The USDJPY sellers are making a play today with the break below the 150.00 level. Not only was the level a key natural level, but also corresponded with the 100-hour moving average. That's key.The prices also fall below its 200-hour moving average 149.898. That's key...
Reports of explosions in and out of Gaza
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,...
BOJ likely to raise CPI forecast to 2% range – report
BoJ Governor UedaNikkei is out with a Bank of Japan scoop ahead of Tuesday's meeting and decision.The Bank of Japan is likely to raise its consumer price index outlook for fiscal 2024 (starting in March) to the 2% growth range at next week's meetingThe current...
NZDUSD failed on a break below a key trend line this wk. Does it open a door for buyers?
NZDUSD sellers failed on a break below a key trend line on the daily chart this week. Does that failed break open a door for buyers going forward? Not so fast!Buyers have some control on the failed break, but they need to do more.In this video, I take a look at the...
Nasdaq 100 Finds Spark Thanks to Amazon Ahead of Fed. Dead Cat Bounce or Not?
NASDAQ 100 FORECAST:The Nasdaq 100 rebounds off technical support heading into the weekend following a selloff in the previous trading sessionsAmazon leads the charge higher thanks to solid corporate earningsDespite the positive mood on Wall Street, market risks...
Israel refused to respond to a long truce requested by Hamas – report
It looks like the remainder of the day will be trading around vague headlines about a ceasefire of an indeterminate length and prisoner swap rumors/reports.The latest from Al Arabiya is that Israel wouldn't discuss a long ceasefire. This is not something you want to...
The USDCAD moved to a real good target level. It’s so important you want to know about it.
The USDCAD has moved up to test a real good target level. It is so important you probably want to know about it whether you are a buyers or a seller. Move above it and it opens the door for further upside potential. Stay below it and sellers may start to take some...
The Russell 2000 is on the verge of a breakdown
Russell 2000 dailyThe Russell 2000 is poised for the lowest weekly close since November 2020. It's fallen in four straight weeks and seven of the past eight.It's trading at 1646, which is just 0.3% above the 1641 intraday low in June 2022. The index is down 0.6%...
There has been a ‘breakthrough’ on Hamas hostage negotiations — CNN
CNN reports that there has been 'significant progress' in Qatar-led negotiations on hostages held by Hamas. The negotiators say there are still issues that remain.There are some details here.CNN's Becky Anderson reports:"The group was proposing that all foreign...
October final UMich US consumer sentiment 63.8 vs 63.0 expected
University of Michigan Consumer SentimentPrelim was 63.0Prior was 68.1Details:Current conditions 70.6 vs 66.7 prelim (71.4 prior)Expectations 59.3 vs 60.7 prelim (66.0 prior)1-year inflation 4.2% vs 3.8% prelim (3.2% prior)5-10 year inflation 3.0% vs 3.0% prelim (2.8%...
Sam Bankman-Fried takes the stand
Sam Bankman-Fried is testifying today. We got a preview of what he will say yesterday in a hearing with the judge but the jury excluded. His lawyers are working on an 'advice of council' defense where he claims that everything he did that was wrong was based on the...
US dollar fades broadly
The US dollar is at the best levels of the day as the market digests strong US consumption data and rising core inflation.USD/JPY has fallen 75 pips to 149.64.USDJPY 10 minsAdding to the weakness in the US dollar is a report from Al Jazeera that Israel-Hamas ceasefire...
Major US stock indices mixed. Can the buyers keep the momentum going?
Amazon and Intel beat expectations when they announced earnings after the close yesterday, and those shares are higher, but we've seen that story before this week where better earnings don't lead to higher stock prices. It's Friday I though and the market has been...
It’s time to get on my soapbox, educate and tell the technical story of the USDCHF
The USDCHF this week progressed through a series of steps technically, that played like a symphonic orchestra. In this video, I get on my soapbox, look at the progressions of the price action this week, explain the "whys" and set the stage for the next move. If you...
Kickstart your FX trading for October 27 with technical look at EURUSD, USDJPY and GBPUSD
In this morning video on October 27, 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 tried to extend above resistance...
There is talk of a ceasefire between Hamas and Israel
Al Jazeera reports that: "Negotiations are progressing rapidly to achieve a ceasefire agreement and an exchange deal between Hamas and Israel, mediated by Qatar"There are some kneejerk moves in markets on this but it's hard to believe that we could really see a...
USD Breaking News: Dollar Index Slides as PCE Data Declines in Line with Estimates
US Core PCE Key Points:MOST READ: Oil Price Forecast: WTI Rangebound as Demand Concerns Resurface. $80 a Barrel Incoming?Elevate your trading skills and gain a competitive edge. Get your hands on the US Dollar Q4 outlook today for exclusive insights into key market...
Weekly Market Recap (23-27 October)
MondayMonday was an empty day on the data front with just a couple of notable events:We haven’t seen a ground offence in Gaza over the weekend, although the airstrikes continued. Nonetheless, the risk sentiment improved as the ground operation is seen as the biggest...
US September PCE core +3.7% vs +3.7% expected
Core PCE yyPrior was +3.9%PCE core MoM +0.3% vs +0.3% expectedPrior MoM +0.1%Headline PCE +3.4% vs +3.4% expected (prior +3.5%, revised to 3.4%)Deflator MoM +0.4% vs +0.3% expected (prior +0.4%)Full reportConsumer spending and income for September:Personal income...
Watch out for a hot headline PCE number
PCE price index yyInflation and consumption are on the agenda today with the September US PCE report coming up at the bottom of the hour. There is good reason to think that the PCE price index will overshoot the +3.4% y/y and +0.3% m/m consensus. In yesterday's GDP...