Bitcoin touched an all-time high of $69,202 just over two hours ago but the brief moment of exhilaration was met with a wave of pain as sellers used the headline to take profits.The turn is something I warned about earlier. Prices have quickly fallen to $64,000 in a...
European equity close: Some cheering for lower yields, some skepticism
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,...
Nasdaq index is sharply lower today and in the process tests the key 100H MA. What next?
The Nasdaq index is sharply lower today and in the process tested its key 100 hour moving average at 15913.60. Support buyers came in against that technical level and have so far held support. Prices bounced back up toward the 15950 currently.Looking back, the price...
Buyers in the AUDUSD push the pair to swing level and MA resistance at 0.6524. Stay below.
Traders in the AUDUSD have pushed the price of the pair higher in the US session and in the process, tested the swing level starting back in August 2023 near 0.6524, and also it's 100 bar moving out on the 4-hour chart at 0.65238. That level is a resistance target...
Facebook and Instagram are down, tech stocks slump
Tech stocks are at the lows of the day, with the Nasdaq down 1.8% in a broad based selloff led by Tesla (-4.9%) and Apple (-3.0%). Tesla has been struggling with EV demand fears and today was hit by a fire at its Berlin factory that will keep it offline all week....
EURUSD buyers making a break for it… Price moves above the 38.2% retracement
The EURUSD is making a "break for it", and with that has now extended the narrow trading range for the day and also moved above the 38.2% retracement of the move down from the December high to the February low. That level comes in at 1.08640 and will now be a close...
Bitcoin rises to all-time high above $69,000
Bitcoin hourlyA soft US ISM services report led to a round of US dollar selling and improving risk appetite in financial markets. That was the final nudge bitcoin needed to get above $69,000 for the first time ever.The 2021 top briefly broke in a rise to $69,200...
US factory orders for January -3.6% versus -2.9% 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,...
ISM February services index 52.6 vs 53.0 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 February final S&P Global services PMI 52.3 vs 51.3 prelim
Prelim was 51.3Prior was 52.0Composite index 52.5 vs 51.4 prelimPrior composite index 52.0New business inflows have now risen for four straight monthsThe rate of input cost inflation eased again to the slowest since October 2020 Business confidence dropped to the...
US stocks open lower with the NASDAQ index down 1% in early US trading
The major US indices are opening lower with the NASDAQ index is leading the way with the decline near 1%. They moved lower today would be the second consecutive down day after record closes in the NASDAQ and S&P on Friday.A snapshot of the market currently...
Attending IBs and Affiliate Expos – All You Need to Know
Attending leading events or expos for introducing brokers (IBs) and affiliates is not just an option but a strategic imperative for professionals looking to stay ahead of the competition in 2024. These events serve as the ultimate melting pots of industry insights,...
USDCAD finds willing sellers versus the high from last week and backs off
The USDCAD moved up to test the high from last week earlier today and backed off near 1.3605. Having said that, the pair last week moved above both its 50% midpoint of the move down from the November 1 high to the December low and also it 100-day moving average. Those...
USD/JPY slides alongside Treasury yields. Tests 150.00
USD/JPY 30 minsThe US dollar is under some pressure as Treasury yield sink. US 10-year yields are down 6.1 bps to 4.15%, which is the lowest since February 13. That drop is weighing on USD/JPY, which is down 49 pips to 105.02.What is driving the move?I'm tempted to...
Is Manual Labor Fading Away, and Should We Brace for Impact?
Productivity has become a crucial concept, considered one of the main drivers of economic growth and competitiveness. However, its definition continues to evolve.For example, the go-to measure in the past was apparent labor productivity: how much a worker or an hour...
New Zealand GDT price index -2.3%
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 day for March 5 with a technical look at the EURUSD, USDJPY and GBPUSD
To kickstart the US trading day, the above video takes a look at the technicals that are driving the three major currency pairs – the EURUSD, USDJPY, and GBPUSD. What are the technical bias's, the risks, the targets and why will be discussed in this video. What we...
European Producer Inflation Falls -0.9%, But Eyes Fixed on The ECB
The Euro declines against the US Dollar and the Japanese Yen but increases against other European currencies. These include the Swiss Franc and Pound. Investors have their attention fixed on the upcoming Interest Rate Decision by the European Central Bank. The...
Gold hits an all-time high. What’s driving the bids
gold dailyGold is trading like a crypto coin this week.It's up another $22 today to $2137, which breaks the Asian spike high from early December. It's the third straight day of gains in a clear breakout above the $2000/$2100 level that's held up gold several times...
Economic data is in charge: US ISM services highlights the calendar
ISM servicesThe theme so far in 2024 has been the dominance of economic data. Each release re-calibrates Fed expectations and all the market pricing that's built around it.A great example was on Friday when a series of soft second-tier data led to a slump in the US...