Forexlive Americas FX news wrap: PCE data matches estimates

<ul><li><a href="https://www.forexlive.com/news/us-december-pce-core-inflation-44-vs-44-expected-20230127/">US December PCE core inflation +4.4% vs +4.4% expected</a></li><li><a href="https://www.forexlive.com/news/umich-final-january-consumer-sentiment-649-vs-646-expected-20230127/">UMich final January consumer...

9h

US equities post another solid day, led by tech stocks

<p>Closing changes in North American equities:</p><ul><li>S&P 500 +0.5%</li><li>Nasdaq +1.3%</li><li>Russell 2000 +0.8%</li><li>Toronto TSX Comp +0.1%</li></ul><p>On the week:</p><ul><li>S&P 500 +2.7%</li><li>Nasdaq +4.6%</li><li>Russell...

10h

Elon Musk faces SEC probe for role in Tesla self-driving claims

<p>There is going to be some kind of reckoning around claims about 'self-driving' and robotaxis. Elon is currently in a lawsuit that's in court right now about his 'funding secured' tweets and he's a guy who has pushed the limits of truth.</p><p>Consumer Reports this week ranked Tesla's driver assistance features as 7th among car makers...

10h

US equities continue the steady grind higher into the weekend

<p>The lesson of the year so far is that markets will do what people least expect. The strong consensus coming into the year was that rate and recession fears would keep stocks cheap before an H2 rally. Well, the market didn't wait and now the S&P 500 is poised to close above some key levels, including the long-term downtrend.</p> ...

11h

The beginning of the end to the EUR rally?

<p>Danske Research discusses EUR/USD outlook and maintains a structural bearish bias over the coming months.</p><p>"We note that in tandem with EUR/USD loosing steam Eurozone equities are beginning to underperform US peers - and also more generally that value is beginning to underperform growth. In our view, this is an important...

11h

VIX falls to the lowest since last January

<p>The meme stocks are running again today despite a choppy market, including shares of Lucid Motors now up 56%.</p><p>Money is piling into beaten-up tech stocks at an incredible pace as the market bets on inflation coming back down to target. With that, the VIX is down 3% today to the lowest since last January.</p> ...

12h

Dallas Fed trimmed mean PCE price index +2.3% annualized in December vs +3.0% prior

<ul><li>One-month trimmed mean annualized +2.3% vs +3.0% prior</li><li>12-month PCE trimmed mean +4.4% vs +5.0% prior</li></ul><p>These one-month numbers have come down from 6.0% in August to near the Fed's target. It will take more numbers like this with the help of lapping soft comps to get the Fed where it...

12h

European equity close: Another week of gains but the momentum slows

<p>On the day:</p><ul><li>Stoxx 600 +0.2%</li><li>German Dax flat</li><li>France's CAC -0.1%</li><li>UK's FTSE 100 flat</li><li>Spain's Ibex +0.2%</li><li>Italy's FTSE MIB +0.8%</li></ul><p>On the week:</p><ul><li>Stoxx 600 +0.6%</li><li>German...

14h

Oil bulls continue to run into sellers ahead of $83

<p>Every time oil hits $83 and fades, the importance of that level grows.</p><p>The WTI <a href="https://www.forexlive.com/terms/c/crude-oil/" class="terms__secondary-term" id="e1f1b115-23d2-48c8-98c8-24024dada457" target="_blank">crude oil</a> market has been knocking on the door of that level all week long but was once...

14h

Canadian federal government budget deficit shrinks dramatically

<p>The Canadian government is out with its latest budget numbers and they're stark, thanks to much lower spending and a boost from resource revenues. The April-November budget deficit is C$3.55 billion compared to C$73.7 billion a year ago.</p><p>To be clear, a decade ago a year-long deficit of $10 billion was seen as a large number...

14h