Forex & global markets news

Bitcoin falls with risk off sentiment. The price is testing a key swing area target.

Recall that Bitcoin moved higher with stocks on Wednesday, pushing back above $79,146 and into the old swing area that extends to $81,930. The move gave buyers a shot at taking back more control. To do that, they needed…

Barkin sees interest rate hikes ahead, but at a gradual pace

In a CNBC interview, the policymaker expressed concern over inflation and said monetary policy will need to adjust.

Nasdaq Composite breaks the July low in 5.5% rout

The rout is on in stock markets. The Nasdaq Composite broke the 200-day moving average at the open and it's been non-stop selling from there. The index has now cut through the July low and is trading at the worst levels…

The market is telling the hyperscalers it's happy about a slower data center buildout

Perhaps the clearest takeaway from Tuesday's US midterms is that data centers are unpopular. After a short-lived construction boom, they provide little ongoing employment and drive up local energy costs. There were 41…

US broader indices are getting hammered

This article was written by Greg Michalowski at investinglive.com.

Dollar flat as Wall Street rout lifts safe-haven yen; pound in focus as BOE hikes

Memory names getting smoked: Micron breaks the July low in 12% drop

Shares of Micron have taken an ugly turn today, dropping 12% and breaking support at the July low. Chip stocks are down heavily as the market re-thinks the pace of the AI build out. There are a few reasons for the change…

Dollar little changed as oil prices bounce, payrolls eyed

Crude oil tests the key confluence area and finds willing buyers

Crude oil futures fell sharply yesterday as traders weighed the chances of an end to the war with Iran. Senate Democratic Leader Chuck Schumer said Democrats would push to end the war and pointed to support from some…

Fed's Barkin: Gradual pace of hikes "makes sense"

Policy is somewhere around neutral The path on policy is straightforward, the issue is pace and gradual "makes sense" Do not anticipate inflation will accelerate but also don't see it as falling at this point The set of…

Marco Rubio ‘on resignation watch’ - report

The Independent reports that Marco Rubio "is on resignation watch from both sides of the Atlantic in the expectation he will quit to lauch a bid to be the next US President". The report cites "senior party sources in the…

Fed's Hammack: Gradual rate hikes are the best way to get inflation to target

Hammack voted for a hike at the last meeting so her view is that 'gradual' means every meeting. Other comments: Gradual rate hikes less disruptive Mon pol needs to move to a restrictive stance Gradual hikes are best way…

US Q3 productivity +3.6% vs +2.8% expected

Prior was +1.4% Unit labor costs -0.7% vs +0.6% expected Prior unit labor costs +1.2% On the face of it, these look strong disinflationary but these numbers are largely ignored by policymakers because they're notoriously…

US initial jobless claims 189K vs 196K estimate

Prior week initial claims 194K Prior week continuing claims 1.701M Details Initial jobless claims (October 31) fell 6,000 to 189,000. Prior revised to 195,000 from 194,000. Initial claims four-week average fell 2,250 to…

BoE Governor Bailey says there is a case for another 25bps hike if war doesn't end

Governor Bailey warned that another 25 bps rate increase could be justified if the conflict in Iran does not come to an end. Bailey stressed that the UK needs to limit the inflationary impact of the conflict,…

Stocks making the biggest moves premarket: Shake Shack, Wendy's, Peloton, Unity Software & more

These are the stocks posting the largest moves in early trading.

Morning Kickstart: BOE hikes to 4% as sterling struggles to hold its gains

In the morning video above, I take a look at the three major currency pairs—EURUSD, USDJPY and GBPUSD—from a technical perspective. For each pair, I outline the bias, the risk-defining levels and the targets that would…

What the Democratic midterms sweep changes for U.S.-China relations

Analysts note the growing risks around U.S. President Donald Trump's ability to maintain a fragile trade truce.

investingLive European news wrap: BoE raises bank rate to 4.00% as expected

Articles: What Could Stop the Fed Raising Rates in December? Bank of England raises the Bank Rate to 4.00% as expected in a 9-0 vote Nasdaq futures rebound nearly 280 points. But buyers now face a crucial test Solana…

Bank of England raises the Bank Rate to 4.00% as expected in a 9-0 vote

Bank Rate at 4.00% as widely expected Prior was 3.75% Vote split 9-0 vs 7-2 expected One member voted to increase Bank Rate by 0.5 percentage points, to 4.25% UK CPI inflation increased to 3.5% in September. It is now…

What Could Stop the Fed Raising Rates in December?

A December rate increase remains the market’s expected outcome. Investing.com’s rate monitor put the probability of a quarter-percentage-point increase at about 80% on 4 November. Another hold would depart from that…

U.S. Treasuries hover near 2-month lows on 20% weekly oil crash, midterm sweep

Sterling today: Pound flat as BoE hikes 25 bps, dollar steadies before payrolls

This FX trade is the best hedge for the AI drawdown: Goldman