There was a popular theory among central bankers coming out of the post-covid inflation shock: That the world had changed.The overwhelming line of thought is that we would never get back to ZIRP or negative interest rates and that the neutral rate was higher. I've yet...
Canadian dollar falls to the lowest in two years
The Canadian dollar is in a tough spot. The US dollar rose 15 pips against the loonie today to 1.3950, which is the first time at that level since 2022. The next level to watch is 1.3978, as a rise above that level would be the highest since the pandemic. And other...
Geopolitics: US truce efforts on Lebanon fail ahead of the election
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,...
Baker Hughes Oil rigs 479 down -1 on the 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,...
AUDUSD lower on the week but buyers and sellers are consolidating the declines
The AUDUSD is lower on the week, but since bottoming on Wednesday, the price has moved up and down. IN the process, the price has seen the price move above and below the 61.8% of the move up from the August low at 0.6575. The price over the last day or so has also...
Atlanta Fed GDPNow growth estimate for Q3 growth comes in at 2.3% vs 2.7% last
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 consolidation sets up for a break next week.What levels are key for traders and why
The USDCAD has been trending higher, though its momentum has started to slow.One key factor has been resistance at this year’s high, set back in August at 1.39458. This week, high prices have approached but stopped just short of that level, creating a ceiling.Of...
Breaking Ground: Midnight to Launch the World’s First Deconstructed MMO on Aptos
Midnight Evergreen Technologies, Inc. (Midnight) dares to reimagine the role of an AA game publisher, with a mission to fundamentally reshape how we play together. Midnight is building The Evergreen, the first (of-its-kind) publishing platform designed as a...
Treasury yields won’t stay down. What’s driving rates
US 10s dailyUS 10-year yields traded as low as 4.22% after non-farm payrolls but have rebounded to 4.32%.It's tough to say what's driven the reversal but here is a stab at it:Non-farm payrolls was skewed by the hurricanes and strikes and the market thinks the jobs...
November financial market seasonals: Japanese FX officials won’t want to read this
USDJPY weeklyThe election is going to dominate early November trading so making moves based on seasonals is unwise. That said, it's useful to keep them in mind as the dust settles.November is the best month for USD/JPYBest month for the NasdaqThird-best month for the...
The USDCHF still in a narrow trading range between 0.8632 below and 0.8799 above
The USDCHF moved lower after the US jobs report but held above support near 0.8632 (the low reached 0.86385 and bounced). The move back higher has now taken the price back above the 100/200 hour MAs which are near converged near 0.8661. The price has moved to a new...
US ISM October manufacturing PMI 46.5 vs 47.6 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 construction spending for September 0.1% versus 0.0% 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,...
Tech sector rallies: Amazon surges while Apple stumbles
Stock heatmap by FinViz.com Fri, 01 Nov 2024 13:46:11 GMT📊 Sector Overview: Tech Rebound and Consumer Electronics DeclineThe stock market is abuzz today with notable divergences across sectors. The technology sector is seeing a resurgence, driven by gains in major...
US S&P Global final October manufacturing PMI 48.5 vs 47.8 prelim
Prelim was 47.8Prior was 47.3Fourth straight month below the 50.0 expansion markElection uncertainty weighing on new orders, the report saysHurricane disruptions hitting supply chainsInput cost inflation at lowest since November 2023Comments from S&P Global's...
NASDAQ on pace for its first down week after 7 weeks higher
Although the major indices are higher to start the new trading day helped by US employment report which was neither too strong or too weak, the indices for the trading week are lower.For the NASDAQ index, its seven week win streak is on pace to be broken. All good...
S&P Global October Canada manufacturing PM 51.1 vs 50.4 prior
Prior was 50.4new business rose marginallyUnderpinning growth in October was a solid rise in manufacturing productionWith output rising at a noticeably faster pace than new work manufacturers added to their stocks of finished goodsThis report is rarely a market mover...
Kickstart FX trading for Nov 1 after the US jobs report. A look at EURUSD, USDJPY & GBPUSD
The US jobs report has come and gone, with hurricanes and strikes influencing the number. You can find out the details HERE.What has happened technically.In the video above, I outline the key technical levels in play for the EURUSD, USDJPY and GBPUSD and explain why....
US stocks poised for a bounce after yesterday’s rout. Eyes on shifting election odds
A 7% rise in Amazon shares after earnings is helping to shore up equity market sentiment following a rout yesterday. S&P 500 futures are up 25 points following a 108 point decline yesterday.Amazon reported a big beat on revenue and earnings. That's counterbalanced...
China loosens rules for foreign investors in equities
Chinese officials continue to make moves that highlight an eagerness to boost equity markets. The latest is from the Chinese Commerce Ministry:Adjusts lookup period for foreign investors to 12 months from 3 yearsWill allow foreign investors to carry out strategic...