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,...
Trade ideas thread – Wednesday, 11 December, insightful charts, technical analysis, ideas
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,...
EURUSD moves back up to test the 100 bar MA on the 4-hour chart
The EURUSD moved lower and below an upward sloping trend line in the process, but selling stalled and the price rose. The move up has returned to the lower of 3 moving averages starting with the 100-bar MA on the 4-hour chart at 1.0530200-hour MA at 1.05385100-hour mA...
Report blames BLS leadership for poorly-protected US economic data releases
Earlier this year, the BLS reported that a subset of files were released prior to the April CPI report, leading to a premature move in the Treasury market. Previously, a BLS economys shared undisclosed technical calculations with some 'super-user' economists, also...
Preview: What to expect from Wednesday’s US CPI report
US CPI y/yIs the Federal Reserve stalling in its battle against inflation?That's the question the market will be mulling on Wednesday at 8:30 am ET as November inflation numbers are released in the CPI report. The headline inflation number is expected to tick up to...
Crude oil settles and $68.59
Crude oil futures are settling at $68.59. That is up $0.22 or 0.32%. The high price for the day extended to $69.02. The low price was at $67.74. Looking at the hourly chart, the price tried to stay below its 100-hour moving average (blue line on the chart below), but...
Morgan Stanley says the dollar trade is crowded and it’s time to sell
The US dollar has been a strong performer this year and it's tough to bet against it going forward given the setup for US economic outperformance. That said, it's clearly a crowded trade and Morgan Stanley's David Adams thinks it's too crowded.“Based on our...
The US treasury auctions off $58B of 3-year notes at a high yield of 4.117%
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 US treasury to auction $58B of 3-year notes at the top of the hour.
The US treasury will auction off $58B of 3-year notes at the top of the hour. The auction is the first of three this week. The treasury will auction 10 year notes (well 9 year and 11 month) tomorrow and 30 year bonds on Thursday. After trading above 4.20% for most of...
Bitcoin sellers lean against the 200 hour MA.GIves the sellers the go-ahead to push lower.
The price of bitcoin is trading lower with the price now down around -2.7% to $94,700.The low price has reached $94,578.The move lower was foreshadowed by the break and inability to extend back above the broken 200-hour MA at $98244. Buyers turned to sellers.What...
The USDJPY buyers have taken the price above the 200 day MA. Buyers making a play.
The USD/JPY rebounded from an earlier dip in the Asian Pacific session, hitting new weekly highs and testing the 38.2% retracement level at 151.736 in the London morning session. Sellers stalled the pair near that MA coming into the US session with the price trading...
EIA forecasts global oil production will rise 1.6m bpd in 2025
The EIA is out with the latest STEO.We expect the Brent crude oil spot price will remain close to its current level in 2025, averaging $74 per barrel for the yearThey see the oil market as 'relatively balanced'US production seen at 13.52 mbpd vs 13.53 mbpd prior (vs...
European equity close: UK FTSE struggles
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: What we expect from the November US CPI report
Goldman Sachs forecasts moderate gains in both headline and core US CPI for November, driven by rising used car prices, airfares, and energy costs. The firm expects the core CPI to rise by 0.28% MoM (vs. 0.3% consensus), translating to a 3.27% YoY increase. Headline...
AUDUSD moves to new lows and below the low from Friday’s trading
The Reserve Bank of Australia announced no change in interest rates as per expectations, but it was considered a more dovish decision. As a result, the price of the AUDUSD moved lower and back toward the lows from Friday's trading. US yields moving higher has kick...
Xi says China will continue to be the biggest enging of world economic growth
This isn't a market moving comment but it advances the debate around what sort of stimulus is coming from China this week.I think the overall negative sentiment around China -- particularly in the long term -- is way overdone. Yes, the stock market is weak but a good...
Some optimism for an Israel-Hamas deal
Barak Ravid from Axios reports on a meeting between Israeli and Egyptian intelligence officials but also notes:"Until recently, the thinking in Israel was that Hamas doesn’t want a deal - now it seems that there is a shift and that Hamas may have changed its mind....
Australian dollar touches four-month low as the China pop fades and RBA shifts dovishly
AUDUSD dailyThe Australian dollar is at the lows of the day, down 67 pips to 0.6370.The drop erases a strong gain yesterday that came on optimism about China stimulus. However the Chinese market slumped today on pessimism that Beijing will actually deliver stronger...
Gold climbs for the second day after China’s central bank resumes purchases
Gold dailyGold is up $30 today to build on a similar-sized gain yesterday.Both gains come on the heels of the People's Bank of China resuming gold purchases in November for the first time in six months. China is looking to diversify reserves into gold and away from US...
Buyers have the USDCAD at the highest levels since 2020 ahead of the BOC rate decision
The USDCAD is moving higher and trading at the highest level for the year,and going back to 2020. The buyers are in firm control and that comes ahead of the BOC meeting and interest rate decision scheduled for 9:45 AM ET tomorrow. The BOC is expected to cut rates by...