The GBP/USD rallied on Friday after sharp declines on Thursday, driven by the BOE's dovish rate decision, where three members voted for a rate cut. The downward move pushed the pair below the November low of 1.24865, reaching 1.24739—the lowest level since May....
EURUSD lower on the day and below the 50% midpoint of the range since 2022
The EURUSD moved higher on Friday but stalled at 1.0446. That was just short of a swing level on the daily chart at 1.0448. Today the high price was just short of those levels at 1.04446. The price moved lower with the USD moving back higher (EURUSD lower) in trading...
US November new home sales +5.9% vs -14.8% 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,...
US December consumer confidence 104.7 vs 113.3 expected
Prior was 111.7 (revised to 112.8)Present Situation Index 145.2 vs. 140.9 priorExpectations Index 81.1 vs 92.3 prior12-month inflation expectations 5.0% vs 4.9% priorThis is a big disappointment and lands at the peak of shopping season.consumer confidence“The recent...
Tech momentum: strong gains in semiconductors as healthcare and autos show promise
Stock heatmap by FinViz.com Mon, 23 Dec 2024 14:46:15 GMTTech momentum: strong gains in semiconductors as healthcare and autos show promiseThe U.S. stock market is showing positive momentum today, primarily driven by impressive gains in the semiconductor sector....
USDJPY outlook: Key levels to watch after pullback
The USD/JPY moved lower on Friday after reaching its highest level since July 18, 2024. The pair hit a high of 157.92, entering a key swing area on the daily chart between 157.665 and 158.419, but momentum failed to hold. The release of lower-than-expected PCE data on...
How the Fed stole Christmas
The second half of December is also typically the second-strongest period of the year for US, according to Bank of America. In Presidential election years, the pattern is even stronger, with the S&P 500 up 83% of the time.That's not the case so far, with the...
Canada November PPI +2.2% vs +1.1% y/y 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,...
Canada GDP for October MoM 0.3% vs 0.1% estimate.
Prior month 0.1%Canada GDP for October 0.3% vs 0.1% estimateNovember est is 0.1% Decreases in mining, quarrying, and oil and gas extraction, transportation and warehousing, and finance and insurance were partially offset by increases in accommodation and food services...
Canadian GDP and US consumer confidence highlight the economic calendar
We've entered a traditionally-quiet time of the year in financial markets but it seems like Christmas traditions aren't what they used to be. The FX market is lively so far today with USD/JPY up another 75 pips.There is something of a sigh of relief in equities after...
What is moving and what is moving the markets to start the NA session?
It is a holiday week with Christmas eve tomorrow and Christmas day on Wednesday breaking up the action. Nevertheless the markets will be open in the US on Monday and again on Tuesday for a portion of the day. The US stock market will close early on Tuesday at 1 PM ET,...
Crypto and bitcoin – Christmas rally or nothin’ special this year?
Crypto outlook for the holidays, 23 Dec 2024 - 01 Jan 2025🎄Bitcoin futures remain range-bound as we head into the holiday season, trading between $92,000 (support) and $98,000 (resistance). While the crypto community often speculates about a "Santa rally," recent...
The Amega App Launches on iOS devices
The highly anticipated Amega App was met with universal acclaim upon its release on Android devices just a few months ago. Now, iOS users can also benefit from the unparalleled functionality and accessibility of the Amega App, as it was recently released on the App...
Gold looks poised to snap December win streak this year
Gold is down 1.3% on the month and the decline this month largely stems from a more hawkish Fed from last week. Barring a stirring rally in the coming week or so, gold looks poised to snap its seven year win streak in December in 2024 trading.Gold (XAU/USD) monthly...
Biden administration announces last-minute trade probe targeting legacy Chinese chips
The Biden administration has just announced a trade investigation into "legacy" Chinese-made semiconductors today. And that could see it lead to more tariffs on chips from China that are used for autos, washing machines and telecoms gear among other things. This...
A more muted tone among major currencies to start the holiday season
The changes on the day are light and it reflects the lack of appetite or incentive among traders to chase anything on the week. It's one of those times in markets where there isn't much of a point in trying to make sense of any moves as trading conditions are...
SNB total sight deposits w.e. 20 December CHF 456.5 bn vs CHF 456.4 bn 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,...
Spain Q3 final GDP +0.8% vs +0.8% q/q prelim
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 Technical Analysis for Christmas
Oh, oh, oh, Bitcoin Technical Analysis: Key BTC Price Levels for ChristmasWe Asked Santa to look at Bitcoin FuturesIt's worth noting that Bitcoin's price movement during the Christmas season isn't consistently bullish. However, during bullish market cycles, the...
UK Q3 final GDP +0.0% vs +0.1% q/q prelim
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,...