Nvidia saves the dayIf you are looking for a savior in the stock market today, it is back to Nvidia whose shares are up $25.73 or 6.3% at $434.21. The low price for the day toyed with the $400 level at $403.11 before jumping to the upside. The catalyst was Morgan...
The battle for US Steel heats up as a second company launches a bid
Weekly US steel chartI've had a low-level interest in steel companies for the past few years, in part because of their sensitivity to the global economy. Also, in part because they reflected a powerful change the began under the Trump administration and has...
It’s our anniversary: ForexLive turns 15
On a mid-August day in 2008, ForexLive came to life. In the early days, it looked something like this:Since then, we've written hundreds of thousands of posts on financial markets all for the extremely affordable price of $0.I know that some of you readers have been...
US crude futures settle at $82.51
The price of WTI crude oil futures is settling at $82.51. That's down $0.68 or -0.82%.Crude oil trades between swing areaThe high price today reached $83.20. The low price extended to $81.76. The low price moved below the old swing area between $82.43 and $83.44. That...
Timiraos: Cleveland Fed 12 month ahead of inflation expectations fall to two-year low
Cleveland Fed inflation expectations falls to 2 year lowWSJ Timiraos tweets that the Cleveland Fed measure of one-year inflation expectations fell to 4.3% in July from 5% in April. This is the lowest level in 2 years.Description: The Survey of Firms’ Inflation...
PBOC member urges stimulus to boost consumption
PBOC monetary policy maker Cai Fang has published a letter calling for urgent consumer stimulus:If the household budget curve is not repaired in time, the lack of confidence in residents' consumption may turn from short-term behavior to long-term behavior. This...
GBPUSD bounces near 100 day MA and swing area.
GBPUSD bounces off 100 day MAThe GBPUSD moved to a session of 1.2615. That was within 3.5 pips of its rising 100-day moving average at 1.26115. Support buyers leaned against the level along with a swing area between 1.25987 and 1.26798. The price has bounced sharply...
EURUSD corrects back to its broken 100 day moving average at 1.09303
EURUSD rebounds back up to retest its 100 day MARates stabilized and moved off highs and stocks rebounded. That has led to a reversal in the USD to the downside. For the EURUSD, the price fell below the 61.8% retracement of the move up from the end of May low at...
NZDUSD – like the AUDUSD – trades to a new low for the year but bounces.
The NZDUSD - like the AUDUSD - traded to new 2023 lows and to the lowest level since November 2023. The price, however, has seen a rebound back toward the low price going back to the end of May at 0.5985. If the price were to get above that level - and stay above that...
At the close: Mixed start for European equities
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,...
AUDUSD trades to new low for the year, but momentum fades. Can buyers take back control?
The AUDUSD traded to a new low for the year, falling below the end of May low at 0.64587. However momentum quickly faded and the price started to rotate back to the upside. That begs the question, "What do the buyers have to do to take back more control?".In this...
Bank of Canada Q2 senior loan officer survey: Lending conditions improve slightly
The Bank of Canada is out with its Q2 senior loan officer survey and results point to a slight easing through June for businesses. Pricing measures improved slightly but non-pricing measures, like availability, improved a bit more substantially.In terms of household...
NY Fed July survey shows 1 year inflation expectations lowest since April 2021
The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the July 2023 Survey of Consumer Expectations, which shows that inflation expectations declined at the short-, medium-, and longer-term horizons. Year-ahead price growth expectations...
USDCAD traders try to stay above key 200 day MA
The USDCAD traders are trying to hold support against its 200 day moving average. That moving average currently comes in at 1.34478. The price has traded above and below that moving average in trading today, but the current hourly bar just held support against the...
10 year yield moves to highest level since November 2022
US 10 year yieldThe US 10 year yield is trading at 4.211%. The high yield rate 4.215%. That has taken the yield above the August for high yield of 4.204% and to the highest level since November 8, 2022. The high yield from 2022 reached 4.335% back on October 21.A...
Ten Top Trading Tips from PrimeXBT Copy Trading Pros
After extensive time utilising the powerful PrimeXBT Copy Trading platform, we have compiled the most valuable insights directly from top performing Followers and Strategy Providers. These professional tips can significantly improve your trading skills, leading to...
Australian dollar breaks the May low, falls to the worst levels since November
AUD/USD daily chartThe US dollar is sizzling to start the week as Treasury yields march higher once again. US 10-year yields are at a session high, up 4.1 bps to 4.20% as Bill Gross talks about 4.50% and waves of supply continue to hit the market.AUD/USD is in the...
Major stock indices are lower (and give up premarket gains) to start the trading week
US stocks are trading marginally lower in early US trading after giving up premarket gains. The NASDAQ is leading the wayA snapshot of the market currently shows:Dow industrial average -13.57 points or -0.04% at 35267.84S&P index -3.84 points or -0.09% at...
GBPUSD is looking toward its 100 day MA at 1.2611. Key MA target for the pair.
The GBPUSD is trading lower today and in the process is moving down toward it's a key 100-day moving average of 1.26112. That moving averages between a swing area on the 4 hour chart between 1.25904 and 1.26238. Moving below that area increases the bearish bias going...
EURUSD moves below its KEY 100 day moving average at 1.0930. Now close risk for sellers.
The EURUSD is moving to a new session low and trades at the lowest level since July 7. The move lower has now taken the price below its 50% midpoint of the range since the January 2021 high at 1.0942, and the100 day moving average at 1.0930.Those levels are now close...