ECB's Simkus via CNBC is saying:At least one more rate hike is required.Nothing new as ECBs Lagarde said a July hike was likely after the last meeting. The question going forward is if one hike is the "least", what might be the "most". That is the unknown.The EURUSD...
US stocks extend lower. NASDAQ leads the way lower.
The major US stock indices have skidded lower led by the NASDAQ index.Nasdaq skids lowerLooking at the hourly chart above, the move to the downside has seen the price of the Nasdaq index move below its rising 100-hour moving average (blue line in the chart above)....
U.S. Treasury to auction off a $42 billion of reopened 2 year notes at 1 PM ET
The U.S. Treasury will auction off a $42 billion of reopened to your notes at the top of the hour. The major component averages over the last 6 months show:Bid-to-Cover: 2.71xTail: -0.2bps Directs (a measure of domestic demand) 20.0%Indirect (a measure of domestic...
The USDJPY corrects lower today, but are the buyers winning? Not now.
The USDJPY has corrected lower in trading today after reaching the highest level since November 10 on Friday and extending above the 61.8% retracement on Thursday's trade at 142.492. That retracement level down to a swing level at 142.246 is now a bias-defining level...
European equity close: Eurostoxx lower for the sixth straight day
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,...
Germany’s economy is facing a perfect storm
If anything, it's amazing that Germany's economy is doing as well as it is.Today's IFO survey is a wakeup call on the state of the German economy. The business climate survey fell to 88.4 from 91.5, which was worse than expected.The German economy is already in a...
The USDCAD skims along support while resistance pushes from above. A break looms.
The USDCAD currency pair is currently engaged in a dynamic tug-of-war between buyers and sellers. A technical analysis reveals that today's activities have hovered precariously above the a key support level, determined by 50% of the upward swing from the low of...
MetaBlaze Announces $4M Crypto Presale Sellout, Gaming Partnerships, AI MetaChip NFT Drop
MetaBlaze, a pioneering Web 3 Gaming, and AI Company, is building momentum as they approach its upcoming Q3 launch. Between strategic partnerships with household Crypto Gaming brands, a sold-out presale, and a never-before-seen AI-Integrated NFT collection, the...
GBPUSD confined to narrow trading range
The GBPUSD today moved higher in the Asian session, and pounded against the 100/200 hour movie averages. There was a brief break in the early European session, that failed in the price moved lower into the morning London session. The low price for the day reached down...
Dallas Fed June manufacturing survey -23.2 vs -29.1 prior
Prior was -29.1Output -4.2 vs -1.3 priorNew orders -16.6 vs -16.1 priorPrices paid for raw materials +1.4 vs +13.8 priorPrices paid for finished goods -1.9 vs +0.4 priorCapex +0.3 vs -3.7 priorEmployment +2.2 vs +9.6 priorCompany outlook -10.7 vs -22.3 priorComments...
US stocks trade little changed
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 equities set for small decline at the open
S&P 500 futures are down 2 points to 4387 as the quarter winds down. Last week was the first decline in the Nasdaq following eight weeks of gains.Shares of Carnival are lower by 5% despite some upbeat comments on demand from the cruise liner. Shares of Tesla are...
Fed’s Williams: Restoring price stability is of ‘paramount importance’
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 inches above 200 hour MA in early US trading
The EURUSD had a lid on the upside in the Asian/early European session against its 200-hour moving average (green line on the chart below), and then was pressured lower in the European session helped by weaker German IFO data. However, the fall has seen a rebound in...
Canada May advance wholesale trade +3.5%
Advance manufacturing sales +0.8%That's a strong number on wholesale trade and was led by Motor vehicles and motor vehicle parts and accessories: +7.4% Machinery, equipment and supplies: +4.3% Miscellaneous goods: +12.5%It was a similar story with manufacturing sales...
Anything happen on the weekend?
You have to wonder how markets would have reacted as the drama was unfolding in Russia. There were times when it looked like anything was possible, including Prigozhin seizing nuclear bases.As it stands now, there appears to be some kind of ceasefire without a full...
The CHF is the strongest and the GBP is the weakest as the NA session begins
The strongest to weakest of the major currenciesThe CHF is the strongest and the GBP is the weakest as the NA session and the new trading week in North America begins. The USD is mostly lower with modest gains vs the GBP. The AUDUSD is unchanged. The USDCHF is the...
ForexLive European FX news wrap: Yields fall as risk remains cautious
Headlines:Markets:CHF leads, GBP lags on the dayEuropean equities mixed; S&P 500 futures down 0.1%US 10-year yields down 5.5 bps to 3.685%Gold up 0.5% to $1,931.72WTI crude up 0.3% to $69.39Bitcoin down 1.9% to $30,320It was a quiet session for the most part but...
German inflation to slow further in coming months – Bundesbank
German economy has bottomed outA slight growth in GDP is expected in Q2German industry continues to largely weather decline in demandIt's all about expectations. So, even if economic activity has been brighter in April and May, things seem to be running into the...
UK CBI June retailing reported sales -9 vs -10 prior
Retail sales volumes continued to decline in the year to June, even if the pace has slowed slightly. The expectations reading for the month ahead is for no change (0) at least. However, the continued decline in sales volumes speaks to the difficulty faced by retailers...