Over the past 6 to 7 days, the USDCHF pair has established a resistance range between 0.8755 and 0.8770 (see yellow area on the chart below). In today's trading, the pair peaked at 0.8759, just below the falling 200-hour moving average of 0.87595, indicated by the...
EIA weekly US crode oil inventories -4632K vs -1354K 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,...
Bank of Canada Rate Decision: USDCAD stays steady. Traders await the next break.
We are waiting....USDCAD remains within technical levelsThe Bank of Canada's recent rate decision has not significantly impacted the price movement in either direction. On the downside, the key level to watch is the 100-hour moving average, currently at 1.35497. A...
The full statement from the Bank of Canada December 2023 rate decision
FOR IMMEDIATE RELEASEMedia RelationsOttawa, OntarioDecember 6, 2023The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening.The global...
US major indices higher in early US trading. Similar gains in the three major indices
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,...
BOC rate decision ahead: Technical barometers for USDCAD revealed in this video preview
The Bank of Canada interest rate decision will be announced at 10 AM ET. Adam has a preview that you can read here. It is my job to show the technicals that are in play and looking at the price action, there is some reluctance to get too bullish or too bearish...
Live Analyisis | Scalping the NFP!
In this session, our market analyst Andria analyzes the short-term trends following Non-Farm Payroll announcements. Watch her as she explains why the NFP remains the KEY economic announcement that can create the most volatility for traders and understand more about...
Kickstart the trading day:Technical analysis unveils opportunities in top currency pairs
The battles continue in the three major currency pairs: the EURUSD, USDJPY and GBPUSD. In the morning kickstart video for December 6, I look at those major currency pairs from a technical perspective and outline the key support and resistance levels, defining targets...
Preview: Today’s Bank of Canada decision is all about sending spring messages
Today's Bank of Canada rate decision is all about signalling what's to come in 2024.There will be cuts, but the questions are when and how many?The BOC won't have the answers yet as the central bank awaits more data but it may want to offer up a bias or push-back...
Economist poll shows slight majority seeing Fed waiting until at least July to cut 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,...
US October trade balance $-64.3 billion versus $-64.2 billion estimate
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 trade balance +2.97B vs +1.60B 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 Q3 revised unit labor costs -1.2% versus -0.9% 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,...
Canada Q3 labor productivity -0.8% vs -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,...
ADP US November employment +103K vs +130K expected
Prior was +113K (revised to +106K)Details:small (less than 50 employees) +6K vs +19K priormedium firms (500 – 499) +68K vs +78K priorlarge (greater than 499 employees) +33K vs +18K priorChanges in pay:Job stayers 5.6% vs 5.7% priorJob changers 8.3% vs 8.4% priorThis...
ECB’s Kazimir: Market bets for a Q1 rate cut are ‘science fiction’
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,...
ADP employment coming up 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,...
The NZD is the strongest and the EUR is the weakest as the North American session begins
The strongest to weakest of the major currenciesAs the North American session begins, the NZD is the strongest of the major currencies while the EUR is the weakest. The US dollar is mixed/lower with gains versus the EUR, JPY and declines vs the CAD, AUD and NZD. The...
ForexLive European FX news wrap: Dollar mixed with ADP employment data up 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,...
US MBA mortgage applications w.e. 1 December +2.8% vs +0.3% 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,...