Prior was 697KSingle family sales +4.4% vs -2.8% priorMedian sale price $ 436.7K vs $478.2K a year ago (-8.7%) Supply months 7.3 vs 7.4 months priorThis is a solid report but the a couple things are growing more clear. 1) Home builders are cutting the size of homes...
US dollar moves lower after weaker flash US PMI data. What next technically?
It's now the USD turn to react to lower PMI. The US manufacturing and services PMI came in weaker than expected. The manufacturing came in at 47.0 versus 49.3. The services index dipperd to 51.0 from 52.2. The composite index remained just above the 50 level at 50.4...
Eurozone August flash consumer confidence -16.0 vs -14.3 expected
> Eurozone August flash consumer confidence -16.0 vs -14.3 expected Early release of August eurozone flash PMI <!--> Adam Button Wednesday, 23/08/2023 | 13:49 GMT-0 23/08/2023 | 13:49 GMT-0 --> <!--> Prior was -15.1 ADVERTISEMENT - CONTINUE READING...
USDCAD moves higher after Canadian retail sales. What are the charts telling traders now?
Buyers in the USDCAD took the price above a swing area between 1.3564 and 1.3585 after weaker Canadian retail sales. The buyers are making a play and potentially looking toward the extremes from April and May as the next key targets. If the price can stay above the...
US August S&P Global services flash PMI 51.0 vs 52.2 expected
Prior was 52.3Manufacturing 47.0 vs 49.3 expected (prior was 49.0)Composite 50.4 vs 52.0 prior"Cost pressures regained some momentum as the rate of input price inflation quickened on the back of greater fuel, wage and raw material costs."US firms were more upbeat in...
Major US indices open higher. Nvidia earnings after the close
The major US indices are opening higher with modest gains across the board. US rates are lower ahead of flash PMI data coming out soon, followed by consumer confidence and a new home sales at 10 AM. Consumer confidence expected at -14.3 versus -15.1. New home sales...
There aren’t many sources of global growth left. Eyes on US services PMI next
The charts speak for themselves today:Eurozone services PMIUK services PMIThe market certainly noticed with the euro and pound both dropping today. The pound has fallen particularly hard as the market rethinks the need for rate hikes.In Canada, there were signs of...
August 23: Kickstart your FX trading with a technical look at the EURUSD, USDJPY & GBPUSD
Kickstart your FX trading day with a look at the EURUSD, USDJPY and GBPUSD from a technical perspective:EURUSD: The EURUSD has moved sharply lower after weaker PMI data. The price is testing its 200-day moving average at 1.0797. The last time the price moved below the...
June Canada retail sales +0.1% vs +0.0% expected
Prior was +0.2%June advance reading was 0.0%Ex autos -0.8% vs +0.3% expected (prior was 0.0%, revised to -0.3%)July advance reading +0.4%June year-over-year sales -0.6% vs +0.5% priorSales ex autos y/y -3.3%Vehicle sales are the only thing holding up sales and I...
Canadian retail sales coming up next
Some large Canadian retailers reported a failing consumer this summer in earnings and now it's time to see the official data. We get the June retail sales report today, which is expected to be flat but eyes will be on the July advance reading.The consensus on June is...
Ethereum Technical Analysis – The breakout openned the door for lower levels
Ethereum, like his big brother Bitcoin, eventually fold as the big picture outlook is starting to look more and more bleak with global growth endangered by the Chinese ailing economy and lack of big stimulus from the authorities, and the “higher for longer” stance...
The JPY is the strongest and the GBP is the weakest as the NA session begins
The strongest to the weakest of the major currenciesThe JPY is the strongest and the GBP is the weakest as the North American session begins.The USD is mostly, but moderately higher as US traders enter for the day.The flash manufacturing and services data was dumped...
ForexLive European FX news wrap: Euro, sterling fall on PMI misery
Headlines:Markets:JPY leads, GBP lags on the dayEuropean equities mixed; S&P 500 futures up 0.16%US 10-year yields down 6.9 bps to 4.258%Gold up 0.4% to $1,904.34WTI crude down 1.4% to $78.51Bitcoin up 0.3% to $25,926It was all about the PMI data releases in...
Equities pare early gains, Nvidia earnings still the one to watch
European indices have pared their earlier gains as US futures also pull back from the highs earlier. At first, it seemed like the awful PMI data in Europe would have no impact on equities but we are starting to see some nerves creep up again now. Here's a snapshot of...
US MBA mortgage applications w.e. 18 August -4.2% vs -0.8% prior
Prior -0.8%Market index 184.8 vs 193.0 priorPurchase index 142.0 vs 149.5 priorRefinance index 397.1 vs 408.4 prior30-year mortgage rate 7.31% vs 7.16% priorThe pain in the mortgage market continues as we see another 4% drop in applications in the past week. Both...
Bitcoin Technical Analysis – The bearish bias remains
Bitcoin eventually fold as the big picture outlook is starting to look more and more bleak with global growth endangered by the Chinese ailing economy and lack of big stimulus from the authorities, and the “higher for longer” stance from the Fed or even more rate...
European Stock Indices Stay Bid for Now
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, Dow Jones Analysis and ChartsFTSE 100 still hovers above supportThe FTSE 100 continues to precariously range trade in low volatility above its March and July lows at 7,228 to 7,204 which represents...
EUR/USD on the brink as PMI data weighs on the euro
EUR/USD daily chartThe drop in the euro today comes as traders are also pulling back on odds of a 25 bps rate hike by the ECB next month. That has been trimmed to ~51% now from around ~65% before the PMI data. In turn, this is all weighing on the euro with EUR/USD now...
Copper Technical Analysis – The sellers are in control
Copper continues to be tightly correlated with what happens in China, which is not surprising given that China makes up for more than 50% of world imports. In fact, we saw how the stimulus hopes raised the price of Copper, and weak economic data and lack of major...
Building a Stronger Team: BDSwiss Appoints Top Talent to Drive Innovation, Client Success
BDSwiss takes pride not only in offering best-in-class services to its clients but also in hiring high-calibre professionals to drive its mission forward. The Forex and CFD industry leader has proved that client success starts from the top. With two co-chief...