The USDCAD on the daily chart, moved up to test the low of the swing area near 1.38045. The move higher earlier this week was held by oil prices moving to the downside. Today, oil prices are higher by about $1 and we are seeing a rotation to the downside in the USDCAD...
Fed’s Bostic: We will remain restrictive until we’re sure about 2% inflation
If you take Fed officials at their word, the obvious trade is to wait for risk assets to sink in 2024 because the Fed will hold rates too high for too long. The market doesn't wait until it's 'sure' about anything.Of course, the Fed could be swayed and maybe Bostic...
Economist poll now sees the Bank of England cutting rates in Q3 2024
BoEReuters is out with a poll of UK economists and they now see a soon start to the BOE rate cutting cycle.The next BOE meeting is on Dec 14 and 68 of 69 economists see no change in the 5.25% with one seeing a 25 bps cut (there's always one).Where the poll gets...
Fed officials Bostic and Barkin: Policy is restrictive. Anecdotal evidence challenges GDP
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,...
Precious Metals Trading Made Clear: An Octa Guide
Precious metals have attracted traders and investors for centuries. From the bustling bazaars of ancient civilisations to the digital marketplaces of today, the trading of precious metals, such as gold, silver, platinum, and palladium, remains a lucrative and...
TD foresees a regime change for the US dollar
US dollar indexTD Securities projects a downturn for the USD in the near-term, emphasizing a relative calm in risk events. A series of economic indicators, including payroll numbers, ISM data, and other economic reports, signal a moderation in the US economy's growth,...
Stock market trading trends: NASDAQ and S&P on winning streaks, Dow snaps win streak
The major US stock indices are trading above and below unchanged in early US trading. Winning streaks are still in play for the NASDAQ and the S&P index. The NASDAQ index has been up for 9 consecutive days while the S&P index has been up for 8 consecutive...
NZDUSD holds support, buyers attempt to take control above moving averages
The NZDUSD has moved lower over the last 3 trading days in the process retested at the high of a swing area on the daily chart near 0.59028 (see chart below). Support buyers came against that level and have pushed the price higher in trading today from a technical...
US equity futures point moderately higher, Tesla gets a ‘sell’ rating
S&P 500 futures are up 0.3% ahead of the open while Nasdaq futures are up only fractionally. The Nasdaq is on a nine-day winning streak, which is the longest in two years.What won't help is a 1% decline in Tesla shares in the premarket. HSBC initiated coverage on...
Discover Swing Levels in EURUSD, USDJPY and GBPUSD for November 9 – Forex Trading Update
In this morning video on November 9, 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 is trading between a swing area...
ECB’s Centeno: We are at a plateau in terms of interest rates
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,...
US weekly initial jobless claims 217K vs 218K expected
initial jobless claimsPrior initial claims 217K (revised to 220K)Continuing claims 1.834m vs 1.820m expectedPrior continuing 1.818mIt's tough to get excited about this report because even if claims were 50K higher, they still wouldn't be some kind of recession red...
Forexlive European FX news wrap 9 Nov Futures muted, plenty of data and (ka)Powell to come
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,...
Initial jobless claims, Powell and a 30-year auction are on the agenda
Powell might be forced to push back on more-dovish pricing in markets and that will be the main point of interest today. He speaks at 12:30 pm ET and is preceded by Bostic (9:30 am ET) and Barkin (11 am ET), though we've already heard from them since the FOMC.On the...
ECB’s de Guindos: Any Discussion of Rate Cuts ‘Clearly Premature’
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,...
NZD Strongest and GBP Weakest as North American Session Begins
The strongest to the weakest of the major currenciesThe NZD is the strongest currency and the GBP is the weakest as the North American session begins. The USD is mixed/mostly higher with gains vs the EUR, GBP, JPY, CHF and AUD and declines vs the CAD and NZD. The...
11월 13일부터 처음 도입됩니다! 바뀌는 과속단속!
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Goldman Sachs Boosts China Growth Forecast to 4.8%, Citing Government Easing Measures
Goldman Sachs raises 2024 China growth forecast to 4.8%(Reuters) - Goldman Sachs has raised its forecast for China's economic growth next year as the bank's economists expect the Chinese government to "step up easing materially" in the coming months, the investment...
The @Newsquawk US Market Open: Equities boosted, DXY bid, US 10-yr >4.50%. Powell due
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,...
GBPUSD Technical Analysis – Key levels in focus
USThe Fed left interest rates unchanged as expected with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The recent US Core PCE came in line with...