USDJPY dailyMitsubishi UFJ Financial Group highlights the rising likelihood of intervention by Japanese authorities to support the yen, following strong signals from Japan’s Finance Minister and recent currency trends. The USD/JPY has been hovering just below the...
The intensity of the US dollar reaction to the PMI is instructive
This is a market that's been desperately searching for signs of a cooling economy and it's treating today's S&P Global US PMI like an oasis in the desert.It's similar in FX, where we are getting a round of US dollar selling that's lifted the euro by 40 pips and...
Yields moving lower. Dollar lower. Stocks higher after some sluggish data.
The sluggish flash PMI data and Richmond Fed data, has yields moving lower, the dollar lower and stocks higher. Looking at the yield curve, the shorter end is lower as traders adjust to the surprise weakness and ponder does this ease the Feds (and the markets) anxiety...
US March new home sales 0.693m vs 0.670m 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,...
Richmond Fed Manufacturing index -7 versus -7 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,...
S&P Global services PMI 50.9 vs 52.0 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 major indices are higher in early US trading
The major US indices are higher in early trading. The NASDAQ index is leading the way followed closely by the S&P index. A snapshot of the market 11 minutes into the open is showing:Dow industrial average up 78.15 points or 0.20% at 38318.14S&P index up 22.78...
The USDCHF is not doing much in trading today, but the buyers are trying to take control.
The USDCHF price action is not doing much today. The price has been moving up and down and in the process, the price has been trading above and below the 100 and 200 hour MAs . However, in more recent trading in the US session, the 100-hour MA at 0.9112 has held...
US stocks set for a second day of gains
Spoos dailyS&P 500 futures are nearing yesterday's highs and at the best pre-market levels. Futures are up 20 points, or 0.4% as earnings roll in.Shares of GM are up 6% after beating and raising guidance on strong truck sales. Shares of Spotify are also up 8% on...
Kickstart the FX trading day for April 23 w/a technical look at EURUSD, USDJPY and GBPUSD
In the kickstart video, I take a look at the three major currency pairs, the EURUSD, USDJPY and GBPUSD, and outline the technical levels in play.The EURUSD moved higher in training today but did find resistant sellers against the swing below going back to February...
Slowing package delivery numbers highlights middling demand
UPS reported earnings earlier today and there are some read-throughs on the strength of the economy.The company reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment in the quarter. However the company...
ECB’s Nagel: Need to be convinced that inflation is heading back to target before cuts
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,...
Philly Fed April non-manufacturing index -12.4 vs -18.3 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,...
Has the metals rally come to an end?
Gold has plunged more than 3% since the start of the week (the biggest daily drop in nearly two years), while silver has suffered a sharp 5.5% correction. There are two main reasons for this sudden turnaround. Firstly, easing geopolitical tensions in the Middle East...
PMIs and new home sales and a two-year auction coming up
US new home salesThe week picks up today on the economic calendar and the earnings calendar.The main highlight comes at 9:45 am ET as the global PMIs continue to roll out with the US manufacturing and services surveys. The consensus on both is 52.0.Then at 10 am ET,...
ForexLive European FX news wrap: Euro does the rise and fall on PMI beats, pound gains
Headlines:Markets:GBP leads, NZD lags on the dayEuropean equities higher; S&P 500 futures up 0.2%US 10-year yields up 2.9 bps to 4.651%Gold down 1.0% to $2,302.06WTI crude down 0.7% to $80.65Bitcoin down 0.7% to $66,088A couple of PMI beats got things moving in...
BOE’s Pill: The timing for a rate cut is still some way off
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,...
BOE’s Pill says seeing signs of a downward shift in inflation persistency
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,...
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Major currencies revert back to unchanged levels on the day
Well, that's quite a bummer in European morning trade. There was a bit of life after the PMI data earlier but things have quickly settled back down. Dollar pairs are sitting within 10 pips of one another, showing very little change on the day.That speaks to the lack...