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,...
Retail sales keep Bank of Canada on track to cut rates in June – CIBC
Canada retail sales ex autosCIBC sees Canadians growing more cautious about spending as mortgages come up for renewal at much higher rates.Retail sales fell 0.1% compared to +0.1% expected while sales excluding autos fell 0.3%. The rapid rise in Canada's population...
S&P and NASDAQ index up for the third day in a row
The S&P and NASDAQ and are working on their third day in around higher. The NASDAQ is leading the way with a gain close to 0.75% in early trading. The Dow Industrial Average is marginally lower. The small-cap Russell 2000 is trading near unchanged as rates rise.A...
Goldman Sachs: Tough for GBP/USD to break 1.23 without corresponding EUR/USD move
GBPUSD dailyGoldman Sachs analysts express skepticism about the GBP/USD's ability to break through the 1.23 level independently of significant movement in the EUR/USD. Recent positive economic data from Europe has added complexity to the currency dynamics, influencing...
USDCAD moves higher helped by fundamental data/technical bounce.
The Canada retail sales came in a bit weaker than expectations. Meanwhile, US durable goods orders showed strength. That combination helped to push up the USDCAD (higher USD/lower CAD). Earlier, a support swing area stalled the fall after yesterday's fall on the back...
Stocks rise following earnings data release. Investors shift focus to Meta!
Tesla stocks rose a whopping 13.00% after market close supporting the SNP500 and NASDAQ. Tesla earnings failed to achieve the expected earnings per share figure. However, the CEO has announced the company will accelerate its launch of more affordable cars prompting...
Kickstart your FX trading for April 24 with a technical look at EURUSD, USDJPY and GBPUSD
In the kickstart video, I take a second look at the three major currency pairs - the EURUSD, USDJPY and GBPUSD. For the EURUSD, it extends above its 38.2% retracement of the April trading range in the early hours of the Asian session, but could not sustain momentum...
Canadian dollar dips after weaker retail sales
Softer Canadian February and March retail sales numbers highlight the pain from higher interest rates that's slowly working its way through the economy. Statistics Canada reported sales down 0.1% in February and flat in March.USDCAD 10 minsThe market implies roughly a...
Canada February retail sales -0.1% vs +0.1% expected
Prior month -0.3%The February advance estimate was +0.1%Ex autos -0.3% vs 0.0% expectedPrior month ex auto +0.5% (revised to +0.4%)Ex auto and gas 0.0% vs +0.4% priorSales down in 5 of 9 subsectors led by fuel stationsAdvance March retail sales 0.0%The advance number...
US market advanced durable goods orders 2.6% versus 2.5% expected
Prior month 1.3% (revised). Revised even lower to 0.7%nondefense capital goods orders ex air 0.2% vs 0.2% expected. Prior nondefense capital goods orders ex-air 0.7% revised to 0.4%Ex transportation 0.2% versus 0.3% expected. Prior month revised to 0.1% from...
USD/JPY breaks 155
Here we go: USD/JPY has broken 155.00.After the quick break, it's retreated down to 154.85. Expect a round of volatility and there's always the chance of intervention. However I think the MOF is ultimately fighting a losing battle due to broad USD strength that's...
ForexLive European FX news wrap: Close but no cigar for USD/JPY
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,...
FBS Financial Market Analysts Forecast Gold Prices to Rise to $2,800
FBS, a leading global broker that has recently launched an upgraded FBS app, projects gold price surge to $2,800 per ounce by the close of 2024. FBS financial market analysts have identified the pivotal factors driving the bullish trend for gold and covered the...
US MBA mortgage applications w.e. 19 April -2.7% vs +3.3% 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,...
UK April CBI trends total orders -23 vs -16 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 futures trim gains in European morning trade
It was up around 0.4% in early morning trade in Europe, before the gradual retreat in the last few hours. Tech shares are still the main anchor though, with Nasdaq futures up 0.4%. But Dow futures have even turned flat on the session now. European stocks are not too...
For Japan, silence is golden – at least for now
We're approaching early evening in Tokyo and there hasn't been any meaningful verbal pushback by Japanese officials today. Typically, you'd see them come out in droves to try and pin USD/JPY back. But amid the silence today, perhaps they're hoping that the quietness...
Germany April Ifo business climate index 89.4 vs 88.8 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,...
Switzerland April UBS investor sentiment 17.6 vs 11.5 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,...
Market News – Stock markets strengthen as tech rally widens
Economic Indicators & Central Banks: The bulls are back in town for now. Wall Street climbed, led by tech and especially the Magnificent 7 — all cohorts rallied, even Tesla which broke a 7-session losing streak even as its earnings news was awaited. US: The...