Crude oil stocks rose by 4.2 million barrels to 447.16 million, against a forecasted 2.7 million barrel increase.Distillate stocks decreased by 510,000 barrels to 121.14 million, versus a forecasted 2.1 million barrel draw.Gasoline inventories declined by 2.8 million...
USDCAD breaks above a key swing area, and 100 day MA and runs higher. What now?
The USDCAD broke higher earlier today, and in the process extended above a key swing area between 1.3526 and 1.35428. Just above that level was the following 100-day moving average 1.3545. Getting above all those levels increase the bullish bias and the price raised...
EURUSD makes a break above the 200 day MA /200 bar MA on the 4-hour chart
EURUSD moves above the 200 day moving averageThe EURUSD is stretching higher and in the process has been able to extend above its 200-day moving average and 200 bar moving average on the 4-hour chart (see green lines on the chart above). Both of those levels come in...
ECBs Kazaks from interview: Too soon to cut rates
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,...
Stocks trading lower in early US trading
The major US stock indices are trading lower with the NASDAQ index in the Dow industrial average both down around -0.50%.Yesterday the NASDAQ index moved to a high price of 16046.10 which got within about 11 points of all-time high closing level of 16057.44. However,...
US stocks futures implying a negative opening
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 is up 57% from 2024 year lows and moves away from $60,000. Buyers in control.
The price of bitcoin has continued its search to the upside reaching a new high going back to November 2021 of $60,765. The price is now up all her 57% from the low price for 2024 reached during the week of January 22. Since the week of September 11, 2023 the price is...
Backpack Raises $17 Million Strategic Series A Round Led by Placeholder VC
The Backpack ecosystem of companies, creators of the Backpack wallet, the Mad Lads NFT collection, and Backpack Exchange, today announced the first joint closing of their $17 million strategic Series A round at a $120 million combined valuation. The round was led by...
Kickstart your FX trading for February 28 with a technical look at 3 (no 4) major pairs
Kickstart your FX trading with a technical look at three other major currency pairs - the EURUSD, USDJPY and GBPUSD, along with a special look at the NZDUSD after the Reserve Bank of New Zealand Rates unchanged in was a bit more dovish in their commentary.While levels...
Canada Q4 current account -1.62B vs -1.25B expected
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,...
US January advanced goods trade balance -$90.20B vs -88.4B estimate
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,...
US wholesale inventories for January -0.1% versus +0.4% last month
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,...
US Q4 GDP (second reading) +3.2% vs +3.3% expected
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 looks to test the $60,000 natural target
Bitcoin just reached a high of $59,992, just short of the natural resistance target at $60,000.In a video yesterday, i spoke to the pair and outlined that a move below - and staying below - the 200 bar MA on the 5-minute chart was needed to give the sellers something...
US GDP and trade balance data coming up next
It's Wednesday and markets are in something of a bad mood with US equity futures lower, yields down and the US dollar strengthening across the board.The main event on the economic calendar today is the 2nd reading on US Q4 GDP. It's not a big market mover but the...
ForexLive European FX news wrap: Dollar gains as equities ease lower, Bitcoin surges
Headlines:Markets:USD leads, NZD lags on the dayEuropean equities mostly lower; S&P 500 futures down 0.3%US 10-year yields down 3 bps to 4.285%Gold flat at $2,028.53WTI crude down 1.0% to $77.44Bitcoin up 4.7% to $59,394There weren't any major headlines to steal...
FX option expiries update for 28 February 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,...
US MBA mortgage applications w.e. 23 February -5.6% vs -10.6% 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,...
ECB’s Kažimír: Market’s rate cut pricing now “more realistic”
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,...
Eurozone February final consumer confidence -15.5 vs -15.5 prelim
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,...