Markets:Crude oil: $-0.47 at $77.38Gold $-11.90 or -0.44% at $2701.83Silver is $0.47 or -1.54% at $30.32Bitcoin up $4864 or 4.87% at $104,831The USD is ending the day higher versus all the major currency pairs. The largest move is a 0.74% gain versus the JPY. The...
US stock indice close higher on the day and have positive returns for the week
The major US stock indices are closing higher for the day and for the week. The week gain, is the first for the new trading year for the broader indices. For the day:Dow industrial average rose 334.70 points or 0.78% at 43487.83S&P index rose 59.32 points or 1.00%...
AUDUSD traded to lowest level since 2020, but bounced. Closing near 100/200 hour MAs
In the above video, I take a look at the technical levels in play for the AUDUSD heading into the new trading week. For the week, the low on Monday traded to a new low going back to 2020, but could not sustain the bearish momentum. The subsequent rise saw a double top...
NZDUSD: A lot of chop in the trading this week, but the sellers are still in control
In the video above, I take a look at the technicals driving the NZDUSD as we look toward the new trading week.The sellers are more in control below a cluster of MA with a high at 0.5612. If the price cannot get above those MAs, the sellers are in full control A move...
GBPUSD: Sloppy trading this week in the pair. Will it become more agreeable to technicals
The GBPUSD traded to new lows going back to November 2023 on Monday, but fell short of downside targets on the daily chart at 1.2039 to 1.20686. The low reached just below the 1.2100 level at 1.20989.The price bounced but quite frankly the price action was sloppy and...
EURUSD: What are the technicals telling traders after bouncing off 2022 lows this week
The EURUSD bottomed this week on Monday after falling below the 61.8% of the move up from the 2022 low to the 2023 high at 1.0200. That break could not be sustained. The seller had their shot. They missed. The subsequent move higher saw the pair peak near the 38.2% of...
USDJPY sellers this week tested the 38.2% retracement target, stalled and reversed.
The USDJPY last week, moved up to test a key target on the daily chart near 158.88. Sellers leaned and pushed the price off those levels into the close a week ago today.This week, the price of the USDJPY has stepped lower after peaking on Tuesday near the high of a...
Baker Hughes oil rig count down -2 to 468
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 indices close higher. Record closing levels for some of the indices.
The major European indices closed solidly higher not only for the day but also the week. The gains have led to record closes for the German DAX, the UK's FTSE 100 and Italy's FTSE MIB.The final numbers for the day show: German DAX, +1.20%. For the week the index rose...
CBO sees FY budget deficit of $1.865 trillion up from $1.832 trillion in FY 2024
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,...
Bitcoin jumps to $105,000
With President Trump signaling support for cryptocurrency ahead of his inauguration on Monday, Bitcoin is rallying in anticipation. The price recently surged to $105,001, its highest level since December 18. On December 17, Bitcoin hit an intraday high of...
Atlanta Fed GDPNow growth estimate for Q4 unchanged at 3.0%
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,...
Bank of Canada releases what they learned from the actions of the pandemic
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 moves higher into resistance and lower into support. The key levels remain in play.
The USDCAD moved higher in the North American session and in doing so, stretched to the high of a "Red Box": that has confined the pair going back to mid-December (see chart below). That level comes in at 1.44666. The high price stalled just short of that level at...
Trump: It is ultimately goes up to me so you are going to see what I’m going to do”
Pres. elect Trump in an interview on CNN said: it is ultimately up to meHe did not specify what he wants to do, but he has said/implied he wants TikTok to be Amerian owned and operated within the United States.. Trump benefited from TikTok in the election. He does not...
TradeCompass for Japanese Yen
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,...
Trump: Plans on a flood of immigration executive orders on Day 1
In addition to TikTok, Pres. Trump is saying that he is planning a flood of immigration executive orders on day one.However, Politico reports, that Trump is unlikely to fulfill key Day One promises, including:Large-scale deportation efforts.Ending birthright...
US Supreme Court rules ag TikTok challenge to law that would force sale or ban app in US
The US Supreme Court rules against TikToks challenge to law that would force a sale or ban the app in United States.Does TikTok get banned on Sunday. The Biden Administration said they would not let it go black on Sunday (i.e. enforce the law). They are passing the...
More from China’s Xi: There are differnces. The key is finding ways to resolve issues
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,...
Technology rallies as healthcare retreats: Exploring today’s market dynamics
Stock heatmap by FinViz.com Fri, 17 Jan 2025 14:46:13 GMTSector OverviewToday, the U.S. stock market showcases a remarkable resurgence in the technology sector, juxtaposed against a noticeable pullback in healthcare. Leading the tech charge are giants like Microsoft...