Crude oil is currently trading at $82.47.Technically, that puts the price within the swing area ceiling between $82.43 and $83.44 (see yellow area and read number circles on the chart above). The high price today reached $83.30. The high price on Friday reached...
Canada was on holiday on Monday but that did not stop the USDCAD from reaching a key level
Canada was on holiday on Monday, but that did not stop the pair from moving up to test its 100-day moving average. The level came in at 1.3398 and the high price for the day reached up to 1.3398. Willing sellers against the technical level put a lid on the pair and...
A forex quick look at the EURUSD, USDJPY, GBPUSD and AUDUSD to start the Asian session
The technicals for the EURUSD , USDJPY and GBPUSD have similar-looking charts in the short term. The price of each are off lows from last week, and above at least the 100-hour MA. The GBPUSD and USDJPY are trading between their 100 and 200-hour MAs. On the topside,...
Forexlive Americas FX news wrap: Dollar steady, equities ignore rising yields
Markets:Gold down $6 to $1953US 10-year yields up 3.1 bps to 4.09%WTI crude oil down 35 cents to $82.47S&P 500 up 43 points to 4540GBP leads, JPY lagsThere wasn't much for the market to digest on Monday in North American trading. The dollar came into the session...
What is on the economic calendar in the Asian session
A few more economic releases expected in the new trading day in Asian. At 7:01pm ET, the UK's BRC Retail Sales Monitor is forecast to come in at a year-on-year (y/y) increase of 3.0%, down from the previous 4.2%.At 7:30pm ET, Japan's Average Cash Earnings for June are...
Buy the dip for the win: US equities close at the highs of the day
Closing changes for the main US equity indexes:S&P 500 +0.9%Nasdaq Comp +0.5%DJIA +1.2%Russell 2000 flatToronto TSX Comp (closed for holiday)Apple shares were a drag on the main market indexes early and they fell to flat on the day but buy-the-dip won again,...
Trade ideas thread – Tuesday, 7 August 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,...
The pillars of Germany’s economy are crumbling. Three reasons for worry
I'm struggling to see a way forward for the German economy.Today's data showed German industrial production falling 1.5% in June. That was worse than the 0.5% decline expected and continues a series of soft readings for factories. Production is now down 1.8%...
Tuesday’s US economic calendar features trade data
Advanced goods trade balanceThe solid day for risk assets continues in the market despite rising Treasury yields and a steady dollar. The S&P 500 is up 32 pints to 4511 in a nice rebound from last week's selling.Looking ahead, the whole week hinges on Thursday's...
US shelter inflation is likely to slow significantly over the next 18 months — SF Fed
Market participants have come to recognize the profoundly laggy measurements of shelter inflation in CPI and have been trying to look through them. That's a big reason why market-implied inflation is back on target in 2024.Fed officials have also acknowledged the lags...
BOE’s Pill: There are risks on both sides of UK inflation
Risk inflation may fall below target in yearsThere are also risks the UK hasn't raised rates enoughFood inflation is longer-lasting than past spikesFood price inflation will fall to 10% this yearHe isn't offering much here but there isn't the kind of rhetoric that...
USD/JPY climbs as Treasury yields begin to climb higher
USD/JPY is at the highs of the day, up 72 pips to 142.47.The climb comes with a worrisome rise in long-dated Treasury yields. US 30s are now up 4.6 bps on the day to 4.25%. They fell to 4.22% earlier and that prompted some risk appetite but they have begun to rise...
European equity close: Small changes so far 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,...
US home prices hit all-time highs
Black Knight today reported that June US house prices rose 0.67% in the month after a 0.80% rise in May. They say the trend points to a 2% y/y price increase in July, if not higher."At the national level, home prices have now fully erased their 2022 corrections...
Crypto Mine rBros Celebrates 5 Years of Building the Future in the Crypto Mining Community
Founded in August 2018 and headquartered in Hong Kong, Crypto Miner Bros has become one of the leading crypto mining hardware distributors within five years of its launch. With a dedicated team of blockchain experts, e-commerce specialists, and crypto mining...
iFX EXPO International 2023 in Cyprus – What You Need to Know
Anticipation is quickly building for the largest financial B2B exhibition of the year, iFX EXPO International in Limassol, Cyprus. Held on September 19-21, all eyes will be on the show’s newest prestigious venue, the City of Dreams Mediterranean Integrated Resort. The...
AAPL stock continues to fall. Here’s a level to watch
In a bull market, share prices go up like an escalator and correct like an elevator. That's exactly what we're seeing in AAPL stock after a poorly-received earnings report on Friday.Apple shares are down 1.7% today and weighing on broad sentiment on a continuation of...
US July employment trends 115.45 vs 114.31 prior
Prior was 114.31 (revised to 113.56)“The ETI ticked up in July after two months of decline, signaling continued job growth in the coming months," said Selcuk Eren, Senior Economist at The Conference Board. “The Index peaked in March 2022 and has been on a slow...
S&P 500 posts a solid open
The S&P 500 is trading 0.6% shortly after the open.Warren Buffett is offering some help with shares of Berkshire Hathaway up 1% following earnings. Greg earlier reported the details of the quarter, which included its best ever operating profit.Of the 84% of...
PayPal launches stablecoin
PayPal USD has launched a stablecoin PYUSD. The coin is is issued by Paxos Trust Co and fully backed by US dollar deposits, short-term Treasuries and similar cash equivalents, the San Jose, California-based payments company said on Monday. It’s pegged to the dollar...