STIR: Implied Fed Hikes Pared Slightly With Fedspeak, PCE Data Awaited
May-27 19:09
Implied Fed rate hikes were slightly pared Wednesday, with the 14bp of increases through end-2026 re...
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US STOCKS: Late Equities Roundup: Communication Services, Financials Outperform
Apr-27 19:00
- US equity indexes held narrowly mixed levels Monday, despite simmering Middle East tensions and a rise in crude prices (June WTI contract $96.38/bbl).
- The DJIA dipped -1% in late trade while SPX eminis and Nasdaq indexes gained 1%.
- Communication Services and Financials sector shares led advances inb the second half: Satellite broadband communication provider EchoStar gained 2.36%, Alphabet +2.31% while Verizon climbed 2.3%.
- Banks & insurers buoyed the Financials sector with the following gaining 1.8-2.8% Monday: Ameriprise Financial, Charles Schwab Corp, Franklin Resources, Hartford Insurance Group and T Rowe Price Group.
- Consumer Staples led declines in the second half: Dollar Tree -6.35, Dollar General Corp -2.35% while Clorox declined -2.05%
- Expected to release earnings after the close: Nucor Corp, Ventas, Solaris Energy Infrastructure, Crane, Cadence Design Systems. Rambus and Amkor Technology Inc.
EURJPY TECHS: Bulls Remain In The Driver’s Seat
Apr-27 19:00
- RES 4: 188.81 2.236 proj of the Mar 16 - 27 - 30 price swing
- RES 3: 188.15 2.000 proj of the Mar 16 - 27 - 30 price swing
- RES 2: 188.00 Round number resistance
- RES 1: 187.95 High Apr 17 and the bull trigger
- PRICE: 186.90 @ 17:06 BST Apr 27
- SUP 1: 186.07 20-day EMA
- SUP 2: 184.87 50-day EMA
- SUP 3: 183.57 Low Apr 6
- SUP 4: 182.59 Low Mar 30
Bullish conditions in EURJPY remain intact and the cross is trading closer to its recent highs. Note too that the latest pause appears to be a flag formation - a bullish continuation pattern. Recent gains resulted in a breach of 186.87, the Jan 23 high and a key M/T hurdle. This confirmed a resumption of the uptrend. Sights are on 188.15, a Fibonacci projection. Initial firm support is 185.99, the 20-day EMA. Sights are on 188.15, a Fibonacci projection.
BOC: Citi Stands Alone Seeing BOC's Next Move As A Cut (2/2)
Apr-27 18:56
Outside of Canada, analysts broadly expect a BOC hold through 2026 with hikes more of a 2027 prospect.
- Aside from Citi's notable expectation of expecting the next move to be "lower rather than higher", JPMorgan explicitly sees rates held though 2027, while Wells Fargo anticipates a 25bp hike in July followed by a prolonged hold. See table for more details.
