A report says that Rishi Sunak is holding a full cabinet meeting at 7:45 pm this evening, which is just over an hour away.There is speculation that it's about UK and US strikes on Houthis in Yemen.At this point, attacks would be no surprise but whether that's enough...
Fed’s Barkin: I’m looking to be convinced that inflation is headed to target
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,...
U.S. Treasury auctions of $21 billion of 30 year bonds at a high yield of 4.229%
High Yield 4.229 with a six-auction average of 4.399%.WI level at the time of the auction was at 4.230%Tail: Previous -0.1 basis points versus six-auction average +2.2 basis points.Bid-to-Cover Ratio: 2.37X vs six-auction average at 2.39x.Dealers' Participation:...
US treasury to auction or $21 billion of 30 year note at the top of the hour
The US treasury will auction off $21 billion of 30-year bonds at the top of the hour. The auction completes the coupon auctions for the week. The three-year note auction was met with above-average demand (I gave it a grade of B). The 10 year note auction yesterday was...
Nasdaq bears take over and tilt the short-term bias down. S&P also below moving average.
The 4-day win streak for the Nasdaq index is on track to be broken today. The tech heavy index is currently down 134.21 points or 0.90% at 14835.47.Nasdaq index is back below its 100 hour moving averageThe move lower has also taken the price back below its 100-hour...
Fed’s Mester: December CPI report shows the job is not done yet
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 breaks resistance and targets 200-bar MA, Potential for further upside on a break.
In an earlier video today on the USDCAD, I spoke to the pair getting above the 1.3398 level where the 50% midpoint was found and also above the high of a swing area up to 1.3414. The buyers were indeed able to do that, and have subsequently run the price up to another...
European equity close: A turn lower
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,...
How the race for volumes in bitcoin ETFs is shaping up
Trading has been underway for 90 minutes in the Great ETF Race of 2024 and it's already clear who the winner will be.The IBIT ETF from Blackrock has seen 21.65 million shares traded, far more than Fidelities FBTC at 9.01 million, though the dollar-value gap is...
Buyers in the USD, tilts the USDCHF technicals to the upside. What would upset the bias?
The USD is higher after the CPI data. However, for the USDCHF it extended above the swing high from January 3 at 0.8554, but could not extend above the swing high from January 5 at 0.8576. At the high from January 5, it also corresponded with the 50% of the move down...
Save the Date: Finance Magnates Africa Summit (FMAS:24) Returns this May
One of the most anticipated events of 2024, Finance Magnates Africa Summit (FMAS:24) will be returning for the second year this May 27-29. The professional event will bridge the B2B and B2C space, combining regional and local providers with global brokers, brands, and...
US dollar swings higher as equities spill
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 within up and down ranges, but with a bullish tilt
The USDCAD has seen up and down volatility after the US CPI data, but the buyers are trying to hold support against the 100 hour MA. That has the tilt more in favor of the buyers. The 100 hour MA comes in at 1.3370.Having said that, the price still needs to get and...
Bitcoin briefly hits $49,000 as it rides the ETF hype
BTC 30 minsThe bitcoin bulls are having their moment as it climbs 6% on the hype from the first day of trading. Market watchers will be seeing how much money flows into each of the bitcoin ETFs and how much stays in the Grayscale GBTC Trust now that it's convered into...
Stocks choosing higher at the start of the trading day
US stocks indices and traders are choosing higher at the start of the trading day after trading above and below unchanged off of the higher-than-expected CPI data. Although inflation data was a bit higher than expectations, the feeling is the worst is behind. US...
US dollar gives back the CPI pop
The US dollar has mostly given back its CPI gains.Fixed income has foreshadowed the move with US 2-year yields now down 3.6 bps on the day to 4.33% from a high of 4.39% after the data.The thinking for the FX market is: If bonds aren't worried about inflation, why...
Kickstart your FX trading for January 11 with a look at the EURUSD, USDJPY and GBPUSD
The US US CPI data was on the high side with the core CPI rising by 0.3% and 3.9% on MoM and YoY. The headline also rose by 0.3% and increased to 3.4% from 3.1% last month.That sent the USD higher on the initial reaction at least.In this video, I take a look at the...
Bitcoin near the highs of the week as max bitcoin ETF hype is set to hit
Bitcoin 30 min chartBitcoin is up nearly 4% and at the highs of the day at $47,655.Money is rolling in with the ETF hype-machine peaking as trading is set to start at the bottom of the hour. The question is whether this will be a sell-the-fact trade or not. One spot...
US initial jobless claims 202K vs 210K estimate
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 December core CPI 3.9% y/y versus 3.8% y/y 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,...