The USDCAD has been stretching higher and is extending closer to the high price from 2024 at 1.39458. Move above that level and traders would target the 2022 high at 1.3970. Get above that level and the pair is trading at the highest level going back to 2020.In this...
BOC’s Macklem: We anticipate cutting further if economy follows our forecasts
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,...
Bitcoin and gold could hit all-time highs on the same day
Gold hit a fresh record at $2775 earlier today in a series of record highs this year.Bitcoin may finally be joining the party as it tests the March high of $73,803. The high so far is less than $300 from that level, though it should provide tough resistance.Bitcoin is...
Bitcoin now above $73,000
The price of bitcoin is now trading above $73,000. The high price just reached $73,099 which is the highest level going back to March 14. The all-time record intraday high price reached $73,794. The high closing level is at $73,121.Catalyst for the rise: A Trump...
Nasdaq rises to the best levels of the day as we count down to earnings from Alphabet
The Nasdaq is putting on a brave face as we count down to some major earnings releases. The index is at the highs of the day, up 0.8% on strength from chipmakers and Meta.Another solid gainer is Alphabet as it rises 1.9% to the highest since August 1 as it gets set to...
China stimulus report has the right number but the details are all wrong
The market has been patiently waiting for news on Chinese fiscal stimulus after the finance ministry hinted it was coming following a range of moves to boost financial markets.Today in a report from Reuters, we got a strong sense of what's coming. The report says that...
How can the U.S. government debt bubble be solved?
If people cared about the environment as much as U.S. debt, we might have hit net zero emissions by now. But why think about the planet when it’s easier to predict the collapse of the world’s biggest economy?Every week or so, someone expresses deep concern about...
Video: Why the Canadian dollar will continue to struggle
USDCAD monthlyWith two trading days left in October, USD/CAD has a shot at breaking the monthly closing highs in 2016 and 2020. Much of that will depend on key US economic data on Wednesday and Thursday but even if the loonie hangs on, the outlook is worsening in part...
US treasury auctions off $44 billion a 7-year notes at a high yield of 4.215%
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 to auction off $44 billion a seven year notes at the top of the hour
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,...
European major indices closing the day in the red
The major European indices are closing the day in the red after all the indices closed higher yesterday.The closing levels are showing: German DAX, -0.25%France's CAC -0.61%UK FTSe100 -0.80%Spain's Ibex -0.91%Italy's FTSE MIB -0.26%In the European debt market:Germany...
Broadcom and OpenAI developing NAI inference ship
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,...
Bitcoin pushing toward record highs. Into the topside swing ceiling.`
The story is that a Pres. Trump is more digital currency friendly and that has the price of Bitcoin higher for the 3rd straight day. The price has moved from a low on October 24 at $65,000 to the high price reached today at $72,756 or +11.93%. Since the September 6...
NASDAQ index pushes for a record close (again)
The NASDAQ index is trading up 96 points or 0.52% at 18663.79. That takes the price above the July 10 high closing level of 18467.58. On Friday, the price high traded above that level intraday but failed. In trading yesterday, the high price also moved above that high...
EURUSD range-bound ahead of election/data/earnings? If so, what does that look like?
The EURUSD has been trending lower since peaking in mid-September. Rates moved higher. The markets seem to be pricing in a Trump victory with higher deficits/higher inflation from tariffs and tax cuts. Later this week - ahead of the eletion the US jobs report, the...
US dollar pulled in both directions by JOLTS and consumer confidence.
In the hierarchy of economic indicators, JOLTS and consumer confidence are about even. Normally, I would rank consumer confidence higher as it's more of a forward looking indicator.However, more recently Fed officials have frequently cited falling job openings in the...
Dallas Fed services sector outlook +2.0 vs -2.6 prior
Revenue index +9.2 vs +10.1 priorEmployment -0.2 vs +2.0 priorWages and benefits 16.3 vs 12.3 priorRetail sales survey -11.4 vs -8.9 priorComments in the report:UtilitiesWe feel that the pace of general business has increased on the positive side.Professional,...
Atlanta Fed final Q3 GDPNow estimate: 2.8% vs 3.3% prior
The final Q3 tracker is out from the Atlanta Fed and it's a sizeable downgrade to 2.8% from 3.3%. The official report is due out tomorrow."After this morning’s Advance Economic Indicators release from the US Census Bureau, the nowcast of the contribution of net...
US October consumer confidence 108.7 vs 99.5 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,...
US JOLTs job openings 7.443M vs 8.000M estimate
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,...