Dow jones futures: Potential market correction with technical analysis - see video📉In the dynamic realm of investing and trading, keen insight into market trends and patterns is indispensable for savvy investors. A closer look at Dow Jones futures offers a compelling...
AUDUSD is erasing gains from better employment data and moves back into cluster of MAs
The AUDUSD moved higher earlier today after the monthly employment data was much stronger than expectations. The unemployment rate fell to 3.7% from 4.1% last month. The employment change showed a gain of 116.5K versus 39.7K estimate. That data helped to propel the...
Cable sinks to a two-week low following the BOE decision
A June Bank of England rate cut is increasingly seen as the base case as market-implied odds rose to 75% today from 60% following the BOE decision.Out to year-end, the market sees 70 bps in cuts.Bailey said that even though they aren't there yet on rate cuts, things...
The USDCAD chart is sloppy as the ups and downs continue.
The USDCAD has been chopping higher and lower for several weeks now. The price action is between a channel that is tilting to the upside but with all the up and down volatility, neither the buyers and sellers are "winning" for long. Today, the price based at the 38.2%...
Canada just posted its fastest two-month immigration in history. What happens next?
Immigration is a hot topic in Canada due to housing unaffordability and a crunch in public services. The chart below highlights why:I strongly suspect the 2025 (or sooner) Canadian election will be fought over immigration and public polls have shown a sharp turn in...
Reddit Shares Debut in Public Markets
Starting today, Reddit stock hits the market. The company set its initial public offering (IPO) price at $34 per share on Wednesday evening and is ready to commence trading on Thursday on the New York Stock Exchange (NYSE) with the symbol RDDT.Reddit filed for its IPO...
BOE’s Bailey: It’s reasonable that markets are pricing in rate cuts this year
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,...
Dollar moving higher with new highs vs many of the major currency pairs
THe USD has moved to new highs vs a number of the major currencies. It is not the strongest of the major currencies:The USD is now the strongest of the major currenciesHelping is a move higher in rates, but also some better data in the US including continued jobless...
BOC’s Gravelle: February inflation data was very encouraging
Canadian February CPI was at 2.8% compared to 3.1% expected in the second big downside miss. Desjardins was out with a report this week highlighting how the Bank of Canada's core inflation measures are skewed. It says the BOC's reliance on CPI-median and CPI-trim...
US sues Apple in anti-trust case
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 dollar firms on a solid slate of data
There has been a full slate of US economic data today and the picture is of an economy that's still strong.If you squint, you can see some softening but it's balanced by forward-looking optimism. Here was the slate:The services PMI was the only miss but the...
Gold Pulls Back from All-Time Highs, But What is the Longer Term Outlook?
European PMI data for Services and Manufacturing sectors again fall and indicate further pressure within the European markets. The Pound declines as dovish members of the Monetary Policy Committee outnumber the hawks. The Pound is seeing the strongest decline against...
The SNB surprised with a cut today. What are the chart saying for USDCHF and EURCHF now?
The Swiss National Bank surprise the market by cutting rates by 25 basis points. That sent the CHF lower vs both the USD and the EUR. In this video, I take a look at both the USDCHF and the EURCHF from a technical perspective. The USDCHF is running to new 2024 highs...
US existing home sales for February 4.38M vs 3.94M 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 March flash S&P Global services PMI 51.7 vs 52.0 expected
Three-month lowPrior was 52.3Manufacturing 52.5 vs 51.7 expectedPrior manufacturing was 52.2Composite 52.2 vs 52.5 priorThis is a small miss but the direction is lower, highlighting some subtle weakening in the US economy.Commenting on the data, Chris Williamson,...
BOC’s Gravelle: We will continue process of normalizing balance sheet
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 PMIs from S&P Global coming up next
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,...
New record highs for the major indices
The major US indices are opening with gains led by the NASDAQ index. Those moves have each of the indices trading at new record levels. Yields are marginally lower in the US. Swiss National Bank surprised with a interest-rate cut which may have other central banks...
US stocks set to surge to a fresh record at the open
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,...
Kickstart your FX trading for March 21 w/a technical look at the EURUSD, USDJPY and GBPUSD
There is a lot of news to digest. The Swiss National Bank surprised the markets with a interest-rate cut, leading the way on the cut side for the major currencies (the Bank of Japan raised rates earlier this week). The Federal Reserve kept the rates unchanged...