The major US indices are opening mixed/little changed. The Russell 2000 is higher and leading the wayYesterday all three major indices fell.Dow Industrial Average fell -324.80 points or -0.85% at 42,740.42S&P fell -44.59 points or -0.76% at 5815.26.Nasdaq fell...
US stocks set for a flat open, eyes on tech
There are some compelling arguments out there that the disappointing ASML orders don't have a read-through to AI chipmakers as ASML's miss is one chips related to the real economy, like autos. We know that's weak but Nvidia is trading on a different theme and didn't...
Kickstart the FX trading for Oct. 16 with a technical look at the EURUSD, USDJPY & GBPUSD
In the kickstart video for October 16, I take a look from a technical perspective at the EURUSD, USDJPY and GBPUSD. What next?EURUSD: The EURUSD on Monday moved and stayed below its 100-day moving average at 1.0936. The subsequent fall meandered its way down to a low...
Gold flirts with a new record high. Eyes on China and bonds
Gold is shining once again today and nearing a record high. It's up $22 to $2683, just short of the $2686 record set on September 25.gold dailyI spoke to Kitco last week on the outlook for gold and highlighted the strength on Thursday and Friday and how that was a...
US September import prices -0.4% versus -0.2% estimate
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 August manufacturing sales -1.3% vs -1.5% 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,...
Canada September housing starts 223.8K vs 237.5K 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,...
ForexLive European FX news wrap: Sterling falls on softer UK inflation data
Headlines:Markets:EUR and USD lead, GBP lags on the dayEuropean equities lower, UK stocks up; S&P 500 futures up 0.1%US 10-year yields down 2.8 bps to 4.010%Gold up 0.5% to $2,675.48WTI crude down 0.4% to $70.29Bitcoin up 2.0% to $67,830The main focus of the...
US MBA mortgage applications w.e. 11 October -17.0% vs -5.1% 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,...
AUDUSD Technical Analysis – The buyers need to break this key trendline
Fundamental OverviewThe bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with...
GBPUSD Technical Analysis – The weak UK CPI is not enough for a breakout
Fundamental OverviewThe bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with...
Sterling the main mover in the FX space so far on the session
The pound is lower owing to the softer UK CPI report earlier here. That rebuffed BOE rate cut expectations for next month, which were already high to begin with. Traders saw ~80% odds of a 25 bps rate cut for November and bolstered that to ~91% now. GBP/USD fell from...
This catalyst could trigger a huge selloff in gold
The bullish momentum in gold remains unabated given the lack of bearish catalysts. We did get a pullback in the end of September/start of October as the repricing in the aggressive rate cuts expectations raised real yields and weighed on the market. There's lots of...
EURUSD Technical Analysis – Time for a pullback?
Fundamental OverviewThe bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with...
BOJ governor Ueda to visit China later this week
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,...
Italy September final CPI +0.7% vs +0.7% y/y 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,...
AUD/USD tests waters below key support as downside momentum continues
AUD/USD daily chartThe surging optimism from China before the Golden Week holiday gave the aussie a noticeable boost. But that has largely faded as the dollar rebounded and also as investors are coming off cloud nine on the China optimism. Chinese equities have been...
The gold train looks to march on
Gold (XAU/USD) daily chartOnce again, the bullish momentum for gold continues to impress. After a brief retreat back near $2,600, gold is catching a solid bounce since the end of last week to now hit $2,674 levels. That is seeing price action close in on the record...
Gold Technical Analysis – Lack of bearish catalysts keeps the bid going
Fundamental OverviewThere hasn’t been any catalyst this week for the rally in gold although we had a key technical breakout which might have increased the bullish momentum. The lack of bearish catalysts though is helping to keep the bid going as the market has...
Gold and Silver: A Correlated Duo
While gold and silver often move in tandem, their relationship can sometimes be complicated. Despite sharing similar characteristics and applications, differences in underlying demand and supply dynamics can lead to occasional divergences. Octa broker discovers the...