The AUDUSD moved higher in the early Asian session and in the process extended above the top of a ceiling area between 0.6500 and 0.65229. The momentum above that level took the price to a high of 0.65625 before stalling over the last 5 hours with that level as a new...
WTI crude oil futures settle at $77.60.
Crude oil futures are settling the day at $77.60. That's up $1.71 or 2.25%. On Friday, the price of crude all rebounded 4.04%. However, for the trading week, the price was still down -1.46%.The high for the day reached $78.46. That took the price above its 200-day...
BOE Bailey: Far to early to be thinking about rate cuts
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,...
NASDAQ index now up 1%
The solid 20-year bond auction has helped to push stocks even higher. The NASDAQ index is now up 1% at 14266.38. That takes the index to within 1.28% of its high for the year of 14446.55. That high was reached on July 19.The all-time high for the NASDAQ index was...
US treasury auctions office $16 billion of 20 year bonds at a high yield of 4.780%
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,...
Oil Price Forecast: Recovery Continues as Expectations for OPEC Cuts Grow
OIL PRICE FORECAST:Oil Recovery Now Up 7%+ from Last Week's Lows with $80 a Barrel Now in Sight.Speculation Continues to Mount Around Further Supply Cuts from OPEC+ as the Organization Meets Later this Month.Technical Hurdles Ahead May Prove Insignificant as Sentiment...
The US treasury will auction off a $16 billion of 20 year bonds at the top of the hour
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 and GBPUSD surge to new highs as European traders wrap up the day
As London/European traders look to exit for the day, both the EURUSD and GBPUSD are making new session highs.For the EURUSD, the pair has moved to a new session high of 1.0951. That took the price above the high of a swing area between 1.09255 to 1.09438. On the top...
Fed’s Barkin: Not a big time for offering forward guidance. Will respond to data.
Fed's BarkinFed's Barkin speaking on Fox Business:Not a big time for offering forward guidance.Fed will respond to data.Overall core inflation numbers are coming down nicely, but I lot of that is for goods.Business contacts on the ground report they are still raising...
Goldman: It’s model suggest OPEC+ could make deeper cuts when they meet on November 26
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,...
As a London/European traders look to exit, major stock indices close with mixed results
As London/European traders look to exit, the major European stock indices are ending the day with mixed results:German DAX, -0.11%France CAC +0.18%UK FTSE 100 -0.11%Spain's Ibex +0.79%Italy's FTSE MIB +0.15%As traders exit,Crude oil is building on the 4% gain from...
GBPJPY falls to swing area and 50% retracement of recent move higher. Buyers enter.
In my last technical post on the GBPJPY last week, I spoke about the importance of the 100-hour moving average. That moving average has been a point of support (and resistance) going back in time as a market trended to the upside.Don Friday, the price fell below that...
Crude oil is trading above $78
Crude oil tests it's 200 day moving averageWTI crude oil futures are trading above $78. For the day, the price is up around $2 or 2.56%.Looking at the daily chart, the price is looking to test its 200-day moving average at $78.13. A move above that moving average...
US major indices are now all positive on the day
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 October leading economic indicator -0.8% versus -0.7% 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,...
USDCAD breaks above key moving averages, Bulls take control
The USDCAD has moved higher in early NA trading and in the process moved above its 100-hour MA at 1.37149. Just below that level is a swing area down to 1.3707. That area between 1.3707 and 1.37149 is now support. Conversely, on the top side, the 200-hour MA looms as...
ECB de Cos: ECB is not expected to return to for guidance on monetary policy
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 are trading little changed in early US trading
The major US stock indices are trading mixed in early US trading. The NASDAQ index is higher. The Dow and S&P are trading above and below unchanged.Dow Industrial Average up 11 points or 0.04% at 34959S&P index up 2.0 points or 0.05% of 4516.10NASDAQ index is...
US stock indices are set to open mixed
The major US stock indices are set to open mixedNASDAQ index is up 9.92% for the month (best since January 2023 when it rose 10.68%)S&P index is up 7.64% (best since October 2022Dow Industrial Average is up 5.73% (best sinse October 2022)In premarket trading, Dow...
OpenAI staff threatens to quit unless the board resigns
OpenAI staff reportedly threaten to quit unless the board resigns, according to Wired; 550 employees threaten to leave OpenAI and join Microsoft's (MSFT) AI division run by Sam Altman if the board doesn't resign and reinstate Altman and BrockmanMicrosoft shares which...