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 stocks close higher for the 2nd consecutive day this week
The major US stock indices closed higher for the 2nd consecutive day this week, but the month of October was bleak for the major indices. The final numbers for the day are showing:Dow industrial average up 123.78 points or 0.38% at 33052.75S&P index up 26.98...
Goldman Sachs sees Brent crude oil prices to USD100/bbl by June as stocks ‘descend gently’
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,...
RBNZ Financial Stability report flags dairy prices, labour market as risks
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,...
New York Federal Reserve ‘core’ inflation data 2.9% in September (prior 2.6%)
The New York branch of the Federal Reserve released its Multivariate Core Trend (MCT) inflation measure on Tuesday ICYMI.The main points highlighted by the Fed:Multivariate Core Trend (MCT) inflation was 2.9 percent in September, a 0.3 percentage point increase from...
In addition to the Fed decision, the employment data for the month will start tomorrow.
In addition to the Fed decision tomorrow at 2 PM, the decision will be accompanied by the start of monthly employment statistics. ADP national employment for October is expected at 150K vs 89K last month. This statistic was reworked and reworked again over time. Now...
WTI crude oil futures settle at $81.02
The price of WTI crude futures is settling in at $81.02. That is down -$1.29 or -1.57% in the lowest price since August 30.Looking at the daily chart, the move lower has now taken the price below its 100-day moving average at $81.28. The next target comes in at the...
NZDUSD below MA support. What next?
Like many pairs today, the NZDUSD has seen up-and-down price action. For it, the pair fell in the Asian session, helped by weaker China data. The fall in the Asian session stalled just ahead of the 100-hour MA (blue line on the chart below). The run higher reached up...
US stock indices erase declines
The major US stock indices have now erased earlier declines. Each of the indices are now higher on the day.Dow industrial average was down -141.85 points at session lows. It is currently up 46.45 points or 0.14% at 32974.63S&P index was down -13.71 points at...
USD/JPY keeps on climbing, nears the October 2022 spike high
USDJPY dailyThe last time USD/JPY rose this high, it was beaten back by 700 pips within 24 hours.It will be a high-stakes game when Tokyo returns today. The ministry of finance often warns against one-sided moves and that's exactly what we've seen today with USD/JPY...
ECB’s Nagel: Rates must be sufficiently high for sufficiently long
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,...
Dollar continues its run higher.
The USD is now the strongest of the major currencesThe USD continues its run to the upside in the US session and is now the strongest of the major currencies. At the start of the New York session, the greenback was near the middle of the "strongest to the weakest"...
Canadian GDP is a clear sign that rates will need to come down next year – CIBC
Today's advanced reading on GDP suggested a flat reading for Q3 following a slight contraction in Q2. That's much softer than the Bank of Canada's forecast for +0.8% GDP growthGoods-producing industries have been in decline for five consecutive months, with...
Gold (XAU/USD) Prices Flirt with $2000 Level, Eyeing the FOMC Meeting for Fresh Impetus
XAU/USD, DXY PRICE FORECAST:MOST READ: S&P 500 and Gold (XAU/USD) Take Diverging Paths Ahead of a Raft of Data ReleasesGold prices fell to a low of around $1990/oz in the Asian session before a bounce in the European session has resulted in the precious metal...
Oil edges higher, eyes on Venezuela after opposition primary suspended
Earlier this month, the US granted Venezuela sanctions relief in exchange for holding fair elections this year.That plan appears to be unravelling quickly as yesterday Venezuela’s electoral court said it is suspending opposition primaries days after President Nicolas...
AUDUSD sellers push the price below the 100/200H MA. Ups and downs continue for the pair
The AUDUSD moved higher yesterday, and in the process tested a downward-sloping trendline on the hourly chart connecting the high from October 11 and the high from October 25 (see red numbered circle 3 on the chart below). The price high also got close to the 50%...
Gold climbs above $2000 as more sovereign buying seen
gold dailyThe US dollar is strong today but that hasn't halted the advance in gold. It's up $9.50 to $2005. Traders are eyeing last week's high of $2009 as short-term resistance.The World Gold Council today reported that central banks bought 800 tonnes in the first...
USDCHF takes its clues from support holding at the 200 day MA. Surges to the upside.
The USDCHF takes its clues from support holding at the 200-day MA. The price of the USDCHF, has surged to the upside away from that MA level over the last few hours as dollar buyers took more control in the forex market. That move took to the price above the 50%...
Dallas Fed service sector outlook -18.2 vs -8.6 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,...
USDCAD runs higher and approaches the high from last week
The USDCAD reached above the high of a swing area on Friday to trade and the topside trendline on the daily chart near 1.3861 area. The high price reached 1.38799 before stalling. Yesterday the price fell back below the broken trendline moving toward support near...