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 military strikes targeting Iran-backed terrorists in eastern Syria
A Pentagon statement confirms that US military have conducted self defense airstrikes on a facility in Eastern Syria. In response to attacks against US personnel in Iraq and Syria by IRGC-Quds Force affiliates.Iranian and Iran-backed attacks threaten to escalate the...
UBS bullish oil – forecast Brent crude toward $100 / barrel, potential for $110
Brent crude has dropped under USD 80 / bbl for the first time since prior to the Hamas terrorist attacks on Israel.UBS remain positive on oil, expecting it to move back between USD 90 and 100. In summary from their note:still rising global demandstill tight suppliesUS...
ICYMI – Former ECB President Draghi says a eurozone recession is almost sure to happen
Former European Central Bank President, and former prime minister of Italy, Mario Draghi was cited in a report on a conference organised by the Financial Times.The FT is gated but other news services have picked up the main points made by Draghi:euro zone is nearly...
Forexlive Americas FX news wrap 8 Nov:The USD moves higher. Nasdaq/S&P win streaks extends
There were no major economic releases in the US today. The only release was wholesale sales for September which were stronger than expected at 2.2% vs 0.8%. That should be a boost to an already strong 3rd quarter. There was hope that Fed Chair Powell and Fed Governor...
Fed’s Jefferson doesn’t comment on monetary policy or his economic outlook
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,...
Senior UK Treasury official says the UK is not at a recession now
Andrew Griffith Is UK Economic Secretary to the Treasury.He was asked about a possible recession and gave a non-answer (IMO)saying that is not where the UK is nowAlso:the choice we have made for the moment is how we can bear down on inflationHe was asked about tax...
Economic calendar in Asia Thursday, 9 November 2023 – China inflation data, BOJ summary
Philip Jefferson, Vice Chair of the Board of Governors of the Federal Reserve System will be speaking at 1645 US Eastern time. These will be closing remarks from the Federal Reserve Division of Research and Statistics Centennial Conference. Earlier Powell gave the...
Trade ideas thread – Thursday, 9 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,...
The S&P and Nasdaq extend their winning streaks
The broader S&P and Nasdaq indices extended their winning streaks. The S&P is not up 8 straight days and the Nasdaq is up 9 straight days. The Dow ended its 7-day win streak with a modest decline today. The final numbers are showing:Dow industrial average fell...
The broader stock indices are negative as the clock ticks toward the close but just barely
The broader S&P and NASDAQ index are marginally lower (the S&P is virtually unchanged). The Dow industrial average is down around -0.20% with around 45 minutes left in the trading day.At stake are up streaks of 8 days for the S&P and Dow indices and 9 days...
USDJPY dips below intraday support at 150.74 but not for long
USDJPY moves above 151.00In an earlier post, I spoke to the sellers near the 151.00 level. That level corresponded with the price just prior to the FOMC rate decision last Wednesday. The price trended down reaching a low on Friday at 149.180.The inability to get above...
US crude futures settle at $75.33
The price of WTI crude futures are selling sharply lower. The price closed at $75.33. That is down $2.04 or -2.64%. Since Friday's high at $83.56, the price has fallen -10.29%.Crude oil is below its 200 day moving averageTechnically, the price fell and closed below...
GBPUSD moves up to the 100 hour MA and stalls
The GBPUSD has moved to a new high and in the process, the price has reached the 100-hour MA at 1.23014. It is also close to the 1.2300 natural resistance level.One technical targets are reached there tends to be a stall, and that is what we are seeing as buyers take...
Encouraging signs are emerging for US inflation
US m/m inflation CPIThis week is dismal on the economic data front but next week begins to get interesting because of the November 14 release of the latest US CPI report.It's still early for estimates but the consensus so far is +0.1% m/m on the headline. That's...
BOC minutes: Members were divided on whether rates would need to be hiked again
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,...
WTI crude oil futures falls below $75 per barrel
The price of WTI crude futures has now breached the $75 level. The low price just reached $74.96. That is the lowest level since July 20. The closing level at the end of the year was at $80.42. The high price for the year reached $94.99 (on September 28). The low...
The US treasury auctions off $40 billion of 10 year notes at a high yield of 4.519%
The U.S. Treasury auctioned off $40 billion of 10-year notes. The key components showed:High Yield: 4.519%. 6-Auction Average 3.999%, Previous 4.61%Tail: 0.8 basis points. 6-Auction Average 0.9 basis points, Previous 1.8 basis pointsBid-to-Cover: 2.45X. 6-Auction...
The US treasury to auction off $40 billion of 10 year notes at the top of the hour
The U.S. Treasury will auction off $40 billion of 10 year notes at the top of the hour. Below are the key components of the auction, along with the 6 month averages of the components. Traders – and the market – will judge the success or failure of the auction versus...
US Dollar Setups: EUR/USD Flat, USD/MXN and USD/CAD Shine in Risk-Off Setting
Most Read: Gold, Silver Price Forecast - XAU/USD & XAG/USD May Get Boost from Macro TrendsThe U.S. dollar, as measured by the DXY index, was a tad firmer on Wednesday, extending its rebound for the third day in a row after last week’s overextended selloff in the...