USDJPY dailyThere hasn't been a clear catalyst for the turnaround in risk sentiment in the past two hours but it's real and widespread. The S&P 500 just touched a record high and Treasury yields are inching up.The FX market is also validating the move with risk...
European equity close: Strong bounce with the DAX leading the way
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EURUSD extends to a new low and stretches toward the 100 day MA
The EURUSD has moved to a new session low, and in the process, the pair moved to a new low going back to August 13 and through the 61.8% of the move up from the August 1 low at 1.0944, and a swing area between 1.09419 to 1.0949. The low reached 1.09388.However, what...
S&P 500 rises to intraday record
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Milton downgraded to Cat-4 hurricane, still expected to land as major hurricane
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,...
BofA: 4 reasons why we expect the ECB will cut rates much further than the consensus
BofA believes the ECB will cut rates more aggressively than currently priced in by the market, citing four key reasons for this outlook.Key Points:Economic Stimulus Needs:There are reasonable scenarios where the Euro Area economy may require additional stimulus,...
Sellers in the AUDUSD are looking to increase the bearish bias. What does that look like?
The AUDUSD is moving lower after testing a key resistance area between 0.67429 and 0.6760. Sellers leaned against the high of that swing area and pushed prices back to the downside.On the downside, earlier this week the price found support buyers against the 38.2%...
EIA weekly oil inventories +5810K vs +2048K expected
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USDCAD buyers making a play with a break above and away from 100 day moving average
The USDCAD extended above its 100-day moving average yesterday, but by the end of the day was trading back below that he moving average level at 1.36513. In the early Asian session, traders took the price even a lower and back below the high price from September at...
Biden and Netanyahu will speak by phone at 10:30 pm ET
Israeli PM NetanyahuBibi will speak with Biden at 10:30 pm ET. That's an odd time to schedule a call, given that it will be 5:30 am in Tel Aviv. Does that late time hint at something happening today?Netanhayu delivered an ominous speech yesterday, saying “You have an...
US August wholesale sales -0.1% vs +0.5% expected
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China teases further stimulus but we will have to wait for the weekend
As I outlined yesterday, China hasn't done enough to crank up its real economy and that's led to some heavy selling in Chinese equities. The question is: Will more fiscal stimulus come?The answer might come Saturday.Chinese Finance Minister Lan Fo'an is set to hold a...
Tech takes center stage: Nvidia surges while ExxonMobil retreats
Stock heatmap by FinViz.com Wed, 09 Oct 2024 13:46:09 GMT📈 Technology Sector: Leading the ChargeThe technology sector is standing out today, driven by significant gains in semiconductor stocks. Nvidia (NVDA) is up 1.01%, underscoring investor confidence in the sector....
Now that the USDCHF has broken higher, can the buyers keep the run going?Key targets ahead
The USDCHF broke higher after the stronger than expected US jobs report on Friday. The break took the price above the high of the "Red Box" that had confined the pair going back to August 20. On Monday and into yesterday, the price rotated back to the downside and in...
Fed’s Logan: A ‘more gradual’ path on rate cuts likely appropriate from here
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The kickstart video for Oct 9 looks at the technicals that drive the three major FX pairs
IN the kickstart video above for October 9, I take a look at three the major currency pairs, the EURUSD, USDJPY and GBPUSD. As a bonus today, I also take a technical look at the NZDUSD after the Reserve Bank of New Zealand cut rates by 50 basis points.EURUSD: The...
ECB’s Makhlouf: Servies inflation and wage growth present some uncertainty
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Hurricane Milton tracks to the south of forecasts
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Fed minutes and Fedspeak highlight the economic calendar
AI imageIt's mid-week and eyes remain on China as it sorts itself out following the holiday ramp. Shanghai shares fell 6.6% but officials teased a weekend announcement: Chinese Finance Minister Lan Fo'an is set to hold a press conference on Saturday at 10 am local...
Germany’s economy ministry now sees contracting economy in 2024
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,...