Nexo, a leading digital assets institution, today announced its major rebrand and platform redesign, marking its evolution from a crypto lending pioneer to the first comprehensive and compliant digital assets wealth platform. Unveiled on Bitcoin Whitepaper Day, this...
USD/JPY: Make or break at 151.30 – SocGen
Societe Generale highlights 151.30 as a crucial support for USD/JPY, as the pair’s recent gains suggest strong upward momentum. While signals of a pullback are beginning to appear, maintaining above 151.30 could extend USD/JPY’s targets to higher levels.Key...
European indices close lower. German DAX and France’s CAC down 1%
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 Chancellor Reeves: Tax increases in budget were necessary
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 break in the USDCAD failed. Reverses higher to 2024 high.
The price of USDCAD fell below its 100-hour moving average currently at 1.39028 (see earlier post). Last week, the price fell below that moving average line, but reversed back higher. The week before it fell below the 100-hour moving average but also failed on the...
Starmer spokesman: We do not comment on market movements
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,...
BMO now thinks Bank of England likely to hold rates unchanged next week
Our friends over at Newsquawk picked up a BMO note that argues that the Bank of England is more likely to hold rates unchanged in light of the UK budget and the reaction in bond markets."Considering the composition of the MPC, and the effect the budget measures will...
Break higher in the EURUSD fails…
Earlier today, the buyers in the EURUSD took the price outside the Red Box, that has informed the pair over the last 11 trading days. There has been support down at 1.07609, and resistance 1.08725. The break higher today took the price up to 1.08874 before rotating...
GBPUSD breaks lower. Falls below support at 1.2938 and tumbles to midpoint/swing area
The GBPUSD has moved below the 1.2938 level. That level corresponded with a number of swing lows and highs going back to mid-July (see red numbered circles on the chart below). See earlier video HERE at 4:15 mark. Last week the price fell below that level as well, but...
Gold prices fall more than $50
Has the market finally remembered that an election is coming?'Sell everything' is the mantra today as market participants head for the sidelines in stocks, bonds and precious metals. Gold is getting hit hard today after a relentless rally for three months. It's down...
The first look at Q4 from the Atlanta Fed’s GDPNow model is 2.7%
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,...
Why you shouldn’t trade based on political polls
Politico is out with a new poll and it once again show a very tight race that comes down to Pennsylvania, which is near deadlocked.Pennsylvania: Harris 48%; Trump 47%Michigan: Harris 49%; Trump 45%North Carolina: Trump 47%; Harris 45%New Hampshire: Harris 50%; Trump...
NASDAQ index down over -2.0%.
The NASDAQ index is now down -2.6%. The current prices trading at 182 and a .90-389 points or -2.09%. The low price reached 18214.84.In 2024, there have been 11-days where the price fell over 2.0%. The worst decline was a -3.64% decline back on July 24. On August 5...
The USDCAD dips below 100 hour MA. Seller have a win. Yipped. Can they keep control?
The USDCAD has dipped below the 100 hour MA at 1.3900. Last week, the price dipped below the MA but failed after finding support at a swing level, and bounced.This is another try that gives the sellers a win, IF the sellers can continue the momentum going. If so, the...
UK bond blow up: A preview of things to come in the US?
The pound has finally cracked.It was able to ignore the run up in gilt yields for a time but we may have hit some kind of breaking point now. UK 10s are up 16 bps to 4.51%, which is the highest since Nov 2023.The pound didn't care until it did...in the past few...
S&P 500 breaks last week’s low
SPX dailyThere is a bit of a 'sell everything' mode underway and the S&P 500 is down more than 1% now and has broken last week's low. The bond market isn't helping as UK gilt yields are now up 15 bps in what could be a preview of what's to come for Treasuries if...
Tony Vejseli, Figure Markets and GXD Labs Address Recent Developments
Tony Vejseli, Figure Markets Holdings Inc., and GXD Labs, LLC (collectively “the Group”) today issued a statement to address recent developments following a meeting held on October 28 at White & Case’s Midtown Manhattan offices, where the Group met with the board...
Tech downturn: Microsoft plummets as financials gain
Stock heatmap by FinViz.com Thu, 31 Oct 2024 13:46:10 GMT🌐 Tech Sector Takes a HitThe tech sector is seeing significant declines today, primarily driven by a notable drop in Microsoft (MSFT), which has fallen by 4.69%. Other tech giants such as Oracle (ORCL) and Adobe...
UK gilt yields rise to the highest since 2023
Gilt yieldsMemories of the downfall of Liz Truss are being resurrected as the UK bond market recoils after Labour's first budget in 15 years.UK 10-year gilt yields are up 12 bps to 4.47%, which is the highest since November 2023. It was a spike earlier in 2023 to...
US stock futures point to a spooky open
Happy Halloween.Unless you're long stocks, particularly tech stocks that reported yesterday. Shares of Meta are down 1.5% and Microsoft nearly 4% after reporting late yesterday.The market is also rattled by Super Micro, which is down another 5% yesterday after its...