Crude oil futures are trading to new session high, up $1.20 or 1.77% at $68.87.Looking at the hourly chart, the price is moving back toward the falling 100 hour moving average. That level comes in at $69.43. The price fell below that moving average on Friday, August...
NZDUSD bounces near retracement support target.Buyers lean against the 38.2% on first test
The NZDUSD continued its run to the downside in trading today after sharp declines on Friday helped by the risk-off sentiment on stock selling, and lower commodities. The down momentum continued today and carried the price down toward the 38.2% retracement of the move...
Atlanta Fed GDPNow growth estimate for Q3 comes in at 2.5%
The Atlanta Fed GDPNow growth estimate for Q3 growth rises to 2.5% from 2.1% last. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 2.5 percent on September 9, up from 2.1 percent on...
Major European indices close higher to start the trading day
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AUDUSD tests a key support level defined by 38.2%, 100 day MA, and 200 bar MA on 4-hour.
The AUDUSD moved lower on Friday helped by risk-off sentiment from the tumble in US stocks. In trading today, selling has continued after a rise in the early Asian session. The fall has taken the price of the AUDUSD to a key technical support level defined by three...
New York Fed: 1 year inflation expectations unchanged at 3.0%.3-year up to 2.5% from 2.3%
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 stays above key 4-hour MA. Buyers in control in the short term.
The USDCAD moved higher on Friday helped by weaker Canadian jobs report. The unemployment rate rose from 6.4% to 6.6%. That took the rate to the highest level since 2017 if you exclude the Covid spike from 2020/2021.Looking at the USDCAD, it moved above its 100 bar...
Citigroup CFO Mason: Feels good about consumer and corporate balance sheets
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,...
USDCHF bounces higher today and above 100/200 hour MAs. Buyers make a play.
The USD/CHF is trending higher today after hitting its lowest level of 2024 on Friday, followed by a strong rebound. The price action has seen the pair move above the 100-hour moving average at 0.8464 and the 200-hour moving average at 0.8470. Staying above these...
Canada desperately needs to build, but it’s getting worse at it
A broad consensus in Canada has emerged and it's inevitably going to wipe on Prime Minister Justin Trudeau and his Liberal Party: Canada is bringing in far too many people and can't build the housing or infrastructure to support them.Young people are brutally feeling...
US August employment trends 109.04 vs 109.61 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,...
US wholesale sales +1.1% vs +0.2% 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,...
Market rally led by tech and consumer cyclical giants: Nvidia and Amazon soar
Stock heatmap by FinViz.com Mon, 09 Sep 2024 13:46:10 GMTDynamic Gains in Technology and Consumer CyclicalsDiving into today’s market activity reveals a robust uptrend led by the technology and consumer cyclical sectors. Powered by standout performances from tech...
Solid starts for the major indices after declines last week
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,...
Kickstart the FX trading day for Sept 9 w/a technical look at the EURUSD, USDJPY & GBPUSD
Friday employment day in the US, led to volatile up and down price action in the major currency pairs. Today, the USD is trading higher (EURUSD and GBPUSD are lower while the USDJPY is higher) but the greenback is coming off highs. In this video, I look at the...
The price action in stocks reminds me of 2007
A few equity indexes are starting to look like this chart, from 2007.Back then the problems in US housing were starting to mount and in July/August we got a sharp selloff in stocks, including 7% in the S&P 500. Then, it recovered to touch a marginal new record...
The bond market signals that a jobs tipping point is inevitable
Jim Reid at Deutschebank makes a great point in a note today. He illustrates that US unemployment has risen to 4.2% from 3.4% almost entirely due to people entering or re-entering the labor force.Then goes on to warn that it can quickly change to something...
A lighter US economic calendar is a chance to focus on China woes
Xi JinpingThe Fed is in the blackout period until after the FOMC decision and the US economic calendar is light today, featuring only wholesale inventories and employment trends.That will give the market a chance to catch its breath after a hectic week to start the...
The CAD is the strongest and the JPY is the weakest as the NA session begins
The CAD is the strongest (closely followed by the USD) and the JPY is the weakest as the North American session begins. Stocks are higher and yields are also higher, reversing some of the declines from Friday (last week). It is the day after the US jobs report which...
NHC warns of risk of life-threatening storm surge for Louisiana and upper Texas
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,...