The NASDAQ index is on a 7 week winning streak. The S&P index is up four consecutive weeks. Each of those indices is trading higher at the U.S. open. The gains are led by the NASDAQ index.A snapshot of the market currently shows:Dow industrial average is up 78.11...
USDJPY trades a little up in a little down so far today. Waiting for the next shove.
USDJPY trades in a narrow trading range today (and recently)The USDJPY is mired in a 58 PIP trading range so far today to start the new trading week. That is much less than the 117 PIP average of the last 22 trading days. So a slow start for the current trading week...
EURUSD higher but work to do for the buyers to increase the bullish bias
EURUSD is higher but has work to do to take more controlThe EURUSD moved lower in the early Asian session but found support buyers willing to lean early against its rising 100 hour moving average (blue line currently at 1.07311). The subsequent move to the upside...
WTI crude falls $2. Is this Goldman Sach’s doing?
If you look around markets today, you wouldn't expect to see a $2 fall in oil prices. Stock futures are up 0.3% and the Australian dollar is leading the way in light FX trading.Yet WTI crude is struggling, down $2 and within striking range of last week's lows.What's...
Barron’s puts a hex on the market
I wrote about the rapid shift in investor sentiment last week and now Barron's is out with a bullish cover. That's the kind of thing that makes me wonder if we're about to top out.In addition, a big part of last week's rally in stocks was short covering, which was...
The AUD is the strongest and the CHF is the weakest as the North American session begins
The strongest to the weakest of the major currenciesAs the U.S. markets gear up for the new trading week, the AUD is the strongest of the major currencies while the CHF is the weakest. The USD is trading mixed/to lower to start the trading week. The week will be...
ForexLive European FX news wrap: Dollar marginally lower as markets gear up for big week
Headlines:Markets:AUD leads, GBP lags on the dayEuropean equities slightly higher; S&P 500 futures up 0.3%US 10-year yields up 0.8 bps to 3.753%Gold up 0.1% to $1,962.44WTI crude down 2.4% to $68.50Bitcoin down 1.9% to $25,953It was a quiet session as markets get...
Bitcoin remains in a downtrend
Market pictureAccording to CoinMarketCap, the total capitalisation of the crypto market fell 7.6% over the week to $1.06 trillion, close to lows not seen since almost mid-March. Adding to the market's nervousness was a sharp sell-off in altcoins in light of the SEC's...
USD/CAD takes a look below key trendline support to start the week
USD/CAD daily chartThe pair has heavily respected the key trendline support (white line) from the November and early February lows over the past few months. But sellers are looking to make a play now in pushing below that as we get into what will be a blockbuster week...
Gold at a tricky junction
After touching the $2075 area for the third time since 2020, Gold started to correct and currently trades at $1960, a 5.70% drop from the highs. In the past 2 weeks, support in the $1940 area has held but rebounds have been capped around the $1975 area. The highly...
Betting Against the Odds: Understanding the Unpredictability of Federal Reserve Rate Hikes
Complacency Could Spell Danger. But Also OPPORTUNITY.The Unpredictability of the Federal ReserveThe world of finance is fraught with surprises, and a significant source of these surprises often emanates from the U.S. Federal Reserve. Its decision-making process,...
AUD/USD marches on towards April, May highs
AUD/USD daily chartAUD/USD is up another 0.5% today with the dollar slipping a little in European trading at the moment. If the gains hold, it will mark 8 out of the last 9 days that the pair has posted an advance. That's a solid run on the part of buyers, that sees...
Market Outlook for the Week of 12-16 June
We have a busy week ahead with several key economic events and announcements from central banks.On Tuesday, in the United States the focus will be on the release of the CPI data. In the United Kingdom, BoE Governor Andrew Bailey will address the House of Lords...
Weekly Market Outlook (12-16 June)
UPCOMING EVENTS:Tuesday: UK Jobs, US CPI.Wednesday: US PPI, FOMC Policy Announcement. Thursday: PBOC MLF, ECB Policy Announcement, US Retail Sales, US Jobless Claims.Friday: BoJ Policy Announcement, University of Michigan Consumer Sentiment.Tuesday: The UK...
Equities creep higher to start the session
S&P 500 futures are now up 16 points, or 0.4%, on the day as equities are pushing gains a little to start European morning trade. Regional indices are also gaining added ground after the more positive open, with the DAX now up 1.0% and CAC 40 up 0.8% on the...
SNB total sight deposits w.e. 9 June CHF 509.8 bn vs CHF 519.0 bn prior
Domestic sight deposits CHF 498.3 bn vs CHF 504.5 bn priorThat's the lowest level in Swiss sight deposits since July 2016 as conditions have reverted back to how it was before the whole Credit Suisse fiasco. Here's the look over the past three months:MoneyMaker FX EA...
FX option expiries for 12 June 10am New York cut
There might not be any significant expiries for today but it is a big week and there will be some major ones on the board to be wary of in the days ahead.In particular, keep an eye out for the ones in EUR/USD, especially on Friday, with there being a host of large...
European equities kick start the day on more positive footing
Eurostoxx +0.5%Germany DAX +0.6%France CAC 40 +0.6%UK FTSE +0.3%Spain IBEX +0.5%This follows from the marginal gains by Wall Street at the end of last week, and also a slightly more optimistic start this week - at least for tech stocks. S&P 500 futures are up 0.2%...
BOE’s Haskel: Further rate hikes cannot be ruled out
Important that we lean against the risks of inflation momentumMonitoring indicators of inflation momentum and persistence closelyThe BOE will be meeting next week and currently, a 25 bps rate hike is roughly 83% priced in according to the OIS market.MoneyMaker FX EA...
Plus500 Enhances its OTC Trading Platform with Addition of BAIGUI
Plus500 (LON:PLUS), the leading global multi-asset fintech group, recently added the BITA Artificial Intelligence US Giants Index (BAIGUI) to its array of financial instruments available to customers. Expanding Plus500’s spectrum of sector indices, BAIGUI enhances the...