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 – Tuesday, 12 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,...
Dow 30 leads the way with a gain of 0.43% on the day
The major indices notched their third straight up day. The NASDAQ, Dow and S&P all closed at new 2023 highs. The Dow is closing at its highest level since January 2022. The S&P is closing at its highest levels since March 2022. The NASDAQ is closing at its...
EURGBP
The ECB and the Bank of England both meet and announce rate decisions on Thursday and like the EURUSD (see post here), the price of the EURGBP seems to be waiting for the next shove from the fundamental news. EURGBP awaits the next shove.Looking at the hourly chart...
Crude oil little changed in trading today
The price of WTI crude oil futures are settling at $71.32. Will That's up nine cents on the day or 0.13%. The low price reached $70.35. The high price reached $71.81. Last week the low price extended to $68.80 before rebounding on Thursday and Friday. The price is now...
EURUSD at critical juncture as Fed and ECB prepare for interest rate decisions
EURUSD trades near a neutral technical area.This week is significant for the financial markets as both the Federal Reserve (Fed) and the European Central Bank (ECB) are set to announce their interest rate decisions. Current expectations suggest that rates are likely...
US Dollar Forecast: All Eyes on US Inflation, Setups on EUR/USD, USD/JPY, GBP/USD
USD OUTLOOK – PRICE ACTION SETUPS ON EUR/USD, USD/JPY, GBP/USDHigher volatility could be on the menu for the U.S. dollar this week, courtesy of several risk events on the economic calendarThe November U.S. inflation report will steal the limelight on TuesdayThis...
Goldman Sachs cautions against premature short positions on Swiss franc
USD/CHF dailyGoldman Sachs advises against taking a short position on the Swiss Franc at the current juncture, arguing that the market may be overestimating the impact of currency intervention by the Swiss National Bank (SNB).Key Points:Overemphasis on Intervention:...
Bitcoin extends decline to 9%
Bitcoin dailyBitcoin has now erased most of last week's gain.Prices of bitcoin have dropped 8.9%, or $4000 today to $40,550. The selling started in Asia without a catalyst and has continued today. Some eyes were on long options bets that were liquidated.A bitcoin spot...
U.S. Treasury sells $37 billion of 10 year notes at a high yield of 4.296%
High Yield: 4.296%WI level at the time of auction 4.282%Tail: 1.4 basis points, Six-auction average 0.9 basis pointsBid-to-Cover: 2.53X, Six-auction average 2.49xDealers: 17.3%, Six-auction average 14.6%Directs (a measure of domestic buyers): 18.87%, Six-auction...
Nasdaq index climbs toward unchanged
The Dow Industrial Average did dip into negative territory by -16.69 points but has been mostly positive for most of the day. The S&P has traded above and below unchanged by around 10 points in either direction. The Nasdaq index has been negative all day. The...
US treasury to auction off $37 billion of 10-year notes that 1 PM ET
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,...
EURJPY buyers push upward, challenging critical resistance levels
EURJPY is currently witnessing a notable shift as buyers are increasingly asserting their presence. They have successfully pushed the pair above a critical swing area, which spans between 156.78 and 157.04. Furthermore, the price has managed to climb above the...
AUDUSD at critical levels: Navigating central bank decisions and market volatility
The AUDUSD currency pair is currently experiencing limited movement within a confined trading range. Notably, there's a visible hesitation to drop below the 38.2% Fibonacci retracement level, which traces back to the rise starting from the low on November 10. This...
US sells 3-year notes at 4.490% vs 4.473% WI
Prior was 4.701%Bid to cover 2.42 vs 2.67 priorThe 1.7 bps tail is a surprise and should help to underpin the US dollar, though it's tough to make a move ahead of more supply. This will make the market jittery ahead of the 10-year reopening in 90 minutes.Yields across...
US 3-year auction coming up next
Today's double-slate of Treasury auctions starts at 11:30 am ET with a sale of 3s. The $50 billion auction is a new issue and should sell just above 3.51%.A concession has built in today and the three-year tenor is an interesting spot given the expectations for Fed...
New York Fed survey: Year-ahead inflation expected at 3.4% vs 3.6% 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,...
The USDCHF buyers tried to move higher but found willing sellers near swingarea resistance
The USDCHF buyers tried to move higher on Friday/today, but found willing sellers near swing area resistance. That resistance came between 0.8815 and 0.8827. The highs on Friday reached 0.8820. The high price today reached 0.8816. The inability to get above that swing...
Shifting tides before the FOMC meeting: Mega-cap stocks lose luster on Monday, so far
In the current investment landscape, a telling divergence has emerged between the broader indices and the behemoths of Wall Street. The S&P 500 heatmap presents a patchwork of green and red, yet a deeper analysis reveals a critical narrative. Indices like the ES...
Gold extends decline to 1%, breaking support
Gold is falling today as the market rethinks some of the aggressive rate cuts that are built into Fed funds futures in 2024. The market now sees 107 basis points in easing, down about 20 bps since Friday's stronger non-farm payrolls report.The US dollar is generally...