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 March construction spending -0.2% versus +0.3% 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,...
US April ISM manufacturing 49.2 vs 50.0 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,...
US stocks are little changed in early US trading
US stocks 13 minutes into the open art showing mixed results (but little changed):Dow industrial average is up 14.54 points or 0.04% at 37830.47S&P index is down -10.65 points or -0.21% at 5025.05NASDAQ index is down -0.25 points at 15657.57.The small-cap Russell...
US April S&P Global final manufacturing PMI 50.0 vs 49.9 prelim
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 USDCHF broke yesterday to the upside. What keeps the buyers in control?
The USDCHF continued its run to the upside after the breakout yesterday. The pair moved even higher today and got closer to the next target near the 50% midpoint of the move down from the 2022 high, but has backed off in early US trading. What would keep the buyers in...
Canada April S&P Global manufacturing PMI 49.4 vs 49.8 prior
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,...
Kickstart the FX trading day for May 1 w/a technical look at the EURUSD, USDJPY and GBPUSD
As the US session gets underway, the USD is tilting a little to the downside despite stronger ADP jobs report. Of course, the FOMC rate decision and comments from Fed Chair Powell is the highlight for the day. That decision will take place at 2 PM ET with Fed chair's...
US dollar edges lower on a busy Fed day
The US dollar yesterday got wrapped up in the idea of a hawkish Fed but today it's given a smidge of that back as we count down to the FOMC at 2 pm ET.The euro has made some headway in the past few hours, rising to 1.0684 from a low of 1.0650. It's fared better than...
Quarterly refunding announcement: Will increase TIPS and bill auction sizes
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,...
Crude Oil is approaching the key $80 support zone
Crude Oil has been on a steady retreat as the Israel-Iran episode ended without a major escalation. The price is now approaching a key support zone around the $80 level where we can also find a long term trendline adding some extra confluence. This zone will be key as...
US April ADP employment +192K vs +175K expected
Prior was +184K (revised to 208K)Goods producing +47KService providing +145KThe median change in annual pay:Job stayers 5.0% versus 5.1% last monthJob changers 9.3% versus 10.1% last monthHiring was broad-based in April,” said Nela Richardson, chief economist, ADP....
ForexLive European FX news wrap: Currencies steady awaiting US data, Fed
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 MBA mortgage applications w.e. 26 April -2.3% vs -2.7% prior
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,...
Gold Technical Analysis – Chances of a big correction increase
The Israel retaliation really marked the top for Gold as the geopolitical risk faded and the market caught up with the rise in US real yields. The trend might be reversing and some key technical breaks are adding up to the chances of seeing a big correction to the...
What to look for in the US Session
The European Session is dull today as we have the Labour Day's Holiday. Things will get much more interesting in the US Session as we get some key US economic data and then we finish the day with the FOMC rate decision. Let's break down the upcoming data releases and...
Hawkish Fed or not? That will be the question
AI imageThe opinions are quite divided on what the Fed might communicate later today. Let's take a look at what the analysts are saying (h/t @ MNI - Market News).Barclays- First 25 bps cut only in September or December- "Powell to mention that recent data have not...
What could change the trend in USDJPY?
The Japanese MOF eventually intervened on Monday as the USDJPY exchanged rate crossed the 160.00 handle. The pair fell for 500 pips before bouncing on the 155.00 handle and some key levels as the bulls bought the dip. The problem here is that central bank intervention...
AUD/USD gives back half of the rebound from late April, what’s next?
If sellers wanted to send a message, they could've have made it clearer in trading yesterday. It was a case of a double whammy for the aussie. The Australia retail sales data was poor and when you combine that with poorer risk sentiment and a firmer dollar, it was...
USDCHF Technical Analysis – What do we need to maintain the bullish trend?
The US Q1 inflation data has been consistently surprising to the upside leading to a repricing in interest rates expectations with the market now fully pricing just one rate cut in 2024. On the other hand, the Switzerland inflation readings have been doing the...