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,...
USDJPY moves to new 2024 high and trades at highest level since November 16
USDJPY trades to new 2024 highsThe USDJPY has broken above its 2024 high at 150.885 and advanced to a high of 150.954. That's the highest level since November 16.For buyers looking for more upside, it would now take a move below 150.718 (low of swing area on the chart...
Fed preview: Ignore the dots, focus on Powell
AI imageI wrote yesterday about a small detail in the dot plot that might be ignored in the initial move but will have some larger repercussions. Beyond that, I expect the dot plot is going to be an overrated part of the equation when the Federal Reserve meets...
Canadian inflation is back to target, with one caveat
This is a great chart from Dominique Lapointe at Manulife. He highlights that Canadian February CPI excluding mortgage interest costs was at 2.06% y/yIt's "clearly the kind of sustained progress the BoC needs to see to ease its policy rate," he said.The Bank of Canada...
Bitcoin roars back more than $3000 from the lows
Ugly trading in Asia has led to big buys in the US.Bitcoin is up more than $3000 from the low in US trade of $62,328 and is trading at $65,681. Despite the huge pop, it's still down 2.5% on the day as the market frets about ETF inflows and the latest buy (which is...
US treasury sells $13 billion of 20 year bonds at a high yield of 4.542%
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,...
U.S. Treasury to auction off $13 billion of 20 year bonds at the top of the hour
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,...
ECBs Kazaks: He is comfortable with current market pricing on rates
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 EURUSD continued its run to the upside in the US morning session, but stalled
The EURUSD coming into the US session had bounced near the 200-day MA and the 50% midpoint and looked toward the 100-day MA at 1.08549. The price did break above that 100-day MA, and in doing so, moved up to test the next target at 1.08656. That level is home to swing...
Oil climbs for the fourth time in five days, eyes $85
WTI crude oil dailyWTI crude is near the highs of the day, up 70-cents to $83.45 in a reversal of losses that occurred in European trading. This is the fourth day in the past five that oil has climbed on signs of tightening US inventories and still-strong demand.Late...
USDJPY extends to a new high. Moves toward the swing highs from 2024
USDJPY is testing the swing highs of 2024The USDJPY has moved to a new session high and in the process is moving further into the swing area at 2024 highs that area comes between 150.718 and 150.879. That area has been on to several swing highs (see red number circles...
The AUDUSD falls with the overall USD buying today but is seeing a bounce higher
The AUDUSD moved lower in the Asian and early European session. The move may be attributed to overall USD buying The RBA did meet and announced no change in policy. In the statement, the central bank did take out that a further hike "cannot be ruled out"Now they...
USDCHF trades to a new 2024 high today, but can not sustain momentum. What next?
The price of USDCHF rotated higher today and - in the process - extended to a new high for 2024. That run took out the February high at 0.8885 and the March high at 0.88929. However, momentum could not extend past 0.8898, and the price rotated back to the...
Atlanta Fed US Q1 GDPNow 2.1% vs 2.3% prior
The tracker from the Atlanta Fed is falling to levels that are more consistent with the path of a slowing economy and rate cuts in H2.The releases said:After recent releases from the US Bureau of Labor Statistics, the US Census Bureau, and the Federal Reserve Board of...
Jansen Huang interview on CNBC fails to kickstart the stock. Technicals tilt lower in ST.
CNBCs James Kramer interviewed and videos Jansen Huang. Shares of Nvidia when trading at $863.23 as the interview got going. Shares are trading at $856.17 down $28 38 or -3.18%.Looking at the hourly chart below, the prices currently trading below its 100 hour moving...
New Zealand GDT price index -2.8%
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 US stock indices are mixed with NASDAQ under pressure
Major US stock indices are opening the day lower led by the NASDAQ index. That index is currently down -0.83% on the back of Nvidia shares down over 3% after their Nvidia developers conference yesterday failed to push the price higher.A snapshot of the market...
USDCAD runs higher with the USD and also helped by weaker CPI data out of Canada today.
The USDCAD has moved higher with the US dollar today, and was goosed even higher after Canadian CPI data came out weaker than expected 0.3% versus 0.6% expected. The year-on-year fell to 2.8% from an expected 3.1%.The move to the upside has extended up to a swing era...
US used vehicle prices continue to slide, led by EVs
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,...
Canadian dollar falls to the lows of the year as inflation slows faster than forecast
For much of the pandemic-era, the Canadian and US economies were mirror images of each other but cracks are beginning to show. Canadian CPI today highlighted differing inflation dynamics as the first two months of 2024 have shown Canadian pricing falling faster than...