The S&P index is trading near lows for the day at their -27.7 points or -0.47% have 5723.90. The low price has reached 5722.27.Looking at the hourly chart, the price is currently testing its 50 hour moving average at 5722.42 (black moving average line in the chart...
NZDUSD moved into a cluster of technical levels ahead of the RBNZ rate decision
The NZDUSD has been moving steadily to the downside after peaking at the start of last week near 0.63778. The low price today has reached 0.6116 so far - 262 pips in a relatively short period of time. In doing so the price has started to extend into a cluster of...
Brent crude oil rises above $80 as Middle East war fears intensify
The reports are continuing of an 'imminent' Israel attack on Iran and no one is willing to fade oil until it's clear what is being hit. In all likelihood there will be a further spike if/when the strikes start followed by a 'sell the fact' trade so long as the damage...
Hurricane Milton rapidly intensifies into Category 5 hurricane
Hurricane Milton is now blowing at 135 kt, which is a Categoy-5 storm, according to the US NHC and has flight-level wind peaks at 146 kt.It has intensified faster than expected and a small eye has now developed."By tomorrow, its intensity should be dictated by any...
Is the dockers’ strike over?
Aside from the usual geopolitical headaches-especially in the Middle East, which appears to be on the brink of a major war, investors last week kept a close eye on the dockers' strike at several U.S. ports.The problem arose over a six-year contract that was due to...
The AUDUSD fall below MA and retracement support and runs to the downside
The AUDUSD has fallen below the 200 bar MA on the 4-hour chart at 0.67813 and also the 50% midpoint of the move up from the September low (also at that level). The fall below that level has led to more selling with the pair moving toward a swing area between 0.67487...
European equity close: Stocks show mixed movements as new week begins
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: What we expect from the US September CPI report on Thursday
US CPI m/mMorgan Stanley forecasts that the September CPI report will show core inflation rising by 0.26%, slightly exceeding consensus expectations. While goods inflation is expected to improve due to used cars and airfares, services inflation is projected to...
Bank of Italy: Small deviations in gov’t budget could jeopardize deficit plans
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,...
ECB’s Holzman: Inflation fight is far from over
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,...
USDCAD buyers are making a play with a move above the 200 day MA. Key break? What next?
The USDCAD is running to the upside in the early North American session to start the week, and in the process is ticking above the 200 day moving average 1.3601. Getting and staying above that moving average will be a shift more in favor of the buyers. For the pair,...
This is the area to get involved in the USDCHF if you are a buyer. I will tell you why.
If you are a buyer of the USD - of the USDCHF - this is the place to buy. Why? The old "Red Box" (see chart below) that confined the trading range going back to August 20, peaked at 0.85368. The price is down testing that area and also the 38.2% retracement of the...
US September employment trends 108.48 vs 109.04 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,...
Goldman Sachs: GBP outlook remains constructive despite recent setbacks
GBPUSD dailyGoldman Sachs has exited its long GBP/CHF position with a small profit last week, noting that Sterling has underperformed its usual risk beta. Despite recent tactical setbacks influenced by Bank of England (BoE) Governor Bailey’s comments and geopolitical...
Healthcare stocks surge, consumer cyclical slumps: A closer look at today’s market
Stock heatmap by FinViz.com Mon, 07 Oct 2024 13:46:07 GMTSector Overview and PerformanceThe U.S. stock market today is a mix of contrasting fortunes, with the healthcare sector showing solid gains, while consumer cyclical encounters significant setbacks. Notably,...
A negative start for the trading week (but off the premarket lows)
The US jobs report on Friday showed much stronger than expected job growth. Stocks moved higher. Yields moved higher. The market adjusted for the potential for no rate hike in November. The expectation is now up to 14.5% (with 85% for a cut of 25 basis points). A...
USD/CAD rises to 1.3600 in fifth day of gains
The US and Canadian economies appear to be heading in the opposite directions and that's lifted USD/CAD to a three-week high.The pair is up 30 pips to 1.3601 today in the fifth day of gains. The latest push saw the pair edge above offers at 1.3600 that restrained the...
US offered Israel “compensation-temptation package” if they avoid certain targets in Iran
The reports of an 'imminent' attack from Israel on Iran have been doing the rounds for days now but they're coming even faster today. That could be because it's Monday and everyone is back watching or it could be enough smoke to signal fire. Today is also the one-year...
Looking ahead in the forex with a technical look at EURUSD, USDJPY and GBPUSD for Oct 7
The week is off and running. What technical levels are in play for the 3 major currency pairs for today/for the trading week? In this video, I outline and explain where traders should focus not only today, but also as the week progresses. EURUSD: The EURUSD moved...
US economic data is light today but the Fedspeak picks up
US economic data is nil today but we will get a chance to hear from Fed speakers as the market has pared November rate cut pricing down to just 88% for 25 bps and a 12% chance of no change.First up is the Fed hawk and dissenter Bowman at 1 pm ET. She is participating...