The USDCHF made a break above the ceiling from last week at 0.8761 today, but the move to the upside could only get about 11 pips to 0.8772 before stalling. The price has since moved back below the old ceiling at 0.87611. Will buyers turn to sellers?In the short term,...
Bitcoin surges above $50,000, setting new high going back to December 2021
The price of bitcoin has moved above the $50,000 level for the first time since December 2021. The high price reached $50,204 so far.Looking at the daily chart, the price is also about the 61.8% retracement of the move down from its all-time high. That level comes in...
USDJPY extends to the upside after testing a key support target at session lows & bouncing
The USDJPY moved lower in the Asian/European morning session and in the process tested the ceiling high from 2024 between 148.80 and 148.88. The low price got within four pips of the high of that swing area before rotating back to the upside. Holding that support,...
ECB’s Wunsch says the risks on inflation are quite limited
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,...
European equity close: Great start to the week
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,...
It’s just breathtaking
I wrote on the weekend about the power of the winning culture in US business and it's on full display again today. It's only a 0.3% rise in US stocks but look at this chart of the S&P 500.SPX dailyAt this point it seems poking holes in it is futile. It's the same...
US 10-year yields flirt with the highs of the year
US 10 year yields dailyGiven what stocks and economic data are doing, it's starting to look like US 10-year yields could break above this range. Tomorrow is the US CPI report and I get the sense the bond sellers are waiting for some kind of green light. Given the...
Nasdaq gets within 8 points of all time high closing level
NASDAQ index got within eight points of all time high closeThe major indices are all positive with the NASDAQ index leading the way with a gain of 0.29% at 16036.91. The high price reached 16049.43. That high price got within eight points of its all-time high closing...
NY Fed three-year inflation expectations 2.4% vs 2.6% 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,...
Bitcoin breaks the ETF spike high in seventh straight day of gains
Bitcoin dailyBitcoin has broken the spike high on ETF launch day and is now gunning for $50,000.It's rallied for seven straight days and is up another 4.5% today, or $2100. The sell-the-fact trade on the ETF launch led to a 20% drop but it's quickly made up the...
AUDUSD faces resistance at swing level and key MA
The AUDUSD is trading higher and lower in trading today in a narrow range. The high prices, however, have been able to stay below its 100-day moving average at 0.65317. The high price for the day came in at 0.65306. Also in play is a swing area at 0.65229. That level...
USDCAD trades up and down with sellers making a play technically
The USDCAD trades up-and-down with sellers now making a play technically. More specifically, the price has moved below its 100-hour moving average and 100 bar moving average on the 4-hour chart near 1.3458 area. The high for the day in the early North American session...
Fed’s Bowman: Too soon to prject when and how much the Fed will cut
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,...
ECB’s Cipollone: No need for mon pol to create further slack
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,...
Gold falls to a two-week low as China settles in for holidays
The period of seasonal strength for gold usually ends with the start of lunar New Year holidays and here we are. The seasonal trade didn't work great this year but I strong suspect that's because it was swamped by hawkish shifts in monetary policy expectations due to...
US Inflation: A Crucial Juncture for Policy and Markets
Central banks are in a holding pattern for now. With rates seemingly having topped out in North America, Europe, and most of Asia, it is widely assumed cuts are the next policy step. But policymakers have been working overtime to contain expectations for imminent...
US stocks mixed to start the trading week
US stocks are mixed to start the trading week. Last week the major indices posted gains for the fifth consecutive week and the 14th of the last 15 trading weeks. Wow. Last week the S&P index closed the week above 5000 for the first time ever (and at record levels...
No comments on the economic outlook from the Fed’s Bowman
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 the FX trading for February 12 with a technical look at EURUSD, USDJPY & GBPUSD
The kickstart FX video takes a technical look at the EURUSD, USDJPY and GBPUSD. The USD was mixed to start the US trading day but is starting to move higher versus the three major currency pairs.EURUSD is now back below its 100-hour moving average 1.07706, and the...
US dollar perks up, commodities skid
Some US dollar bids have emerged early in North American trading, helped along by an uptick in Treasury yields.I don't see a clear catalyst for the dollar move but it's boosted up USD/JPY to 149.20 from 148.95.USDJPY 10 minsOther dollar moves have been smaller so...