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,...
Taiwan heads to the polls on Saturday: Maybe for the last time
Voters in Taiwan head to the polls on Saturday in a three-party race between:Democratic Progressive Party (DPP) Kuomintang (KMT) Taiwan People's Party (TPP)The DPP currently has a majority with 63 seats followed by KMT with 38 and TPP with 5. The DPP is the most...
Baker Hughes oil rigs -2 in the current week to 499
The weekly Baker Hughes rig count data is showing:Oil rigs -2 to 499Gas rigs -1 to 117Total rigs -2 to 619..The price of WTI crude oil is trading up $0.50 or 0.69% at $72.52. That is well-off the high price of $75.25. The low price today has reached $72.36. The move...
EURJPY tests cluster of technical levels creating a low risk opportunity to buyers/sellers
The EURJPY is testing a cluster of technical levels including the 100 hour MA, the 100 day MA and the 50% all within a few pips of each other. Below that - and not far away- is the low of a swing area. With several technical levels centered in a fairly narrow range,...
The ups and down in the USDCAD continue.The buyers are shifting toward more control again.
The USDCAD is pushing back to the upside in what has been a volatile up-and-down trading day. That is congruent with a volatile up-and-down trading week. The high price this week was reached yesterday when the price extended above a swing area between 1.3398 and...
US dollar rebounds as the market mood sours
This has been a tricky week to trade as it's been a series of U-turns in almost everything. The latest one is in the US dollar as risk trades begin to sag. The commodity currencies have now given up all their gains and are trading flat.The S&P 500 is only down 8...
Bitcoin extends decline to 6%. What’s next
The ETFs came and yesterday's volume numbers were big but not as big as I thought they would be for some of the most-hyped financial products ever created. Now the pain trade is hitting with bitcoin down nearly 6%.I also wonder -- if on-exchange ETF buyers are now the...
US Dollar at Critical Juncture after US CPI, Setups on EUR/USD, USD/JPY, GBP/USD
Trade Smarter - Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Are Gold Prices and the Nasdaq 100 at Risk of a Large Correction?U.S. interest rate expectations have shifted in...
Oil gives back most of today’s gains
The rule of thumb on geopolitical moves in oil is to fade the pops. Today's rip on Yemen bombing is yet-another example. WTI crude oil traded as high as $75.28 but has slid all the way back to $73.05. It's still up $1.09 on the day but it's tough for 'fear of war' to...
Another rejection of the all-time closing high in the S&P
S&P failing on break above all-time high closeThe all-time high close for the S&P index is at 4796.57. Back on December 28, the high price reached 4793.19 and backed off. Yesterday the high price extended above the all-time high close reaching 4798.50, but...
Attention shifts to the Fed’s preferred measure of inflation
The question on everyone's mind today is: Why is the bond market rallying so hard?US 2-year yields are down 11 bps and Fed funds now price in 164 basis points of cuts.US 2 year yields dailyOne answer may be that indications for the Fed's preferred measure of inflation...
The USDCHF sees buyers turn to sellers and the price moves back to a key swing level
The USDCHF has moved lower after the weaker-than-expected PPI data. That news sent yields in the US tumbling to the downside, and has now pushed the price of the USDCHF below its 100 and 200 hour moving averages near 0.8508 (dollar selling). The low-price extended to...
The incredible bid in US 2-year notes continues
US 2 year yieldsIt's tough to put into words how big and difficult-to-explain the moves at the front end have been yesterday and today.CPI was hot yesterday and US 2s moved up to 4.39% from 4.33% but within hours that was erased. Later yesterday, yields fell further,...
S&P sitting on the high all-time close to start the trading day.Dow trades to a new record
The S&P index is open, higher and trading above and below the all-time highest close ever at 4796.57 The gains are modest. Yesterday, the S&P did move above that level again and backed off. Is today the day?S&P index is testing its all-time high closing...
Kickstart the FX trading for Jan 12 with a technical look at the EURUSD, USDJPY and GBPUSD
The US PPI data today came in weaker than expectations. That data neutralize the stronger-than-expected CPI data from yesterday. That inflation storyline is congruent with the price action in currencies. There is little upside. There is little downside. The details on...
The state of the US consumer and the economic risks, according to JP Morgan
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,...
Crude Oil Latest: Heightened Geopolitical Tensions Push Oil Prices Higher
Oil Analysis, Prices, and ChartsTraders concerned over potential retaliatory attacks.Supply chain fears over further Red Sea shipping disruption.Learn how to trade Oil with our complimentary guide: Recommended by Nick Cawley How to Trade Oil Get My Guide Financial...
Weekly Market Recap (08-12 January)
Fed’s Logan (hawk – non voter) over the weekend said that the Fed shouldn’t rule out another rate hike given the recent easing in financial conditions and added that it’s appropriate to consider a slowdown in the pace of the Fed’s balance sheet runoff (although we...
Dollar dips after tame PPI data
The market's reaction to the tame US United for December shows:USD lowerStocks higherYields lower.IN the forex:The USDJPY is back down toward its 100-day moving average of 144.87. Earlier today, the price, the price moved back down toward that 100-day moving average...
US December PPI 1.0% vs 1.3% 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,...