JP Morgan CEO Jamie Dimon spoke in the US Congress at a Senate hearing on Wednesday, alongside seven other big bank CEOs.Dimon has been a long-time opposer of crypto "I've always been deeply opposed to crypto, bitcoin, etc."and he reiterated his stance, suggesting it...
Forexlive Americas FX news wrap 6 Dec. Bank of Canada keeps rates unchanged.
The employment statistics continued ahead of the US jobs report on Friday. Today the ADP employment change came in at 103K versus 130K expected. Recall from yesterday the JOLTs job openings showed a greater than expected fall (weaker employment). On Friday the US...
ICYMI: ECB’s Villeroy says disinflation is happening quicker than thought, mulls 2024 cuts
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 Treas Sec Yellen urges bond traders to read data thoughtfully for informed market moves
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,...
Tech stocks drop as Nasdaq Index slumps – Tesla Outperforms, NVIDIA tumbles
The major indices slumped into the close with the Nasdaq index hit the hardest. A snapshot of the close levels and shows:Dow Industrial Average felt -70.15 points or -0.19% at 36054.44. At session highs the index was up 168.01 pointsS&P index fell -17.82 point or...
Asian Economic Calendar: Key Events and Consensus Expectations for 07 December 2023
While its an active data agenda its likely that we'll be waiting for the Chinese trade data for any FX market impact. Its listed at 0300 GMT, which is 2200 US Eastern time, but that is only a guide as this data is not known for arriving on schedule. Exports are...
Trade ideas thread – Thursday, 7 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,...
MUFG forecasts a 10% drop in USD/JPY in 2024
USDJPY dailyMUFG predicts a substantial decrease in the USD/JPY exchange rate over the course of 2024, citing factors including US yield developments, Japan's aggressive inflation policies, and the Bank of Japan's anticipated policy shifts.Key Points:US Yield...
Bitcoin (BTC/USD) Price Forecast: On the Way to $50K or Retracement First?
BITCOIN, CRYPTO KEY POINTS:Bitcoin Pauses Just Shy of the $45k Mark with Options Markets Hinting at a Run to $50k and Beyond.Crypto Industry is the Epitome of Resilience, Market Cap Up $750 Billion Since November 2022.Based on the Grayscale Bitcoin Trust's NAV...
Falling yields no problem for the US dollar
The US dollar is at the best levels of the day as equities wilt. The S&P 500 is down 0.3% and the Nasdaq down 0.4%.The declines in equities and the rally in the dollar come despite falling yields for the second day. US 10-year yields are down 4.4 bps today and...
GBPUSD falls to new session lows, can sellers maintain momentum?
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 futures plummet by 4.07% as global growth concerns intensify
US crude futures are settling at $69.38. That's down-$2.94 or -4.07%. The decline was the largest since a -4.66% decline on November 16. Looking at the daily chart, the next major target area comes near $67 where swing lows from June in July are found.Crude oil...
Biden administration forgives $4.8 billion in student loan debt
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 tests key support levels, Decision time for buyers and sellers
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,...
Deutsche Bank now sees the first ECB rate cut in April
Earlier today, the ECB's Kazimir said market bets for a Q1 rate cut are 'science fiction'. Deutsche Bank disagrees.In a preview for next week's ECB decision, the German bank changed its call and now sees:150 bps in ECB rate cuts in 2024 vs 100 bps previouslyThe first...
G7 Leaders: Reasserts commitment against Russia due to invasion of Ukraine
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,...
Rising NZDUSD defies sellers, uncertain market awaits breakout
Like the AUDUSD, the NZDUSD moved higher in the early Asian session and in the process pushed away from a swing area support between 0.6117 and 0.6125. The swing area was tested on the decline yesterday. That move lower also took the price below the 200-hour moving...
AUDUSD struggles with 200-day moving average; volatility raises uncertainty
AUDUSD is back below it 200-day moving averageThe AUDUSD pair experienced a notable uptrend in the early hours of the Asian-Pacific trading session today. During this period, the currency pair managed to break above a significant technical threshold, the 200-day...
USD/CAD rates key moving averages, buyer’s taking control
USDCAD breaks above its 100-day MA and 200-hour MAThe USDCAD pair is currently showing signs of bullish momentum, as evidenced by its breakthrough above two key technical levels: the 100-day moving average at 1.3573 and the falling 200-hour moving average at 1.3576....
As interest rates fall, the market signals a US homebuilding boom
The US hombuilders ETF $XHB today is at an all-time high in what could be a breakout from a double top.XHB etf dailyThe sharp rise since late October mirrors the drop in US Treasury yields over that time and highlights the pent-up demand for US home ownership. We may...