In the kickstart video from earlier today, I highlighted the key levels in the GBPUSD. On the downside the 1.3265 was key support.Looking at the GBPUSD price action since then (see chart below), the low price for the day came in at 1.32676, just 2 pips short of the...
Fed’s Harker: The Fed has done a good job in navigating the economy
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,...
Baker Hughes US oil rig count: Unchanged at 488
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,...
Fed’s Bowman explains dissent. Says she would have preferred a smaller rate cut
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,...
Morgan Stanley: We expect a string Fed cuts through mid-2025; staying short USD/JPY
USDJPY dailyMorgan Stanley anticipates a series of 25bp cuts from the Federal Reserve through mid-2025 and recommends maintaining short positions on USD/JPY, targeting a move towards 138.Key Points:FOMC Rate Decision:The FOMC cut the federal funds rate by 50bp to...
AUDUSD dips to moving average support. What next technically?
The AUDUSD moved up and tested a swing level near 0.6823 in the Asian and European session. The price then moved lower as stocks fell in the early US trading. However, as the price of the AUDUSD approached its rising 100 hour moving average at 0.6778, the buyers have...
USDJPY rotating back to the downside after extension to a new high stalls
In the morning video, I spoke about the 50% midpoint of the move up from the January 2023 low at 144.581. The price has been trading above and below that level over the last 1-2 months, but the run higher this week has returned back to the level, and that gives...
Stocks bounce a little off of Waller’s initial comments
The US stocks are moving a little higher on the Fed Waller comments. The Nasdaq index moved to a low of 17835.64. That got close to filling the gap from yesterday's trading which had a gap down to 17832.70 (so got within 3 points of that level).The price has moved...
Fed’s Waller: We’re at a point where the economy is strong and we want to keep it that way
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,...
European equity close: The shine comes off
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,...
Goldman Sachs: BOE rate outlook post-September meeting
Goldman Sachs anticipates the Bank of England will implement a 25bp cut at the November meeting, following the recent decision to maintain the Bank Rate.Key Points:BoE Decision Details:The Monetary Policy Committee (MPC) voted 8-1 to keep the Bank Rate unchanged and...
The USDCAD tries to keep a short term negative bias below a cluster of moving averages
As the clock ticks toward the weekend, a look at the USDCAD with a look toward next week is important. This week, the price action got more volatile on Wednesday helped by the FOMC rate decision. The initial move was to the downside, but the 100-bar moving average on...
Credit Agricole: GBP emerges as a high-yielder post-BOE meeting
GBPUSD dailyFollowing the Bank of England's decision to maintain policy rates, Credit Agricole highlights the GBP's emerging status as a high-yield currency, supported by the potential for future easing.Key Points:BoE Decision and Forward Guidance:The BoE kept rates...
US stocks start to weaken
The US stocks have started to weaken with the broader S&P and NASDAQ indices now down around -0.45%. The Dow industrial average is down -0.35%.For the NASDAQ index it has moved back below the swing high price from August 22. Yesterday the price moved above that...
USDCHF continues its up and down trading within trading range
The USDCHF continues to trade within a narrow range, fluctuating between 0.8400 and 0.85368 since August 20 (a month ago now). The majority of price action has been contained within this range, with brief extremes on either side that quickly fizzled out. Key technical...
Eurozone September flash consumer confidence -12.9 vs -13.0 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,...
Tech resilience amidst semiconductor slump: Analyzing today’s market vibe
Stock heatmap by FinViz.com Fri, 20 Sep 2024 13:46:03 GMT📊 Sector Overview: Divergent Performances Across MarketsToday’s US stock market presents a mixed bag of performances across various sectors. While some giants show resilience, others endure noticeable declines,...
And they’re off…. US stocks go marginally backward at the start of trading…
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,...
Fed’s Waller set to appear on CNBC today
Fed's WallerFed Governor Chris Waller scheduled for an 11:30 a.m. ET appearance on CNBC. It will be the first set of Fed comments since the decision as the blackout lifts. He could start to frame how the FOMC will think about the November meeting.At the moment, the...
EURUSD watch 1.1184. USDJPY higher after BOJ.GBPUSD moves to highest high since March 2022
In the kickstart video for September 20, 2024, I take a look at three the major currency pairs - the EURUSD, USDJPY and GBPUSD - from a technical perspective.The EURUSD has traded up and down today but stayed below the 1.1184 – 1.11897 area. The 1.1184 level was...