The major European indices are closing higher in the day led by Spain's Ibex which is higher by 1.08% today: German DAX, +0.97%France's CAC +0.52%UK's FTSE 100 +0.57%Spain's Ibex +1.08%Italy's FTSE MIB +0.84%As London/European traders head for the exits, US indices...
USDCAD finds buyers near the rising 100 hour MA today. Upside work is still needed.
The USDCAD is finding buyers against its rising 100 hour moving average currently at 1.35756 (see rising blue line on the chart below). Stay above that moving average will keep the buyers more in control. Also in play is a 200 day moving average at 1.35889.On the...
US August budget deficit -$380 billion versus estimate -$317.3 billion deficit
US national debtThe August US budget deficit data was released early. It was expected later this afternoon. US August 2024 budget deficit $-380 billion versus $-317.3 billion estimateAugust 2023 surplus was $89 billionFiscal 2024 year-to-date deficit $1.897 trillion...
Gold is precious in the eyes of investors. The precious metal breaks to new all-time highs
The price of gold has been trading between $2471 and $2531 since August 16. There have been a number of different times the price low has been tested and a number different times the price high has been tested.Today, however, the price made a break for it above the...
USDCHF moves above the 38.2% of the last move lower from the mid-August high.
Yesterday, the USDCHF moved above its 100 hour moving average, eight 200 hour moving average, and its 100 bar moving average on the four hour chart. All those breaks help the pair move up toward the 38.2% retracement of the move down from the mid August high. That...
Kickstart the FX trading day for Sept 12 w/a technical look at the EURUSD, USDJPY & GBPUSD
In the kickstart video for September 12, I take a look at three the major currency pairs from a technical perspective - the EURUSD, USDJPY and GBPUSD.The USD is lower after they PPI data and the ECB rate decision to cut interest rates. All was much as expected so the...
Tech stocks wobble: Communication services shine while energy holds steady
Stock heatmap by FinViz.com Thu, 12 Sep 2024 13:46:12 GMT📊 Sector OverviewThe US stock market showcased a mixed bag today, with a notable divergence across sectors. A close look reveals that communication services led the charge with robust performances, while the...
US stocks opened modestly higher
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 stock futures point toward modest changes in the major indices
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 lower after PPI data. Sellers in control.
The US PPI data was more or less as expected. It did not change any projections for Fed policy decision next week which is centered on a 25 basis point cut.Nevertheless, the USDJPY has been moving back to the downside. Helping the bias is the inability to stay above...
Highlights of the ECB press conference for September 2024
The EURUSD is trading at 1.1026 as the press conference begins. The high for the day has reached 1.1032 after the decision. The 100 hour MA looms above at 1.10416Headlines from commentary: Recovery is facing headwindsExpect the recovery to strengthen.Fading monetary...
To watch ECB Press conference LIVE
To watch the Press conference live, click above.The Full statement:The Governing Council today decided to lower the deposit facility rate – the rate through which it steers the monetary policy stance – by 25 basis points. Based on the Governing Council’s updated...
Canada Building permits for July 22.1% vs 7.1% 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 PPI final demand MoM for August YoY 1.7% vs 1.8% estimate. MoM 0.2% vs 0.1% est.
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 weekly initial jobless claims 230K vs 230K expected
Prior 227K; revised to 228K4-week moving average 231KPrior 230KContinuing claims 1.850M vs 1.850M expectedPrior 1.838M; revised to 1.845MThe headline figure continues to keep somewhat steady but at least down from the high of 250K last month. Continuing claims rose...
Comparing the ECB August statement to the September statement
18 July12 September 2024The Governing Council today decided to keeplower the three key ECB interest rates unchanged. The incoming information broadly supportsdeposit facility rate – the rate through which it steers the monetary policy stance – by 25 basis points....
ECB cuts deposit rate by 25 bps in September monetary policy decision, as expected
Prior decisionDeposit facility rate 3.50% vs 3.50% expectedPrior 3.75%Main refinancing rate 3.65% vs 3.65% expectedPrior 4.25%Marginal lending facility 3.90%Prior 4.50%It is now appropriate to take another step in moderating the degree of monetary policy...
ForexLive European FX news wrap: Light movements ahead of ECB decision, more US data
Headlines:Markets:AUD leads, CHF lags on the dayEuropean equities higher; S&P 500 futures up 0.1%US 10-year yields up 1.7 bps to 3.670%Gold up 0.2% to $2,516.57WTI crude up 1.7% to $68.45Bitcoin up 1.0% to $58,057It was a quieter session as markets are lacking any...
S&P 500 Technical Analysis – Back inside the old range
Fundamental OverviewYesterday, we got the US CPI report and, although as expected it didn’t have the same large impact as it used to, the core m/m figure surprised to the upside. The data triggered a repricing in interest rates expectations with the market now seeing...
Euro remains boxed in ahead of the ECB later
In FX, the changes are light overall with dollar pairs keeping in relatively narrow ranges thus far today. The euro is in focus amid the ECB later but there shouldn't be any real surprises from the decision itself. EUR/USD is trapped today in a 17 pips range and...