While the stocks continue to push higher, the USD is more stuck.EURUSD: The EURUSD moved below the 100 hour MA (at 1.04473)and swing area (1.0448 to 1.0461) in the Asian session and remains below those levels. The next key target comes in at the 50% of the move down...
Nasdaq stretches gain to 2%
Nasdaq dailyThe dip buyers in the Nasdaq have been steadily accumulating since early in the trading day. Initially, the Nasdaq fell into negative territory at the open as Nvidia went red but the chipmaker is now up 7.7% and the index is now 2% higher. Apple and Meta...
A rate cut is 99% priced in for Wednesday’s Bank of Canada meeting. Bigger questions loom
If I was at the Bank of Canada here is what the statement on Wednesday would say:We're cutting rates by 25 basis points today and what we do next will depend on tariffs between now and our next decision on March 12 decision.There is nothing more to say than that. The...
White House Press Secretary says the Feb 1 date for tariffs on Canada and Mexico remains
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Don’t bet on an AI utopia
Anyone who is watching AI closely is worried about the future because it will bring massive disruption in the jobs market, particularly if AI unlocks robotic workers, which I believe it will.Now I'm normally an optimist but I'm having a hard time figuring out how this...
White House says it’s looking at national security implications of DeepSeek
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US treasury auctions offer 7-year notes at a high yield of 4.457%
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US treasury to auction off $44 billion of 7 year notes at the top of the hour
The US treasury will auction off $44 billion of 7-year notes at the top of the hour. The auction will complete the coupon issuances for the week ahead of the FOMC decision tomorrow at 2 PM. The FOMC is scheduled to keep rates unchanged after moving them lower by 100...
The US broader stock indices stretch to new highs
The broader stock indices have extended to new session highs and continue to retrace some of the declines seen yesterday.The S&P index fell -1.46% yesterday. It is currently up 47.06 points or 0.78% in trading today.The NASDAQ index tumble by -3.07% yesterday. It...
Bitcoin has rebounded sharply higher from the Monday low, but has run into MA resistance.
Bitcoin's price experienced a sharp decline on Sunday due to "risk-off" sentiment, pushing the digital currency lower. The price dropped to a low near $97,750, aligning closely with the upper boundary of a key support zone between $97,319 and $97,750 (highlighted in...
European equity close: Nice bounce-back day
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Atlanta Fed GDPNow Q4 forecast rises to 3.2% from 3.0%
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AUDUSD tilts the bias to the downside. Back below the 200 hour MA
The AUDUSD moved lower with the overall USD buying after the tariff talks from Pres. Trump and Treasury Secretary Bessent. The price decline in the early Asian session took the price away from the swing area between 0.62874 to 0.63016, below the 100-hour MA at 0.6283...
US stocks extend gains as Nvidia rebounds
Nasdaq into the gapCooler heads are having a re-think on DeepSeek today. That's helped Nvidia shares to bounce by 2.6%.The market also continues to be upbeat around the idea of certain winners related to cheaper AI as Apple rebounds and Amazon extends. There are also...
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Canada planning covid-style stimulus if US enacts tariffs in bid to avoid early election
The Globe & Mail reports that Canada's federal government is planning a covid-style relief effort if Trump imposes 25% tariffs. The moves would require a parliamentary vote so they're far from certain. All opposition parties have pledged to oust the government and...
US January consumer confidence 104.1 vs 105.6 expected
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Richmond Fed composite index for January -4 versus -13 estimate
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Tech sector shines: A deep dive into today’s market resilience
Stock heatmap by FinViz.com Tue, 28 Jan 2025 14:46:01 GMT📊 Technology Sector MomentumIn today’s stock market, the technology sector emerges as the star performer. Notably, semiconductor giants Nvidia (NVDA) and Broadcom (AVGO) lead the rally with impressive gains of...
Nvidia falls to unchanged as the bounce fades
NVDA 1 minNvidia was up by 5% at the pre-market highs but it wasn't able to open near the highs and has continued lower since the open. I expect that some of that is fallout from yesterday's blow up as it will take some time to balance out the market.Technically,...