Its the Jackson Hole for the European Central Bank ! The ECB's "Forum on Central Banking" kicked off with an introductory dinner on Monday, but the real work begins today, Tuesday, 27 June 2023. The forum is an annual event organised by the European Central Bank and...
US Yellen is planning a July trip to China. Meanwhile US admin preparing investment curbs.
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,...
Economic calendar in Asia 27 June 2023 – almost empty
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,...
Trade ideas thread – Tuesday, 27 June 2023
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,...
Closing changes: Nasdaq suffers a rare down day
Closing changes:S&P 500 -0.35%Nasdaq Comp -1.2%Russell 2000 +0.45%DJIA flatToronto TSX Comp +1.0%Goldman Sachs downgrade Tesla to neutral today and that kicked off some profit taking in shares of TSLA, which fell 6%. Other high-flying mega tech names also...
USDCHF moves toward converged MAs near 0.8958
USDCHF approaches 100/200 hour moving averagesThe USDCHF is moving to new US session highs (still down on the day), and in the process is moving closer to its falling 100 and 200 hour moving average is near 0.89585. The price is currently trading at 0.8955.Earlier...
Putin: The organizers of the rebellion must know they will be brought to justice
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,...
Krelim suggests that today’s statement from Putin will be transformative
Kremlin spokesman Peskov says that Putin's statement -- due tonight -- will "without exaggeration, will determine the fate of Russia". He told pool journalists that the whole day was devoted to preparing Putin's statement.I would imagine all the risks around this...
WTI crude oil settles at $69.37
WTI crude oil futures are settling at $69.37. That's up $0.21 or 0.30%. The high-priced theory reached $70.11. The low price extended to $68.71. Earlier in the Asia-Pacific session, prices moved higher following the brief Russian mutiny, but gains were capped as the...
AUDUSD has a modest “heartbeat” above and below the 50% midpoint
AUDUSD trades above and below the 50%If the price action in the AUDUSD was a heartbeat today, it would be in a hibernation state. The up and down range is only 27 pips. That is well short of the 70 pip average over the last 22-days (about a month of trading). Looking...
Putin to make a number of statements today
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,...
Cracks have appeared in the Japanese yield curve control dam
The Bank of Japan is playing one of the most-dangerous games in central banking history.The whole world is struggling with inflation and their currency is in the dumps, yet they continue to hammer the most-aggressive QE policy in history. The aim is to break a...
US treasury auctions $42B of two-year notes at a high yield of 4.67%
High-yield 4.67%WI level at the time of the auction 4.678%Bid-to-Cover 2.86X versus 6 month average of 2.71xTail -0.8 bps versus a 6 month average of -0.2bpsDirects (a measure of domestic demand) 18.2% versus 6 month average of 20.0%Indirect (a measure of domestic...
ECBs Simkus: At least one more rate hike required
ECB's Simkus via CNBC is saying:At least one more rate hike is required.Nothing new as ECBs Lagarde said a July hike was likely after the last meeting. The question going forward is if one hike is the "least", what might be the "most". That is the unknown.The EURUSD...
US stocks extend lower. NASDAQ leads the way lower.
The major US stock indices have skidded lower led by the NASDAQ index.Nasdaq skids lowerLooking at the hourly chart above, the move to the downside has seen the price of the Nasdaq index move below its rising 100-hour moving average (blue line in the chart above)....
U.S. Treasury to auction off a $42 billion of reopened 2 year notes at 1 PM ET
The U.S. Treasury will auction off a $42 billion of reopened to your notes at the top of the hour. The major component averages over the last 6 months show:Bid-to-Cover: 2.71xTail: -0.2bps Directs (a measure of domestic demand) 20.0%Indirect (a measure of domestic...
The USDJPY corrects lower today, but are the buyers winning? Not now.
The USDJPY has corrected lower in trading today after reaching the highest level since November 10 on Friday and extending above the 61.8% retracement on Thursday's trade at 142.492. That retracement level down to a swing level at 142.246 is now a bias-defining level...
European equity close: Eurostoxx lower for the sixth straight day
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,...
Germany’s economy is facing a perfect storm
If anything, it's amazing that Germany's economy is doing as well as it is.Today's IFO survey is a wakeup call on the state of the German economy. The business climate survey fell to 88.4 from 91.5, which was worse than expected.The German economy is already in a...
The USDCAD skims along support while resistance pushes from above. A break looms.
The USDCAD currency pair is currently engaged in a dynamic tug-of-war between buyers and sellers. A technical analysis reveals that today's activities have hovered precariously above the a key support level, determined by 50% of the upward swing from the low of...