The EURUSD has been trending to the downside recently, and in the process has extended toward August low levels. My most recent technical videos on the pair, have been focused on the 4-hour chart as the market trended lower. If you watch the kickstart video from...
What is the bond market trying to tell us
US 10sIt's tough to gauge exactly what the bond market is saying but US 10-year yields have risen 9 bps today and are trading at 4.10% from a low of 3.60% a month ago.A portion of that -- for sure -- is pricing out a recession. A month ago, non-farm payrolls were...
ECB sticks to data-driven approach – Westpac
The ECB delivered the widely anticipated 25bp rate cut today, with President Lagarde sticking to her guns on a meeting-by-meeting approach. Despite the ECB's "no preset path" mantra, markets are already betting on another cut in December and a 22% chance they lower...
USDJPY extends to new highs. Buyers make a play and look toward key daily MA targets
The USDJPY is extending above the high from earlier this week at 149.974 for the 2nd time today, but is finding more upside momentum on this break.. The price just reached 150.29. The price of the USDJPY has traders now focused on other targets above including the 50%...
NZDUSD buyers try to make a play. What needs to happen to give them an edge in the ST.
The NZDUSD has been consolidating over the last week or so of trading with the 61.8% of the move up from the August low. That level comes in at 0.60509. Last week, the price held that level, bounced, and then broke below the level but quickly rebounded. This week the...
ECB sources: Policymakers expect to cut in December unless data shows marked turnaround
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,...
Atlanta Fed Q3 GDPNow 3.4% vs 3.2% prior
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,...
European equity close: Stocks cheer the ECB rate cut
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,...
Canada’s Trudeau to shuffle cabinet as he fends off party revolt
AI imageTrudeau and the ruling Liberal Party are polling terribly in Canada so the knives are out.Yesterday, the Globe and Mail reported that a backbench revolt is brewing and that he could face a demand from 20 MPs to give up party leadership.Now, four cabinet...
USDCAD bounces off retracement support. Can the buying continue toward the highs now?
The USDCAD moved up for 9 consecutive days and was on its way to 10 straight on Tuesday before hitting a resistance target area near 1.3833 to 1.3847 and finding sellers/profit takers. The move back to the downside saw the price move down for 2 days and back to a low...
Some major Chinese banks are to lower deposit rates from Friday – report
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,...
EIA weekly crude oil inventories -2191K vs +1835K 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,...
Gold nears $2700 with eyes on China
gold dailyGold is up $22 to $2695 today and threatening to touch $2700 for the first time.I'm watching China as a catalyst. Chinese stocks are lower again today as they continue to retrace the big October rally. Earlier today, Chinese officials touted a big...
The USDCHF keeps it bullish bias, but the EURCHF moves lower. What next for each?
USDCHF: The USDCHF moved lower from earlier highs but found support buyer near the 38.2% of the move down from the July high at 0.86318. The inability to move and stay below that level increases the levels importance going forward technically. If that level hold, the...
US says watching upcoming Putin-Xi meeting, expects to see deeping of support
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,...
US August business inventories 0.3% vs 0.3% expected
inventoriesPrior month business inventories 0.4%Prior month retail inventories ex auto 0.5%Business inventories for August 0.3% versus 0.3% expectedRetail inventories ex autos 0.5% versus 0.5% last monthSales: The combined value of distributive trade sales and...
US October NAHB home builder sentiment 43 vs 42 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,...
Nvidia shares break the June high to hit a record
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,...
The ECB is behind the curve and oblivious to it
The euro fell to a two-month low of 1.0812 during the ECB press conference. Some of that was on the US dollar side as retail sales beat expectations but the bulk of today's 40 pip decline in domestically driven.The ECB just doesn't seem to get it.Lagarde repeatedly...
Semiconductor sector surges: Microsoft and Apple lead tech rally
Stock heatmap by FinViz.com Thu, 17 Oct 2024 13:46:13 GMTSector OverviewToday's market heatmap reveals a vibrant day for the semiconductor sector, with key players like Nvidia (NVDA) jumping 2.85% and Broadcom (AVGO) skyrocketing 3.13%. These gains underline strong...