EURUSD breaks lower and away from 100/200 hour MAsAdmittedly, the EURUSD is trading near the middle of what has been a range between 1.0550 and 1.0743. The range has been in effect for the last 6 or so trading days. When the market moves up and down, the moving...
More from Bank of Canada’s Macklem:Rates unlikely to go back down to pre-Covid levels
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US stock indices rise despite low productivity data
The major US stock indices are shrugging off the lower productivity/higher unit labor costs reported earlier. Unit labor costs rose 4.7% well above the 3.3% gain expected. The good news is the prior quarter was revised lower to 0.0%. Productivity came in at a low 0.3%...
What message is the yield curve sending?
Short term treasury yields are down on the day while long term yields are up. On a day-to-day basis that could be noise but the day after the FOMC decision, it could be a signal. When long term yields rise faster than short term ones it’s called a “bear steepener”....
US futures imply a higher opening
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USDCAD stays within a cluster of technical levels and waits for the next shove.
The USDCAD will tire earlier in the week but gave up gains after the FOMC rate decision and press conference. Admittedly there was up-and-down volatility but support yesterday did store within a cluster of the technical level was including the 200-hour moving average...
BOCs Macklem: There is a limit to how far US/Canada rates can diverge
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US equity future extend gains, US dollar softens
In markets, the first move is often the correct one. I think that was the case with the FOMC yesterday. The market initially breathed a sigh of relief as Powell downplayed the chances of a rate hike. However later, the move in equities was erased and stock markets...
Kickstart the FX trading for May 2 w/a technical look at the EURUSD, USDJPY and GBPUSD
The Fed decision has come and gone with its share of volatility. Having said that, the EURUSD and GBBUSD has followed the roadmap outlined before the rate decision. For both the EURUSD and the GBPUSD, the pairs moved up to technical resistance targets, before rotating...
US initial jobless claims 208K versus 212K estimate
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US Q1 unit labor costs +4.7% vs +3.3% expected
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Canada March trade balance -$2.28 billion vs +$1.50 billion expected
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US trade balance for March -$69.4 billion versus -$69.1 billion estimate
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Apple stock earnings: Looking at $160
Apple Inc. (AAPL) earnings preview: I am looking at a possible 5% declineAs Apple Inc. gears up to release its earnings after market close on May 2, 2024, all eyes are on the potential market reactions. Historically, Apple's earnings have been a significant catalyst,...
Initial jobless claims highlights the US data slate
Initial jobless claims and continuing claimsTomorrow's non-farm payrolls and ISM services reports are the economic data highlights of the week but we get a few notable releases today, starting at 8:30 am ET with:Initial jobless claims (exp 212K)US trade...
ForexLive European FX news wrap: Dollar steady, franc gains on Swiss inflation beat
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Crude Oil Technical Analysis – The price is hovering around a key support zone
Crude Oil has been falling steadily lately with analysts citing the peace deals in the Middle East. That looks like noise to me and the majority of the selloff might have been more about the combination of the de-escalation between Israel and Iran, and fears of the...
US April Challenger layoffs 64.79k vs 90.31k 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,...
OPEC+ reportedly could extend voluntary cuts beyond Q2
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,...
Octa crypto snapshot: will investors continue to buy Bitcoin after the halving?
The 2024 Bitcoin halving, which crypto investors have been expecting for four years, has been finalised. The reward per block has been reduced from 6.25 BTC to 3.125 BTC. The next cut will occur in 2028, with the reward reduced to 1.5625 BTC. The ultimate 64th halving...