The US did not urge Israel to not retaliate like they did no April. but the US did say that they did not condone a strike of Iranian nuclear facilities as a caveat.Meanwhile Isreal is continuing their assault in Beirut, Lebanon and targetting Hezbollah strongholds and...
Fed’s Goolsbee: Retailers stockpiled ahead of the dockworker strike
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 net hiring remains negative, signaling continued labor market softness
Eyes are on the US jobs market as the Fed tries to keep unemployment from rising above 4.4%. Some highlights of the Challenger report:September job cuts up 53% y/y, but down slightly from AugustLayoffs 69% above pre-COVID average in September, improving from 81% in...
Oil price climbs to 6-week high, breaks key resistance levels
The price of crude oil has moved higher today and is breaking above a double top on the hourly chart as well as the 50% midpoint of the move down from the August 13 high. Those levels come in at $72.36 and $72.67 respectively. The break higher took the price up toward...
European equity close: Italy lags after windfall tax talk
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,...
OPEC Sept output fell 390k bpd on Libyan outages – survey
OPECReuters is out with its latest secondary sources survey of OPEC oil output and it has production down 290k barrels per day in the month to 26.14 mbpd.Libyan output was down 300k bpd with the remainder of the bloc producing an additional 10k bpd. The survey also...
MUFG: Revised BOE rate outlook and GBP implications
MUFG has revised its outlook for the Bank of England (BoE), now expecting back-to-back rate cuts before year-end. This adjustment reflects growing evidence of decelerating economic growth in the UK.Key Points:Recent sentiment indicators, including the GfK consumer...
The NZDUSD and the AUDUSD has moved lower,but are finding dip buyers near targeted support
In this video, I take a look at 2 of the commodity pairs from the Asia-Pacific area. Both the NZDUSD and the AUDUSD are trading lower today breaking support targets on the way, but each is also reaching support targets and finding some buyers against the levels. What...
Biden: US is discussing Israel striking Iran oil facilities
The President said the the US is discussing Israel striking Iran oil facilities, according to Bloomberg.There is some important nuance in this statement:Biden was asked if he would support the US supporting Israel striking Iran's oil facilities. Biden responded: We...
US factory orders for August -0.2% versus 0.0% 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 September ISM services 54.9 vs 51.7 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 President Biden says not expecting Israeli response to Iran today
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,...
Mixed signals: Tech edges up while consumer sectors falter
Stock heatmap by FinViz.com Thu, 03 Oct 2024 13:46:04 GMTMixed signals: Tech edges up while consumer sectors falterThe US stock market is sending mixed signals today, with technology stocks finding some traction while consumer sectors face headwinds. Investors...
Major US stock indices are trading lower to start the day
The major US stock indices are trading lower at the start of the trading day. Just ahead of the PMI nonmanufacturing data, the:Dow industrial average is down -254.84 points or -0.60% at 41941.68S&P index -13.29 points or -0.23% at 5696.25.NASDAQ index -7.63 points...
US September final S&P Global Services PMI 55.2 vs 55.4 prelim
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,...
The story remains the same for the USDCHF as the “Red Box” resistance target stalls rise.
If you have been reading or watching my videos, I have been harping on the up-and-down trading range in the USDCHF with 0.83996 as the floor and 0.85368 as the ceiling. Today, the price moved higher after weaker CPI data in Switzerland. The price high reached up to...
Canada S&P Global services PMI falls to six-month low, employment drops
Services PMI drops to 46.4 from 47.8, signaling accelerating contractionNew business falls at fastest clip since December 2020Employment declines sharply, most since July 2020Inflation pressures ease, but remain elevatedFirms pin hopes on future rate cuts to boost...
US stocks set for some selling at the open but Nvidia perks up
S&P 500 futures are down 17 points shortly before today's open. One stock in focus is Nvidia, which is up 1.8% pre-market. Late yesterday, CEO Jensen Huang said on CNBC that demand for its next-generation Blackwell chips is "insane"."Everybody wants to be first...
Kickstart the FX trading day for Oct 3 with technical look at the EURUSD, USDJPY & GBPUSD
As the US session gets started the EURUSD and USDJPY are consolidating the recent moves (lower for the EURUSD and higher for the USDJPY). The GBPUSD is sharply lower after BOE's Bailey signalled the central bank may be more aggressive with easing. In the kickstart...
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