The AUDUSD buyers took a shot to the upside earlier today, and in the process extended above a swing area high near 0.65228. The price also moved above and away from its 38.2% retracement of 0.65086. The high price reached 0.6542, but rotated back to the downside. The...
US equity futures lose some ground but still positive
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Kickstart your FX trading for November 15 with a look at the EURUSD, USDJPY and GBPUSD
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 and Treasury yields climb on stronger US economic data
The US dollar has recovered some of yesterday's steep losses after retail sales and the Empire Fed manufacturing survey were stronger than expected.USD/JPY led the way in a rise to 150.77 from 150.25 while other dollar moves were limited to around 30 pips. The dollar...
Empire Fed November manufacturing index +9.1 vs -2.8 prior
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US October retail sales -0.1% 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,...
US October PPI 1.3% versus 1.9% expected
US ppi dips to 1.3%Prior month 2.2%PPI final demand YoY 1.3% versus 1.9% expectedPPI final demand MoM -0.5% versus 0.1% expectedPPI ex Food and Energy YoY 2.4% versus 2.7% expected. Prior month 2.7%PPI ex Food and Energy MoM 0.0% versus 0.3% expected. Prior month...
US retail sales and PPI are due up next
retail sales control groupGiven that CPI was already released yesterday, PPI is unlikely to be much of a market mover but the retail sales report is an important one. Fed officials have emphasized slowing inflation alone isn't enough to bring prices back to a...
The NZD is the strongest and the GBP is the weakest as the NA session begin
The strongest to weakest of the major currenciesThe NZD is the strongest and the GBP is the weakest as the NA session begins. The USD is mixed with the NZDUSD the biggest mover (up 0.47% - lower USD). The GBPUSD is down -0.27% (higher USD). The US CPI data surprised...
ForexLive European FX news wrap: UK inflation eases, markets await more US data
Headlines:Markets:NZD leads, GBP lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields up 3 bps to 4.471%Gold up 0.4% to $1,971.34WTI crude down 0.5% to $77.85Bitcoin up 1.% to $36,228There was not much action on the session as traders...
CADJPY Technical Analysis
CADThe BoC left interest rates at 5.00% as expected but remains prepared to raise rates further if needed.BoC Governor Macklem delivered a less hawkish speech in the press conference compared to his previous remarks. The recent Canadian CPI missed expectations across...
US MBA mortgage applications w.e. 10 November +2.8% vs +2.5% 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,...
Has the dollar finally gone past the apex?
2023 was supposed to be the year of the dollar demise. Instead, things did not pan out that way as the greenback proved to be rather resilient. And so the narrative has been constantly kicked down the road for many months now but is yesterday the tell that we have...
European Commission cuts euro area 2023 growth forecast, looks for rebound in 2024
2023 economic growth forecast lowered to 0.6% from 0.8% previously2024 economic growth forecast seen at 1.2%, then 1.6% in 20252023 inflation forecast seen at 5.6%, then 3.2% in 2024, then 2.2% in 2025High inflation, interest rates, and weaker external demand took a...
Eurozone September trade balance €10.0 billion vs €6.7 billion prior
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Dollar steadies itself for now, US retail sales data eyed
If you compare it to the moves yesterday, it isn't much. EUR/USD is down 0.3% to 1.0847 and GBP/USD down 0.3% to 1.2460 currently. The latter owes to softer UK inflation data earlier, though it also comes amid a push back after running against the 1.2500 mark and near...
Market Update – November 15 – Technicals & FOMO adding to the moves
A strong close on Wall Street was followed by a broad rally across Asian markets. An unexpected slowdown in US inflation boosted bets that the Fed’s tightening cycle is over, which brought down yields and benefited equity markets. UK inflation numbers this...
U.S. Treasuries: from safe haven to risky asset
Last week, Moody's downgraded the U.S. credit rating from stable to negative, citing high budget deficits, deteriorating debt affordability and political polarization.It's a little strange that they are just now realizing this, isn't it?The problems mentioned arose...
Italy October final CPI +1.7% vs +1.8% y/y prelim
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Specific monetary policy up to BOJ to decide, says Japan deputy finance minister
Expects BOJ to conduct policy appropriatelyThis is all fluff at the moment, as it is evidently clear that the BOJ and Tokyo officials are prepping for a turn in monetary policy after we get to the spring wage negotiations in March next year. The question is, with all...