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...
More pain as bonds dump, stocks sink
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...
US sells 5-year notes at 4.659% vs WI at 4.671%
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 set to sell 5-year notes at auction
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...
NVIDIA skimming the 100 day MA over the last 5 trading days. Can buyers hold support?
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...
Gold falls $23 to the lowest since March
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...
European equity close: Stock markets inch closer to the summer lows
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...
USDCAD makes it to the key cluster of resistance at 50% & 100/200 bar MAs on 4-hour chart
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...
Nomura raises China GDP forecast to 4.8%
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 tests the swing area extreme and finds dip buyers
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 turns negative as Treasury yields rise once again
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...
Turnaround trade in China? Buy AUD/CAD, ANZ says
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...
EIA crude oil inventories for September 22 week -2.170M versus -0.320M estimate
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...
WTI crude oil is trading up $2.14 or 2.37% at $92.53
WTI crude oil breaks to highest level since November 2022The price of WTI crude oil is trading up $2.27 or 2.51% at $92.65. The high price reached $92.72 which is the highest level since November 7.Looking at the hourly chart above, the price moved above the swing...
EURUSD extends toward 1.0500
EURUSD falls into a swing area between 1.04846 and 1.05335The EURUSD is moving to a new session loan in the process is getting closer to the 1.0500 level. The prices reach 1.05153. The pair on Monday will below its 38.2% retracement of the move up from the September...
Major US stock indices higher after yesterday’s sharp declines
The major US stock indices are rebounding from yesterday's sharp declines which saw the NASDAQ fall -1.57%, and the S&P index fall -1.47%.A snapshot of the market 6 minutes into the open is showing:Dow industrial average +15.49 points or 0.05% at 33634.38S&P...
USDCHF extends above it 38.2% retracement and 0.91615
USDCHF above 38.2% retracementThe USDCHF has continued its run to the upside. The pair is up 10 of the last 11 trading days. That move has seen the price move from 0.88967 to the high price today of 0.91929.Technically, the price today extended by the 38.2%...
Stock futures point to a higher opening
The US stock futures are implying a higher opening for the major indices after sharp declines yesterday. Nevertheless, the major broader indices (S&P and NASDAQ) are on pace for their worst month since December 2022. Looking at the futures, they are implying:Dow...
Kickstart your FX trading on September 27 w/ a technical look at EURUSD, USDJPY and GBPUSD
To kickstart your trading day in the Forex on September 27, 2023, I take a look at the EURUSD, USDJPY and GBPUSD from a technical perspective:EURUSD: The EURUSD corrected higher yesterday and in the process tested a broken 38.2% retracement of the move up from the...
US August durable goods orders +0.2% vs -0.5% expected
Prior was -5.2%Non-defense capital goods orders ex-air +0.9% vs 0.0% expectedPrior non-defense capital goods orders ex-air +0.1% (revised to -0.4%)Ex transport -0.7% vs +0.1% expectedEx defense -0.7% vs -5.5% priorShipments +0.7%The core orders number is a good one...