The major US stock indices are closing the day higher with the Nasdaq index leading the way. The gains today negated the losses yesterday. Recall, that the major indices are up 4 consecutive weeks. Those strings are on the line for the major indices.For the day:DJI...
Asian Economic Calendar: Key Events and Consensus Expectations for 29 November
The Reserve Bank of New Zealand is not expected to move its cash rate at its policy meeting today. Earlier: From Australia is the monthly inflation reading. The monthly CPI data from Australia does not show all components of the CPI, that'll have to wait for the...
Trade ideas thread – Wednesday, 29 November, 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,...
Charlie Munger dead at 99
One of the all-time great investors has died.Berkshire Hathaway reports that Charlie Munger died today at 99, just over a month shy of his 100th birthday.Munger is best known for his role as the vice chairman of Berkshire Hathaway and his close partnership with Warren...
NZDUSD Decision: Key barometer for buyers at a dual technical level at 0.6092.
The Reserve Bank of New Zealand is set to announce its interest rate decision at 8 PM ET, with expectations leaning towards maintaining the current rate of 5.5% for the fourth consecutive meeting. Key levels to watch in the NZDUSD pair in relation to this decision...
Oil jumps $1.50 as OPEC worries pushed aside
Oil spilled lower today for a brief period before rebounding strongly. WTI is currently up $1.49 to $76.35 after falling as low as $74.86.In focus is this week's planned OPEC+ meeting. Crude stumbled on a report that it could be delayed again but the market began to...
Oil prices move higher as Israel fires rockets and Kazakhstan cuts output
The US crude futures settle the day at $76.41. That's up $1.55 or 2.07%.Although higher, the price still remains below its 200-day moving average at $78.12.Influences today:Early strength in oil prices was linked to reports of Israel firing rockets during the...
USDJPY breaks key support level, eyes on 100-day MA
The USDJPY saw a notable decline during the U.S. trading session, with its downward movement intensifying after breaking below the critical 148.00 level. This break led to a sharp drop, bringing the pair to 147.33, a significant swing low that previously marked the...
US Dollar in Tailspin, Price Action Setups on EUR/USD, GBP/USD and AUD/USD
US DOLLAR FORECAST – EUR/USD, GBP/USD, AUD/USDThe U.S. dollar extends losses, sinking to its weakest point since early AugustMeanwhile, EUR/USD, GBP/USD and AUD/USD break out to the topside, clearing key price levels in the processThis article focuses on the technical...
Fed’s Williams: Encouraging to see decline in inflation pressure
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,...
Month-end rebalancing could keep a lid on equities
Everything is priced in.Today's comments from Waller were the most-dovish of the cycle and that was immediately reflected in Fed funds futures pricing in 100 bps in cuts next year from 87 bps. Initially, stock markets also rallied but they've since given it all...
Morgan Stanley: Top trade for 2024 – Selling EUR/USD, targeting parity by end of Q1
EUR/USD dailyIt takes two sides to make a market. Earlier today, Bank of America was out with a bullish call on EUR/USD for 2024 but Morgan Stanley is taking the opposite side.Analysts at Morgan Stanley highlight their top trades for 2024 and that includes selling...
US dollar bounces, stocks sag following weak Treasury auction
I'm not terribly surprised by the 2.1 bps tail in the 7-year sale today but it certainly got the market's attention. Yields had fallen sharply into the sale and are down 50 bps since last month's sale so there's some natural reluctance to chance. Still, the soft...
US sells 7-year notes at 4.399% vs 4.378% WI
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,...
U.S. Treasury to auction $39B 7-Year Notes: Investor demand will be scrutinized.
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 soars to new heights, bulls take charge
The EURUSD pair is witnessing an expansion in its trading range today. Initially, the range was confined to about 40 pips at the start of the trading day. However, as the day progressed, the range widened, now reaching approximately 74 pips, aligning with the 22-day...
Fed funds futures market now prices in 100 bps in easing next year
December 2024 Fed fund futures contracts now price in 100 bps in Fed cuts next year, up from 87 bps at the start of the day. The bulk of the move came after Fed Governor Chris Waller signalled that he was increasingly comfortable that rates at these levels are slowing...
Canada is facing an extreme contraction in credit
Much of the Canadian economy has been fuelled by an expansion in credit -- especially housing credit -- in the past 20 years. With rates now at high levels, the bill is due and the economy is broadly deleveraging.National Bank yesterday highlighted data from...
USDCAD retreats as dollar selling strengthens, technicals indicate bearish momentum
The USDCAD currency pair is experiencing a decline, reaching new lows in today's trading session, influenced by a broad sell-off in the US dollar across the Forex market. Currently, the pair is moving away from the 38.2% Fibonacci retracement level of the upward trend...
European equity close: Modest moves with Spain leading the way
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,...