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The major stock indices closed higher on the day. The Dow led the way with a gain of 1.06%. That was good for the 7th consecutive up day for that index. The Nasdaq and the S&P each closed higher for the 6th in 7 trading days. The final numbers are showing:Dow...
The Reserve Bank of New Zealand has very strongly signalled its on hold for now, so unless the CPI is extremely ugly (well above expected) the data today should not have too lasting an impact on the NZD. This snapshot from the ForexLive economic data calendar, access...
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,...
MCD dailyI was on vacation last week in Montreal and was amazed at just how much busier McDonald's was than Burger King. I was on an extremely busy street at dinner time and McDonald's was absolutely packed and Burger King completely empty. You can see it in the...
The Dow industrial average is working on a six-day winning streak. The NASDAQ and S&P have been up 5 of the last 6 days coming into today. All 3 indices are higher today with the Dell industrial average and the NASDAQ index now both up over 1%. The S&P is up...
Microsoft is leading a charge in tech stocks after revealing pricing for its AI assistant. Netflix is also up 5% after an upgrade as tech stocks continue to impress.The April 2022 high is now withing striking distance as the Nasdaq Composite rises 1%.Earnings season...
The price of WTI crude oil recovered to the upside today. The price of the futures settled at $75.75, up $1.60 or 2.16%.Technicals are playing a role in the price action.Crude oil trade between the 100 and 200 day moving averages Recall from last week, the price...
The EURJPY moved to the highest levels since 2008 a few weeks ago. The high at that time reached when 157.99 - just short of the natural resistance at 158.00.The last 2 weeks have seen a corrective move to the downside. Around mid-week last week, the price tested the...
DXY dailyTD Securities maintains its bearish outlook for the USD, suggesting that the currency's recent free fall, following a positive inflation report, marks the beginning of a broader downward trend expected for the second half of 2023 and most of 2024.Key...
US retail sales dataIn June, US retail sales increased by only 0.2%, falling below the consensus prediction of 0.5%. This disappointing result was driven by a decrease in gasoline sales, building materials, and restaurant spending. However, the previous month's data...
More than a year of monetary tightening could not help but leave its mark. In Europe, the central bank's hawkish approach has led to a slowdown in industrial activity and lower GDP forecasts by credit rating agencies. At the same time, in the U.S., the economy itself...
The NZDUSD has moved lower in trading today. The move comes ahead of the QoQ CPI data that will be announced in the new trading day in New Zealand. The expectations are for a gain of 0.9% versus 1.2% last quarter.Technically, the price moved briefly below it to...
Atlanta Fed GDPNow estimate for Q2 growthThe Atlanta Fed GDPNow Q2 growth estimate moves up to 2.4% from 2.3% on July 10. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 is 2.4 percent on...
Microsoft is trading sharply higher after announcing AI Chatbot pricing. Chatbot is to be included within the Microsoft office library. The cost will be $30 per month more for Office subscribers.Microsoft shares are trading up $15.81 or 4.57% at $361.78.The gain...
GBPUSD falls back below the 100 hour MAGBPUSD sellers are currently exerting pressure as the price falls below the 100-hour moving average (blue line in the chart above), which is at 1.3076. Earlier today, the price briefly dipped below this moving average after the...
The intraday chart of the Stoxx 600 shows how it was a ho-hum day until the last 90 minutes of trade as yield fell and stocks caught a steady bid.stoxx 600 5 min chartStoxx 600 +0.7%German DAX +0.4%French CAC +0.4%Italy MIB +0.4%Spain IBEX +0.2%US stocks are at...
The USDCHF sellers remain in control from a longer and shorter-term perspective.USDCHF more bearish on the weekly chartLooking at the weekly chart above, the price for the USDCHF broke below its 2021 low-level last week at 0.87568, and has remained below that level...
Gold daily chartChinese reports of rates cuts and stimulus are helping to lift commodities today and gold is riding that momentum to a $28 gain to $1982.It's also getting help from the bond market as European yields tumble and US rates follow them lower. The market is...
USDCAD up and down tradingThe USDCAD has seen buyers in the early North American session take the price higher and above its 200-hour moving average of 1.32314, and 50% midpoint of the move down from the July 6 high at 1.3239. The high price reached 1.32424, but could...
The AUDUSD is consolidating in up-and-down trading. On the downside, a swing level of 0.6786 followed by the 38.2% retracement of the move up from the July 6 low at 0.67814, is providing the support (see red number circles and the retracement level). On the topside,...