The EURGBP has seen a run higher despite a sharp rise in the UK 10 year yield which saw the yield move to the highest level since 2008. The yield reached 4.821% today rising above the 2023 high of 4.755% in the process. The yield is currently at 4.813%. Although...
Gold rises to the highest in four weeks
gold dailyGold is off to a strong start to the year, rising another $19 today to $2668.Gold has been able to make headway despite a broadly stronger US dollar and rising Treasury yields. That dynamic will be challenged again today with the US Treasury selling 30-year...
Major US stock indices erase declines
The major US stock indices have erased the declines that saw the:Dow down -200.57 points at lowsS&P down -26.39 pointsNASDAQ index is down -115.53 pointsThe snapshot of the current market shows:D industrial average up +23.51 points or 0.06% at 42551.87. S&P...
Crude oil stalls against its 200 day moving average.Sellers enter and push the price lower
Crude oil extended higher in trading today reaching the highest level going back to October 11. However the move to the upside did run into overhead resistance. The 200 day moving average (green line in the chart above) comes in at $75.25. The high price today reached...
Yellen: We haven’t seen too much progress on inflation in the the past couple of months
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MUFG: Gold, oil, and natural gas; 3 top commodities trades for 2025
MUFG highlights three commodities trades for 2025, emphasizing a bullish view on gold, near-term upside for oil with medium-term downside, and bearish prospects for long-dated natural gas prices.Key Trades:Gold (Long Spot):Rationale:Anticipated US Fed rate...
AUDUSD sellers take the price below the 100/200 hour MAs increasing the bearish bias.
The AUD/USD has moved lower in today's trading, breaking through and extending away from the 200-hour MA at 0.6223 and the 100-hour MA at 0.62306. This shift tilts the technical bias further in favor of the sellers, as the pair approaches key support levels near the...
Is Gold a Buy or Sell?
Is Gold a Buy or Sell? A Detailed Shorting Strategy for Micro Gold Futures (MGC)For those asking, “Is gold a buy or sell?”, this structured shorting plan focuses on the Micro Gold Futures (MGC) contract. This approach leverages selling the bounce at resistance levels...
EIA weekly US crude oil inventories -959K vs -184K expected
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Quantum computing stocks crater after Nvidia’s Jensen Huang pours cold water prospects
RGTI dailyQuantum computing stocks are taking a beating today after Nvidia CEO Jensen Huang delivered a sobering assessment of the technology's timeline, saying practical quantum computing applications remain "many years away" from commercial viability.Individual...
US November wholesale inventories -0.2% vs -0.2% expected
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USDCHF push the pair higher and away from 100 hour MA. Staying above is more bullish.
The USD/CHF is trading higher today, driven by a stronger USD, as the pair moves decisively above its 100-hour moving average (MA) at 0.90834. If the price remains above this level, buyers maintain firm control. A break below the 100-hour MA and the 200-hour MA at...
Tech sector holds steady: semiconductor surge and communication slip
Stock heatmap by FinViz.com Wed, 08 Jan 2025 14:46:12 GMTTech Sector Holds Steady: Semiconductor Surge and Communication SlipToday's stock market journey unfolds with a mixed bag in technology, resilience in certain sectors, and challenges in communication services....
USDCAD moves back above the 100/200 hour MA after breaks lower this week failed (twice)
The USD/CAD experienced significant volatility earlier this week, initially moving lower on Monday following the Trump tariff story and its subsequent denial. On Tuesday, the pair reversed back lower once again, before rebounding higher to close stronger on the day....
The angst is rising in the UK as 10-year yields hit the highest since 2008
The pound was a surprisingly-strong performer in 2024 but I think there will be a catch-down trade in 2025. The strength last year was driven by a more-hawkish central bank but the stick inflation last year wasn't due to a stronger economy (like the US) but structural...
More from Waller: Some of ongoing services inflation may represent lagged wage increases
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Is the world about to face another pandemic?
Five years have passed since the world experienced firsthand — not just through textbooks — what a pandemic is and how profoundly it can impact everyone, even those who never contracted the virus.This includes restrictions on movement, worsening economic conditions,...
US initial jobless claims 201K vs 218K estimate
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US December ADP employment +122K vs +140K expected
US ADPPrior was +146KAnnual pay growth for job-stayers 4.6% vs 4.8% priorJob-changers' pay gains 7.1% vs 7.2% priorServices +112K vs +140K priorGoods +10K vs +6K priorThis is a more-benign jobs report and should help to cool some of the inflation angst in the...
Fed’s Waller: Will support further cuts in 2025 but pace will depend on inflation progress
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,...