Crude oil futures are settling at $77.58. That is up $1.09 or 1.43%. The high for the day reached $78.03. The low extended to $75.84. Looking at the hourly chart, the price is back above the 100/200 hour MA blue and green lines) Those MAs are near converged at $77.45....
Bitcoin climbs nearly 7% to $54,000. What’s next
Momentum is the dominant feature of markets this year and nothing has more momentum than bitcoin right now. After a 10-day break as it consolidated around $52,000, bitcoin has broken out in a big way.It's up $3400 today, or 6.7%, to $54,450. That's the highest since...
The first job of artificial intelligence should be to clean up science
One of the dreams of artificial intelligence is that if we take all of the world's research papers -- let's say cancer research -- and put them into the machine, it will come up with new and novel approaches to find cures.I'm hopeful that will be the case.But I'm...
NZDUSD sets up for rate decision later this week
Target rangeThe Reserve Bank of New Zealand will meet and announce their rate decision on Wednesday morning in New Zealand (8 PM ET in the US. The expectations are for central bank to keep rates unchanged but to keep the door open for potential tightening in order to...
Warren Buffett: Capital spending on America’s power needs will be staggering
Warren Buffett's annual letter was released on the weekend and what got my attention was how much of it he spent on energy, which is mentioned 163 times in the text.One area he focuses on is Berkshire Hathaway Energy and losses in the electrical transmission space. He...
US sells 5-year notes 4.320% vs 4.312% WI
We have a double dose of Treasury sales to start the week and the market appears to be having some difficulty digesting the supply. US 5s were up 4.2 bps ahead of the sale to 4.33%.Record size of $64 billionBid to cover 2.41 vs 2.31 priorPrior to this auction, results...
US treasury to auction $64 billion of 5-year notes 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,...
J.P. Morgan Chase Dimon: There are things ahead that are concerning
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,...
Major European shares close the day mixed
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 highs and looks toward 2024 high at 150.88
USDJPY extends to new highsThe USDJPY is moving to a new session high and in the process is extending above a swing area between 150.718 and 150.774. The next target comes against the high price from 2024 which was reached on February 13 at 150.88 (see chart above)....
AUDUSDD moves to new lows and tilts the technical bias more to the downside in the pair
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 treasury sells $63 billion of two-year notes at a high yield of 4.691%
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,...
Bitcoin breaks the range to hit $53,000 for the first time since 2021
Bitcoin dailyBitcoin is trading at the highest since December 2021 as it breaks out of a consolidation pattern from the past two weeks.Bitcoin has been trending higher for the past month but stalled on February 15 to carve out a narrow range around $50-53K. However it...
ECB Pres. Lagarde: Increasing signs of bottoming out in growth.
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 Lagarde to speak at the top of the hour
ECBs Lagarde is scheduled to speak at the top of the hour. Lagarde has been cautious in her statements on changing policy too soon.Looking at the EURUSD, looking at the hourly chart below, the price is coming off at session highs at 1.0859. As outlined in the...
Dallas Fed manufacturing index for February -11.3 versus -27.4 last month
Prior month -27.4Dallas Fed manufacturing index -11.3 in FebruaryDetails from the Dallas Fed. Texas factory activity showed signs of stabilization in February, recovering from contraction in January according to the Texas Manufacturing Outlook Survey.:Production...
USDCAD bounces off hourly MA support but has swing area /50% resistance on the topside
The USDCAD fell in the early North American session but found support buyers near the converged 100/200 hour MAs. Both those MAs came in near the natural support at 1.3500 as well.The high today also tested a technical area. For it, the swing area between 1.3526 to...
FMAS:24 – Unleashing the Power of Networking
Networking has emerged as an indispensable tool for professionals seeking growth and opportunity in 2024. This is especially true at the upcoming Finance Magnates Africa Summit (FMAS:24), taking place May 20-22 at Sandton City, South Africa. The professional event is...
US January new homre sales 661K vs 680K 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,...
USDCHF stays above a cluster of support defined by 50%, 100 day and 100 bar MA on 4-hour
The USDCHF is down on the day but the decline has found support against a cluster of key support including the 50% retracement of the move down from the October high to the December low, the 100-day moving average, and the 100 bar moving average on the 4-hour chart....