Earlier today in the kickstart video, I spoke about the GBPUSD price action and the next target. As a review, I said the following:At the time, the price was trading at 1.3324. So what happened?The price did move above the 1.3338 and the price did move to the swing...
AUDUSD buyers try to extend higher for the 3rd day in a row. Can they keep the momentum?
The AUDUSD has been trying to extend to the upside over the last few trading days but has seen resistance even thoughnew highs have been made. Today is another try. The price has extended above the high price from last weekend at 0.6838. Also, it has moved above the...
Geopolitics: Israeli military is now targeting Beirut
Geopolitics: Israeli military says it is now targeting BeirutHezbollah also stated it's top commander Ahmed Wahbi was killed during Israelis strike on Beirut suburbsIsreal attack targeted Hezbollah leader Ali Karaki Iran warned Israel of “dangerous consequences”...
European equities end mixed, US shares edge higher
Major European indices closed mostly higher to start the week, but the gains were modest. The gains and mostly indices come despite weaker S&P/Global PMI flash data.A snapshot of the closing levels show:German Dax, +0.58%France's CAC, +0.06%UK FTSE 100,...
USDCAD makes a break for it to the downside. What was the catalyst? What next?
The USDCAD last week had some buying against the 100 bar MA on the 4-hour chart last week (currently at 1.35548) and also some failed breaks that quickly failed.In trading today, that MA did hold support in the last Asian Pacific/early European market and rallied....
More from Goolsbee: Until the rate, falling inflation has meant Fed has been tightening
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 consolidation in USDCHF trading continues. What should traders look for going forward?
The USDCHF has been consolidating since August 20 or so with most of the price action between 0.8400 and 0.8537. That's not alot of trading range over that time period. Buyers and sellers are battling it out.In the shorter-term, the price action on Friday and again...
Fed’s Goolsbee: ‘Many more cuts’ likely needed over the next year
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 finds willing sellers at the 100 hour MA
The EURUSD moved higher to test the 100 hour MA, but did find willing sellers. The flash PMI was weaker but the inflation data was higher with S&P Global saying, the "prices charged for goods and services are both rising at the fastest rate support six months"....
Tech sector stabilizes: Microsoft slides while Nvidia and Meta rise
Stock heatmap by FinViz.com Mon, 23 Sep 2024 13:46:06 GMTSector OverviewThe US stock market heatmap today highlights mixed performances across various sectors. The technology sector is showing neutral to positive movements with Nvidia (NVDA) gaining 0.30% and Meta...
US September flash S&P Global Services PMI 55.4 vs 55.2 expected
Prior was 55.7 (best in two years)Manufacturing 47.0 vs 48.5 expectedPrior manufacturing 47.9Composite 54.4 vs 54.6 prioraverage prices charged for goods and services rising at the fastest rate since MarchRates of selling price inflation moved up to six-month highs in...
Major US indices trade mixed to start take new trading week
The major indices are trading mixed to start taking new trading day and the new trading week: Dow industrial average -2.89 points or -0.01% at 42060.47S&P index up 5.69 points or 0.10% at 5708.24NASDAQ index up 23.13 points or 0.13% at 17971.45.The small-cap...
The market is too optimistic on the euro – Deutsche Bank
EURUSD dailyDeutsche Bank expects the euro to fall back to 1.08 by year end.They mainly take issue with the dollar side of the trade, noting that most G10 central banks are priced to converge to a terminal rate of around 2-3%. By virtue of the Fed having the most to...
Kickstart the trading week with a technical review of the EURUSD, USDJPY and GBPUSD
Weaker flash PMI data sent the EURUSD and GBPUSD sharply lower in the European session, but while the GBPUSD retraced all this declines, the EURUSD remains lower.Technically,, the EURUSD fell below its 100 hour moving average of 1.11382. Recall on Thursday and Friday...
Canada August new housing price 0.0% vs +0.2% 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,...
Fed’s Bostic: The range of views about the path forward is robust
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,...
More from Bostic: Recent dots show a fair amount of dispersion in opinion at the Fed
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,...
More from Kashkari: Expects smaller steps going forward from the Fed
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 Kashkari: We won’t declare mission accomplished on inflation
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 Bostic: I supported a 50 bps cut as a compromise
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,...