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,...
Latest Atlanta Fed GDPNow estimate shows lower Q4 growth at 2.0%
Atlanta Fed GDPNow estimate 2.0%The Atlanta Fed GDPNow estimate for Q4 growth fell to 2.0% from 2.3% prior. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.0 percent on January 2,...
USDCHF reverses course in trading today: Short-term technical bias shifts a bit to upside
The CHF was the strongest of the major currencies in 2023. Now that move was led by the CHFJPY which showed a 18.20% move, but the USDCHF also moved 8.94% in favor of the CHF (USD lower). Today is a reversal of 2023 type of day. US stocks are lower especially the...
Earthquake warning issued in Japan’s Ishikawa Prefecture
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,...
Mixed results for major European indices as manufacturing sector contracts
The major European indices are ending the day with mixed results:German DAX +0.11%France CAC, -0.16%UK FTSE 100, -0.15%Spain's Ibex, +0.79%Italy's FTSE MIB +0.58%The final PMI manufacturing data was released today:Spanish Manufacturing PMI: Recorded at 46.2, slightly...
Crude oil reverses. Down $ 1.00 on the day
The price of crude oil is down over one dollar now at $70.61. That takes the price down -$1.04 on the day. At session highs the price reached $73.64 up $1.99.Crude oil stalled against its 100/200-hour moving averagesTechnically, today's price high stalled near the 100...
Top economic releases this week: US jobs report to drive markets
The US Economic calendar will be highlighted by the US jobs report which will be released at 8:30 AM on Friday. Canada will also report their employment report on the same date in at the same time. Here's a summary of the key economic events for the week, including...
Nasdaq index plummets, Magnificent 7 suffers. Tesla bucks the down trend
Traders are anxious to sell their big winners from 2023. The so-called Magnificent 7 are showing sharp declines with the exception of Tesla which is up 0.19% after reporting better-than-expected sales figures earlier this morning:A summary of the Magnificent 7 is...
USDCAD surges above 1.3300 level, Bulls take back some control above 200 hour MA.
The USDCAD is running to the upside after breaking above it 200-hour moving average at 1.32665 earlier today. That was the first break above that moving average since December 13. The break above give the buyers a go-ahead to push to the upside.That run to the upside...
US construction spending for November 0.4% versus 0.6% 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,...
US stocks not doing too well to start the trading year
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 S&P global manufacturing PMI for December 47.9 versus 48.4 estimate
S&P Global PMI for December 2023Prior 48.2 preliminary. Prior month was 40.4S&P global manufacturing index for December 47.9 versus 48.4 estimateOnly two months in 2023 were above the 50.0 levelHighlights from the S&P global:US Manufacturing Sector...
Canada S&P global manufacturing PMI for December 45.4 vs 47.7 last month
S&P global PMI for Canada fall to lowest since May 2020Highlights from S&P Global on the PMI:Intensified Downturn in Manufacturing Sector: Canada's manufacturing sector experienced an accelerated decline in output and new orders in December.Job Losses and...
US stock futures signal lower open as tech giants struggle; Bitcoin hits new high
The major US index futures are implying a lower opening for the major indices. The S&P index is down -31 points. The Dow Industrial Average down -181 and the Nasdaq index is down -152.68 points.Tesla reported Q4 deliveries of 484,507 which was higher than the 473K...
EURUSD, USDJPY, and GBPUSD: Technical Analysis and Trading Targets to kickstart the US day
The USD is stronger versus the three major currencies - the EURUSD, USDJPY and GBPUSD. In this video take a look at both the daily and hourly charts to get our feet under us as we start the new trading year. What is the bias? What is the risk and the targets going...
Fintech360’s New Unified Communication Hub Sets New Standards
With over a decade of experience in the Forex market, Fintech360, a leading provider of innovative fintech solutions, is at the forefront of CRM technologies with its groundbreaking Communication Hub - a transformative solution that significantly improves interaction...
The USD is the strongest and the CHF is the weakest as the NA session begin
The snapshot of the strongest to the weakest of the majorsAs the new year begins, the snapshot of the forex market is showing the USD is the strongest and the CHF is the weakest. The US stocks have moved lower to start the year after solid gains in 2023. The Nasdaq...
ForexLive European FX news wrap: Dollar on the move as stocks slip
Headlines:Markets:USD leads, JPY and CHF lag on the dayEuropean equities mostly lower; S&P 500 futures down 0.7%US 10-year yields up 9.8 bps to 3.960%Gold up 0.2% to $2,066.95WTI crude up 2.0% to $73.07Bitcoin up 4.2% to $45,470The day started off like it would be...
Some never-too-early forecasts for the S&P 500 this year
I'll just get straight to it and it does look like not many houses are looking for extravagant gains in stocks for this year, or at least for the S&P 500 index. Here's the list:Citigroup - 5,100Morgan Stanley - 4,500JP Morgan - 4,200BofA - 5,000Wells Fargo -...
Opening day in markets is always a tricky one
In the final two months of last year, market players were convinced that the disinflation narrative is going to prevail and that major central banks are going to cut rates much sooner than anticipated. That resulted in aggressive pricing for rate cuts, which saw the...