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,...
GBPJPY plunges as Bank of Japan’s Ueda hints at tighter policy in 2024
Like the USDJPY, the GBPJPY is sharply lower after Bank of Japan's Ueda hinted of tighter policy in 2024 if inflation does not move back to the downside. Technically, the news sent the price tumbling below its 200-bar moving average on the 4-hour chart. That moving...
The U.S. Treasury has announced their coupon auctions for next week
Although yields have moved sharply to the downside of late, there still is a watchful eye on the supply of treasuries and the demand for treasuries especially from foreign investors. Concerns that the ever-increasing supply will crowd out other borrowers and lead to...
USDJPY nosedives below 50% midpoint as bearish trend persists
USDJPY breaks below 50% midpoint as a trend lower continuesThe USDJPY is extending the trend move to the downside and has extended to a new session low. In the process, the price has moved below its 50% midpoint of the last trend move higher from the July low to the...
Nasdaq index erases the week’s declines
The Nasdaq index is trading to a new session high of 14313.03. That's up 166 points or 1.18%. In the process, the index is now positive on a week by 0.05%. The Nasdaq index has been up for five consecutive weeksRecall that last week, the price moved to a new high for...
AUDUSD: Swing target holds support at low and buyers now attempt a comeback rally
The AUDUSD moved lower in the Asian session and in the process moved down to test a swing area near 0.65229. That support area extends back to early November and again around November 22. The price on November 22 based against that level and ultimately moved up to the...
US October wholesale sales -1.3% vs +2.2% 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,...
US announces military air exercises in Guyana joint operation
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,...
Stronger open for US stocks
The US stocks are off to a solid start led by the Nasdaq index. However, for the week the major indices are still on track for a decline which would snap a five-week winning streak.A snapshot of the market currently shows:Dow Jones Industrial Average: The index is at...
Currency Pair Analysis: EURUSD, USDJPY, and GBPUSD technical outlook to kickstart your day
In the December 7 morning kickstart video, I take a look at three of the major currency pairs from a technical perspective - the EURUSD, USDJPY, and GBPUSD. EURUSD: The EURUSD fell below both the 100-day moving average and 50% midpoint of the trend move higher from...
Manheim US November used vehicle index -2.1% m/m
It takes awhile for declines in used car prices to filter into the CPI but it's coming. In October, used car prices fell 2.3% and they've fallen another 2.1% in November, according to Manheim.On a year-over-year basis, prices fell 5.8%.“While November’s decline was...
Euro climbs to the best levels of the day as the US dollar slides
EURUSD 10 minsThe euro has found support and 1.0760 and turned higher with the help of a broader slump in the US dollar. There was no clear catalyst for the move as it came after a relatively in-line weekly US jobless claims report. If anything, the dip in continuing...
US initial jobless claims 220K versus 222K estimate in the current week
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,...
Canada October building permits +2.3% vs +2.9% 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,...
Initial jobless claims highlight a light US economic calendar
I won't be expecting any fireworks from economic data today but the market will be tuned into initial jobless claims at the bottom of the hour. The consensus is for a 222K reading, up a touch from 218K last week.On a higher reading, the market will be tempted to...
ForexLive European FX news wrap: Yen rallies further on Ueda
Headlines:Markets:JPY leads, CHF lags on the dayEuropean equities lower; S&P 500 futures flatUS 10-year yields up 3.8 bps to 4.159%Gold up 0.4% to $2,032.42WTI crude up 0.6% to $69.75Bitcoin down 1.2% to $43,282The big mover in trading today is the Japanese yen,...
US November Challenger layoffs 45.51k vs 36.84k 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,...
EU’s von der Leyen says discussed root causes of trade imbalance with China
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,...
Talks between SEC and Bitcoin ETF issuers advance to key technical details – report
The discussions are said to have moved to sorting out the key technical details, in a sign that the SEC may soon approve Bitcoin ETFs. That being said, there are still sticking points namely whether issuers will create a cash or an "in-kind" settlement mechanism, the...
Japanese yen extends gains, up by nearly 2% against the dollar now
There's no stopping the Japanese yen today as it seems like those who were short i.e. long USD/JPY over the last few months, are all jumping ship. I find it hard to fathom that Ueda's remarks earlier today can be that big of a catalyst. However, it is perhaps a...