Trading news

Federal Reserve Bank of Chicago President Austan Goolsbee spoke at the Chartered Financial Analyst Society of Indianapolis Annual Lunch on Thursday. He said that inflation seems to have stalled and that, for inflation, we've set a 2% target; 3% inflation is too high.

The Dow Jones started Thursday off on a high note. The major equity index soared 725 points in the early hours before promptly reversing course at 1545 GMT (1045 EST) and sinking over 1,100 points top-to-bottom, hitting a five-week low of 45,732 in the process.

The US Dollar (USD) kept its upside impulse well in place for yet another day on Thursday, this time climbing to the area of six-month highs backed by declining bets for another interest rate cut by the Federal Reserve (Fed) at its December meeting.

The New Zealand Dollar (NZD) pares early gains against the US Dollar (USD) on Thursday, as near-certain expectations of another interest rate cut by the Reserve Bank of New Zealand (RBNZ) keep the Kiwi under sustained pressure.

Gold (XAU/USD) retreats on Thursday during the North American session following the release of the September US jobs report, which fared better than expected, crushing forecasts. At the time of writing, XAU/USD trades at $4,061, down 0.38%.

AUD/USD trades lower around 0.6440 at the time of writing on Thursday, as the Australian Dollar (AUD) adopts a cautious tone ahead of the flash S&P Global Purchasing Managers’ Index (PMI) data for November due later in the day.

United States 4-Week Bill Auction: 3.89% vs previous 3.9%

The Canadian Dollar (CAD) is under pressure against the US Dollar (USD) on Thursday, with the Greenback holding firm as markets scale back expectations of a December interest rate cut by the Federal Reserve (Fed).

Federal Reserve (Fed) governor Lisa Cook said in remarks prepared for delivery at an event hosted by Georgetown University's business school on Thursday. She said that the US financial system is resilient and that she sees an increased likelihood of outsized asset price declines.

United States Kansas Fed Manufacturing Activity: 18 (November) vs 15

United States EIA Natural Gas Storage Change came in at -14B, below expectations (-12B) in November 14

USD/JPY trades around 157.65 on Thursday at the time of writing, up 0.45% on the day after touching a fresh eleven-month high at 157.88.

The Pound Sterling advances during the North American session following the release of a stellar Nonfarm Payrolls (NFP) report for September, which revealed the economy added more people to the workforce than expected. the GBP/USD trades at 1.3117 after reaching a daily low of 1.3037.

West Texas Intermediate (WTI) Crude steadies on Thursday after falling more than 2% on the previous day, as market sentiment turns cautious ahead of the US sanction deadline on two major Russian oil firms. At the time of writing, WTI is trading around $59.70, up nearly 0.70% on the day.

Federal Reserve (Fed) Bank of Cleveland President Beth Hammack spoke at the Federal Reserve Bank of Cleveland Financial Stability Conference on Thursday. She said that easing monetary policy now may encourage financial risk-taking.

Eurozone Consumer Confidence registered at -14.2, below expectations (-14) in November

United States Existing Home Sales (MoM) came in at 4.1M, above expectations (4.08M) in October

United States Existing Home Sales Change (MoM) dipped from previous 1.5% to 1.2% in October

The Euro (EUR) reverses earlier losses against the US Dollar (USD) on Thursday, as the Greenback loses momentum after traders reacted to a mixed batch of delayed September US labour-market data. At the time of writing, EUR/USD is trading around 1.1541, recovering from an intraday low near 1.1502.

Gold’s recent strength has been powered largely by hedge funds and retail investors, whose inflows have far exceeded official-sector demand.