Forexlive Americas FX news wrap 20 Nov: Fed's Bowman more hawkish. 20 year auction ugly.
The economic calendar was void of any economic releases today. However, there was two Fed Governors who spoke.
Wed, 20 Nov 2024 16:10:41 -0500
The Fed, ECB, and More Explained: Central Bank FAQs for Forex Traders
Learn how the Fed, ECB, and BOJ impact forex markets. Get answers to FAQs on interest rates, currency trends, and trading strategies in this must-read guide.
Wed, 20 Nov 2024 15:12:00 -0500
Australian Dollar pulls back from weekly high as USD rebounds
The AUD/USD declined by 0.64% to 0.6495 on Wednesday. The decline came after the pair touched a one-week high earlier in the session.
Wed, 20 Nov 2024 14:51:23 -0500
Crude oil futures settled at $68.87
Crude oil futures are settling at $68.87. That is down $0.52 or -0.75%.
Wed, 20 Nov 2024 14:37:38 -0500
US Dollar rebounds near yearly highs on quiet session
The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, has traded with solid gains, rising to 106.70. The DXY's upward trajectory is driven by factors such as recent strong economic data, rising yields, and a less dovish stance from the Federal Reserve (Fed).
Wed, 20 Nov 2024 14:04:57 -0500
Argentina Trade Balance (MoM) came in at $981M below forecasts ($1137M) in October
Argentina Trade Balance (MoM) came in at $981M below forecasts ($1137M) in October
Wed, 20 Nov 2024 14:00:52 -0500
U.K. Inflation Unexpectedly Rises to 2.3% in October
The U.K. Consumer Price Index (CPI) increased to 2.3% year-over-year in October, surpassing expectations of 2.2% and rising from 1.7% in September.
Wed, 20 Nov 2024 13:20:00 -0500
Mexican Peso weakens amid geopolitical tensions, dovish Banxico comments
The Mexican Peso erased some of Tuesday's gains versus the Greenback as geopolitical risks continued to drive the financial markets amid a possible escalation of the Russia-Ukraine conflict. Additionally, Bank of Mexico (Banxico) Governor Rodriguez's dovish remarks alongside the ongoing economic slowdown in Mexico hurt the prospects of the emerging market currency.
Wed, 20 Nov 2024 13:16:12 -0500
United States 20-Year Bond Auction climbed from previous 4.59% to 4.68%
United States 20-Year Bond Auction climbed from previous 4.59% to 4.68%
Wed, 20 Nov 2024 13:02:59 -0500
Natural Gas, WTI Oil, Brent Oil Forecasts – Cold Weather Lifts Gas, Oil Faces Pressure
Heating demand spikes as colder weather sweeps across the U.S., driving natural gas futures to a five-month high. Will bullish momentum continue?
Wed, 20 Nov 2024 13:00:27 -0500
Fed's Bowman: Progress on inflation appears to have stalled
Federal Reserve (Fed) Board of Governors member Michelle Bowman hit newswires on Wednesday, cautioning that it appears the Fed's progress on taming inflation may have hit a snag.
Wed, 20 Nov 2024 12:49:54 -0500
BoE's Ramsden: A very small miss on one month's inflation forecast doesn't change my assessment
Bank of England (BoE) Deputy Governor Dave Ramsden spoke late in the London market session on Wednesday, highlighting the BoE dove's stance on rate cuts versus the UK's current inflation outlook. The BoE policymaker shrugged off October's upswing in UK inflation as an outlier, convinced that UK inflation will continue to fall fast enough to allow the BoE to continue trimming interest rates.
Wed, 20 Nov 2024 11:51:59 -0500
European indices close lower
The major European indices are closing lower. The German DAX and Italy's FTSE MIB is on a four-day losing streak.
Wed, 20 Nov 2024 11:42:05 -0500
Fed's Cook: Could see a pause on rate moves if inflation progress slows
Federal Reserve (Fed) Board of Governors member Lisa Cook noted on Wednesday that while she views the overall economic outlook within the US as fairly balanced, the Fed might get forced into a pause on rate cuts if inflation progress slows down while employment remains solid.
Wed, 20 Nov 2024 11:38:18 -0500
Natural Gas Price Outlook – Natural Gas Continues to Test The $3 Level
The natural gas market continues to see a lot of buying pressures, as the market continues to see demand as picking up in the upcoming few months in the United States, specifically the Northeastern part of the country.
Wed, 20 Nov 2024 11:20:45 -0500
Crude Oil Price Forecast – Crude Oil Continues to Bounce Around
The crude oil market has been back and forth for some time, as the markets are trying to sort out where to go next. At this point, this is a market that is trying to form a bit of a bottom, as the market is now near the lower part
Wed, 20 Nov 2024 11:16:06 -0500
Russia Producer Price Index (MoM) declined to -0.6% in October from previous 0.5%
Russia Producer Price Index (MoM) declined to -0.6% in October from previous 0.5%
Wed, 20 Nov 2024 11:00:34 -0500
Russia Producer Price Index (YoY) dipped from previous 5.6% to 2.7% in October
Russia Producer Price Index (YoY) dipped from previous 5.6% to 2.7% in October
Wed, 20 Nov 2024 11:00:34 -0500
Weekly crude oil inventory data shows build of 0.545M vs 0.138M estimate
The weekly EIA inventory data shows: Crude oil inventories 0.545Mvs build 0.138M estimate. Prior week +2.089 million Gasoline inventories 2.054M vs build 0.859M estimate.
Wed, 20 Nov 2024 10:31:57 -0500
Weekly oil inventory data from the EIA is due soon. The private survey showed a huge build
Coming up at 1030 US Eastern time (1530 GMT) is the data from the U.S. Energy Information Administration (EIA). The EIA publishes the Weekly Petroleum Status Report (WPSR) every Wednesday, providing a comprehensive overview of the nation's petroleum supply and demand.
Wed, 20 Nov 2024 10:12:00 -0500