Today, at 7:06 am EST, the EUR/USD was trading at 1.1094. This reflected a price decrease from the 1.1143 price from yesterday. My take on the euro is that there appears to be less demand for it, not only based on its price but on a consumer expectations survey from the European Central Bank last … Continue reading Israel v Iran: The foreign exchange market is telling me to cool it.
Miami, FL – SEPT 30, 2024 – Top Tier Trader, a leading name in the proprietary trading industry, is excited to announce that Jamal Hollingsworth, the company’s visionary founder, is returning to the role of CEO after a brief tenure as President. Hollingsworth’s return comes at a pivotal moment for the firm, solidifying TopTier Trader’s … Continue reading Jamal Hollingsworth Returns as CEO of Top Tier Trader, Poised to Lead the Company into an Exciting New Era
I don’t expect the EUR/USD to exceed 1.1168 by 3:00 pm Friday, 4 October 2024. My initial assessment is based on the German bund 10-year yield of 2.135% and a U.S. 10-year bond yield of 3.756%, per MarketWatch. Per X-rates.com, the current EUR/USD is 1.1166 as of 9:59 pm EST. (Interested in proprietary trading? Determine … Continue reading I don’t expect the EUR/USD to exceed 1.1168 by weekend. That could change, of course.
The Federal Reserve Bank of New York’s July 2024 survey of primary dealers determined that a number of America’s largest banks expected the chances of a 50-basis point cut in the fed funds target rate to be around five percent. Today, according to the CME FedWatch tool, the chances of a 50-basis point decrease is … Continue reading So why is the market betting on a 50-basis point cut?
Between 9:02 am and 11:26 am, the CME FedWatch tool reflected an increase in the chances that the Federal Open Market Committee would increase the federal funds target range by 50-basis points. Traders expect a 61% chance of a 50-point increase. Chances of a 25-point increase has slipped to 39% at the time of this … Continue reading Three U.S. senators recommend a 75-basis point cut in the fed funds rate.
The CME FedWatch tool is reporting a 59% chance that the Federal Open Market Committee will reduce the federal funds target range to 4.75%-5.00% from the current 5.25%-5.50% range. Business media has been reporting sentiment leaning toward a 25-basis point cut versus the sentiment reported in CME data. For traders, this should signal a bump … Continue reading The chances of a 50-basis point hike in fed funds rate higher than reported.
What I did not hear last night: who will be your pick for chairman of the Council of Economic Advisors? Who will be the director of the National Economic Council? Who would you select as chairman of the Board of Governors-Federal Reserve System? Who will you choose as Treasury secretary? (People are looking for ways … Continue reading What was missing from last night’s debate? An idea as to who will lead a Trump or Harris economy.
During last night’s debate, I expected no substance on the economy. I got none. When ABC’s David Muir asked Vice President Kamala Harris whether Americans are better off today than they were four years ago, she avoided the question, opting instead to share just a little word salad on social policy issues that she has … Continue reading Getting touchy-feely on last night’s debate
Tonight’s debate between Vice President Kamala Harris and former president Donald Trump will likely leave traders with more questions than answers about how each candidate will use Executive power under the Constitution to drive expansion in the economy. The top concern of most Americans is how each candidate proposes to put a car in every … Continue reading Other than munching on some popcorn, tonight’s debate shouldn’t bring much benefit to traders.
Lawyers Write the Bets. Bankers Sell the Bets. 