GOLD PRICE OUTLOOKThe U.S. nonfarm payrolls survey will steal the limelight on FridayA weak jobs report should be bullish for gold prices, while strong data should be negative for the precious metalThis article scrutinizes gold’s technical outlook in the near termMost...
Analyst’s 3 reasons stocks going to pullback (and #4 is that Powell was “the last straw”)
RBC is expecting a pullback in US equities, citing:in the geopolitical landscape deteriorationhard landing concerns returningrecent employment data Its difficult to disagree with the first. On the second, has that ever gone away? It seems to have been around for at...
US close: S&P 500 nearly erases yesterday’s sharp decline — further gains after hours
SPX dailyThe ongoing rally in the bond market is likely been driven by US banking fears but while the KRE regional banking ETF is was 3.4%, the rest of it is just seeing it as potential reason for the Federal Reserve to cut rates sooner. It's been an impressive bounce...
New Zealand data – January consumer confidence 93.6 (prior 93.1)
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,...
Asian Economic Calendar: Key Events and Consensus Expectations for 02 February 2024
Traders in the timezone will be awaiting the US employment data Friday at 0830 US Eastern time:And (hopefully not) trying to pick bottoms in Chinese stocks. This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are...
Trade ideas thread – Friday, 2 February, insightful charts, technical analysis, ideas
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,...
NZDUSD reverses higher after weak US data, Eyes 100 bar MA test
The NZDUSD moved lower (higher USD) like most pairs today in the early US session, but after the US data came out weaker, yields started to move lower helped by regional banking concerns, the trend lower reversed and the price reversed higher.Technically, the low for...
Preview: December non-farm payrolls by the numbers
What's expected:Consensus estimate +180K (range +120 to +290K)Private +155K vs +164K priorNovember +216KUnemployment rate consensus estimate: 3.8% vs 3.7% priorParticipation rate: 62.5% priorPrior underemployment U6 7.1%Avg hourly earnings y/y exp +4.1% y/y vs +4.1%...
Crude oil settles at $73.82
Crude oil is settling at $73.82. That is down $-2.03 or -2.68%. The low price today reached the $73.70. The high price extended to $76.95. The big catalyst headline from Al Jezeera that Israel agreed to a cease-fire proposal. After some confusion and denials from...
AUDUSD has rebounded and in the process is back up testing 50% and 200 day MA. What next?
The AUDUSD at the start of the new trading day, moved lower and in the process fell below a dual technical level defined by the 100-day MA and a key swing floor near 0.6526. The price low reached down to 0.6507, but the momentum faded, and the price started to trade...
Hamas says it’s studying the latest ceasefire proposal
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,...
What a mess the cable 4-hour chart has turned into
Here is the four-hour chart of GBP/USD going back to December 12.GBPUSD 4 hourThat's six weeks of trading hell.Today it's now testing yesterday's high in a strong reversal on broad USD selling but this is the kind of chart where you do not want to get involved until...
A Qatar official says there is no ceasefire deal for Gaza yet
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,...
Al Jazeera deletes tweet saying Israel agrees to pause fighting
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,...
SocGen now sees the Bank of Japan raising rates to 0% in March
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,...
Oil drops on Israel-Hamas ceasefire
The parameters of an Israel-Gaza ceasefire aren't yet but the oil market isn't waiting for confirmation. WTI has fallen to $74.28 from $76.74 before the headlines. That's wiped out the late-January gains.oil 10 minsThe drop in oil isn't so much about Gaza and Israel;...
US stocks move to upside (and new highs) after the ceasefire headlines
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,...
Atlanta Fed GDPNow rises to 4.2%.
The Atlanta Fed GDPNow estimate for Q1 2024 growth was released earlier and increased to 4.2% from 3.0% from the January 26 estimate. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 4.2...
Al Jazeera: Qatar says Isreael has agreed to a ceasefire proposal.
Al Jeezera is reporting that:Qatar says Israel agrees to a ceasefire proposal.There has not been an acceptance from Hamas as of yet. Crude oil has moved lower and is now negative on the day at $75.49 (down around $0.30). Technically, the price has moved below the...
GBPUSD moves above the 100/200 hour MAs. Bias back to upside.
GBPUSD trades back above the 100/200 hour MAThe GBPUSD is following the dollar lower moves seen as yields in the US tumble. the market is discounting the comments from Fed Chair Powell and thinking more in terms of slower growth/higher unemployment. The regional...