The market looked like it might be at the breaking point heading into ISM services, with evidence mounting of a resilient economy and firming inflation pressures.Then the data hit and it showed the opposite. The ISM services index missed estimates and the prices paid...
AUDUSD moves higher after softer ISM data, and towards a key cluster of moving averages.
The AUDUSD moved above a key target resistance level at 0.6523 after the weaker than expected nonmanufacturing ISM data. The move to the upside has now taken the price up toward a cluster of moving averages including the 200-day moving average at 0.6543, the 100 and...
EIA weekly US crude oil inventories +3210K vs -1511K
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,...
Whoops. ISM nonmanufacturing reverses the USD (higher), yields (lower) & stocks (higher).
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,...
ISM March services index 51.4 vs 52.7 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 muddles along today but remains above key moving average support.Can that continue?
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 March S&P Global final services PMI 51.7 vs 51.7 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,...
The secret to strong US employment growth: A population increase
Late last year, Canada was hit with a bombshell: There were 1 million more people in the country than believed. For a country of 40 million people, that's an incredible mis-count. It helped to explain why Canadian jobs data had been so strong in 2023, despite a...
Canadian March S&P Global services PMI 46.4 vs 46.6 prior
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,...
USDCHF hits new highs, bullish momentum strengthens
The USDCHF has pushed to a new 2024 high price today at 0.90943. In the process, the price is moving away from its 38.2% retracement of the longer-term move down from the 2022 high. That retracement level comes in at 0.90252. Recall at the end of last week the price...
ECB’s De Cos: Eurozone inflation is positive news
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,...
Kickstart your FX trading for April 3 w/ a technical look at the EURUSD, USDJPY and GBPUSD
The better-than-expected ADP employment report as pushed the US dollar higher. That rise is being led by the USDJPY which is pushing against the 2022, 2023, and 2024 high prices between 151.91 and 151.967. The high price today has reached 151.905 so far. Breaking...
Fed’s Bostic: Economy is maintaining strong momentum that it’s had. Sees Q4 rate cut
Everyone has been expecting the economy to slow at a faster pace but I'm not hearing that it's picking upIf there's any weakening, it's at a very incremental levelOver the longer run, the economy needs to slow to get to longer-run inflation targetSays he is still...
USD/JPY approaches the 152.00 barrier after strong US jobs data
Keep an eye on USD/JPY.It's up 32 pips to 151.88. That's just a sneeze away from last week's high of 151.97, the November high of 151.91 and the October 2022 high of 151.94.The 152.00 is clearly a line in the sand that Japanese authorities don't want to cross and a...
US markets reacting to the stronger ADP report
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 ADP national employment 184k versus expectations of 148k
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 March ADP employment +184K vs +148K 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,...
Heads up for ISM services PMI coming up at 14:00 GMT
At 14:00 we are expecting the march release of the ISM services PMI.Markets will be paying additional attention to this one following the upside surprise in the manufacturing data on Monday.With the last print, majority of measures stayed in expansion, while...
European Inflation Declines. Will the ECB Cut Rates First?
The Euro has increased in value over the past 24 hours, but inflation is declining and indicates a weaker Euro. Economists now believe the European Central Bank is likely to take earlier action and adjust the Main Refinancing Rate. German monthly inflation increases...
US mortgage applications prints at -0.6% versus expected of -0.7%
US mortgage applications data:MBA mortgage applications: -0.6% (prior -0.7%)Mortgage market index: 195.6 (prior 196.8)MBA purchase index: 145.6 (prior 145.7)MBA refinancing index: 4536.5 (prior 460.9)MBA 30-year mortgage rate: 6.91% (prior 6.93%)Notes on mortgage...