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,...
US weekly EIA crude oil inventories -9233K vs -2150K expected
Prior was -2492KGasoline +4913K vs +2300K expDistillates -1417K vs +348K expRefinery utilization -7.1% vs -1.2% expProduction 12.3 mbpd to 13.2 mbpdImpld mogas demand: 7.88mbpd mbpd vs 8.33mbpd priorAPI data from late yesterday:Crude: -6674K...
USDCAD surges after BOC rate decision, Hinting at potential upside momentum technically
Following the Bank of Canada's (BOC) recent rate decision, the USDCAD experienced an increase, indicating a weakening of the Canadian Dollar (CAD) against the US Dollar (USD). Prior to the decision, the USDCAD was trading around 1.3434. The BOC's decision to remove...
The Canadian dollar is falling after the Bank of Canada decision for all the wrong reasons
USDCAD 10 minsThe Canadian dollar is dropping on the Bank of Canada rate decision for the usual reasons. It's not because the Bank of Canada removed a line about possibly hiking rates -- the market has known for a long time that rate hikes were done.So why is the...
The summary of the quarterly projections from the Bank of Canada
The summary of the quarterly projections for Canada from the Monetary Policy Report shows:Looking at the prior report,CPI for 2024 sees a rise to 2.5%. In the last report, the expectation was 2.4% In 2025, the inflation rate is expected to dip to 2.1%. That is...
Bank of Canada interest rate statement for January 2024
FOR IMMEDIATE RELEASEMedia RelationsOttawa, OntarioJanuary 24, 2024Share this page on Facebook Share this page on Twitter Share this page on LinkedIn Share this page by emailThe Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at...
US January S&P Global prelim services PMI 52.9 vs 51.0 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,...
Bank of Canada holds rates unchanged at 5.00%. Drops language about being prepared to hike
The market was pricing in a 15% chance of a rate cutBOC "still concerned about risks to the outlook for inflation, particularly the persistence in underlying inflation"BOC statement no longer says it "remains prepared to raise the policy rate further if needed" The...
The BOC rate decision looms ahead. What are the technicals saying ahead of that decision?
When you go into a key event like a central bank rate decision, the potential for a fundamental move in the price action increases. That is reflective in the technical levels too. IN this video I outline what would need to happen to increase the bearish bias (the bias...
China finally turns on the taps. Is this it?
China is the big focus today after a not-entirely-surprising RRR cut. It came earlier than expected but the rumblings were certainly there.That it came after a leak about offshore fund repatriation to buy Chinese equities can hardly be seen as a coincidence.I wrote...
iFX EXPO Dubai 2024 Highlights – Industry Looks Ahead to LATAM Event
The largest online trading expo in the MENA region, iFX EXPO Dubai 2024, concluded last week after months of anticipation. Taking place in a major MENA fintech hub, the expo was heralded as a major success, drawing a crowded exhibition, engaging panels, and a record...
Kickstart your FX trading for January 24 with a technical look at 3 major currency pairs
The kickstart video is a way to look at the three major currency pairs:EURUSDUSDJPY, andGBPUSDAnd get a technical feel for each of those pairs. What is the bias? What are risks and targets.EURUSD: The EURUSD reversed higher in trading today after yesterday's failed...
USD/JPY breaks yesterday’s low as the dollar selling continues
hourly USD/JPYUSD/JPY bottomed at 146.96 yesterday on comments from Ueda after the BOJ decision. The pair then rebounded strongly on broad US dollar strength to 148.55. However it's slumping again today after China cut the RRR by 50 bps in a sign that Beijing is...
The PMI train continues to roll in US trading. The BOC decision is coming up
The global PMIs have been rolling in throughout the day with the French one particularly weak and Europe showing signs of renewed softness. That hasn't deterred the euro bulls as EUR/USD has climbed 50 pips to 1.0903, erasing yesterday's decline.That's on general USD...
The JPY is the strongest and the USD is the weakest at the US session begins.
The strongest to the weakest of the major currenciesThe JPY is the strongest and the USD is the weakest at the US session begins. The USD has been hit after gains yesterday did not get follow-through price action:The EURUSD Fell below its 200-day MA intraday yesterday...
ForexLive European FX news wrap: Dollar falls amid better risk appetite, PBOC cuts RRR
Headlines:Markets:JPY leads, USD lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields down 3.7 bps to 4.105%Gold up 0.2% to $2,033.14WTI crude down 0.4% to $74.05Bitcoin up 2.5% to $40,154It was an active session in Europe today with...
US MBA mortgage applications w.e. 19 January +3.7% vs +10.4% 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,...
German economy to take a further knock on China struggles – Bundesbank
The central bank adds that while that is a tough scenario for the economy, an outright decoupling from China would be much worse for Germany in any instance.According to its simulations, real German GDP would be 0.7% lower in the first year of any economic crisis in...