The S&P 500 touched a session low, down 96 points or 1.6%. The Nasdaq is hurting worse, down 2.6%.Worryingly, some of the highest flyers are being hit hardest today:MSFT -5.6%NVDA -4.7%META -4.6%$AMD -3% (after a 10% decline yesterday)SOXX semiconductor ETF...
New lows for the broader indices
The broader indices are trading to new session lows: S&P index is down -93 points or -1.60% at 5720.40NASDAQ index is down -473 points or -2.55% at 18132.97.Looking at the NASDAQ index, it is trading above and below key support near 18146.61. The price is just...
October non-farm payrolls preview by the numbers: Hurricane and strike effects in focus
Consensus estimate +113K Estimate range +0K (ABN AMRO) to +200K (DBS Bank)September was +254K Private consensus +90K versus +223K priorUnemployment rate consensus estimate 4.1% versus 4.1% priorPrior unrounded unemployment rate 4.0510%Prior participation rate...
Mawari Announces Node Sale to Bring Immersive Content to the World
Mawari Network, a spatial computing DePIN (Decentralized Physical Infrastructure Network), has announced a limited node license sale. Already a pioneer in immersive content, the node sale will make Mawari’s 3D streaming technology more scalable and accessible for...
Nexo Unveils Strategic Rebrand as a Premier Digital Assets Wealth Platform
Nexo, a leading digital assets institution, today announced its major rebrand and platform redesign, marking its evolution from a crypto lending pioneer to the first comprehensive and compliant digital assets wealth platform. Unveiled on Bitcoin Whitepaper Day, this...
USD/JPY: Make or break at 151.30 – SocGen
Societe Generale highlights 151.30 as a crucial support for USD/JPY, as the pair’s recent gains suggest strong upward momentum. While signals of a pullback are beginning to appear, maintaining above 151.30 could extend USD/JPY’s targets to higher levels.Key...
European indices close lower. German DAX and France’s CAC down 1%
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,...
UK Chancellor Reeves: Tax increases in budget were necessary
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 break in the USDCAD failed. Reverses higher to 2024 high.
The price of USDCAD fell below its 100-hour moving average currently at 1.39028 (see earlier post). Last week, the price fell below that moving average line, but reversed back higher. The week before it fell below the 100-hour moving average but also failed on the...
Starmer spokesman: We do not comment on market movements
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,...
BMO now thinks Bank of England likely to hold rates unchanged next week
Our friends over at Newsquawk picked up a BMO note that argues that the Bank of England is more likely to hold rates unchanged in light of the UK budget and the reaction in bond markets."Considering the composition of the MPC, and the effect the budget measures will...
Break higher in the EURUSD fails…
Earlier today, the buyers in the EURUSD took the price outside the Red Box, that has informed the pair over the last 11 trading days. There has been support down at 1.07609, and resistance 1.08725. The break higher today took the price up to 1.08874 before rotating...
GBPUSD breaks lower. Falls below support at 1.2938 and tumbles to midpoint/swing area
The GBPUSD has moved below the 1.2938 level. That level corresponded with a number of swing lows and highs going back to mid-July (see red numbered circles on the chart below). See earlier video HERE at 4:15 mark. Last week the price fell below that level as well, but...
Gold prices fall more than $50
Has the market finally remembered that an election is coming?'Sell everything' is the mantra today as market participants head for the sidelines in stocks, bonds and precious metals. Gold is getting hit hard today after a relentless rally for three months. It's down...
The first look at Q4 from the Atlanta Fed’s GDPNow model is 2.7%
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,...
Why you shouldn’t trade based on political polls
Politico is out with a new poll and it once again show a very tight race that comes down to Pennsylvania, which is near deadlocked.Pennsylvania: Harris 48%; Trump 47%Michigan: Harris 49%; Trump 45%North Carolina: Trump 47%; Harris 45%New Hampshire: Harris 50%; Trump...
NASDAQ index down over -2.0%.
The NASDAQ index is now down -2.6%. The current prices trading at 182 and a .90-389 points or -2.09%. The low price reached 18214.84.In 2024, there have been 11-days where the price fell over 2.0%. The worst decline was a -3.64% decline back on July 24. On August 5...
The USDCAD dips below 100 hour MA. Seller have a win. Yipped. Can they keep control?
The USDCAD has dipped below the 100 hour MA at 1.3900. Last week, the price dipped below the MA but failed after finding support at a swing level, and bounced.This is another try that gives the sellers a win, IF the sellers can continue the momentum going. If so, the...
UK bond blow up: A preview of things to come in the US?
The pound has finally cracked.It was able to ignore the run up in gilt yields for a time but we may have hit some kind of breaking point now. UK 10s are up 16 bps to 4.51%, which is the highest since Nov 2023.The pound didn't care until it did...in the past few...
S&P 500 breaks last week’s low
SPX dailyThere is a bit of a 'sell everything' mode underway and the S&P 500 is down more than 1% now and has broken last week's low. The bond market isn't helping as UK gilt yields are now up 15 bps in what could be a preview of what's to come for Treasuries if...