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,...
Economic calendar in Asia 15 December 2023 – Chinese economic activity data for November
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 – Friday, 15 December, insightful charts, technical analysis, ideas
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 GBPUSD surges as BOE takes hawkish stance
The GBPUSD ran higher today spurred on by follow-through USD selling (GBPUSD buying) after the more dovish Fed, and follow through buying of the GBPUSD pair on the back of a more hawkish BOE today.The move to the upside worked its way toward the 1.2800 where old swing...
Crude oil surges, settling at $71.58, marking a 3.04% increase
The price of WTI crude oil futures are settling at $71.58. That's up $2.11 or 3.04%.The high price for the week reached $72.46. The low price was at $69.54. At the highest level today, the price did extend briefly above the November low at $72.37, but momentum could...
Mexico central bank keeps rates unchanged at 11.25%
Mexico central bank sets the benchmark interest rate at 11.25% unchanged.Board was unanimous on rate decisionIn order to achieve orderly, sustained convergence of headline inflation to 3% target, it will be necessary to maintain the reference rate at current level for...
Major indices move into negative territory
The major US indices are all negative now with the Nasdaq index leading the way. At risk is the five they went straight for each of those indices.A snapshot of the market currently shows:Dow Industrial Average unchanged at 37090. It just traded as low as 37051.52...
Atlanta Fed GDPNow forecast leaps to 2.6% from 1.2%
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 Demolished by Fed’s Dovish Pivot, Tech Setups on EUR/USD and USD/JPY
US DOLLAR FORECASTThe U.S. dollar extends its retracement on Thursday, dragged lower by falling U.S. Treasury yieldsThe Fed’s pivot has sparked a dovish repricing of interest rate expectationsThis article examines the technical outlook for EUR/USD and USD/JPYMost...
Is equity market sentiment too bubbly?
One of the most-underrated indicators in the world is the AAII Sentiment Survey, which has been running since 1987 and measures sentiment of American investors. It was a screaming contrarian buy in October 2022 in what turned out to be a sensational rally for tech...
AUDUSD breaks free from trading range, bullish sentiment continues
Going into the FOMC rate decision, the AUDUSD was mired near the middle of an up and down trading range. The FOMC decision sent the price higher, outside of the trading range and the race to the upside was on.Today, the price continued it's move to the upside and in...
ECB sources:ECB policy members are united on forecasting rate cuts later than the market
Bloomberg is reporting that ECB sources are saying that the policy members are largely united on forecasting rate cuts later than the market thinks.The markets are projecting around 145 bps of easing in 2024 and a 52% probability of a cut in March. Today ECB Pres....
Big jump in the Atlanta Fed GDPNow to 2.6% from 1.2% last. Strong growth projected.
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,...
Crude oil surges as traders find support, sparking potential upside
Crude oil bounces off support target area.The price of crude oil is rebounding in trading today after bottoming near swing area support yesterday. Looking at the daily chart above, that swing area comes in between $66.82 and $68.22 (see red numbered circles)....
Lagarde highlighted data dependency for rate cut outlook. The market sees 148 bps in cuts
ECB President Christine Lagarde was under the weather at today's press briefing and led to some less-than-sharp messaging but -- between the lines -- she was clear on what had changed."We are at the medium-term target that we set for ourselves of reaching the 2% at...
European equity close: The early glow fades
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 towards 1.1000 level, opening the foor for more upside momentum
The EURUSD - coming into the trading day - had resistance against the 61.8% retracement of the 2023 trading range at 1.09594 (see video above). When the price in the early North American session moved through that level without much in the way of resistance, the price...
The USDCAD tumbles lower and in the process is stretching toward key retracement target
Like many other currency pairs, the USDCAD is moving in the direction of a lower dollar and in the process is stretching toward a key technical target. The pair is moving closer to its 61.8% retracement of the 2023 trading year. That level comes in at 1.33999. The low...
US retail sales are decelerating with a further dip likely to come ahead – CIBC
US retail sales control groupRetail sales surprised to the upside in November but CIBC warns that there are signs of deceleration that should mount in the months ahead.The CIBC report on US November advance retail sales highlights a modest increase, signaling a...
US October business inventories -0.1% vs 0.0% 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,...