSD finds a floor at 1.17416 The level was a high from last Wednesday.... The pair still has the 38.2% retracement at 1.17569 to get to and through. Earlier today, the price did move above that retracement level, but backed off.
Virgin Hyperloop unveils new pod concept video The high-speed evacuated-tube transportation company reveals its plans for passenger pods
WTI crude oil futures settle up for the 2nd consecutive day Settles at The high for the day reached $67.66. The low price was at $65.44. Just yesterday the price traded as low as $61.78. The gain has taken the price up over 9% from the low to high in 2 short days.