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 stock indices close higher but off their highs for the day
The major US indices are closing the day higher. However, the broader indices in particular are well off their intraday highs:Dow Industrial Average rose 163.51 points or 0.47% at 34991.22. At session highs, the index was up 223.39 points.S&P index rose 7.18...
Palo Alto Network and Cisco earnings after the close
Palo Alto Networks and Cisco will report earnings after the close. For Palo Alto earnings estimates : Last quarter, Palo Alto Networks reported revenues of $1.95 billion, which was a 26% year-on-year increase but slightly below analyst expectations.For the current...
Asian Economic Calendar: Key Events and Consensus Expectations for 16 November 2023
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,...
Trade ideas thread – Thursday, 16 November 2023
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,...
Where do unemployment and CPI have to be for the Fed to start cutting
The Federal Reserve has two mandates: Low/stable inflation and maximum employment.Today, Deutsche Bank looks at the core consumer price index and unemployment rate in the historical context of where rate cuts have begun in the past.The bulk of cuts didn't get underway...
GBPUSD plummets below 200-day moving average, expect bearish trend to continue
The GBPUSD is back below its 200 day moving averageThe GBPUSD ran higher yesterday, and in the process extended toward its 100-day moving average near 1.2512. The high price got within 7 pips of that level at 1.2505 before rotating back to the downside.In trading...
REINZ New Zealand house sales +8.0% vs +5.1% 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,...
A closer look at US petroleum inventories and the problem with diesel
Here are charts showing US inventories of crude oil, gasoline, distillates (diesel) and jet fuel.The crude chart gives you an idea of why oil was rallying into October but has fallen since, as storage has ticked higher after falling below 2022 levels in Sept/Oct.But...
Crude oil settles at $76.66
The price of crude oil is settling at $76.66, down -$1.60 or -2.04%.The high for the day reached $78.77. The low reached $76.45. Looking at the hourly chart below, the run higher yesterday moved higher and above the 200-hour MA and a downward sloping trend line. That...
US-China summit gets underway, meeting expected to last four hours
Biden is set to welcome Xi Jinping and his team. There will be brief statements and pictures, then they will hold private meetings. The talks are expected to continue for 4 hours and we will get read-outs afterwards.Biden:Our meetings have always been candid,...
Bitcoin nears the highs of the year in a 5% rally
Bitcoin dailyBitcoin fell yesterday in a move that was strangely at-odds with the raging rallies in risk assets elsewhere. Some of the selling was because of confusion and bad reports about ETF filings. In any case, BTC found support ahead of the early-November lows...
USD/JPY and Treasury yields break through key retracement levels
USDJPY 10 minsUSD/JPY has cut through the 61.8% retracement of yesterday's fall. This is a bit of a tricky one to draw but the rule of thumb is that if the 61.8% level breaks, it will complete the retracement and given the tailwinds for USD/JPY, I think that's the...
Fed’s Daly encouraged by falling CPI but warns against declaring end of hikes
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 Dollar Forecast: Fed Pivot Ahead? – Setups on USD/JPY, GBP/USD, AUD/USD
US DOLLAR, USD/JPY, GBP/USD, AUD/USD OUTLOOKThe broader U.S. dollar regains ground after Tuesday’s selloffDespite today’s moves, the path of least resistance may be lower for the greenback, especially against some of its top peersThis article delves into crucial...
USDJPY swings amidst 100/200 hour MA battle
USDJPY sets up between 100/200 hour MAsThe USDJPY rallied hard in the early US session with the pair moving from a low near 150.00, above the 200-hour MA at 150.77 and then up to the high of a swing area between 151.17 to 151.33. Just above that is the 100-hour AM at...
US 10 year yield rebounds. What next?
Yesterday US 10 year yield moved down 19.1 basis points. Today there is a rebound with the yield now up around 9.8 basis points at 4.543%. 10 year yield pushed lower but rebounds higher todayTechnically, the fall yesterday took the yield below a swing level at 4.484%...
Atlanta Fed GDPNow model project Q4 growth at 2.2%
Atlanta Fed GDPNow Q4 estimateThe Atlanta Fed GDPNow model is projecting growth in Q4 at 2.2% in it's recent calculations. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.2 percent...
NZDUSD surges above 100-day MA helped by lower CPI data. Can the momentum continue?
The NZDUSD raced higher yesterday on the back of the lower CPI data yesterday. The run to the upside took the NZDUSD above its 100-day MA (blue line on the chart at 0.60017). The run to the upside reached up to high today of 0.6054. That was between a swing area...
European equity close: Third day of gains
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,...