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,...
EURUSD sets technical levels in the ups and downs after the US jobs report.
The EURUSD moved sharply higher after the US jobs report, and in the process extended above the 50% midpoint of the move down from the March high and also the 200-day moving average (at 1.0797 currently). The price did extend above those levels and the high of a swing...
AUDUSD runs higher after US jobs report but stalls at a key ceiling.What next technically?
The AUDUSD moved sharply higher after the US jobs report. The price rises took the pair above the 100 day MA at 0.6580, the 50% of the move down from the December high at 0.66159 and up to the a key swing area ceiling between 0.6335 and 0.6345. Sellers leaned against...
European equity close: A silver lining to a tough 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,...
USDCAD bounces back higher after sellers had their shot and missed after the softer jobs.
The USDCAD moved lower after the softer-than-expected US jobs report. That move to the downside stalled against an old ceiling area between 1.36049 and 1.36154. The price started to rebound back to the upside. The move back higher was able to extend back above the 50%...
Goldman Sachs still thinks a July rate cut is more likley
Goldman Sachs chief economist Jan Hatzius was on CNBC and said this:I'm pretty confident the wage trend is downIf we look at other indications like the Atlanta tracker, wage trend is downI do expect 'much better' PCE numbers in the second quarterA July cut is still a...
USDCHF falls to the April low/swing area and bounces. Resistance now eyed at 0.9070 now.
The USDCHF fell below the 200 bar moving average on the 4-hour chart near 0.9070, and tumbled down to the lope from April and a low swing area near 0.8997 and 0.9005. Buyers came in against that level and have since pushed the price back up toward the aforementioned...
Fed’s Goolsbee: Jobs reports like this will give us confidence the economy not overheating
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,...
Fed’s Goolsbee set to speak shortly
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,...
Japan fin min Suzuki: Rapid currency moves are undesirable as they would hurt households
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,...
Iraq and Kazakhstan pledge to make up for OPEC quota overproduction before year end
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,...
Japan FM Suzuki: Rapid currency moves are undesirable.USDJPY bounces off KEY support
Japan finance Minister Suzuki is on the wires saying:Forex levels should reflect economic fundamentalsif currency moves are excessive, we may need to smooth themDesirable for FX to move stably, eye FX volatility undesirableRapid currency moves are undesirable as they...
ISM April services index 49.4 vs 52.0 expected
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,...
Fed’s Bowman: Baseline outlook still that inflation will decline with rates steady
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,...
S&P Global final April services 51.3 vs 50.9 prelim
Prelim was 50.9Prior was 51.7Composite PMI 51.3 vs 50.9 prelimPrior composite PMI was 52.1Services PMI 51.3 vs 50.9 prelim. Last month the PMI was 51.7In their own words, Chris Williamson, business economists at S&P global market intelligence said:"Service sector...
US stocks open higher as jobs report gives traders the nudge
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,...
ISM services report still to come
The non-farm payrolls report is at the pinnacle of US economic data but employment is a lagging indicator. Businesses need to see months of softness before they pause hiring and even more before they begin layoffs.The best way to capture creeping softness in demand is...
S&P Global Canada April Services PMI 49.3 vs 46.4 in March
Canada services PMIBest reading since JuneEleventh month in a row below 50Prior was 46.4This survey doesn't get much attention from markets, partly owing to its short life.Paul Smith, Economics Director at S&P Global Market Intelligence, said: "Another fall in...
Kickstart the FX trading day (post NFP) with a technical look at EURUSD, USDJPY, GBPUSD.
The sellers of the USD ahead of the US jobs report were rewarded with a big move to the downside in the major currency pairs. The question now is what next?In this report outline the moves versus the major currency pairs versus the US dollar - the EURUSD, USDJPY and...
US equity futures jump as jobs growth cools
S&P 500 futures are up 57 points, or 1.1% ahead of the open while Nasdaq futures are up 1.5% and Russell 2000 futures up nearly 2%.The market is cheering a softer US jobs report that saw the unemployment rate tick higher to 3.9% from 3.8%. That led to broad...