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’s winning streak in jeopardy of ending as prices tumble below moving averages
Crude oil is on pace to break it seven day win streakCrude oil prices today marked a new high for February, reaching $78.74, which exceeded the 38.2% Fibonacci retracement level of the downward move from the September peak at $78.15 (see chart above). This surge...
Treasury yields slide but the US dollar is reluctant to follow
EUR/USD is at the highs of the day, up 23 pips to 1.0723 but otherwise, the US dollar is struggling to find traction.That will be something to keep an eye on because Treasury yields are at the lows of the day across the curve, including a 5.5 bps dip in 10s to 4.26%....
Sellers keeping in control in the GBPUSD. Stay below the 200 day MA, but work to do.
The GBPUSD moved lower earlier today on the back of modestly lower CPI data. The price ultimately moved below its 200 day moving out of 1.25625. It also fell below a swing area between 1.2558 and 1.25715. Stay below those levels tilts the bias in the favor of the...
Bailey: Staff believe we’re about 70% through the transmission of monetary policy
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,...
Fed’s Waller: One lesson from 2020 is that forward guidance should be more flexible
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,...
USDCHF breaks above the 200 day MA. Key break. Staying above keeps the buyers in control.
The USDCHF moved sharply higher yesterday after the stronger-than-expected CPI. The move to the upside extended above the 50% retracement of the move down from the October high. That level comes in at 0.8788. The 100-day moving average. That level comes in at 0.8806,...
BOE’s Bailey: I’m quite skeptical about forward guidance
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 +12018K vs +2560K 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,...
Hopes for Middle East ceasefire dwindle
Israeli PM NetanyahuThere were rocket attacks from Lebanon into Israel today that killed one person and injured a half-dozen others. In response, Israel appears to be launching attacks on Beirut.At the same time, Netanyahu has decided the Israeli team won't return to...
NZDUSD buyers and sellers are battling it out at a cluster of key technical level.
The NZDUSD moved lower yesterday and in the process, did move below a key cluster of technical levels including the 200 day moving average at 0.60796, the 100-day moving average near 0.6072, and the 50% midpoint of the move up from the October low at 0.6070. The low...
BOE’s Bailey: We are seeing signs of pay growth coming down
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 stock indices retrace some of the declines from yesterday
Yesterday the small-cap Russell 2000 index tumble by nearly 4% which was its worst day since June 2022. Period today that index has rebounded by over 1.25% as traders reverse some of the declines.A snapshot of the stock market major indices is showing (10 minutes into...
USDCAD buyers in control above the 50% retracement and a key swing area.
The USDCAD moved sharply higher yesterday after the better than expected US CPI data. The run to the upside extended above its 100-day moving average 1.3557. However the price rotated back to the downside in trading today, and move back below that moving average...
Fed’s Goolsbee: Even if inflation comes in a bit higher, it’s still consistent with path
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,...
Canada January home price index -1.2% m/m – CREA
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,...
Did a secret Powell meeting turn around markets yesterday?
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,...
Kickstart your FX trading with a technical look at the 3 major currency pairs
The USD moved higher yesterday helped by the stronger CPI data that sent yields surging to the upside. That run in yields has slowed a bit, but lower inflation data in the UK has helped to push the GBPUSD lower and below key support at the 200-day MA (close risk level...
Former Boston Fed President Rosengren: Markets overreacted to CPI
Former Boston Fed President Eric Rosengren, who retired after trading misconduct, is still thinking about markets."Market overreacted to the CPI report. While above analysts expectation, monetary policy is not set to analyst expectations. Nothing in the report...
December US PPI revised to -0.2% from -0.1%
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,...