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,...
End of day technical look at the EURUSD, USDJPY, GBPUSD and USDCHF.
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,...
July non-farm payrolls preview: ADP vs ISM edition
Heading into last month's jobs report, we were looking for a 15th straight month of beating the consenus but it fell just short at +209K vs +225K expected. Here is what to look for this time.Consensus estimate +200K (range +140K to +300K)Private +179KFebruary...
Apple and Amazon earnings after the bell. What is expected? What are the charts saying?
Apple and Amazon will release earnings after the bell today. So what is expected?:Estimates for Apple's earnings:Revenue: $81.7 billionEarnings per share (EPS): $1.19iPhone revenue: $39.9 billioniPad revenue: $6.4 billion (down 11% on the year)Mac revenue: $6.6...
MUFG: BOE’s decision to slow tightening likely precedes a final hike in September
In the wake of the Bank of England's latest monetary policy decision, MUFG has shared its analysis, suggesting that while the pace of tightening has been slowed, another rate hike may still be on the horizon.Key Points:Reduced Tightening Pace: The BoE opted for a...
What’s next for bonds — watch the calendar
What's next for the bond market is all about non-farm payrolls. The Friday jobs report is expected to show 200,000 jobs created but if there's a disappointing reading, the market will read that as a sign that the Fed hiking cycle is over. Moreover, talk about a...
US stocks are at session highs. NASDAQ leads the way
The major indices are trading to new session highs. All 3 indices are trading in positive territory. The gains are led by the NASDAQ index which is up around 0.37%.A snapshot of the market shows:Dow industrial average up 40.95 points or 0.12% at 35123.48S&P index...
WTI crude oil futures snapback higher today
Earlier today, Saudi Arabia announced that it will extend its voluntary 1 million barrels per day (mbpd) oil production cut through September. They added that the cuts could potentially be extended or deepened. Following this announcement, Crude oil prices increased...
AUDUSD corrects higher today and retests a broken swing area
The AUDUSD is trading up and down today. The price has moved up more recently extended to a new session high. In the process, the pair is tested the low of a swing area between 0.65586 and 0.65667 on the 4-hour chart below. A move of the swing area would have traders...
Mad admits to being the original Bitfinex hacker
The original Bitfinex hacker has finally been identified. Ilya “Dutch” Lichtenstein, a resident of New York, has admitted to being the original Bitfinex hacker. The coins were worth $71 million at the time and the value eventually grew to $4.5 billion.Lichtenstein and...
USDCAD sellers push lower but fall stalls at earlier low and retracement target
The USDCAD moved higher earlier in the day and in the process, was able to extend below the 50% midpoint of the move down from the May 2023 high. The midpoint level came in at 1.33729. The high price reached about 5 pips higher at 1.33774 before failing and rotating...
NatWest cuts Bank of England peak rate to 5.50% from 6.00%
The tone from the Bank of England was less-hawkish today and that's led NatWest to cuts its terminal peak rate forecast to 5.50% from 6.00%.Market pricing puts the terminal rate at 5.70% next March. For the upcoming meeting on Sept 21, the market is at a 61% chance of...
European equity close: A third day of heavy selling
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,...
USDCHF retests the 100 hour MA again, and finds willing buyers.
The USDCHF moved above the 50% midpoint of the move down from the end of June high at 0.8784 in the European session, but could not sustain momentum. As a result, the price rotated back to the downside. Swiss CPI did come in at -0.1% which helped to push the USDCHF to...
Cable bounces back after the Bank of England
In the days leading up to the Bank of England announcement, you could see the tide shifting away from 50 bps. The RBA announcement and dipping European data added to the momentum.We're seeing something of a 'sell the rumor, buy the fact' trade in cable as it now...
USDJPY moves lower despite the rise in yields. Support on the daily tested.
Despite yields moving higher (curve steepening continues to drive the debt market), the USDJPY is moving to a new session low and in the process is testing (and now breaking ) below is 100 hour moving average at 142.49. Stay below the moving average level keeps the...
US factory orders for June 2.3% versus 2.2% expected
Factory orders rise 2.3% in JunePrior month 0.3%Factory orders 2.3% versus 2.2% expected. Best since June 2021Ex transportation 0.2% versus -0.4%Orders are up 6 of the last 7 monthsShipments of factory orders rose by 0.1%Unfilled orders of factory orders increase by...
US July ISM services 52.7 vs 53.0 expected
Details:employment index 50.7 versus 53.1 priornew orders index 55.0 versus 55.5 priorprices paid index 56.8 versus 54.1 prior new export orders 61.1 versus 61.5 priorimports 52.3 versus 54.6 priorbacklog of orders 52.1 versus 43.9 priorinventories 50.4 versus 55.9...
S&P Global final US services PMI 52.3 vs 52.4 prelim
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,...
Major US stock indices are opening lower as yields continue their march higher
US yields continue to move higher with the longer and outpacing the short end. The 30-year yield is up 12.4 basis points to 4.288% (the highest level since November). The 10-year is up 10.3 basis points to 4.182% (also the highest level since November).The rise in...