The USD is moving lower across the board and those moves has the GBPUSD, USDCHF and USDCAD all testing the key 200 hour MAs. GBPUSD:The GBPUSD has moved above a swing area between 1.3128 and 1.31447 and also the 100 hour moving average at 1.3136. The next target comes...
EURUSD breaks higher and finds strong buying interest
The EURUSD has raced higher after the JOLTs job report. The vacancy rate is being touted as a indication of the slack coming out of the labor market. Key Points about Vacancy Rate:Formula: Vacancy Rate = (Number of Job Openings / (Number of Employed Workers + Number...
OPEC+ is close to delaying the planned supply hike – report
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 falls to 200 hour MA for the 2nd test today
The USDCHF has move back to the downside after bouncing in the European session. The JOLTs data came in weaker. The factory orders to rebound by 5.0% after falling by -3.3% last month.The US yields are down with the 10 year down -6.0 basis points. The two-year is down...
Macklem press conference: There was a strong consensus for a 25 bps cut
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,...
Watch live: The Bank of Canada holds a press conference after lowering rates to 4.25%
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,...
Eyes on the yield curve: US 2s10s dis-inverts
2s10s weeklyUS 2-year notes now yield less than 10-year notes. Aside from a brief move at the start of August, this would be the first move to a positive-sloping yield curve since the inversion in July 2022.It comes with US 2s down 10 basis points today to 3.79% while...
US dollar falls broadly as job openings sink
July US job openings fell to the lowest since April 2021 in a sign that the labor market is weakening.JOLTS job openingsFed Chairman Jerome Powell highlighted that the FOMC doesn't want to see further weakening in the jobs market but this number paints a picture of an...
Fed’s Bostic sees potential for soft landing as labor market loosens gradually
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,...
JOLTs job openings 7.673M vs 8.100M 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 July factory orders +5.0% vs +4.7% 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,...
USDCAD trades modestly lower after the BOC 25 basis point cut
The BOC cut rates by -25 basis points to 4.25%. BOC's Macklem said that it is reasonable to expect further rate cuts in our policy rate, but warned that inflation may bump up later in the year. The USDCAD has moved modestly lower after the rate decision. That move...
Chart glance: Advanced Micro Devices bucks the tech downturn trend
Stock heatmap by FinViz.com Wed, 04 Sep 2024 13:46:15 GMTMarket Overview: Tech Struggles Amidst Broad FluctuationsToday's stock market presents a mixed bag with particular stress in the technology sector, albeit with notable exceptions. The heatmap analysis offers a...
Full statement from the Bank of Canada: Rates lowered by 25 bps to 4.25%
The full statement from the Bank of Canada on September 4, 2024:The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization.The...
Bank of Canada interest rate decision: Rates lowered by 25 basis points
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,...
Major US stock indices open lower. Declines add to the woes from yesterday
The major US stock indices are opening lower and adding to the woes from yesterday when the NASDAQ index fell -3.4% led by Nvidia which fell over 9.4% yesterday.A snapshot of the market currently shows: Dow industrial average is near unchanged at 40,940S&P index...
Kickstart the FX trading day w/ a technical look at some of the major currency pairs
In the kickstart video for September 4, I take a technical look at the EURUSD, USDJPY, GBPUSD and a special technical look at the USDCAD ahead of their interest rate decision at 9:45 AM ET. For the EURUSD, it rose to test a trend line on the hourly chart and the...
Dollar strength tied to yield ranking, but market pricing shift raises questions
Deutsche Bank is out with a note and it illustrates the big question on the US dollar: "As long as the dollar remains a high-yielder, there is very convincing evidence that it stays strong," writes George Saravelos.But as the chart above shows, it's priced to fall...
US equity futures climb from the lows but still underwater
SPX dailyEyes are on Nvidia shares again today after the 9.5% fall yesterday led to the largest one-day market-cap decline in the history of markets. The DOJ issued an anti-trust subpeona after the close and that's led to a further 1.4% decline in shares in the...
US international trade balance for July $-78.8 billion versus – $-79.0 billion estimate
Prior month $-73.1 billion revised to $-73.0 billionGoods trade balance $-102.84 billion versus $-96.56 billionServices surplus $24.3 billion versus $24.2 billion last monthOther details: Exports +0.5% versus +1.7% last month.Imports +2.1% versus +0.6% last...