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The sight of the 272K new nonfarm job additions and the fastening wages growth above 4% on a yearly basis smashed the dovish Federal Reserve (Fed) expectations on Friday, and sent the US yields and the dollar higher. We are back to the starting point where the Fed could hardly justify a rate cut when jobs data remains strong and inflation is not easing as fast as it should. Happily, suspense about what the Fed thinks about this won’t last long; the Fed will start its two-day policy meeting tomorrow and announce its latest decision on Wednesday, just after the...

As widely expected, the European Central Bank (ECB) announced a 25bp rate cut when it met yesterday, but raised its inflation target for this and the next year, warned that the road for easing inflation could be bumpy, and ruled out a July rate cut. Still, two G7 central banks announced a 25bp rate cut this week, and marked the beginning of the easing cycle for major central banks and proved to be supportive of reflation flows: oil and metals rebounded. The S&P500 hit a fresh record.
Today, all eyes turn toward the US jobs data. The week was marked...

A technical glitch caused some NYSE stocks to plummet, could crypto avoid these mistakes?

00:00 Intro
00:29 Preview
00:53 Bitcoin
05:10 Ethereum
07:17 Chainlink
09:55 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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The data from the US yesterday was mixed: a softer-than-expected ADP read and a stronger-than-expected ISM services data marked the session. The bond traders focused on the weak ADP report rather than on the strong ISM read, and sent the US 2-year yield down to 4.72%. The fact that the Bank of Canada (BoC) announced the widely expected 25bp and left the door open for more rate cuts – if inflation progress toward the right direction – and the expectation that the European Central (ECB) will be the second G7 central bank to announce the first rate cut also helped...

Shocker! The exit polls were completely wrong in predicting the outcome of the Indian election. Not only that Narendra Modi’s BJP couldn’t secure a landslide victory in the latest elections – as it was suggested by Monday’s polls, but it couldn’t even win enough seats to secure a majority in the parliament. The Nifty 50 fell nearly 6% from a record and remains under pressure this morning while the Indian rupee depreciated as fast as it had jumped on Monday.
In the US, the JOLTS data from the US showed that job openings in the US fell to around 8...

GameStop rallied nearly 90% after Keith Gill, aka Roaring Kitty on Twitter, posted a screenshot on Reddit showing a big stake in option. Other meme stocks saw positive vibes as well.
Elsewhere, US yields fell after the latest ISM manufacturing data showed an unexpected acceleration in contraction in May as prices eased. The US dollar index sank below its 100 and 200-DMA. The softer dollar sent the EURUSD above the 1.09 resistance, Cable rallied past the 1.28 as the USDJPY eased.
All eyes are on US jobs data this week. Soft data should further fuel the dovish Fed expectations.
Lower...

OPEC+ announced on Sunday that it will extend supply cuts to the Q3 but will gradually return barrels to the market over the following 12 months. The barrel of US crude fell to $76.50 at the weekly open before rebounding toward the $77pb on the back of a stronger-than-expected Chinese manufacturing PMI, with the Caixin index pointing at the strongest expansion in nearly 2 years.
In India, the Nifty 50 jumped to a fresh record, and the rupee rallied as exit polls for the Indian election hinted at a clear-cut victory for PM Modi’s party.
The combination of Friday’s soft...

After the ETF is before the ETF, the Ethereum ETF is finally here but not live yet for trading. What's next? We'll discuss the price implications of the second spot ETF crypto product.

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Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr
_____
Discover our brand and philosophy: https://swq.ch/wq
Learn more about our employees: https://swq.ch/d5
_____
Let's stay connected:
LinkedIn: https://swq.ch/cH

Market mood further darkened yesterday following another round of weak Treasury sales in the US. Treasuries and equities sold off, the US dollar gained across the board. Things could get better or worse in the coming hours. All eyes are on the US GDP update, due today, and the Fed’s favourite gauge of inflation – the core PCE number – due tomorrow.
Elsewhere, released yesterday, the Australian inflation unexpectedly rose in April and the German inflation came in worse than expected. Spain and Italy will release their inflation updates today, France tomorrow and we will have the aggregate CPI for...

The first day back after the long weekend brought traders back down to earth. A weak sale of US 2 and 5-year notes, and Federal Reserve’s (Fed) Neel Kashkari’s comments that the Fed cannot rule out hiking the interest rates as a next move sent the US treasuries lower yesterday. Stocks stagnated, except Nvidia - which jumped 7% on news that Elon Musk’s xAI would use its H100 chips!
In the FX, the broad-based recovery of the US dollar sent the EURUSD lower yesterday before it reached the 1.09 resistance. Inflation expectations in the Eurozone fell to the lowest levels...