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,...
NZDUSD hits fresh yearly low; sellers retain control
The NZDUSD price has extended to a new low for the trading year and extended to the lowest level since November 17. The low on that day came in at 0.5939 which is where the price decline stalled today. The current price is trading at 0.59487.Earlier today, the high...
Crude oil futures settle at $83.71 a barrel
The price of the WTI crude oil futures are settling at $83.71 - its highest close since October 27, 2023. The price is up $0.54 or 0.77% on th day. The high price today reached $84.49. The low price was at $82.60.The gains today come after a 3.2% increase last week....
The USDCAD moves higher & away from moving avg. support.Can the buyers keep the momentum.
The USDCAD is running to the upside and in the process is moving away from the 100/200 bar MA on the 4-hour chart. Both of those moving averages are near 1.3536 (the current price is trading at 13582).The price high has moved to 1.3585 which was also the hybrids going...
Focus is shifting back to the large US fiscal deficit
Ken GriffinThere is a bit of mystery about why the US economy is so resilient this year and it's increasingly clear to me that there's one simple reason: Fiscal spending.The CHIPS and IRA legislation loaded up spending in 2024 and 2025 and that's driving spending...
April seasonals: Soggy weather, sizzling markets
March seasonals provided a good clue for what might happen in the month. For starters, March is the second-strongest month for USD/JPY and that was tailwind as the pair rose to the 152.00 level after an early-month dip on BOJ tightening reports.In March I wrote:The...
Market Sentiment: Gold’s Bullish Outlook Intact; AUD/USD, NZD/USD Biased Lower
Most Read: SPY and QQQ Seem Overbought but RSP Looks AttractiveMarket psychology can be a powerful force, often leading the retail crowd to follow the herd. However, experienced traders recognize the potential for profitable opportunities by going against the grain:...
Oil rises to the highest since October as Israel bombs Iran’s consulate in Damascus
Israel bombed the Iranian consulate in Damascus, killing a general and five others. It's rare to see diplomatic buildings targeted in the long-running fight and that could signal escalation or retaliation. Oil was stronger on the day ahead of the news so it's...
AUDUSD moves lower on USD buying and falls back below a retracement level
The AUDUSD has moved to a new low going back to March 5, and in the process has broken below its 61.8% retracement of the move up from the October 2023 low. That level comes in at a natural target at 0.64995 (call it 0.6500). The level now represents a short-term...
USDCHF buyers are back in the drivers seat. Price moves back above the 38.2% retracement.
The USDCHF is moving sharply to the upside as the market reacts to the better-than-expected ISM data. In the process, the price has moved back above its 38.2% retracement at 0.90252. Recall that late last week, the price moved back below that retracement level which...
Atlanta Fed Q1 GDP now +2.8% vs +2.3% 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,...
Today’s jump in Treasury yields could be the start of an ominous technical signal
US 10sUS 10-year yields are up a whopping 13.3 basis points today and approaching the key 4.35% level. The chart looks like a rough head-and-shoulders pattern and even if you don't see that a break of 4.35% would be material. The measured target from the H&S would...
The EURUSD is running lower and looks to test a swing area on the daily
The EURUSD is following the US dollar higher (with a move lower). THe pair is trading at its lowest level since February 16, and in the process broke below an upward sloping trendline and the broken 38.2% retracement of the move down from the 2023 high. That level...
The GBPUSD makes a break for it. Runs lower and outside value area for the pair.
The GBPUSD fell sharply after the ISM data, and in the process, extended outside of the "value area" that has confined the pair between 1.2594 and 1.2800. Yes, there were moves below and above that range in February/March, but those breaks were brief. Most of the...
US dollar climbs to the highs of the day. Four things driving the bid
The US dollar is strong to start the week and to understand why, I think we have to go back to Friday.1) ISM manufacturingToday's ISM manufacturing survey was on the hot side. The headline rose above expectations and the prices paid component climbed to 55.8 from...
The USDJPY runs higher as the market gets a shove from data
The USDJPY is getting a shot higher after stronger-than-expected US PMI data. The price is running away from it converged 100 and 200 hour moving averages at 151.39. Staying above those moving averages keeps the buyers more in control. On the topside the price is...
Bank of Canada Q1 business outlook survey: Conditions improved slightly
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 February construction spending -0.3% versus 0.7% 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,...
US March ISM manufacturing 50.3 vs 48.4 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,...
OPEC output fell 50k bpd in March
OPECProduction at 26.42 million barrels per dayThe largest cuts came from Iraq and Nigeria. Iraq had been producing above quota and agreed to cut by 130K in March. They fell short of that and will be under pressure to do more in April.Overall, productionw as about...