copper weeklyThe copper market is where the green revolution runs into the reality of global scarcity.If China managers to stay on track and demand for EVs, green power and infrastructure continue, then the copper market is headed for a supply deficit this decade...
US and UK aid workers have been asked to leave Yemen
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 sells 2-year notes 4.365% vs 4.365% WI
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,...
The US treasury to auction off $60 billion of two-year notes at 1 PM ET
The US treasury will auction off $60B of 2-year notes at 1 PM ET. The auction is the first of the 3 coupon auctions this week. Tomorrow, 5-year notes will be auctioned. On Thursday, the treasury will auction 7-year notes.Below are the major component details of the...
USDCHF runs to new high and in the process looks to test the high of a swing area
The USDCHF is following the USDs run to the upside in the US session. US yields are helping. The 10-year yield is near 4.15%, up 5.6 basis points. The two-year yield is at 4.406% +3.0 basis points. At 1 PM ET, the U.S. Treasury auctions off $60 billion of 2-year...
Gold and Silver Continue to Struggle, Heavyweight US Data Releases Later this Week
Gold and Silver Analysis, Prices, and ChartsThe latest Fed rate expectations show six quarter-point cuts this year.Gold and Silver struggle but the sell-off is so far contained.Learn how to trade gold with our free guide Recommended by Nick Cawley How to Trade Gold...
BofA: What we expect from Wednesday’s Bank of Canada decision?
Key Insights:BoC Rate Decision:BofA anticipates that the BoC will maintain the overnight rate at 5.0%, with no adjustments to its forward guidance.Economic and Labor Market Context:Despite weak economic activity leading to a looser labor market, wage growth remains...
European equity close: A grind lower
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,...
Major US stock indices all lower on the day now.Yields higher ahead of 2 yr note auction.
After closing at record levels yesterday and on Friday, the Dow Industrial Average and the S&P index are trading in negative territory. The NASDAQ index is also down on the day. Each of the major indices have been up for three consecutive days.A snapshot of the...
USDJPY retraces the earlier day’s declines. What next?
The USDJPY moved lower after the Bank of Japan interest rate decision (no change) and statement/press conference. However, although the price was able to break below its key 100-day moving average at 147.557 and 61.8% retracement at 147.45, the price did find early...
EURUSD sellers are making a play with a technical break below the 200 day MA
The EURUSD sellers are making a play with a break below the 200-day moving average of 1.08442 (see green overlay line on the chart below). US yields are ticking higher and trading near session highs, increasing the USD in the process. The 10-year yield is up to 4.143%...
US dollar flexes its muscles once again. Euro hits five-week low
The US dollar is at the best levels of the day as the euro and pound fall to the wayside.The bond market is offering the dollar some support with 2-year yields up 2.6 bps and 30s up 5.1 bps in a moderate bear steepener. Further pressure on yields could come from oil,...
USDCAD tries to extend above 200 day MA. Not having much luck on first try.
The Bank of Canada will announce its interest-rate decision tomorrow at 10 AM. The expectations are for no change in policy. Economists expect rate cut in June. The market has a 70% chance of an April cut. Pricing for US cuts in 2024 is more aggressive, which has...
Eurozone January consumer confidence -16.1 vs -14.3 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,...
Richmond Fed January composite index -15 vs -11 prior
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 open for the major indices. Dow lower. Modest gains for S&P and Nasdaq.
The major US stock indices are opening with mixed results. The Dow Industrial Average is down as 3M disappoints with their guidance (-9.46%). The S&P is up modestly as is the NASDAQ index. Yesterday both the S&P and the Dow industrial average closed at record...
Kickstart your FX trading for January 23 w/ a technical look at the 3 major currency pairs
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,...
The sell-the-fact trade continues in bitcoin; Ether plunges
Bitcoin is now down more than 20% from the peak reached just minutes after the new slate of ETFs began trading. Bitcoin chartSupport at $40,000 held several times last week but broke yesterday and the selling has continued today.So far, the ETFs have only proven to be...
USDJPY technical analysis: Bullish move expected as key indicators signal potential ATH
In a recent video, Itai Levitan provided an in-depth analysis of the USDJPY pair, expressing a bullish outlook for the currency pair. He pointed to several technical indicators that suggest the pair is poised for a breakout to new all-time highs.Key Technical...
Philly Fed services index -3.7 vs +2.1 prior
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,...