The major European indices are closing the session higher to start the new trading week.German DAX, +0.73%France, +0.60%UK's FTSE 100, +0.89%Spain's Ibex +0.96%Italy's FTSE MIB +1.38%As European traders look to exit for the trading day, the AUD is the strongest of the...
BOE Mann: Research points to higher inflation from climate shocks, policies and spillovers
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,...
NY Fed economic expectations: Inflation expectations dip modestly
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,...
Bank of Italy: Economic indicators suggest activity remains weak in Q4
The Bank of Italy is on the wires saying:Economic indicators just that activity remains weak in the 4th quarterThey continue to see estimates of 0.7% growth for this yearThe EURUSD has rebounded back toward its closing level from Friday after dipping to the 38.2%...
Philadelphia Fed: Forecasters upgrade growth, job gains and inflation in 2023 and 2024
According to a survey by the Federal Reserve Bank of Philadelphia, the U.S. economic outlook has improved slightly compared to three months ago:Forecasters predict a 1.3 percent annual growth rate for this quarter, up from the previous estimate of 1.2 percent.For...
USDJPY tumbles back toward rising 100 hour MA
USDJPY got within 3-4 pips of the 32 year highThe USDJPY fell quickly from a high of 151.90 down to a low of 151.20. There was nothing newsworthy to prompt the fall, but traders will chatter about fears of Bank of Japan intervention.The low price did find support...
USDCHF bounces off 100 hour MA for the 3rd day in a row. Buyers hold that line.
For the third day in a row, the 100 hour MA stalled the fall. That is a key pattern that will be eyed going forward and also for now, gives the buyers the control Stay above is more bullish. Closer intraday support today, will also eye the broken 38.2% retracement of...
US equities give a bit back after Friday’s big rally
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 with a technical look at the EURUSD, USDJPY and GBPUSD
In this morning video on November 13, 2023, I kickstart the Forex trading day with a technical look at the EURUSD, USDJPY and GBPUSD. What are the biases, the risks, the targets for those three major currency pairs? EURUSD: The EURUSD moved higher in the Asian and...
Is today the day we get a new 32-year high in USD/JPY?
US yields continue to tick higher and USD/JPY is now up 33 pips to 151.85.The 2022 high was 151.94, so we're just a hiccup away from breaking it. Remember, that rally caused BOJ intervention and USD/JPY ultimately fell to 128.00 in the aftermath.It's not often I get...
No comments on the outlook from the Fed’s Cook
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,...
Yields climbing but mostly unbothered by Moody’s outlook change
Friday after the close, Moody's lowered its outlook out the USA's sovereign rating from stable to negative. The move isn't a big surprise given that the US has already been downgraded by S&P and Fitch (the latter was in August). Lowering the outlook doesn't mean a...
ForexLive European FX news wrap: Slow start to the new week
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,...
OPEC dispels negative sentiment in latest oil market report
2023 world oil demand growth forecast raised to 2.46 mil bpd (previously 2.44 mil bpd)2024 world oil demand growth forecast unchanged at 2.25 mil bpd2023, 2024 world economic growth forecasts unchangedThe bloc says that global oil market fundamentals remain strong...
ECB’s Kazaks: Too soon to say that terminal rate has been reached
Sees risk of spillover into inflationNo clear peak of wage growth seen yetThey need to play it this way in order to keep the door open to more rate hikes, or at least keep up that appearance. But for now, as the economy moves to the brink of a recession, the timing to...
Bond market rally in question as traders await key US data releases
At some point last week, it looked like the bond market rally was about to get going again. And then we got a turn on Thursday and Friday, and suddenly traders aren't sure anymore that the rally would be a sustainable one. So, what's the verdict right now as we get...
Sluggish start to the week for major currencies as market remains tentative
Major currencies are not doing much so far on the session as the overall market mood remains rather tentative to start the new week. Treasury yields are little changed while equities are displaying a more mixed picture in European morning trade. Regional indices are...
China October M2 money supply +10.3% vs +10.3% y/y expected
Prior +10.3%New yuan loans ¥738.4 billion vs ¥665.0 billion expectedPrior ¥2.31 trillionAfter a big jump in new loans at the end of Q3, there is a bit of a dip in October (likely seasonal factors) but it comes in above estimates. This is also still higher than the...
Market Update – November 13 – Pivotal week ahead
It’s the day before a possible Government shutdown again, and a pretty pivotal week ahead for company reports and a round of significant inflation data. Asian stock markets traded mixed overnight. Wall Street closed with a strong rally last week, but with...
IC Markets Launches IC Shares, Expanding to Physical Equity Investment
IC Markets, a prominent online trading service provider with over 15 years in the industry, is thrilled to announce the launch of IC Shares, an expansion of their product range to physical equity investment. The existing product expansion encompasses cash equity...