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The EURUSD is cracking lower and looks toward support near 1.1184. The move to the downside is moving away from its 100-hour moving average currently at 1.1228. Admittedly, the price action today has seen the EURUSD price move above and below the moving average in the...
oil was just below the 200dma ahead of the releaseWTI crude oil is trading just shy of $77 ahead of this week's EIA inventory report at the bottom of the hour.The consensus on the data:Crude -2440KGasoline -1577KDistillates +460KThe API data released late...
The USDCHF trades in a narrow up-and-down trading range of only 33 pips. The 22-day average (about a month of trading) is at 64 pips. Technically, on the weekly chart (see video above) the price last week broke below 2021 lows, and on the break traded to the lowest...
The major indices are trading higher in early US trading. The Dow Industrial Average is trying for its 8th positive day in a row. The gains in the Dow are led by Verizon (up 3.58%), Salesforce (up 2.11%), and Unitedhealth (up 2.14%).A snapshot of the major entities...
Some news and services are reporting that ECB's Nagel is saying that the central bank is likely to raise rates by 25 basis points next week. The comments mirror earlier ones today:Inflation is a greedy beastIt would be a mistake to ease up on the fight too soon and...
The USDJPY moved higher helped by comments from BOJ's Ueda who seem to support continued yield curve control. The BOJ will announce her latest interest rate decision next week. There was speculation of the YCC measures being changed. The price of the USDJPY moved...
Do you know which has been the strongest major in 2023? Well yes, the Pound Sterling, +6.98% is the YTD result of its weighted index (ok, the CHF didn’t do so bad neither). Well, UK inflation has been the highest among the DMs and the ‘Old Lady’...
After running higher and reaching the highest levels since April 2022 at the end of last week, the sellers in the GBPUSD started to lean against resistance near 1.3146 (off the daily char - see video). The price fell yesterday and in the process dipped back below the...
> US June housing starts 1.434M versus 1.480M estimate The US in June 2023 housing starts and building permits data <!--> --> <!--> Prior housing starts 1.631M (data was much higher than the estimate of 1.400M) revised to 1.559MPrior building permits...
The economic calendar is fairly light today with US housing starts and building permits to be released at the bottom of the hour. At 10:30 AM, the weekly oil inventory data will be released. The U.S. Treasury will auction off 20-year bonds at 1 PM ET:housing starts...
Headlines:Markets:USD leads, GBP lags on the dayEuropean equities higher; S&P 500 futures flatUS 10-year yields down 2.9 bps to 3.760%Gold down 0.3% to $1,973.18WTI crude up 0.2% to $75.88Bitcoin up 0.8% to $30,018UK inflation was the highlight of the session and...
Prior +0.9%Market index 210.7 vs 208.4 priorPurchase index 163.2 vs 165.3 priorRefinance index 446.4 vs 416.0 prior30-year mortgage rate 6.87% vs 7.07% priorMortgage applications increased slightly again in the past week, owing this time to a notable decline in the...
In case you missed Ueda's remarks from yesterday, you can check them out here. That is weighing on the Japanese yen as he certainly doesn't sound like he is about to bring about any imminent changes to the BOJ policy settings. USD/JPY is up over 100 pips currently to...
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 commodity markets are crucial to commerce. The global economy might collapse without energy to move and build things, metals to manufacture, and grains to create food. Choosing the right commodity to trade requires knowing why a commodity might move and the...
And in the case of AUD/USD, it keeps the retreat from 0.6900 at the end of last week going as price now slips back under the 0.6800 mark:AUD/USD daily chartThe Chinese yuan is significantly weaker today, as USD/CNY rises up from 7.18 to near 7.22 and that is weighing...
This builds from the earlier post here. UK bond yields are now sharply lower on the day and with good reason, as the market odds for the BOE outlook have shifted by quite a fair bit as seen here. 10-year gilt yields are also down around 15 bps now to 4.18% on the...
Earlier this week, the odds for a 50 bps rate hike in August were seen at around 66% but that has now dropped to roughly 41% with a 25 bps rate hike being favoured, with a probability of 59%. That comes after the UK CPI data here earlier today.Meanwhile, money markets...
The number of foreign visitors for both business and leisure was seen at 2.07 million last month, crossing the 2 million mark for the first time since February 2020. That's a positive sign for local businesses and the tourism sector, but is still down roughly 28% from...
POUND STERLING ANALYSIS & TALKING POINTSUK CPI comes off 30-year highs.Drop in core inflation reduced peak rate figure.Pound down over 0.5% on GBP/USD and EUR/GBP. Recommended by Warren Venketas Get Your Free GBP Forecast Get My Guide GBPUSD & EUR/GBP...