Australian economic growth data for Q3 2023 is the data agenda highlight. Higher interest rates are biting into economic activity, GDP is thus expected to have grown more slowly. This snapshot from the ForexLive economic data calendar, access it here.The times in the...
Trade ideas thread – Wednesday, 6 December, insightful charts, technical analysis, ideas
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,...
NZDUSD tests support at swing level. Traders await price reversal or breakout
The NZDUSD on Monday peaked right near the high from the last time the price was at the levels on July 31 near 0.6221 (see blue numbered circle on the chart below).NZDUSD falls to test support swing eraWilling sellers in the NZDUSD leaned against the level and have...
What Deutsche Bank sees for interest rates and foreign exchange in 2024
Analysts at Deutsche Bank don't see the Federal Reserve cutting rates until June 2024 but they see swift easing in the final five meetings of the year, with rates falling by a cumulative 175 basis points next year.That's a highlight of "The House View" report released...
BofA: Preview for Wednesday’s BOC policy meeting and CAD outlook
Bank of America provides a preview for the upcoming Bank of Canada policy meeting on December 6 and its implications for the Canadian dollar. BofA expects the BOC to maintain its current policy rate, with potential implications for future rate cuts and CAD...
WTI crude oil falls for the fourth day, but holds the November low
WTI crude oil settled down by 72-cents to $72.32 today.It fell as low as $72.17, which was just a cent above the November low. The settlement today is the lowest since July.It was a choppy session as oil bounced from the November low and got some support from higher...
GBPUSD breaks below key support level, signaling potential downside
In the morning kickstart video, I outline the GBPUSD swing area floor between 1.2589 and 1.2602. That floor has now been broken. The low price has reached 1.25767.GBPUSD falls below the floor area.For traders looking for more downside, risk is now a move back above...
Factors Keeping Oil Prices Below $100 per Barrel
Piracy thrives in the Red Sea, and the International Energy Agency predicts an oil deficit on the world market soon, but prices continue to fall.In fact, there is chaos in geopolitics, not only in the Middle East and Eurasia but also in Latin America, pushing the gold...
High-ranking House Republicans set to bow out
What's next for the two former House majority speakers?Today, Rep. Patrick McHenry -- who briefly served as speaker pro tempore during the House standoff -- announced that he will retire at the end of this term in January 2025.“I will be retiring from Congress at the...
The market is pricing in cuts too aggressively but it doesn’t really matter
The market is now pricing in 127 basis points in rate cuts from the Federal Reserve in 2023, with a 12% chance of cuts in January and rising to 71% at the March 20 meeting.That's too aggressive based on the data and what the Fed has said already. It's not impossible...
Bitcoin skyrockets above $43,000, as the renewed rally continues
Bitcoin is extending above its 50% midpointThe price of bitcoin is continuing its run to the upside with an extension above the $43,000 level. The high price today has reached $44,011. The current price is trading at $43,353.Technically the price has extended above -...
US Dollar Setups: USD/JPY Gains as GBP/USD Trends Lower, AUD/USD Hammered
US DOLLAR FORECAST – USD/JPY, GBP/USD, AUD/USDThe U.S. dollar extends its advance despite the pullback in U.S. Treasury yieldsAttention will be on the November U.S. employment report later this weekThis article focuses on the technical outlook for USD/JPY, GBP/USD and...
New US visa restrictions target West Bank violence and instability
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,...
There will be no negotiations or exchange of detainees until aggression against Gaza stops
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,...
EURUSD falls towards key swing area as London/European traders look toward the exits.
As London/European traders look for the exit, the EURUSD is trading to a new session low. In the process, the price is also approaching a key swing area between 1.0765 and 1.0783 (see red numbered circles on the chart below). Within that area is the 50% midpoint of...
USDJPY roller coaster ride: Ups and downs persist as traders await next shove.
The USDJPY moved to a new session low after the weaker-than-expected JOLTs job opening data. That took the price below a swing area at 146.655. That should've opened the door for a retest of the low price from yesterday, but selling dried up and those sellers were...
Credit Agricole’s Top 2024 FX trades: Sell EUR/USD rallies above 1.10, targeting 1.05
EURUSD dailyCredit Agricole recommends selling EUR/USD rallies above 1.10, anticipating a decline towards 1.05 in the coming months. This recommendation is based on a mix of currency drivers, including central bank policies and macroeconomic risks, that are expected...
German DAX index trades to a new all-time record high
German DAX trades at a new all-time highThe German Dax is trading up 131.25 points or 0.80% at 16536. That takes the index to its highest level on record, extending above the July 31 high of 16528.97. The high priest today has just reached 16540.44.The index is now up...
German DAX index rallies to an all-time high
The heavily-shorted German DAX has squeezed out the shorts. The index rose another 0.7% today and has just hit an all-time high at 16,531.It's up an incredible 12.5% since October 26 in a one-way move.DAX dailyThe rally breaks the previous record high set in...
Lower yields offer a boost to US equities
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,...