Currencies
A steady recovery combined with little imminent threat of taper talk is negative for the dollar and positive for risk currencies. Next week will be a busy one for the euro with a European Central Bank monetary policy announcement, German ZEW, and industrial production report scheduled for release. With the Federal Reserve in their pre-FOMC quiet period next week, the dollar should remain under pressure against most of the major currencies. USD/MXN saw a big rise on Thursday as the ADP jobs figures beat expectations, jolting the US Dollar out of a tight three-week range.
Oil
In the past, Lopez Obrador has taken steps to strengthen Pemex’s failing financials through capital injections and tax cuts and moved to change oil and gas laws. There were also flaws with the company s Starliner spacecraft, setbacks with its much delayed 777X jet and a long run of glitches with its KC-46 military aerial tanker. image source Moreover, the price of labor and oil is inching up today. WTI, the US benchmark is up $1.07 to $69.26.
United States
less Today the US market decided to rise because President Biden is pondering not linking his infrastructure project to a corporate tax increase. Stock traders used the 5 basis point drop in 10-year yields as a rationale to move into large-cap technology shares, pushing the NASDAQ 100 Index (NDX) up over 1.5%. Equity futures rallied almost immediately after the release, which led me to make a snarky but accurate tweet about traders’ addiction to Fed liquidity.
Using all Nasdaq- and NYSE-listed companies as our universe, we looked at returns for each stock over a one-year period up to the start of each correction. less (Nasdaq: NVDA) shares are trading higher Friday along with the sector. That big number counted as a mild disappointment in comparison with the 671,000 economists polled by The Wall Street Journal expected. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
Although inflation is high, the Fed views this as temporary. aren’t the Fed mandates.
0 Using all Nasdaq- and NYSE-listed companies as our universe, we looked at returns for each stock over a one-year period up to the start of each correction. less (Nasdaq: NVDA) shares are trading higher Friday along with the sector. That big number counted as a mild disappointment in comparison with the 671,000 economists polled by The Wall Street Journal expected. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
Although inflation is high, the Fed views this as temporary. aren’t the Fed mandates.
