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,...
New Zealand data: January retail sales bounce back from December slump
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 Americas FX news wrap: Hot CPI sends a cold shudder through the market
Markets:Gold down $27 to $1992WTI crude up 86-cents to $77.78US 10-year yields up 15 bps to 4.32%S&P 500 down 1.4%, Nasdaq -1.8%USD leads, AUD lagsThe US dollar rose sharply in the wake of the higher-than-expected inflation data in a move that was...
New Zealand data: January Food price index +0.9% m/m (vs. prior -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,...
Oil – private survey of inventory shows headline build much, much larger than was expected
This is from the privately surveyed oil stock data ahead of official government data, from the US Energy Information Administration, tomorrow morning out of the US.A huge headline build, but huge product draws also!Expectations I had seen centred on:Headline crude...
US stocks move lower led by Russell 2000. Worst day for small cap stocks since June 2022
The major indices moved sharply lower after the higher-than-expected CPI threw cold water on the market. Not helping the cause is the Nasdaq index moved above its all-time high closing level intraday yesterday, and could not stay above that level (closing lower on the...
Economic calendar in Asia Wednesday, 14 February 2024 – not a lot
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,...
Trade ideas thread – Wednesday, 14 February, insightful charts, technical analysis, ideas
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,...
German government to lower economic growth forecast to just +0.2%
The euro's sharp fall to 1.0705 today is all about the US dollar side of the equation but the domestic reasons for selling Europe continue to mount. A big one is the erosion of the German industrial economy. The combination of high energy prices and the rise of...
EURUSD moves to a new low and retests the 1.0700 level
Traders in the EURUSD are seeing another break. This one is below a swing level near 1.0723. The price today has also moved from the 50% of the move up from the September 2023 low at 1.09936, to - and through - the 61.8% at 1.0712. The price is now testing the 1.0700...
Canadian spending tracker: Households cut discretionary spending even further
RBC is out with its latest Canadian spending tracker and it shows a second consecutive month of weakness in retail spending ex-autos.Discretionary services spending has softened in four of the past five months with hotels particularly soft for months and restaurant...
Crude oil futures settle at $77.87
WTI crude oil futures are settling at $77.87. That's up $0.95 or 1.24%.The high price today reached $78.47. The low price was at the $76.87.Crude oil is back between the 200 and 100 day MAs nowLooking at the daily chart of crude oil, at session highs, the price did...
Early stock market dip buyers get a bruising
The S&P 500 is near the lows of the day, down 82 points or 1.6% to 4939. The Nasdaq is down 1.9%.The dip-buyers tried to make a stand after the first hour of trading but they have been swamped in the US afternoon.There's nowhere to hide today with US bonds also...
Nasdaq tests 100 hour MA target. A move below would increase bearish bias.
The major indices are trading to/near lows for the day as the intraday correction higher fizzles. The move lower is testing a key MA for the Nasdaq. It is breaking below the 100-hour MA on the S&P. NASDAQ: The Nasdaq index is down retesting its rising 100-hour MA...
Canada fin min: Budget will help create conditions for rate cuts
AI imageI find it shocking that we're not talking about fiscal tightening more in the current environment.In a way, it's a much easier way to bring inflation into line than rate hikes and has far more long-term benefits. Today, Canadian finance minister Chrystia...
Six warning signs in the Bank of America fund manager survey
Bank of America is out with its latest survey for fund managers and it shows a few worrisome spots. Here are some highlights:1) It was the most-bullish fund manager survey in 2 years according to BofAThe purpose of the survey is to illuminate popular but also...
NASDAQ moves down to test MA support at lows and bounces. What next?
The NASDAQ index is down over 1.5% on the day after the higher-than-expected CPI data.The higher CPI has pushed off the expectations for the first rate cut. The market is now pricing in the most likely chance for cut in June or July with a 79% chance for cut in June...
ECB’s Lane: Next move is a rate cut but timing will depend on data
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,...
USDJPY extends to a new session high and in the process tests a target area
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,...
Putin’s suggestion of a ceasefire in Ukraine was rejected by US – report
Reuters reports that Russian President Vladimir Putin suggested a ceasefire in Ukraine to freeze the war but was rejected by the US.The ceasefire would have frozen the borders at the front lines and was floated some time in 2023.It's interesting timing on the leak...