The upcoming Asia-Pacific session is likely to be a volatile one.The first fear is that the call between Biden and Netanyahu today will preceed strikes against Iran, including against oil infrastructure. Axios reports that a 'major attack against Iran' could be...
Crude oil futures settled at $73.24
Crude oil futures are settling at $73.24. That is down -$0.33 or -0.45%.The low price today reached $71.58. The high price extended to $74.41.Technically, looking at the daily chart, the price today fell below its 50 day moving average and the broken 38.2% retracement...
In the age of AI, here’s an old reminder that technology can advance at lightning speed
Jeffrey HintonDon't bet against human invention.Most, if not virtually all people still have little grasp on how much change generative artificial intelligence will bring. Yesterday, the Nobel Prize for physics was awarded to Jeffrey Hinton. Just three years ago, he...
What did a few, some, several, many, a substantial majority of Fed officials agree on
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,...
The NZDUSD continued the fall that started last week after the RBNZ rate cut. What next?
The NZDUSD traded to the highest level in 2024 just last week (eight trading days ago). The high price reached 0.63778. Today after they are beyond the cut rates by 50 basis points, the price low traded to 0.60516. That's 327 pips in a trading days.Technically the...
FOMC Minutes: A substantial majority of participants supported a 50 basis point 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,...
USD/CAD gains for the seventh consecutive day
USDCAD dailySeven straight days of USD/CAD gains speaks to a strong rejection of what looked like it could be a breakdown in August and September. The chart is a big of a nightmare for technical analysis as it had a break, then a lower low then a snap-back rally into...
MUFG: What to expect from today’s FOMC Minutes?
MUFG anticipates that the minutes from the September FOMC meeting will provide insights into the level of support for the 50bps rate cut and the current sentiment regarding inflation and the dual mandate.Key Points:Support for the Rate Cut:Market participants will be...
US sells 10-year notes at 4.066% vs 4.062% WI
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US set to sell $39 billion in 10-year notes at the top of the hour
How does 4.06% for ten years sound?That's what markets will be grappling with as we count down to the results of the 10-year sale at the top of the hour. I thought we would see more bids as 10s crossed 4% the the sellers continue to have the upper hand as US economic...
Fed’s Jefferson: Fed decisions will be meeting by meeting
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Fed’s Barkin and Jefferson are due to speak
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An Israeli warship was spotted off the city of Tyre in southern Lebanon
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Atlanta Fed GDPNow growth estimate for Q3 unchanged at 3.2%
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NASDAQ index within 2% of it’s all time high closing level
The NASDAQ index is now trading up over 113 points or 0.62% at 18295.69. The high price reached 18299.22. That has taken the price within 2% of it's all time high closing level at 18647.45. The intraday high close level came in at 18671.07. The next target comes...
USD/JPY stretches higher as the risk mood improves. Eyes August high
USDJPY dailyThere hasn't been a clear catalyst for the turnaround in risk sentiment in the past two hours but it's real and widespread. The S&P 500 just touched a record high and Treasury yields are inching up.The FX market is also validating the move with risk...
European equity close: Strong bounce with the DAX leading the way
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EURUSD extends to a new low and stretches toward the 100 day MA
The EURUSD has moved to a new session low, and in the process, the pair moved to a new low going back to August 13 and through the 61.8% of the move up from the August 1 low at 1.0944, and a swing area between 1.09419 to 1.0949. The low reached 1.09388.However, what...
S&P 500 rises to intraday record
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Milton downgraded to Cat-4 hurricane, still expected to land as major hurricane
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