At the start of the year I laid out a scenario where the North American economy would start the year with surprising resilience but then there would be divergence between the United States and Canada because of the differing mortgage markets.To recap: In the US, 90%...
USDJPY extends to new highs and above 145.00 for the first time since November 2011
The USDJPY is trading higher, and above the 145.00 level. That took the price above the 2022 high at 145.07 and to the highest level since November 2022. The price is also in the middle of a swing area on the daily chart between 144.984 and 145.900. The close risk now...
US dollar drifts higher ahead of a light North American calendar
It's something of a three-day trading week in North America with nothing notable on the economic calendar today or on Friday. That's contrasted by a busy day tomorrow with US retail sales and Canadian CPI.The lone item of note today is the BOC senior loan officer...
The GBP is the strongest and the JPY is the weakest as the NA session begins
The strongest to the weakest of the major currenciesThe GBP is the strongest and the JPY is the weakest as the NA session begins. The major currencies are all scrunched together.Chinese real estate giant, Country Garden, has halted trading in over ten of its onshore...
ForexLive European FX news wrap: Currencies muted as markets settle down after China woes
Headlines:Markets:USD mixed, little changedS&P 500 futures up 0.2%US 10-year yields down 1.8 bps to 4.150%Gold flat at $1,913.42WTI crude down 0.4% to $82.87Bitcoin down 0.1% to $29,359The session started off with more of a defensive risk mood, after the equities...
Nasdaq Composite Technical Analysis – Watch this key level
Last week, the US CPI came basically in line with expectations, but the good news is that the Core M/M reading once again printed at 0.2% or 0.16% unrounded. The not so good news is that the US Initial Claims spiked higher coming at 248K vs. 230K expected, but...
All quiet so far after the equities pop
After the opening hour in European trading, equities caught a bit of a pop higher. Since then, it has been relatively quiet with stocks just holding slightly higher while major currencies are doing a whole lot of nothing on the session. Dollar pairs are still sitting...
Gold Technical Analysis – Reversal signs are emerging
Last week, the US CPI came basically in line with expectations, but the good news is that the Core M/M reading once again printed at 0.2% or 0.16% unrounded. The not so good news is that the US Initial Claims spiked higher coming at 248K vs. 230K expected, but...
Decoding the PPI Report: Unveiling Insights into Inflation Trends
The Producer Price Index (PPI) has once again taken the center stage as a pivotal economic indicator, providing a glimpse into the complex dynamics of inflation. With its finger on the pulse of wholesale price movements, the PPI stands as a harbinger of potential...
Dollar trades little changed on the day now
We were poised for a bit more of a risk-off mood to start European morning trade but a sudden recovery in stocks is changing that picture now on the session. As seen here, there was a sharp rebound in equities with US futures turning around as tech shares jump up. The...
German economy ministry: Early indicators don’t yet point to sustainable economic recovery
Sees reduced dynamic in labour market in the coming monthsContinues to see no growth impulse in foreign tradeCurrent early indicators do not yet point to a sustainable economic recovery in the coming monthsI don't think this is much of a surprise as Germany is now the...
Synesis One Launches the First NLP AI data Crowdsourcing Application on Solana Mainnet
Synesis One, the world’s first AI data crowdsourcing platform on the Solana Blockchain, announced today the launch of its new Train2Earn App ‘Workspace by Synesis’ on iOS, Android, Saga, and web browsers. The App allows anyone, anywhere in the world to train AI and...
Market Outlook for the Week of 14 – 18 August
The previous week saw a decrease in the U.S. CPI, indicating the effectiveness of the Federal Reserve's monetary strategy. However, a concern among analysts is that next month's data print might see a rise due to increases in energy costs. Looking ahead to monetary...
Dow Jones Technical Analysis – Awaiting the breakout of the range
Last week, the US CPI came basically in line with expectations, but the good news is that the Core M/M reading once again printed at 0.2% or 0.16% unrounded. The not so good news is that the US Initial Claims spiked higher coming at 248K vs. 230K expected, but...
Stocks recover some poise on the session
S&P 500 futuresI'm looking out for any headlines to have caused the turn here but I can't really pinpoint any specific ones. The turn is coming as general equities sentiment is switching around, with tech stocks now leading the way. Nasdaq futures in particular is...
EUR/USD Eyes Short-Term Retracement as DXY Runs Into Confluence Area
EUR/USD PRICE FORECAST: Recommended by Zain Vawda Get Your Free EUR Forecast Get My Guide READ MORE: US Dollar Forecast: Dollar Index Rally Continues with Fundamental and Technical Challenges AheadEUR/USD has continued to trickle lower this morning, but a short-term...
SNB total sight deposits w.e. 11 August CHF 484.8 bn vs CHF 492.9 bn prior
> SNB total sight deposits w.e. 11 August CHF 484.8 bn vs CHF 492.9 bn prior Latest data released by the SNB - 14 August 2023 <!--> Justin Low Monday, 14/08/2023 | 08:00 GMT-0 14/08/2023 | 08:00 GMT-0 --> <!--> Domestic sight deposits CHF 474.7 bn vs...
S&P 500 Technical Analysis – The bullish trend is still intact
Last week, the US CPI came basically in line with expectations, but the good news is that the Core M/M reading once again printed at 0.2% or 0.16% unrounded. The not so good news is that the US Initial Claims spiked higher coming at 248K vs. 230K expected, but...
Dollar has the recipe for the next leg higher
The technical stars are starting to align for the dollar and it's certainly going to make for an interesting week of trading. Things have been quiet as of late in the European session as summer time markets are prevailing but the days ahead could be a little...
Market Update – August 14- CNH, CHINA50 slide, JPY nears 2022’s intervention zone, PPI ticks up
Asia is in dire straits: CHINA50 and HK are down more than 2% as problems with developer Country Garden intensify and the stock is down almost -15% at its lows after suspending trading on 11 onshore bonds. Its issuance dated 01/2024 has fallen as low as 9 cents,...