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,...
USDCAD steps below key levels, bearish momentum builds intraday.
The USDCAD moved higher in early trading today, but sellers have started to take more control. technically, the price moved up to test the broken 38.2% retracement of the move up from the July low. That level came in at 1.35902. The high price 1.3591. At the high, the...
ECB’s Vujcic: My baseline is for no more rate hikes and data dependent decisions
EURUSD 10 minsThe euro is down 14 pipis today to 1.0832 but bond yields throughout Europe are much lower today.The main comments today came from the ECB's Schnabel who said that rate hikes are 'quite unlikely' after a 'remarkable' fall in inflation."When the facts...
US dollar dips after surprise fall in US job openings
US job openings fell to the lowest since March 2021 as the post-pandemic hiring boom fades. That decline will make the Fed more comfortable in ending the rate-hiking cycle and switching to rate cuts in 2024.Job openings in the JOLTS report fell to 8.733 million from...
JOLTs October job openings 8.733M vs 9.300M estimate. Lowest level since March 2021.
Prior month 9.553M (revised to 9.350M)Hires 3.7% vs 3.7% prior. Separations rate 3.6% vs 3.6% prior.Quits 2.3% vs. 2.3% prior. It was the 4th consecutive month at the same rateThe low job openings for 2023 was at 8.92M in July. This is the weakest since March...
US November ISM services 52.7 vs 52.0 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 S&P Global November global final services PMI 50.8 vs 50.8 prelim
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 opening lower. The declines are led by the NASDAQ index.
The major US stock indices are opening a lower led by the NASDAQ index. Yesterday, the NASDAQ index fell -0.84% outpacing the declines by the S&P of -0.54% and the Dow industrial average of -0.11%.The major indices are up for 5 consecutive weeks, but with declines...
US equities set for a second day of selling
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,...
RBA keeps rates unchanged. A dovish slant spurs on a AUDUSD drop.
The Reserve Bank of Australia kept rates unchanged at 4.35%. However, instead of being more hawkish, the central bank was perceived to be more dovish. That helped to send the AUDUSD lower. Technically, the price broke below its 200-hour moving average (green line in...
Russia’s Novak: We will tighten restrictions on oil and fuel supplies as early as Dec
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,...
Forex Kickstart: Technical Analysis of EURUSD, GBPUSD, and USDJPY for December 5.
In the morning forex kickstart video, I outline the technicals that are driving 3 of the major currency pairs – the EURUSD, the GBPUSD, and the USDJPY.EURUSD: The EURUSD is trading above and below its 100-day moving average for the 2nd consecutive day at 1.0821. Also...
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Oil threatens a five-month low as the selling continues
The oil bulls are giving up.Today is the fourth straight day of selling since the OPEC+ decision to cut output and it could be the seventh consecutive week of declines. Increasingly, the fear in the energy market is that OPEC is out of bullets and that we're heading...
ISM services and JOLTS highlight the US economic calendar
The December hangover in markets continues today with the US dollar higher again despite lower yields. Asian stocks were particularly soft but Europe has been solid.I don't think the trading day will really start until 10 am with the release of November ISM services...
ForexLive European FX news wrap: Dollar remains steady, bond yields slip further
Headlines:Markets:JPY leads, AUD lags on the dayEuropean equities mixed; S&P 500 futures down 0.4%US 10-year yields down 6 bps to 4.226%Gold down 0.3% to $2,024.61WTI crude flat at $73.07Bitcoin down 0.6% to $41,7979It was a session mostly swayed by risk flows, as...