News

AUD/USD weakens on Monday, trading around 0.6530 at the time of writing, down 0.25% on the day.

Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said on Monday that he would feel uneasy frontloading rate cuts, per Reuters.

Be honest with your kids about what you’re going through, says behavioral wealth manager Wendell Clarke.

U.S. manufacturing activity weakened further in October, with ISM Manufacturing PMI falling to 48.7 from 49.1, missing expectations of 49.4. The index signaled contraction for the eighth straight month as demand and output remained under pressure. New orders improved slightly from 48.9 to 49.4 but stayed below the 50 threshold. Production dropped sharply from 51.0 […]

The post US ISM manufacturing falls to 48.7, output and prices cool appeared first on Action Forex.

• I am uneasy with frontloading rate cuts
• Rates should come down with inflation
• Inflation data is still worrisome
• I’m not decided for what happens at next Fed meeting
• Threshold for cutting higher than at last two Fed meetings
• Has been more worried about inflation over jobs market
• There are still concerns about the jobs market
• Some key job market metrics have been pretty stable
• It is important to be careful when the economy is in a time of transition
• Cites problematic services inflation
• Wants to see some evidence of inflation falling
• It’s best to have rates fall along with inflation

Goolsbee is a voter this year but it sounds to me like he’s leaning towards a pause in December. Current pricing in a 68% chance of a cut.

This article was written by Adam Button at investinglive.com.

• I am uneasy with frontloading rate cuts
• Rates should come down with inflation
• Inflation data is still worrisome
• I’m not decided for what happens at next Fed meeting
• Threshold for cutting higher than at last two Fed meetings
• Has been more worried about inflation over jobs market
• There are still concerns about the jobs market
• Some key job market metrics have been pretty stable
• It is important to be careful when the economy is in a time of transition
• Cites problematic services inflation
• Wants to see some evidence of inflation falling
• It’s best to have rates fall along with inflation

Goolsbee is a voter this year but it sounds to me like he’s leaning towards a pause in December. Current pricing in a 68% chance of a cut.

This article was written by Adam Button at investinglive.com.

The economic activity in the United States’ (US) manufacturing sector continued to contract in October, with the Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) dropping to 48.7 from 49.1 in September.

The USDCAD is up 0.40% and pushing into a key swing area between 1.4060 and 1.4067—a zone defined by multiple swing highs and lows from October 14 to October 21. A sustained move above this region would expose the October high at 1.4079 as the next upside target. Beyond that, buyers would likely set their sights on the 50% midpoint of the 2025 trading range at 1.4166.

Last week, the pair found resistance near the 38.2% retracement of the 2025 range at 1.4018. On Friday, the high extended slightly above that level to 1.4035, before closing just under it at 1.4009. Now that the price is trading above that zone, it serves as a risk-defining level for buyers — a move back below 1.4018 would disappoint the bullish camp and suggest the upside momentum is faltering.

The US ISM data just came in weaker than expectations of no has helped to push the price a little bit lower. The current price trading 1.40587 which is just below the swing area target. The high price reached just above the high of a swing area at 1.4068.

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

United States ISM Manufacturing PMI below forecasts (49.5) in October: Actual (48.7)

• Prior was 49.1
• Prices paid 58.0 vs 61.5 expected (prior 61.9)
• Employment 46.0 vs 45.3 prior
• New orders 49.4 vs 48.9 prior
• Imports vs 44.7 prior
• Production vs 51.0 prior

US stock markets opened higher but the S&P 500 fell to flat shortly before this report. There was also some pre-report selling in USD/JPY.

This article was written by Adam Button at investinglive.com.