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EURUSD buyers push price to the 200 hour MA/swing area target.
EURUSD moves up to test the 200 hour MA and traders lean.The EURUSD started the US trading day on a positive note and has continued its upward momentum, reaching a new session high. In the morning video, I identified the next potential upside target as the 200-hour...
BOC business outlook survey indicator -3.51% vs -2.31% prior
Overall survey indicator at the lowest since Q2 202053% of firms expect inflation over 3% for the next two years, down from 64% in Q227% of firms think it will take longer than three years to return to BOC's 2% inflation target, down from 32% in Q2Future sales...
Feds Harker: Current interest rate environment draining housing market of new buyers
Fed's HarkerFed's Harker, president of the Philadelphia Fed, in a speech to the Mortgage Bankers Association said:Current interest rate environment draining housing market of new buyersReiterates US central bank very likely done with rate hikesAcknowledges the impact...
US to ease sanctions on Venezuelan oil – report
The Washington Post reports that the US will announced eased sanctions on Venezuelan oil tomorrow.This one has been rumored for awhile with the deal centering around fair elections for an ease on some sanctions. Oil has faded on the report though.The sanctions relief...
Feds Harker is expected to speak at 10:30 AM ET.
Fed's Harker is scheduled to speak at 10:30 AM ET on the economic outlook. He will kick off a host of opportunities to hear different fed speakers between now and the end of the week. Below is the schedule:The calendar of the Fed speakers this weekThe calendar leads...
USDCAD falls toward key MAs on 4-hour chart
The USDCAD has moved modestly lower to start the trading week, and in the process is testing a swing area on the 4-hour chart between 1.3600 and 1.36125. Also, on the way on the downside is the rising 100-hour moving average at 1.3597, and its 200-bar moving average...
Putin and Xi are set to meet on Wednesday
Political leaders only meet at the highest levels when deals have already been agreed on by deputies. The reporting on this one says that no oil and gas deals are to be signed, so you wonder if something else is in the works.The last time they met, Putin launched the...
Fake report? Bitcoin gives it all back
A couple things make me suspicious of this report.1) It would be odd that they would just approve the Blackrock iShares ETF. The thinking is that they would approve a bunch at the same time, like they did with the ether future ETF.2) A Fox reporter now says she's...
The major US indices are opening higher to start the new trading week
The major US stock indices are opening with gains on the day to start the trading week. Last week the Dow industrial average and S&P index both moved higher by 0.45 and 0.79% respectively. The date NASDAQ index fell -0.18%. A snapshot of the market currently...
Bitcoin surges more than 8%
Bitcoin is up 8% in a quick rally to the upside. Most of the gain has come in just the past few minutes. There is speculation about a bitcoin spot ETF and Middle East worries. Stops above the September lows may also be helping.Bitcoin dailyThe shorter term chart shows...
Kickstart your FX trading for October 16 with technical look at EURUSD, USDJPY and GBPUSD
Kickstart your forex trading on October 16 with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD.EURUSD: The EURUSD is trading higher today and in the process is moving closer to a swing area between 1.0551 and 1.0557. Also in that area is it a...
Geopolitical risk trades fade but the but tension still high
The US dollar is generally lower today alongside gold as the Middle East conflict hasn't expanded. However the scope of the retracement so far is small compared to the outsized moves on Friday.The antipodeans are particularly strong today as S&P 500 futures rise...
Canada August wholesale sales +2.3% vs +2.6% expected
Prior was +0.2% (revised to 0.0%)In volume terms, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 2.2% in AugustSales in the machinery, equipment and supplies subsector grew by 5.2%Wholesale...
US Empire manufacturing Index for October -4.60 versus -7.00 estimate. Prior month 1.90.
Empire Fed manufacturing indexDetails:New orders -4.2 versus 5.1 last monthShipments 1.4 versus 12.4 last monthPrices paid 25.5 versus 25.8 last monthPrices received 11.7 versus 19.6 last monthEmployment 3.1 versus -2.7 last monthaverage employee work week 2.2 versus...
Canada August manufacturing sales +0.7% vs +1.0% expected
Prior was +1.6%Inventories -0.1% vs -0.7% priorInventory to sales 1.69 vs 1.74 prior (prior revised to 1.70)Unfilled orders +0.5% vs -1.0% priorCapacity utilization 80.2% vs 77.6% priorThe jump in capacity utilization was in the transportation equipment category,...
ICYMI: Iran finance min says will not remain an observer if crimes in Gaza continue
Iran finance minister Ehsan KhandouziThe market went into the weekend fearful that a broader conflict could break out over the weekend if/when Israel launched a broader counter-offensive. That action hasn't taken place, though airstrikes continue in Gaza. Normally,...
ForexLive European FX news wrap: A light retrace of the Friday moves for gold and yields
Headlines:Markets:NZD leads, CHF lags on the dayEuropean equities a little higher; S&P 500 futures up 0.3%US 10-year yields up 7.3 bps to 4.701%Gold down 0.8% to $1,915.09WTI crude up 0.1% to $87.82Bitcoin up 2.8% to $27,737There wasn't much in terms of major...
Nasdaq Composite Technical Analysis – Will this support hold?
Last Friday, the market sold off as the University of Michigan Consumer Sentiment report saw a big miss across the board with the inflation expectations figures spiking back up. This might be a signal that the consumers are indeed weakening, and it could be a bad omen...
MT Tower Elevates the Metaverse Experience – Listed on MEXC Exchange
MT Tower is poised to transform the influencer and social media landscape into a vibrant and immersive wonderland. With a commitment to cutting-edge innovation, MT Tower aims to deliver an unparalleled experience that captivates and delights.A New Era of EngagementMT...