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 does not believe Israel has decided on response, including on whether to hit oil
The leadership of Israel is being pushed and pulled in both directions. As the FT report highlighted, the US might not feel it has control of Netanyahu. For what it's worth, former Trump advisor and uberhawk John Bolton is out saying he thinks Israel will hit...
US believes Israel response on Iran will be measured enough to avoid escalation
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 EURUSD has nearly retraced the run higher from September low
The EURUSD has been trending to the downside this wee. Recall from Monday trade, the high price extended above Friday's high but not Wednesday's high. It did move above the double top going back to August 23 and August 26 (see red numbered circles and topside yellow...
G7 statement: We unequivocally reiterate our commitment to security of Israel
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,...
September non-farm payrolls preview by the numbers: Beware the seasonal pattern
Consensus estimate +140K Estimate range +70K (Citi) to +220K (Jeffries)August was +142K Private consensus +125K versus +118K priorUnemployment rate consensus estimate 4.2% versus 4.2% priorPrior participation rate 62.7%Prior underemployment U6 7.9% Avg hourly earnings...
US crude oil futures settled at $73.71
The price of crude oil futures are settling at $73.71. That is up $3.61 or 5.15%. The high price reached $73.92. The low price today reached $70.56.Looking at the daily chart above, the price is trading at the highest level since September 3, and above the 38.2%...
EURCHF stuck in its own up and down trading range
While the USDCHF pushes the topside of the "Red Box" today that has confined the pair going back to August 20, the EURCHF is mired within its own confined range.Apart for a time period between April 10 and April 11, the price of the EURCHF has been confined to a range...
Gold consolidating recent gains near highs
Gold has been consolidating in up and down trading this week. The high price was reached on Tuesday at $2673.14. That was just above the all-time high close was reached last Thursday at $2672.03. The low price this week was reached on Monday at $2624.82. The current...
Israeli media & Sky New Arabia is repeating that an Israeli response will be within days
The US did not urge Israel to not retaliate like they did no April. but the US did say that they did not condone a strike of Iranian nuclear facilities as a caveat.Meanwhile Isreal is continuing their assault in Beirut, Lebanon and targetting Hezbollah strongholds and...
Fed’s Goolsbee: Retailers stockpiled ahead of the dockworker strike
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 net hiring remains negative, signaling continued labor market softness
Eyes are on the US jobs market as the Fed tries to keep unemployment from rising above 4.4%. Some highlights of the Challenger report:September job cuts up 53% y/y, but down slightly from AugustLayoffs 69% above pre-COVID average in September, improving from 81% in...
Oil price climbs to 6-week high, breaks key resistance levels
The price of crude oil has moved higher today and is breaking above a double top on the hourly chart as well as the 50% midpoint of the move down from the August 13 high. Those levels come in at $72.36 and $72.67 respectively. The break higher took the price up toward...
European equity close: Italy lags after windfall tax talk
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,...
OPEC Sept output fell 390k bpd on Libyan outages – survey
OPECReuters is out with its latest secondary sources survey of OPEC oil output and it has production down 290k barrels per day in the month to 26.14 mbpd.Libyan output was down 300k bpd with the remainder of the bloc producing an additional 10k bpd. The survey also...
MUFG: Revised BOE rate outlook and GBP implications
MUFG has revised its outlook for the Bank of England (BoE), now expecting back-to-back rate cuts before year-end. This adjustment reflects growing evidence of decelerating economic growth in the UK.Key Points:Recent sentiment indicators, including the GfK consumer...
The NZDUSD and the AUDUSD has moved lower,but are finding dip buyers near targeted support
In this video, I take a look at 2 of the commodity pairs from the Asia-Pacific area. Both the NZDUSD and the AUDUSD are trading lower today breaking support targets on the way, but each is also reaching support targets and finding some buyers against the levels. What...
Biden: US is discussing Israel striking Iran oil facilities
The President said the the US is discussing Israel striking Iran oil facilities, according to Bloomberg.There is some important nuance in this statement:Biden was asked if he would support the US supporting Israel striking Iran's oil facilities. Biden responded: We...
US factory orders for August -0.2% versus 0.0% 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 September ISM services 54.9 vs 51.7 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,...