The NZD/USD pair opened with a gap higher but has spent the session oscillating within a narrow range. On the downside, support has held firm near swing levels established on November 14 and 18, as well as during two tests today, between 0.5835 and 0.5839.On the...
ANZ offers up its NZD outlook ahead of the November RBNZ meeting
ANZ highlights that the upcoming RBNZ meeting is unlikely to spark a positive shift for the NZD. Market expectations of a 50bp rate cut align with ongoing dovish policy trends, keeping downside pressure on the NZD against the USD and AUD. While year-end seasonality...
Jack Smith asks judge to dismiss the election interference case against Donald Trump
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 sells 2-year notes at 4.274% vs 4.292% WI
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,...
ECB’s Nagel: increasingly confident over disinflation
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 is trading sharply lower and down close to $2 on the day
Crude oil prices have dropped sharply as optimism grows for a potential peace agreement between Israel and Lebanon. Currently, prices are down approximately $2, trading near $69.13. The intraday low reached $69.01, bringing the price close to the 200-hour moving...
Geopolitics: Israel government has reservations about details of agreement on ceasefire
Al Jezeera is reporting that Israel government has reservations about some details of the agreement of the Israeli Lebanon cease-fire. In other the geopolitical war news: Germany's defense minister Pitorius says that Russia's war on Ukraine is no longer a regional...
US sells $68 billion of 2-year notes at 1 PM
The US treasury will show $68 billion of 2-year notes at 1 PM ET. The 2-year note auction is the first of three coupon auctions this week. The treasury will auction five and seven-year notes on Tuesday and Wednesday respectively before the Thanksgiving holiday on...
You can’t keep the US dollar down
The US dollar is rebounding after a tough start to the week.It comes as the Bessent-bounce unwinds. The bond and stock markets started the day thrilled with the pick of the new Treasury Secretary but stocks have faded with the S&P 500 up 17 points after rising as...
GBPUSD holds swing area resistance and 100 hour MA at session highs. What next?
The GBP/USD pair moved higher from last week’s closing level near 1.2530 but encountered strong resistance around a key swing area between 1.2596 and 1.2614. After testing this zone, buyers gave way to sellers.In the early European session, the price decline paused...
ECB’s Lane: Gradualism is not a universal principle, some times require stronger response
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,...
Can’t keep USD/JPY down even with Treasury yields sinking
USD/JPY 10 minsTreasury yields at the front end are still down 6 bps to 4.31% but they fell as low as 4.29% and have picked up recently. Some of the moves are caught up in the Israel-Lebanon headlines so it's tough to get a clean read.At the same time, this chart is...
Gold tumbles on lower geopolitical risk. Where is the risk now? What are the targets?
Gold Price Decline: A Technical PerspectiveGold prices have dropped over $80 today, a decline of 3.00%, marking one of the most significant setbacks for the commodity this year. This comes after five consecutive days of gains last week. The dip coincides with easing...
Dallas Fed manufacturing business index -2.7 vs -3.0 prior
Prior was -3.0Production -0.9 vs +14.6 priorNew orders -11.9 vs -3.7 priorCapex +7.8 vs +4.6 priorEmployment +4.9 vs -5.1 priorOutlook +5.8 vs -3.3Comments in the report:Chemical manufacturingGlobal industrial demand for chemicals remains stable but at low levels. Our...
Bitcoin bulls bail out as the first run at $100K fails
I worry about the risk mood at the moment as the megacap tech stocks and bitcoin turn lower. Bitcoin bulls were frothing at the idea of $100K in thinner weekend liquidity but $99,400 was the peak and the sellers have been in charge since. They took another run in Asia...
The political temperature continues to rise in France
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 sector steadies as consumer cyclical and industrials soar
Stock heatmap by FinViz.com Mon, 25 Nov 2024 14:46:10 GMTSector OverviewToday’s US stock market showcased a blend of resilience and gains across several sectors. Technology experienced a modest but stabilizing trend with Microsoft (MSFT) holding firm at +0.04%, while...
EURUSD buyers correcting the pair higher to start the new trading week. Buyers make a play
The EURUSD is correcting higher as dollar selling is dominating trading today. Yields are lower with the 10 year now down -11 basis points at 4.300%. The 2-year yield is down -6.4 basis points.Technically, the EURUSD is above a swing area between 1.0483 and 1.0500....
Five-day rally in gold sharply reverses on Lebanon ceasefire report
Gold and oil are under pressure on a report that Lebanon and Israel are near a ceasefire. I'm surprised at the size of these moves as a ceasefire has been close for weeks. In any case, gold is down around $40 on the news and oil down $1.50, both unwinding a big part...
How did Scott Bessent stack up as a fund manager?
Key Square performanceWhen people in markets found out that fund manager Scott Bessent was a leading candidate for Treasury Secretary, the natural question to ask was: How good was he?His fund was Key Square Capital and I searched hard for his returns when his name...