I've been warning for a week about poor September seasonals and here they are. It's the worst month for stocks, oil and gold. All three of the trio are down today and some in a big way.Perhaps most-worrying is the drop in shares of Nvidia, which are down 8% with...
Oil falls to the lowest since January, nears $70.
Oil dailyIt's a rough one for oil today with WTI crude oil down $3.03 to $70.52. That's the lowest since January 17 and perilously close to the $60s.The latest leg of selling came after a report on Friday that said OPEC+ is likely to proceed with a planned gradual...
USD moving lower after string of weaker data (well not lower against the AUD)
US stocks opened lower and are going even lower after some weaker data. The S&P global manufacturing PMI was we can expected followed by the ISM PMI data also coming in lower. Construction spending completed the hat-trick with lower than expected results. The poor...
What’s the threshold for the Fed to cut by 50 basis points?
The takeaway from Powell's Jackson Hole speech was that he wanted to leave 50 basis points on the table for this meeting and future ones.Markets are now off to a rough start in September and bonds are bid strongly, with yields down 7-8 bps across the curve despite...
US construction spending for July -0.3% versus -0.1% 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 August ISM manufacturing index 47.2 vs 47.5 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 tremors in tech: Nvidia and semiconductors face decline
Stock heatmap by FinViz.com Tue, 03 Sep 2024 13:46:14 GMTToday’s Market LandscapeInvestors grappled with broad-based shifts across multiple sectors today, with the tech sector experiencing notable downward pressure, particularly in semiconductors, while other...
US August final S&P Global manufacturing PMI 47.9 vs 48.0 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,...
US stocks open the holiday shortened week lower
Major US indices are opening lower with the NASDAQ is down -200 points to raising the gains from Friday's trade (+197 point).A snapshot of the market nine minutes into the open showing: Dow industrial average -228.2 at -0.55% at 41338S&P index -23.51 points or...
Canadian S&P global manufacturing PMI for August 49.5 versus 47.8 last month
Canada S&P global PMI higher on the monthPrior month 47.8S&P global manufacturing PMI for August 49.5 versus 47.8 last monthFor the full report, CLICK HERE.Below are the main points in bullet format:Canada's Manufacturing Economy:Operating conditions continued...
Kickstart the FX trading day for Sept 3 w/a technical look at the EURUSD, USDJPY & GBPUSD
In the kickstart video, I take a technical look at the EURUSD, USDJPY and GBPUSD. For the EURUSD, it moved down to test the 38.2% retracement of the August trading range near 1.10389 but has since bounced back to the upside. If the sellers are to take more control...
US yields are moving lower. 10 year yield down -5 basis points now
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,...
Former Fed Pres. Mester on CNBC:There will be a discussion on 25 or 50 bps at FOMC meeting
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,...
It’s not a great start for anything in September
We're barely into the start of North American trading for the month but so far September is living up to the billing of being a miserable month.S&P 500 futures are down 0.5% and Nasdaq futures are a tad worse. The oil market is worried about a resumption of Libyan...
Forexlive European FX news wrap 3 Sep – Defensive positioning into the ISM release
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,...
Crude Oil Technical Analysis – At a critical support ahead of the ISM release
Fundamental OverviewLast week, crude oil has been on a seesaw due to supply side factors as we got the news that Libya was going to close down all oil fields and halt production and exports, and then that Iraq was going to cut production.On Friday, oil weakened again...
Just a week to go until the next US presidential debate
The event will take place at the National Constitution Center in Philadelphia at 9pm EDT (or 0100 GMT the next day). The question is, if there is a clear winner, who will be better or worse for the dollar?The short answer is that it isn't going to be so...
USDCAD Technical Analysis – The greenback gets some relief
Fundamental OverviewThe USD has finally got some relief since last week after being battered for weeks. The focus is now on the key data this week with the ISM Manufacturing PMI today and the NFP report on Friday in the spotlight. The market is waiting for the key...
US futures dribble lower on the session
The risk mood was seen steadier at the open in Europe this morning but has quickly turned in the last hour or so. S&P 500 futures are now down 0.5% with Nasdaq futures down 0.8%. Meanwhile, Dow futures are also down by 0.5% currently. That is putting a drag on...
Gold stays poised for a firmer breakout in big week for the dollar
Gold (XAU/USD) daily chartLet's try to keep this one short, shall we?Two weeks back, gold looked poised for a technical break as it jumped above key resistance at the time near $2,480. The move higher also took out the $2,500 mark but since then, there wasn't much...