The price of oil is settling at $76.84. That is up $0.62 or 0.81% on the day. The high price reached $77.29. The low price was at $75.93.For the trading week, the prices soared 6.27% which comes after a -7.35% decline last week, and a 6.5% rise the week before. So...
Fed’s Logan: Labor market is very tight but loosening
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 Bostic: Inflation has been too high for too long
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,...
EURUSD neutralizes the price action heading into the weekend
The EURUSD has neutralized the price action from a technical perspective by holding support and resistance against comment technical levels. More specifically, on the downside today, the 100-hour moving average stalled the fall. That moving average currently comes in...
USDCAD trades to new session highs and in the process tests the 200 day MA
The USDCAD fell initially at the start of the North American session after the Canada jobs report, in the revisions to the CPI which was originally thought to be more than what it ended up being. The price moved to the high of a swing area between 1.3398 and 1.3414...
European equity close: A double doji on the weekly
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,...
Nasdaq moves closer to record high close
NASDAQ index is within 0.76% of all-time high closing levelThe NASDAQ index is moving closer to its all-time high closing level reached on November 19, 2021 at 16057.44. The intraday all-time high price was reached at 16212.23 on November 22, 2021. From that high...
USD/CAD climbs as oil gives back gains, employment glow fades
It's surprising to see the loonie lagging today given today's strong employment report. The country added 37.3K jobs compared to 15K expected and the unemployment rate fell to 5.7% compared to 5.9% forecast.If that wasn't enough, oil prices rallied and the US dollar...
NZDUSD moves higher helped by ANZ call for higher rates
The NZDUSD moved higher today, helped by a report from ANZ that they now expect the RBNZ to hike rates not once but two times:THey said:We now expect the RBNZ to hike the OCR 25bp in Feb and April, taking it to 6%.No one piece of data is to blame but a series of...
Nasdaq extends gains to +0.8%
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 consolididates the week’s gains near session highs
The USDCHF moved higher this week and in the process was able to extend above the January high at 0.87277. Yesterday the high reached 0.87614 before rotating to the downside into the Asian session open. The low price stalled against the old high from January at...
More on the US CPI revisions
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,...
S&P index opens just about the 5000 level. Record high level for the S&P index
The S&P index opens the day above the 5000 level, but just barely. The NASDAQ index is leading the way with a gain of 0.33%. The Dow industrial averages trading modestly lower. A snapshot of the market currently shows:Dow industrial average down -13.61 or -0.04%...
Some big round numbers in play today and some warning signs
I don't love the price action I'm seeing in bonds after CPI. I hate to read too much into a few basis points but US 2s are now at the highs of the day, up to 4.49% from as low as 4.43% after the CPI revisions.The data was lower but it's not a game changer. Fed funds...
Kickstart your FX trading with a detailed technical look at the EURUSD, USDJPY & GBPUSD.
The morning forex kickstart video for February 9, 2024, takes a detailed look at three of the major currency pairs – the EURUSD, USDJPY and GBPUSD. The USD are moved to lower after the CPI revisions, but hasn't since recovered. Technically, the USD selling took the...
US equity futures rise: S&P 500 set for a clean break of 5000
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 Treasury yields fall on CPI revisions, then rebound
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,...
Weekly Market Recap (05-09 February)
The Chinese January Caixin Services PMI missed expectations:Caixin Services PMI 52.7 vs. 53.0 expected and 52.9 prior.China Caixin Services PMIThe Eurozone December PPI came in line with expectations:PPI M/M -0.8% vs. -0.8% expected and -0.3% prior.PPI Y/Y -10.6% vs....
US benchmark CPI revisions: December CPI revised to +0.2% from +0.3%
Dec CPI ex-food and energy unrevised at +0.3%November +0.2% vs +0.1%October +0.1% from unchangedQ4 core CPI unrevised at a 3.3% annualized increaseCore six-month annualized CPI down to 3.0% from 3.3% (this is a key metric for the Fed)This US dollar is initially lower...
Canada January employment 37.3K versus 15.0K estimate
Canada jobs change trendsPrior month 0.1Kemployment change 37.3K vs 15K est.Unemployment rate 5.7% versus 5.9% expectedPrior unemployment rate 5.8%Full time employment -11.6K vs -23.5K last monthpart-time employment 48.9K vs +23.6 last monthAverage hourly wages...