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Australian retail sales is listed as high impact (see screenshot below). Dunno 'bout that. The release might shift AUD/USD a few tics if we're lucky. A beat will lend AUD a bid, a miss and the offer should prevail. Fo a few tics at least. This snapshot from the...
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 GDPNowThe Atlanta Fed GDPNow estiimate for Q3 growth comes in unchanged at 4.9%. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 4.9 percent on September 27, unchanged from...
DXY dailyGoldman Sachs suggests that investors should consider fading (i.e., going against) any US Dollar (USD) weakness that might arise due to a potential US government shutdown. The firm provides multiple reasons, from both historical and economic perspectives, for...
The Nasdaq has stormed back and is now trading up 0.5% after earlier touching the lowest since June. It's an unexpected turnaround given that Treasury yields have barely budged from the highs.We're dealing in some turbulent waters at the moment as quarter-end flows...
Earlier I wrote on the EURUSD as sellers pushed lower:The momentum has continued today with a break into a swing area between 1.04846 and 1.05335. In between sits the natural support at 1.0500.I added:This swing area should attract some dip buyers. If the 1.04846...
Goldman Sachs oil bull Jeff Curie is retiring after 27 years this week and what a sendoff the latest price action is in crude. He predicted higher oil prices all year and they have certainly arrived with crude today touching $94.17. Brent rose as high as $97.06.Prompt...
The USDJPY momentum to the upside has continued with the pair making a new high in the current hourly bar. The high price has now reached 149.69. Earlier today, the price moved above a topside trend line on the daily chart (see chart below) at 149.29. Recall from...
A lower-than-expected yield at today's 5-year auction didn't do anything to stem the pain in the bond market. The auction stopped through by 1.2 bps but the rest of the market used that bounce as an entry to sell more. 5s are now up 7.1 bps on the day to 4.69%. It's a...
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 US is set to sell $49 billion in 5-year notes today at what will be the highest levels since 2007.The on-the-run 5s are trading at 4.66%, up 3.6 bps today. You would think there would be some downward pressure on yields as real money creeps in to grab some decent...
Mixing things up, in this video I take a look at Nvidia.The stock is well off its 2023 high at $502.16, and currently trades at $417 and change. However, the last 5 trading days has seen the price skim the 100 day MA (blue line in the chart below). Buyers are leaning...
Yesterday I wrote: A fall below $1900 would be a one-month low but the real level to watch is $1884. If that gives way, there isn't much support until the low $1800s.It's given way now with gold down $23 to $1876. That paints a bleak technical picture as Treasury...
The selling slowed today but we're nearing some important technical levels.Daily changes:Stoxx 600 -0.2%German DAX -0.3%Francis CAC -0.1%UK's FTSE 100 -0.5%Spain's IBEX -0.4%Italy's FTSE MIB -0.3%Mind these support levels in the Stoxx 600 and note that the DAX is...
My look at the USDCAD yesterday, outlined the buyers taking control, but also highlighted a key cluster of resistance (you can also watch the video there). More specifically, I wrote:The USDCAD buyers are making a play with a move above the 38.2% retracement of move...
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 AUDUSD is lower today and in the process tested the low extreme area between 0.6356 and 0.6364. Buyers leaned against the swing lows and pushed the price back up toward another swing area between 0.6379 and 0.6387. That area will now be close resistance for...
SPX 5 min chartStop me if you've heard this one before: US stocks are falling because Treasury yields are rising.That's been the story almost every day this month and while US 10s fell to 4.49% earlier, they're right back up to a fresh daily high at 4.55%. Yesterday's...
AUDCAD daily chartHighlights:ANZ is keeping a keen eye on opportunities to buy AUD/CAD, forecasting a rebound towards the 0.89 mark. The bank remains optimistic about this strategy, despite a recent unsuccessful attempt.Key Takeaways:Chinese Economic Data:The bank...
Crude oil inventory dataCrude oil inventory draw of -2.170M vs -0.320M estimate. The private report showed a draw of -1.6 million barrels.Distillates build of 0.398M vs -1.298M estimate. The private report showed a drawdown of -1.7 million barrels.Gasoline build of...