The USD opened the North American trading session lower on the day, and continued that move in the first few hours of trading in the session. However, flash manufacturing and services PMI came in stronger than expected and a rotation to the upside was started. The...
US Dollar Forecast: US Q4 GDP in Focus, Setups on EUR/USD, USD/JPY, GBP/USD
US DOLLAR OUTLOOK – EUR/USD, USD/JPY, GBP/USDThe U.S. dollar lost ground on Wednesday despite better-than-expected U.S. economic data, but the tide may turn in its favor in the coming daysMarket attention now turns to the fourth-quarter U.S. GDP reportThis article...
The ECB has asked some banks to monitor social media for early signs of bank runs
An interesting, if perturbing, piece from Reuters overnight, citing two unnamed, 'banking executives' as sources. In brief:European Central Bank has asked some banks to closely monitor activity on social media to detect a worsening in sentiment which could lead to a...
Economic calendar in Asia on Thursday, 25 January 2024 is nearly empty: RBA Bulletin
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,...
Trade ideas thread – Thursday, 25 January, 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,...
Tesla earnings: A miss on the top and bottom line
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 stock markets limp into the close, dulling a strong start
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,...
Canadian dollar falls after the Bank of Canada decision. What’s next
USD/CAD weeklyUSD/CAD is on track to close above 1.3500 for the first time this year after climbing nearly a full cent in the aftermath of today's Bank of Canada rate decision.The consensus belief on the move higher in the pair today (i.e. the decline in CAD) is that...
Houthis claims to have directly hit a US military ship
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,...
USDCHF dips but finds support, signaling potential reversal
Yesterday, the USDCHF experienced an upward movement, reaching a key swing area between 0.8711 and 0.87314. The pair initially moved away from the 38.2% retracement level of the downward trend from the October high to the December low, which is at 0.86803. Despite...
US equities fade as yields and earnings angst weigh
The S&P 500 has notched three straight closing record highs and looked to be cruising on its way to a fourth earlier today. However the index has now given back most of its gains with the S&P 500 up 15 points after rising as much as 35 points.The index is now...
Tesla earnings will be released after the close
Tesla will report earnings after the close EPS is expected at $0.73 per share vs $1.19 in the same quarter last year. Revenues are expected at $25.62 billion revenue vs. $24.32 billion in the same quarter last year.Full-year earnings are projected to decline by 22% to...
US sells 5-year notes at 4.055% vs 4.035% WI
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,...
April BOC cut on the table but June still base case — CIBC
The Bank of Canada dangled some hints that interest rate cuts are coming later this year but offered no clear indications on when that might be.With that, CIBC left its forecast for the first cut in June and 150 bps in total cuts, with a 50 bps cut possible at some...
European traders heads home for the day with stock gains
European traders are heading for the exits with stock gains in their pockets. The snapshot of the closing levels are showing:German DAX +1.58%France CAC +0.91UK FTSE 100, 0.56%Spain's Ibex was 1.16%Italy's FTSE MIB +0.87%Looking at the US stock markets as Europe calls...
Oil gets interesting as it rises to the highest levels since Christmas
Hourly WTIIt has been an unpleasant month for oil traders. Crude has risen $4 this month but it's been a rough road getting there with repeated whipsaws intraday and extreme choppiness in trading.Headlines about the Red Sea have been faded over and over again despite...
A technical look at the three commodity currencies – the USDCAD, AUDUSD and NZDUSD.
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BOC Macklem:We are not forecasting a recession nor think we need one to get inflation down
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 stocks continue its move higher
The major indices are all higher as the market melts up ahead of the key earnings. Next week the likes of Microsoft, Apple, Amazon, Alphabet will all report. After the close today Tesla, IBM, servicenow, and Lam Research will announce their earnings. The fear of...
Macklem Q&A: Need more progress on inflation before discussing cutting rates
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,...