Financial media outlets are now reporting prices will rise .... So, yeah, just note this has been around for a few weeks now. Prices have been rising anyway given shortages (lower supply).- All we need for a Fed rate hike (taper first of course) is for inflation to be no longer transitory. Since the Fed seems intent that is transitory a hike is not imminent.
- China's National Food and Strategic Reserves Administration will release 7.38 million barrels of crude oil from its state reserves in the first set of auctions it plans to conduct Sept. 24
Since the pandemic started and the government imposed lockdowns, most people living in London, United Kingdom, are now returning to their working desks at offices. According to Bloomberg, citing data from Google, over a half of London’s financial district employees are back to their offices.
However, such returning has been gradual as some workers are going just a few days per week to the companies’ offices. Also, the report noted that the beginning of the school season bolstered the staff’s return. It includes the workforce from bars, restaurants, and coffee shops, which were the most affected by the British government’s lockdowns imposed in an initial stage.
The fact that over a half of the employees are back at the financial district is significant, considering that they were sent home in March when the COVID-19 outbreak started in most countries. In fact, most of the 540,000 workers in the Square Mile were required to go home.
- Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
- prior -4.4%The weekly consumer confidence readings have been on the sad side. WPAC note that the negatives likely to weigh on the result this month include: COVID infections rising and the associated lockdown extensions in Australia's two largest population states of New South Wales and Victoria, and hospital systems coming under significant strain in parts of Sydney. And, on the other hand, cases remain negligible across other states & the rollout of the vaccination program has accelerated, with supplies of Pfizer available.
- The S&P and Dow have been down for five the last six trading daysThe NASDAQ index has fallen five straight daysAll 11 sectors of the S&P index are lower today US yields are sharply lower leading to the decline in the financials. The tenure yield is down -4.5 basis points. The 30 year yield is down -5.1 basis point.
- The story in markets today was simple enough in the early going. US CPI was lower than expected and the dollar fell. Core CPI rose just 0.1% compared to 0.3% expected. The dollar fell around 30 pips initially across the board and later extended that to 50 pips.
- RT @MikeZaccardi: Indications are this will be a #fishstorm https://t.co/GgP6XyeRWt
ForexLive Tue 14 Sep 2021 20:04 - The NASDAQ index is trading just off it's lows, but it is still down -86 points or -0.57% 15019.19. The down day will be the fifth straight for the index. Since the last cycle high on September 7 at 15403.44, the price has declined -395 points or -2.57%.
- Yet the dollar is broadly higher, aside from JPY and CHF. My favorite axiom is that 'if something can't fall on bad news' it can't fall at all. Everything aligned for a weak day for USD today and the opposite is happening.
- The price of WTI crude oil is settling the day nearly unchanged on the day. The price settled at $70.46, up $0.01 or +0.01%. The high price reached $71.22. The low extended to $69.98.
- RT @SirajAHashmi: Norm MacDonald said this at the fuckin ESPYs lmaooo. an absolute legend. rest in peace Norm https://t.co/d3zEX35cla ForexLive Tue 14 Sep 2021 19:04
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- The USD is making new dollar highs vs the AUD, NZD and GBP. It is just off the high vs the CAD. The greenback is still lower vs the JPY and CHF as those currencies are being supported by flow of funds into the relative safety of those currencies. The Dow is down -300 points. The Nasdaq is down about 70 points or -0.46%
- The mood continues to sour in markets and it's pulling down the Australian dollar and US equities. The S&P 500 is down 29 points to 4440 after opening 10 points higher.
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- Shell halted production its Perdido offshore oil platform and liquefied natural gas producer Freeport LNG said processing at its Texas coast facility was halted. Power outages also caused issues for the Colonial Pipeline.
- If there is a rebound off the low or cluster of moving averages, getting above the 200 bar MA and the falling 100 bar moving average on the five minute chart at 1.38567 and 1.38617 respectively, is the minimum to give buyers comfort. Absent that, and the sellers remain in control.
- The country's second-largest property developer, Evergrande, appears to be on the brink of failure and economic data in the country has stumbled for months. At the same time, officials don't seem to care and are busy talking about 'common prosperity' and cracking down on tech companies.
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