Month: December 2024

TKL: While the nonfarm payroll report showed the US added +227,000 jobs in October, other metrics disagree. How do you explain this?

The Household survey showed significant weakness, with the number of employed people falling by -355,000 in November. Meanwhile, the US lost -111,000 full-time jobs and -268,000 part-time jobs. There are now 1.7 million people in long-term unemployment, up from 1.2 million last year. All while the US government added +33,000 jobs last month ALONE. Something doesn’t add up here. submitted by /u/XGramatik [link] [comments]

Mexican Peso tests resistance with all eyes on the US NFP

USD/MXN 4-Hour Chart The Mexican Peso is consolidating near recent highs with investors bracing for the US employment reading. Weak US macroeconomic data and some hawkish comments by Banxico’s deputy Governor have buoyed the MXN this week. Technically, USD/MXN’s double top at 20.80 suggests the possibility of a deeper correction. submitted by /u/Denchock [link] [comments]

EU Car Exports to China Decline, While Imports from China Surge Sharply

As of September 2024 (TTM), EU car exports to China totaled €12.8 billion, while imports from China surged to €16.2 billion. After a spike in the early 2010s, EU car exports to China had remained largely stable until 2024, with a 12% decline from Q1 2021 to Q3 2024. In contrast, imports of Chinese cars to the EU skyrocketed by 650% over the same period. The EU implemented significant tariffs on Chinese-made electric vehicles (EVs) in October 2024, with rates reaching up to 45.3%. The tariffs vary depending on the manufacturer: foreign vehicles such as Tesla face a 7.8% tariff, Chinese carmaker Geely is subject to an 18.8% tariff, and state-owned SAIC faces the highest tariff at 35.3%. https://preview.redd.it/qmuwnb21g85e1.png?width=900&format=png&auto=webp&s=f2627f07954c7c609c8e582fcffbe3e19ebc5619 submitted by /u/Pllover12 [link] [comments]

Downgrades – Dec 06, 2024

• ACDC: JPMorgan Downgrades to Underweight from Neutral – PT $7 • DE: Jefferies Downgrades to Hold from Buy • FTRE: Baird Downgrades to Neutral from Outperform – PT $25 (from $28) • FYBR: Benchmark Downgrades to Hold from Buy • KMT: Jefferies Downgrades to Hold from Buy • NAPA: Jefferies Downgrades to Hold from Buy – PT $11 • OGS: Ladenburg Thalmann Downgrades to Neutral from Buy – PT $75.50 • PCAR: Jefferies Downgrades to Hold from Buy • PLD: BMO Capital Downgrades to Underperform from Market Perform – PT $104 (from $120) • TD: Scotiabank Downgrades to Sector Perform from Sector Outperform Upgrades – Dec 06, 2024 • ACN: Goldman Sachs Upgrades to Buy from Neutral – PT $420 (from $370) • ASAN: KeyBanc Upgrades to Sector Weight from Underweight • BRX: BMO Capital Upgrades to Outperform from Market Perform – PT $33 • DG: BofA Securities Upgrades to Buy from Underperform – PT $95 • EPAM: Goldman Sachs Upgrades to Buy from Neutral – PT $295 (from $235) • FTI: Jefferies Upgrades to Buy from Hold – PT $40 (from $29) • KC: UBS Upgrades to Buy from Neutral – PT $12.50 (from $4.20) • PCH: BMO Capital Upgrades to Outperform from Market Perform – PT $51 • PJT: UBS Upgrades to Neutral from Sell – PT $175 (from $130) • PTON: UBS Upgrades to Neutral from Sell – PT $10 (from $2.50) • PUMP: JPMorgan Upgrades to Neutral from Underweight – PT $10 • RIG: JPMorgan Upgrades to Neutral from Underweight – PT $5 • RSG: BMO Capital Upgrades to Outperform from Market Perform – PT $238 • SHOP: Loop Capital Upgrades to Buy from Hold – PT $140 • SITE: Jefferies Upgrades to Buy from Hold – PT $175 (from $145) • TKR: Jefferies Upgrades to Buy from Hold • WSBC: Raymond James Upgrades to Strong Buy from Outperform – PT $44 (from $35) • WY: BMO Capital Upgrades to Outperform from Market Perform – PT $38 submitted by /u/XGramatik [link] [comments]

Crude Oil flirts with weekly loss as OPEC+ decision fails to provide support

Oil prices are on the back foot on Friday for a third consecutive day, flirting with a possible break lower. OPEC+ decision to delay output normalization by three months failed to convince markets. The US Dollar Index dips to a near one-week low ahead of the US Nonfarm Payrolls release. submitted by /u/Denchock [link] [comments]

📊🤔📈GBP/USD 🇻🇬formed a rising wedge pattern before the US NFP, and the price tests the upper trend line. CCI came out of overbought, although MA50 crossed up MA100 to form a golden cross.

📊🤔📈GBP/USD 🇻🇬formed a rising wedge pattern before the US NFP, and the price tests the upper trend line. CCI came out of overbought, although MA50 crossed up MA100 to form a golden cross. submitted by /u/Yuriy_UK [link] [comments]

High rates forced traders to abandon Russian Oil. Dozens of small traders and intermediaries have stopped supplying Russian oil to India.

The main reason is Russia’s record – high interest rates, which have driven the cost of financing deals to a critical level, Reuters reports, citing sources and customs and shipping data. India, one of the largest buyers of Russian oil, continues to import actively, benefiting from significant price advantages due to sanctions pressure on Moscow. However, Russia’s recent key rate hike to 21%, the highest in two decades, has forced many traders out of the market. The gap is being filled by major players like Litasco Middle East (a subsidiary of Lukoil) and Dubai – based firms Hinera Trading and Black Pearl Energy Trading. Despite high demand for Russian oil, reduced discounts have led Indian refiners like Reliance Industries and Nayara Energy to cut imports by 18% in November. submitted by /u/XGramatik [link] [comments]

Solana Price Forecast: Investors unstake $500M SOL as Bitcoin breaks $100K

Solana price settled above the $240 support level on Thursday, down 9% from its all-time high of $264 recorded last week. On-chain data shows Solana investors unstaked 2.2 million SOL over the last seven days, signaling an ongoing profit-taking trend. Despite Bitcoin flipping $100,000, Solana’s Bull Bear Power (BBP) indicator shows weakened buying momentum. submitted by /u/Denchock [link] [comments]

Gold price retreats as US yields rise, ahead of Nonfarm Payrolls

Gold price drops amid rising US Treasury yields diminish its appeal amidst uncertain Fed actions. Mixed US jobless claims data contribute to market volatility ahead of crucial Nonfarm Payrolls release. Fed Chair Powell’s optimistic economic assessment tempers expectations for imminent rate cuts. submitted by /u/Denchock [link] [comments]