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  • Squawk / 1 hour ago
    Head of Macro Strategy / Saxo Bank
    US consumer confidence drops, but house prices rise:

    We have had a mixed bag of US data today led by a large decline in the Conference Board's consumer confidence index to 95.2 in April from 101.4 a month ago. Consensus had looked for a slight improvement to 102.2 and today's reading of 95.2 is the weakest of the year.

    The Richmond Fed manufacturing index also came in (slightly) below expectations at -3 in April vs. -2 expected, though this was an improvement on March's -8 reading. New order remain weak at -6 (vs. -13 prior) but the number of employees rose to 7 from 6 and the average workweek was also positive at 4 (vs. -4).

    The Case-Shiller home price composite index rose 0.9% m/m in February vs. 0.7% expected and 0.9% prior implying an annual change in house prices of 5% (4.7% expected).

    The S&P 500 index is down a tad so far today (-0.1%). Tomorrow we have Q1 GDP (12:30 GMT) and FOMC (18:00) as the main events.
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  • Article / 1 hour ago

    FX Board: USD under pressure

    Head of FX Strategy / Saxo Bank
    FX Board: USD under pressure
    USD longs are rushing for the exits ahead of the FOMC meeting with AUDUSD and GBPUSD squeezing to impressive new highs for the cycle. It may take some time for the USD to recover from this latest damage unless the FOMC proves a shocker.
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  • Squawk / 1 hour ago
    Head of Commodity Strategy / Saxo Bank
    Crude oil higher on news that Iranian forces seizes US cargo ship with 24 people on board. Directs it to Iranian port. Arabiya TV
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  • Squawk / 2 hours ago
    WTI: watch the 56.10 level for a break-out of the rising channel. Could go back and test the top of the previous horizontal range at 54.30.
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  • 6h
    Clare MacCarthy Clare MacCarthy
    Terrific news chaps. Hearty congratulations to all three of you. It's an honour to have you writing for
    Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
    A great night Clive ...... think I have just recovered !!
    Angus Walker Angus Walker
    Well deserved - top team
  • Article / 7 hours ago

    From the Floor: Oil pressure builds

    Deputy Editor /
    From the Floor: Oil pressure builds
    As the crude oil long/short ratio rips up to very high levels, more and more indicators suggest that a sell-off is on the cards. In FX, the market is focused on tomorrow's FOMC meeting as well as US Q1 GDP, while in the equities sphere we've had a decent batch of surprisingly strong interim earnings.
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