The USDCAD will tire earlier in the week but gave up gains after the FOMC rate decision and press conference. Admittedly there was up-and-down volatility but support yesterday did store within a cluster of the technical level was including the 200-hour moving average...
BOCs Macklem: There is a limit to how far US/Canada rates can diverge
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 equity future extend gains, US dollar softens
In markets, the first move is often the correct one. I think that was the case with the FOMC yesterday. The market initially breathed a sigh of relief as Powell downplayed the chances of a rate hike. However later, the move in equities was erased and stock markets...
Kickstart the FX trading for May 2 w/a technical look at the EURUSD, USDJPY and GBPUSD
The Fed decision has come and gone with its share of volatility. Having said that, the EURUSD and GBBUSD has followed the roadmap outlined before the rate decision. For both the EURUSD and the GBPUSD, the pairs moved up to technical resistance targets, before rotating...
US initial jobless claims 208K versus 212K 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 Q1 unit labor costs +4.7% vs +3.3% 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,...
Canada March trade balance -$2.28 billion vs +$1.50 billion 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 trade balance for March -$69.4 billion versus -$69.1 billion 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,...
Apple stock earnings: Looking at $160
Apple Inc. (AAPL) earnings preview: I am looking at a possible 5% declineAs Apple Inc. gears up to release its earnings after market close on May 2, 2024, all eyes are on the potential market reactions. Historically, Apple's earnings have been a significant catalyst,...
Initial jobless claims highlights the US data slate
Initial jobless claims and continuing claimsTomorrow's non-farm payrolls and ISM services reports are the economic data highlights of the week but we get a few notable releases today, starting at 8:30 am ET with:Initial jobless claims (exp 212K)US trade...
ForexLive European FX news wrap: Dollar steady, franc gains on Swiss inflation beat
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 – The price is hovering around a key support zone
Crude Oil has been falling steadily lately with analysts citing the peace deals in the Middle East. That looks like noise to me and the majority of the selloff might have been more about the combination of the de-escalation between Israel and Iran, and fears of the...
US April Challenger layoffs 64.79k vs 90.31k 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,...
OPEC+ reportedly could extend voluntary cuts beyond Q2
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,...
Octa crypto snapshot: will investors continue to buy Bitcoin after the halving?
The 2024 Bitcoin halving, which crypto investors have been expecting for four years, has been finalised. The reward per block has been reduced from 6.25 BTC to 3.125 BTC. The next cut will occur in 2028, with the reward reduced to 1.5625 BTC. The ultimate 64th halving...
EURUSD Technical Analysis – The market is waiting for the next catalyst
Yesterday, the Fed left interest rates unchanged at 5.25-5.50% as expected but delivered some dovish surprises compared to the hawkish expectations. In fact, although the recognized the recent slowdown in the disinflationary progress in the statement, they also...
BOJ accounts suggest Japan intervened in FX market on 1 May
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,...
Gold eases back towards $2,300 as post-Fed jump fades
Gold caught a decent jump from the Fed yesterday as it rose from $2,300 to $2,328. The move was faded quite quickly before a slow push to $2,325 again in Asia today. But sellers have been on the ball in keeping the downside pressure since Friday last week. They have...
USDJPY Technical Analysis – Opportunity to buy the dip at even better levels?
Yesterday, the Fed left interest rates unchanged at 5.25-5.50% as expected but delivered some dovish surprises compared to the hawkish expectations. In fact, although the recognized the recent slowdown in the disinflationary progress in the statement, they also...
Market News – Stocks mixed; Yen support still on; Eyes on NFP & Apple tonight
Economic Indicators & Central Banks: As the Fed maintained a “high-for-longer” stance, stocks gave up their gains with attention turning back to earnings. Chair Powell and the Fed were not as hawkish as feared and the markets reacted immediately and in...