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,...
S&P 500 falls more than 1% for the second time this month
The S&P 500 fell 52 points, or 1.15% today, to 4437. It was the second 1% drop this month and before that the index hadn't fallen a full point since March. With the decline today, the index also fell to a one-month low.Home Depot today reported earnings and...
Forexlive Americas FX news wrap: The US consumer continues to spend
Markets:Gold down $5 to $1902US 10-year yields up 3.3 bps to 4.21%WTI crude oil down $1.51 to $81.00GBP leads, NZD lagsThere were some larger moves in equities today and fixed income was volatile but the FX market wraps up the day largely unchanged with the big majors...
Bitcoin sags as the wait continues for an ETF approval
Earlier today, Eamonn highlighted how today marked 160 days since the spot bitcoin ETF was filed by Grayscale. That's the usual outside timeline for approval but this is far from a usual case. That means the timeline is unclear but the final deadline is October 5,...
WTI crude oil loses $1.52 to settle at a one-week low
WTI crude dailyData today showed the US consumer is strong and normally that would be good news for oil but it's China that's currently the concern. The PBOC surprised with a rate cut today but it was coupled with disturbingly-slow economic data and that's what is...
USDJPY moves back toward unchanged on the day
USDJPY trades near unchangedThe USDJPY traded lower in the US session (see 4-hour chart above), but did find support near the high of a swing area between 144.898 and 145.07. The low price for the day reached 145.10.The price has rebounded back toward the close from...
Dow down -300 points. Nasdaq down -100 points
Dow Industrial Average is a testing at 200 hour MAThe Dow Industrial Average is now down around 310 points on the day or -0.90% at 34990. Looking at the hourly chart, the price is testing/breaking below its rising 200-hour moving average of 35007.64. Move below – and...
The NZDUSD is trading near lows ahead of RBNZ rate decision. What are the key levels?
The RBNZ meets and announces their interest decision in the new trading day (at 10 PM ET). After 12 consecutive hikes, the central bank kept rates unchanged at their last meeting at 5.5%. They are expected to keep the rate unchanged once again. Going forward the...
Atlanta Fed GDPNow sees 3Q growth at 5.0% up from 4.1% last.
Atlanta Fed GDPNow estimate for 3Q growth at 5%The Atlanta Fed GDPNow model is now pointing toward growth of a 5.0% for 3Q. That is up from 4.1% from it's last estimate. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate)...
UAW announces preparations for strike authorization votes to be held next week
The 150,000 members of the United Auto Workers could be headed towards a strike. The union announced preparations for votes to be held next week by members at GM, Ford and Stellantis.A strike would hit industrial production hard and this could be an arduous one given...
European equity close: UK stocks lead the way lower while Italy bucks the trend
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,...
USDCAD uses moving averages as support and last week’s high as resistance.
Traders have defined a trading range for the USDCAD.On the downside, the rising 100 hour moving average of 1.3441 and the 200 day moving average 1.34478 is support. The lows for the day found support bars against that level in the early European and early US trading...
Russia discusses return to capital controls to halt ruble drop
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,...
Fed’s Kashkari: I feel good about progress on inflation but it’s still too high
Kashkari is participating in a moderated Q&A followed by an audience Q&A. I'll update the headlines as they roll in.We have been surprised by the economy's resilienceQuestion is whether we have done enough or need to do moreOn average the banking system is...
Fall in oil outweighs hot CPI as Canadian dollar slumps
The Bank of Canada got its final look at inflation data today ahead of the September 6 rate-setting meeting. Prices rose a surprising 0.6% in the month compared to 0.3% expected and core prices rose 0.5% m/m. That number has helped to boost the implied hike odds at...
New Zealand GDT price index -7.4%
GDT price indexNew Zealand globaldairytrade price index -7.4%Avg price at USD$2875Whole milk powder -10.9%This is a terrible result and the index is at its lowest since November 2018. It doesn't weigh on NZD the way it used to but this is a headwind for terms of...
GBPUSD higher on the day, but there is up and down volatility too
NoThe GBPUSD is higher on the day but with its share of up-and-down volatility. The price is back above its 100 and 200-hour moving averages at 1.2702 and 1.27188 respectively. If the price can stay above those levels, the buyers are more in control in the short term....
HSBC: Skeptical about an AUD/USD rebound amid China property concerns
AUDUSD dailyHSBC weighs in on the recent AUD/USD movements, expressing reservations about a significant rebound. Even though the pair appears oversold at present levels, it seems to be held captive by China's property sector turbulence.Key Points:Impact of China's...
US business inventories for June 0.0% versus 0.1% expected
> US business inventories for June 0.0% versus 0.1% expected Business inventories for June 2023 <!--> --> <!--> Prior month 0.2% revised to 0.0%Business inventories for June 0.0% versus 0.1% expected. YoY inventories up 2.0%Retail inventories 0.3%...
US NAHB August housing market index 50 vs 56 expected
NAHB housing market indexPrior was 55 Current single family home sales 57 versus 61 in Junehome sales over next 6 months 55 versus 62 in June index of prospective buyers 34 versus in 40 JuneThe big news among home builders today is that Berkshire Hathaway revealed a...