It is a mixed Monday for the major stock indices ahead of the important US CPI data tomorrow at 8:30 AM. The headline CPI number is expected to rise by 0.1% with the core expected to rise by 0.3%. The YoY is expected to fall to 3.3% from 3.7% (YoY effects) while the...
Asian Economic Calendar: Key Events and Consensus Expectations for 14 November 2023
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Trade ideas thread – Tuesday, 14 November 2023
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
AUDUSD corrects higher to 100 hour MA and finds sellers. Snaps 5 day slide though.
The AUDUSD corrected higher today and in the process snapped a 5-day down streak for the pair (higher USD in the process). The correction higher, however, it did find willing sellers against its falling 100-hour moving average of 0.63914. Ultimately if the buyers are...
Crude oil settles at $78.26
The WTI crude oil futures are settling at $78.26. That's up $1.09 or 1.41%. The low price reached $76.26. The high price was at $78.49. Technically the price moved back above its 200 day moving average at $78.45 intraday after trading below it for the 1st time since...
US federal budget deficit for October $-67 billion versus $65 billion expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Major US indices erase declines
The NASDAQ index is the last of the major indices to tick into positive territory. The index moved to a high of 13805.11. That took the index up 7.0 points on the day.The S&P index has traded as high as 6.53 points on the day, while the Dow Industrial Average has...
NZDUSD finds support at key levels, awaits next move
The NZDUSD moved to a new session low, and in the process moved down to test the high of a swing area near 0.58699. It also tested the 100 bar moving average on the 4-hour chart at 0.5871. Support buyers came in against the dual technical levels and pushed the price...
US Inflation Preview: How Will Gold Price, EUR/USD, Nasdaq 100 React to CPI Data?
GOLD, EUR/USD, NASDAQ 100 FORECASTGold prices, EUR/USD and the Nasdaq 100 will be highly sensitive to the upcoming U.S. inflation reportThe U.S. Bureau of Labor Statistics will release October consumer price index data on TuesdayHeadline CPI is seen rising 0.1% m-o-m...
EURUSD extends to new session highs
EURUSD extends above the 100 hour MA and swing areaThe trading volatility in the EURUSD has been up and down today. After moving higher in the Asian session and getting above the high of a swing area up to 1.0694, the price rotated lower falling below both its 100 and...
USDCAD sellers dominating as price breaks below key moving average
The sellers in the USDCAD are taking more control as London/European traders look to exit for the day. The selling has now taken the USDCAD pair to a new low, and in the process has broken back below its 100-hour moving average currently at 1.3792. Staying below the...
Higher close for the major European indices to start the new trading week
The major European indices are closing the session higher to start the new trading week.German DAX, +0.73%France, +0.60%UK's FTSE 100, +0.89%Spain's Ibex +0.96%Italy's FTSE MIB +1.38%As European traders look to exit for the trading day, the AUD is the strongest of the...
BOE Mann: Research points to higher inflation from climate shocks, policies and spillovers
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
NY Fed economic expectations: Inflation expectations dip modestly
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bank of Italy: Economic indicators suggest activity remains weak in Q4
The Bank of Italy is on the wires saying:Economic indicators just that activity remains weak in the 4th quarterThey continue to see estimates of 0.7% growth for this yearThe EURUSD has rebounded back toward its closing level from Friday after dipping to the 38.2%...
Philadelphia Fed: Forecasters upgrade growth, job gains and inflation in 2023 and 2024
According to a survey by the Federal Reserve Bank of Philadelphia, the U.S. economic outlook has improved slightly compared to three months ago:Forecasters predict a 1.3 percent annual growth rate for this quarter, up from the previous estimate of 1.2 percent.For...
USDJPY tumbles back toward rising 100 hour MA
USDJPY got within 3-4 pips of the 32 year highThe USDJPY fell quickly from a high of 151.90 down to a low of 151.20. There was nothing newsworthy to prompt the fall, but traders will chatter about fears of Bank of Japan intervention.The low price did find support...
USDCHF bounces off 100 hour MA for the 3rd day in a row. Buyers hold that line.
For the third day in a row, the 100 hour MA stalled the fall. That is a key pattern that will be eyed going forward and also for now, gives the buyers the control Stay above is more bullish. Closer intraday support today, will also eye the broken 38.2% retracement of...
US equities give a bit back after Friday’s big rally
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Kickstart your FX trading with a technical look at the EURUSD, USDJPY and GBPUSD
In this morning video on November 13, 2023, I kickstart the Forex trading day with a technical look at the EURUSD, USDJPY and GBPUSD. What are the biases, the risks, the targets for those three major currency pairs? EURUSD: The EURUSD moved higher in the Asian and...