Kickstart your FX trading date with a technical look at the EURUSD, USDJPY and GBPUSD:EURUSD: The EURUSD had a up-and-down trading day yesterday with the move to the upside stalling near its 100 hour moving average at 1.08692. In the Asian-Pacific session today, the...
Bond selling returns: US dollar climbs to the highs of the day
The latest economic data wasn't exactly a screaming buy for the US dollar. The durable goods orders data was soft while the initial jobless claims numbers were on the strong side.I wouldn't hang the latest dollar strength on that. Instead, I think bond flows are back,...
US initial jobless claims 230K vs 240K estimate.
Initial jobless claims fall to 230KPrior week 239K revised to 240KInitial jobless claims 230K vs 240K estimate4-week moving average initial jobless claims 236.75K vs 234.50K last week .Continuing claims 1,702M vs 1.708M estimatePrior week continuing jobless claims...
US July durable goods orders -5.2% vs -4.0% expected
Prior was +4.6%Non-defense capital goods orders ex-air +0.1% vs +0.1% expectedPrior non-defense capital goods orders ex-air +0.1% (revised to -0.4%)Ex transport +0.5% vs 0.2% expectedEx defense -5.4% vs +6.0% priorSome clunky transport orders have come through the...
Durable goods orders and initial jobless claims coming up next
USD/JPY 10 minsOne of the more-annoying things about the Jackson Hole symposium is the scheduling. We know when Powell will speak tomorrow but the rest of the schedule won't be released until 8 pm ET tonight, just as the event begins. I don't know why they can't...
Nasdaq Composite Technical Analysis – Watch this key resistance
The selloff that started at the beginning of August is starting to show signs of weakness. Although nothing changed fundamentally, the Nasdaq Composite started to rise as the market was just probably overstretched. This looks more like a pullback as the miss in...
ForexLive European FX news wrap: Dollar steady, equities higher led by tech after Nvidia
Headlines:Markets:USD leads, NZD lags on the dayEuropean equities higher; S&P 500 futures up 0.6%US 10-year yields up 1.6 bps to 4.213%Gold up 0.2% to $1,917.66WTI crude up 0.2% to $79.07Bitcoin down 0.3% to $26,509It was a quiet session for the most part but...
EURUSD Technical Analysis – Approaching key levels
US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to...
Aussie finds it tough to build on recent bounce
AUD/USD daily chartIt is a bit of a head scratcher considering the more positive mood in equities so far today. The only thing I can point to is lower commodity prices in which we are seeing iron ore prices fall slightly after the recent rally. That said, I reckon...
UK August retailing reported sales -44 vs -25 prior
This is not a good look as UK retail sales is seen falling in August at its quickest pace since March 2021. Adding to the misery is that retail stores continue to see a tough time in the month ahead, with the expectations reading still deeply negative at -21 (although...
Gold Technical Analysis – Pullback or the start of a trend?
The rise in US real yields coupled with a strong US Dollar have been weighing on Gold and we saw the yellow metal breaking the June low threatening a selloff towards the 1805 level. This week we got some bad news first from the PBoC which cut rates by less than...
Stock Indices Rally as Nvidia Reports Stellar Results
Article by IG Senior Market Analyst Axel RudolphFTSE 100, CAC 40, Nasdaq 100 Analysis and ChartsFTSE 100 benefits from risk-on appetiteThe FTSE 100 is on track for a second day of gains as it follows Asian stock indices higher ahead of today’s start of the Jackson...
US data in focus later today
Typically, the weekly jobless claims numbers may not have too much of an impact on markets. But today might be a little different. We've just had a slew of bad economic data from the PMI figures yesterday and if there are any signs that the hit is starting to affect...
Mixed flows so far in European morning trade
It's a quieter and slower start to proceedings even with the more buoyed mood in equities. Not much has changed after the open with European indices still holding decent gains on the day with S&P 500 futures still up by 0.7% and Nasdaq futures up by 1.3%...
Prigozhin’s plane believed to be brought down by Russia’s FSB, says UK defense sources
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,...
Dow Jones Technical Analysis – Watch this resistance
The selloff that started at the beginning of August is starting to show signs of weakness. Although nothing changed fundamentally, the Dow Jones started to range as the market was just probably overstretched. This looks more like a consolidation before another drop as...
FBS Launches an FBS Global Roadshow to Foster Trading Communities Around the World
FBS, a leading global broker, commences an FBS Global Roadshow, as it will support a series of financial industry events in Africa, the Middle East, and Southeast Asia. This initiative aligns with the FBS's commitment to providing traders with the best financial...
How to Get the Best Rates for Your International Transactions
In our modern interconnected world, international transactions have seamlessly woven themselves into the fabric of both personal and business finances. It can be used to send money to a cherished family member overseas or procuring goods from suppliers across...
European indices open higher to kick start the day
Eurostoxx +0.9%Germany DAX +0.9%France CAC 40 +1.0%UK FTSE +0.7%Spain IBEX +0.8%Not to mention that the general equities mood remains more buoyed after Nvidia's earnings beat as well. That said, it is largely tech shares leading the charge today so that isn't a major...
Market Update – August 24 – NVDA posts stellar Q2 results; Stocks, Bonds, Metals rally on eve of Jackson Hole.
Let’s start with NVIDIA that after the close reported results of a stellar Q2 and topped analyst estimates both on Revenues ($13.51 billion vs $11.22 billion expected) and EPS ($2.70 vs $2.09). The company raised its forecast again and expects its Q3 revenues to...