Major indices are closing with mixed results:Dow industrial average rose 123.24 points or 0.28% at 44593.65S&P index rose 2.07 points or 0.03% at 6068.51NASDAQ index fell -70.41 points or -0.36% at 19643.86The small-cap Russell 2000 was also lower on the day with...
More on what to watch for in Wednesday’s US CPI report
US core CPI y/yI wrote yesterday about the big seasonal adjustments in the January CPI report. Today, Nick Timiraos at the WSJ expands on the same theme, noting that the January report is particularly impactful because of price resets at the turn of the year and that...
Fed’s Williams: US to grow by around 2% this year and next
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,...
NZDUSD and AUDUSD head into the Asian Pacific session near resistance targets
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 settles up $1.00 at $73.32.
Crude oil futures are settling up one dollar at $73.32.The price rallied to one-week highs, supported by a weaker dollar and supply concerns stemming from U.S. sanctions on Russian crude production. Additional support came from Saudi Arabia, Iraq, and the UAE, which...
US dollar takes a quick dive
The US dollar has taken a quick move lower and it's not clear why.EURUSD 10 minsThe usual spots aren't indicating any news so there is some head-scratching going on. It's not often you see a stop-driven move of this kind of magnitude at this time. Equities have perked...
Meta is up 17-straight days, laid off 5% of the company and most still think jobs are safe
Meta shares dailyShares of Mark Zuckerberg's Meta are on an all-time heater right now. They erased a morning selloff and are up for the 17th consecutive day in an incredible run that's even more incredible given turmoil in other Mag 7 stocks.The market has come around...
Is Tesla’s Biggest Risk its Own CEO?
Elon Musk’s net worth has dropped below $400 billion for the first time in two months, driven by a sharp decline in Tesla stock price.Tesla shares and options account for more than 60% of Musk’s wealth, which peaked at $486.4 billion on December 17 following Trump’s...
US stocks battle back into positive territory, US dollar loses ground
The risk mood is improving once again and the S&P 500 is higher in what's been a choppy day.SPX 5 minsThe comments from Powell were a non-factor as he reiterated a wait-and-see attitude that's nearly unanimous at the Fed.I noted a comment from Citadel CEO Ken...
Geopolitics: Iran’s UN envoy says trump threatening use of force is alarming/irresponsible
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US treasuries auctions $58 billion of 3-year notes at a high yield of 4.300%
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,...
Russia military jet intruded on Polish airspace
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,...
ECB Schnabel: Uncertainty in trade has risen dramatically
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,...
Geopolitics: Netanyahu says intense fighting will resume if hostages are not returned
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,...
Stocks have taken a turn back to the downside
The US stock have taken a turn to the downside with the NASDAQ index leading the way. The NASDAQ index is now down -0.64% at 19590. The low price just reached 19579.77.On the downside, the price of the NASDAQ is approaching its 200 hour moving average at 19569.54....
Trump sends Bessent to Ukraine, says the war must end soon
It's odd to send the Treasury Secretary rather than the Secretary of State to end a war but Trump seems to be angling towards some kind of rare earths deal, even though most of the rare earths are in the part of Ukraine that Russia has already won.In any case, here is...
EURUSD and GBPUSD both test the 100/200 hour MAs. Key technical level for both pairs.
The EURUSD is trading at new session highs and in the process has extended to the falling 100 and 200 hour moving averages. Both those moving averages come in near 1.03504. The level becomes a risk-defining level for traders. What that means is that sellers can lean...
Bank of Canada appoints Michelle Alexopoulos to governing council
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,...
AUDUSD has seen up and down trading today. The price is testing swing area resistance.
The AUDUSD began the week with choppy, up-and-down price action, fluctuating around the rising 100-hour moving average at 0.62759. In both the Asian and European sessions, the pair attempted to break below this level but failed to sustain downside momentum. Each dip...
Powell Q&A: Don’t see any reason to be in a hurry to lower rates
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,...