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,...
USDCAD trades above and below its 200 day moving out at 1.34806.
The USDCAD has moved higher this weekend in the process extending above its 200 bar moving average on the 4-hour chart at 1.34187, and then the 38.2% retracement of the move down from the November 2023 high. The price also broke above its 200-day moving out at 1.34806...
US stocks turn into positive territory, Treasury yields dip
Impressive bids have emerged in stocks and the front-end of the Treasury curve.I wrote earlier who dovish comments from Waller could turn around the market but buyers haven't even waited for the headlines. Waller is set to speak at the top of the hour.US 2-year yields...
ECB’s Centeno: We should avoid undershooting on inflation
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,...
AUDUSD approaching critical support at 200D MA amidst USD strength & China growth concerns
The USD is higher today, and the AUD is not missing that trend. The pair is down for two consecutive days this week. Fears of lower China growth is also an influence in the downward trend. Technicals are also playing a role.Technically, the price yesterday moved below...
How today’s speech from Waller could turn around the market
The highlight of the economic calendar today is an 11 am ET (1600 GMT) speech from Federal Reserve Governor Christopher Waller.In November, he supercharged Fed rate-cut expectations when he said:"I am encouraged by what we have learned in the past few weeks—something...
USD/JPY trades at a fresh one-month high as yields climb
USD/JPY continues to retrace the rout from late in 2023. The pair added another 86 pips today, hitting 146.60, which is the highest since December 6 and completely wipes out the post-FOMC drop in the dollar.The level I'm watching is 147.46, which is the 61.8%...
A lower start to the shortened trading week in the US.
The major US stock indices are opening a lower in the shortened trading week. The markets were closed yesterday in observance of the Martin Luther King day holiday. Last week the major indices moved higher led by the NASDAQ index which gained 3.09%. The S&P index...
Kickstart your FX trading for January 16 with a technical look at EURUSD, USDJPY & GBPUSD
In the morning kickstart video, I take a look at the 3 major currency pairs - the EURUSD, USDJPY and GBPUSD - and outline the technicals that are driving the pair. For each, they are making a break today. So understanding the new dynamics is important for your...
Markets are skeptical of the worst Empire Fed survey since the pandemic
The Empire Fed fell to -43.7 in January from -14.5 previously.It's the earliest manufacturing data point of the month and at first glace it suggests a sharp contraction in activity. New orders plunged to -49.4 from -11.3.The dollar fell around 20 pips across the board...
US Empire manufacturing index for January -43.7 versus -5.0 estimate
Yikes...The spigot from manufacturing in NY was quickly turned off. This reading is the lowest since May 2020 at the height of the pandemic with.NY empire manufacturing indexPrior month -14.5 (the expectations last month was for a gain of 2.0). The decline last month...
Canada December CPI 3.4% y/y vs 3.4% expected
Prior was 3.1%CPI m/m -0.3% vs -0.3% expectedCore measuresCPI Bank of Canada core y/y 2.6% vs 2.8% last monthCPI Bank of Canada core m/m -0.5% versus +0.1% last monthCore CPI MoM SA +0.1% vs +0.3% last monthTrim 3.7% versus 3.5% last monthMedian 3.6% versus 3.4% has...
Canada Dec housing starts 249.3K vs 243.0K 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,...
ForexLive European FX news wrap: Dollar jumps higher alongside yields
Headlines:Markets:USD leads, AUD lags on the dayEuropean equities lower; S&P 500 futures down 0.4%US 10-year yields up 6.2 bps to 4.012%Gold down 0.8% to $2,038.94WTI crude up 0.5% to $73.07Bitcoin up 0.8% to $43,042It was one-way traffic in European trading today...
The antipodean currencies fall to fresh five-week lows against the dollar
The dollar continues to stay strongly bid in European trading today and that is pitting the antipodean currencies at the lows for the day up against the greenback. AUD/USD is down 1% to 0.6595 currently and NZD/USD down 0.8% to 0.6150 as both currency pairs are seeing...
USDCAD Technical Analysis – Key breakout opens the door for much higher prices
USDThe Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment...
China premier Li Qiang says economy estimated to have grown by 5.2% in 2023
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,...
Germany January ZEW survey economic sentiment 15.2 vs 12.0 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,...
Magnitude 4.8 earthquake reported in Ishikawa prefecture in Japan
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,...
Gold’s latest bounce runs into trouble in fall to key near-term technical levels
The near-term chart highlights better the technical picture in gold at the moment:Gold (XAU/USD) hourly chartThe jump higher on Friday stalled at around $2,060, coinciding with the 61.8 Fib retracement level of the swing lower to start the new year. Since then, gold...