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 settles at $68.61. Lowest level since June 28
Crude oil prices move to the lowest level since JuneThe price of crude oil fell sharply and traded to the lowest level going back to June 28. The low for the day reached $68.22. The high reached $71.96.Looking at the daily chart, the price is getting closer to...
A hint on ‘the last mile’ from Janet Yellen could be an important one
If the Fed didn't have groupthink, it wouldn't have any thought at all. That's why I noted a comment from former Fed Chair Janet Yellen today.She spoke with the WSJ's Nick Timiraos and inflation was a main topic. She was pointedly asked about the ongoing debate in...
US November Federal budget deficit $314 billion vs $301 billion 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,...
Nasdaq hits a new high in fourth straight day of gains
It's tough to find any sellers in the US equity market. Once again today, a soft start has turned into a decent gain in the Nasdaq Composite. It's up 0.4% in the fourth straight day of gains. A turn in the Treasury market has helped to sustain the bid today (US 10s...
ECB’s Villeroy: Inflation path to 2.4% from 10.6% is impressive
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 Treasury auctioned off $21 billion of 30 year bonds at a high yield of 4.344%
High-yield 4.344%WI level at the time of auction 4.347%Tail -0.3 basis points versus 6-month average of 2.1 basis pointsBid to cover 2.43X vs 6-month average of 2.40XDealers 14.23% vs 6-month average of 15.2%Directs 17.3% vs 6-month average of 18.3%Indirects 68.47%...
The US treasury will auction off $21B of 30 year bonds at the top of the hour
The US treasury will auction off $21B of 30 year bonds at the top of the hour. The auction is the last of the coupon auctions front-loaded ahead of the FOMC rate decision tomorrow at 2 PM. Yesterday, the treasury did double duty with the auction of 3 and 10-year...
EURGBP breaks above resistance, signaling potential upside momentum
The EURGBP made a break higher today and in the process extended above the high of a swing area between 0.8583 and 0.85877 (SEE video from yesterday here). The price of the EURGBP has been confined to a range over the last six or so trading days between 0.8546 and...
European equity close: Mostly flat, Spain lags
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,...
AUDUSD volatility continues:Ups and downs in trading shift market sentiment.Wait for break
The ups and downs in the AUDUSD continued in trading today. The low in the Asian session found support buyers against the 38.2% retracement of the move-up from the December 10 low. That retracement level came in at 0.6555. The low price reached 0.6659.The subsequent...
VIX falls to lowest since pre-covid
US equity market implied volatility is collapsing. The VIX is down another 4.2% today and is near 12.0, which is the lowest since before covid.VIX weeklyThe market is buzzing with all kinds of talk about the mechanical reasons for the decline, including heavy options...
Cable recoups post-CPI decline as risk trades improve
Today's trading is starting to remind me of the brutal chop after non-farm payrolls on Friday.We've now seen two USD moves post-CPI and are in the midst of a third. It's left the dollar back to where it started the trading day against the pound.GBPUSD 5 minsThe...
Vix trades to lowest level since January 2020
The Vix index - a measure of stock market volatility - has reached its lowest level since January 2020 (pre-Covid). The level has reached 12.28. The high for the year reached 38.94. A low VIX means the market is becoming more confident about earning expectations. It...
US hits Russia with another round of sanctions but eyes on Zelensky in Washington
The US Treasury sanctioned a long list of Russian companies today that were involved in acquiring machine tools, equipment and key inputs for the war in Ukraine. It also went after companies boosting Russia's energy production and exports.However US and European...
USDCAD rebounds above moving averages but faces resistance at key area
The USDCAD experienced a decline following the release of the US CPI data, briefly dropping below a key support level near 1.35478. However, it quickly rebounded, surpassing several important technical indicators: the 200-hour moving average at 1.3567, the 100-hour...
The rout in oil resumes as WTI falls through $70 again
Oil has fallen for seven straight weeks and is in danger of falling again this week after a $2 decline today.WTI is trading down $2.07, or -3.0%, to $69.25. The drop nearly erases three days of modest gains and comes ahead of weekly private US inventory data later...
US stocks open mixed. Nasdaq and S&P trade above and below unchanged
The major US stock indices are trading mixed with the S&P and Nasdaq trading above and below unchanged (now lower). The Dow is holding onto small gains at the open The CPI data was around expectations. It just wasn't bad but it wasn't better than expected. As a...
The major currency pairs bounce back after initial reaction to US CPI data
The initial reaction off the US CPI data this morning was a dollar move to the downside. HMMMMM. However, that move was quickly reversed. In this video, I outline the technical levels that are in play for the three major currency pairs – the EURUSD, USDJPY, and...
US dollar initially falls on CPI report, then has second thoughts. Here’s why
The market quickly changed its mind about the CPI report.The initial reaction was to sell the US dollar but it quickly reversed and now the dollar is higher. The market was pricing in 115 bps of Fed cuts next ahead of the report, then that rose to 120 bps but has...