USDCAD is above the 100 and 200 hour MAs and 50% midpointThe USDCAD is surging (lower CAD) as the pair reacts to sharply lower oil prices. The price of crude oil is now testing the $73.00 level, down over 4.5% on the day. The price of oil has not traded this low since...
Feds Cook: Risk are two sided. I believe that a soft landing is possible
Fed Gov. Lisa CookFed's Cook is on the wires saying:I believe that a soft landing is possibleRisks are two-sided, must balance risk of not tightening policy enough against risk of doing too muchThere’s a risk that continued demand momentum could slow pace of...
Crude oil trades to a new low
With the weaker US data, the price of crude oil has rolled over and moved to new lows going back to July. The price is currently trading at $73.25 near session lows. That's down 4.25% on the day.Looking at the daily chart, the price is entering into a swing area...
Gold nears $2000 with gains in three of the past four days
Falling Treasury yields and a weaker US dollar have helped gold gain in 3 of the 4 trading days this week. Today it's up $24 to $1983 after starting the week at $1935.One of the under-the-rader moves in the fixed income market this month is the fall in real yields....
US stocks losing some ground. Major indices all negative now
The narrative is shifting a bit in the US stock market. Lower yields are not helping today even though the 10-year yield is down -9.2 basis points. The move lower and yields was helped by weaker data with jobless claims rising, the Philadelphia Fed index still...
KC Fed November manufacturing index -3 vs -8 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,...
BOE’s Ramsden: Latest projections indicate mon pol to be restrictive for extended period
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 surges to new highs, bulls eyeing 1.0900 resistance level
EURUSD is moving back away from 50% midpoint.Close Risk now.The EURUSD is extending to a new high for the day and a new high for the week surpassing the swing highs from Tuesday and Wednesday near 1.0887. The high price just reached 1.08944.The push to the upside has...
EIA weekly US natural gas inventories +60 bcf vs +40 bcf 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,...
USDCHF stays below a cluster of resistance keeping sellers in control
The USDCHF corrected higher today and moved back up to test a key cluster of resistance defined by the:100-day moving average at 0.8900 (lower blue line on the chart below)50% midpoint of the move up from the July low at 0.88999, and the Swing area near 0.8900 (follow...
Oil plunges to the lowest since July, boosting disinflation hopes
Oil is on track for its fourth consecutive weekly loss and has plunged today to the lowest since July. WTI crude oil is down $3.60 to $73.11, a drop of 4.2%It's the lowest since July 11 as the market trades on a surprising amount of supply, despite OPEC removing...
US November NAHB housing market index 34 vs 40 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,...
Major US stock indices trading down on the day
As US stock trading gets underway, the major indices are trading in the red. At risk is the 4 day win streak for the broader indices. A snapshot of the market 11 minutes into the open and showing:Dow industrial average -45.28 points or -0.13% at 34945.49S&P index...
Unpacking WTI Crude’s Recent Price Shifts
WTI crude oil witnessed a discernible retreat, influenced by several converging factors that underscore the intricate dynamics shaping the oil market. The appreciating value of the Dollar, a perennial force in commodity markets, played a significant role, casting a...
AUDUSD stays below the 38.2% and is back below the 100 day MA
The AUDUSD extended to the upside earlier this week after the CPI data and broke above the 100-day moving average, 38.2% retracement of the move down from the July high, and a Swing area between 0.6500 and 0.65229. However the momentum could not be sustained and...
US October industrial production -0.6% vs -0.3% 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,...
Kickstart your FX trading for November 16 with a look at the EURUSD, USDJPY and GBPUSD
The US initial jobless claims and continuing claims came in weaker than expectations and is making traders think that employment may be showing some cracks. The Philly Fed business index also declined although it was better than expectations.Rates have moved lower as...
US dollar slumps after softer jobless claims data
The US dollar softened across the board after claims for jobless benefits rose to 231K from 217K in the week ending November 11. That's a modest miss but the market is extrapolating on the trend.Wal-Mart today also warned there was a “sharper falloff” in sales during...
Fed’s Mester: Whether further hikes are needed depends on the economy
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 import prices -0.8% vs -0.3% 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,...