The NZDUSD traded to a new high in early Asian trading. The high price extended up to a swing area between 0.62186 and 0.62235. The high price extended to 0.62215 and started rotation back to the downside.In the current 4-hour bar, the price has dipped back below the...
Russell 2000 continues to show relative strength
Russell 2000 dailyThe Russell 2000 appeared to break out Friday and that has continued today, despite a darker tone for broader markets. The Nasdaq is down 1.2%, and the S&P 500 down 0.6% but the Russell 2000 is up 0.6%. That comes after a more-than 2% gain on...
USDJPY testing crucial moving averages: Will bulls prevail? Or bears hold the line?
The USDJPY is trading to a new session high and in the process is retesting its 100-day moving average at 147.242. Just above that is the falling 100-hour moving average at 147.380. USDJPY tests 100 day MAGetting above both those moving averages would be needed to...
USDCAD in neutral territory as price rebounds, traders await the next shove (up or down)
The USDCAD fell lower last Friday and in the process broke below its 100-day moving average at 1.3565 (blue line in the chart below), it's a 200-day moving average (green line in the chart below) at 1.3516 and 50% midpoint at 1.3495 respectively. Today, there was an...
European equity close: Modest losses as the new week begins
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,...
Saudi energy min: OPEC+ cuts can ‘absolutely’ go beyond Q1
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,...
Israeli defense min: Expect the war to continue at current intensity for at least 2 months
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,...
Tech Giants take a tumble as NASDAQ stocks plummet
The US stocks continue to retreat with the NASDAQ index leading the way. The NASDAQ index is leading the way this year with a oversize gain of 34.52%. That comes after a -33.1% decline last year.NASDAQ index is pushing lowerThe NASDAQ index is currently down -243...
Aggressive resersal appears on the gold chart
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,...
Goldman Sachs: JPY strength near its limits and should be faded
JPY dailyGoldman Sachs provides an analysis of the Japanese yen, suggesting that its recent strength may be nearing its limits. The firm recommends against pursuing further outperformance of the JPY, based on forecasts and market dynamics.Key Points:JPY Outperformance...
AUDUSD reverses from a new high as dollar strengthens, RBA meeting the focus
The AUDUSD moved to a new high going back to August 1 today but has since reversed the lower as the dollar moved higher and start to move lower leading to a risk off sentiment in the pair. The Reserve Bank of Australia will meet in the new trading day and are expected...
US October factory orders -3.6% vs -2.8% 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,...
Ford vehicle sales fell 0.5% y/y in November
Ford reported total sales of 145,559 vehicles in November, compared with 146,364 units last year, a drop of 0.5%. There may have been some impact from the strike but auto lots have decent inventory.I think autos are one of the most-interesting spots in markets in the...
Major US stock indices open the week on the soft side led by the NASDAQ index
The major US stock indices are taking a breather at the opening of the new trading week. The declines are led by the NASDAQ index which is down around 1%. Last week each of the major indices moved higher extending the up streak to 5 consecutive weeks. Are we due for a...
USD is running to the upside ahead of the stock open
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,...
Risk aversion bites harder, US dollar rises to the best levels of the day
The US dollar is at the best levels of the day as S&P 500 futures extend declines to 32 points, or 0.7%.Risk aversion is creeping in with yields rising 7 bps at the front end. Gold is now down 1.2% after rising to a recorder earlier. EUR/USD is down 63 pips and is...
JP Morgan Private Bank says it’s time to lock in the long end
US 10 year yieldsJP Morgan Private Bank is out with its outlook for 2024 and they mostly paint between the lines, seeing inflation coming down and equities headed to new highs. If you're looking for optimism1. Inflation's Cooling, but Stay Sharp: "Inflation will...
Factory orders highlight the US economic calendar, the Fed is now in the blackout
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,...
ForexLive European FX news wrap: Dollar steady, gold erases early spike higher
Headlines:Markets:JPY leads, AUD lags on the dayEuropean equities lower; S&P 500 futures down 0.4%US 10-year yields up 3.1 bps to 4.254%Gold down 0.1% to $2,069.43WTI crude down 0.6% to $73.62Bitcoin up 7.4% to $41,675Gold and Bitcoin are the early movers to start...
US futures ease lower ahead of the open later
There's not much in terms of headlines driving the early market moves this week but equities are perhaps looking to consolidate gains ahead of the major events in the coming two weeks. US futures are pointing to a lower start, after five straight weeks of gains. So,...