The Dow industrial average and S&P index could not hold onto gains and are closing the day lower. The S&P index is closing below its 200 day moving average for the 2nd consecutive day. The 200-day moving average comes in at 4235.17. The index is closing at...
Forexlive Americas FX news wrap: US 10-year yields tag 5% then reverse
Markets:GBP leads, USD lagsWTI crude oil down $2.20 to $85.88US 10-year yields down 6.7 bps to 4.85%S&P 500 down 0.1% to 4219Gold down $8 to $1972A turnaround was the story of the day in North American trade. New York woke up to 5% ten-year Treasury yields on a...
Trade ideas thread – Tuesday, 24 October 2023
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,...
GBPUSD is the big mover today, and moves toward swing area/MA target
As the day works toward the close, the GBPUSD is one of the biggest movers of the major currencies. The lower yields are helping. So are technical breaks. In this video, I outline the technical breaks and the next targets including the falling 200-bar moving average...
Goldman Sachs: What to expect from this week’s Bank of Canada meeting
BoC's MacklemSynopsis: Goldman Sachs discusses the anticipated monetary policy stance of the Bank of Canada (BoC) in its upcoming October meeting, emphasizing the central bank's reaction to current economic signals. Additionally, they reflect on their recent trading...
Grayscale court ruling sends Bitcoin ETF approval back to SEC
Bitcoin is up 4.7% today and there is all kinds of speculation about a bitcoin ETF.It sounds like a done deal, though the courts sending it back to the SEC slows it down a tad (did anyone really think the courts would order them to covert it to an ETF...
US crude futures settles at $85.49
The price of WTI crude oil futures are settling down $2.59 or -2.94% at $85.49.Looking at the daily chart the high from August reached up to $84.85. That is the next target on the downside. The low price today could only get to $85.40. Get below that level and traders...
USDJPY falls below 100 hour MA, but 200 hour MA (& lows from Thurs/Fri) are stalling fall
The USDJPY moved below its 100-hour moving average earlier today at 149.82. The break below that MA (blue line) has taken the price to the 200 hour moving average at 149.649 (green line), and the low prices from Thursday and Friday at 149.64. Both those levels would...
Hamas says it is releasing two Israeli hostages
There was a report that 50 hostages with dual citizenship could be released but now a reporter from the Times of Israel is reporting:Hamas says it is releasing two Israeli hostages held in the Gaza Strip. It had previously claimed that Israel refused to accept them,...
The automotive market is an accident waiting to happen
Whenever rates get high, the market worries about housing but I think that's another case of generals fighting the last war. There are global housing markets in big trouble with high rates but the US isn't one of them.Autos are a different story.Prices of vehicles...
Red Cross to receive 50 hostages with dual citizenships held by Hamas – report
I don't know this source, so handle it carefully but i24news.tv reports that 50 hostages (of the roughly 212 held) will be released. A separate report from KAN TV reports that hostages will be released as well, but doesn't cite a number. Earlier, Al Arabiya also...
Bitcoin trades to the highest level since mid July
Bitcoin extends to new highsThe price of bitcoin has extended to a new session hide in the process is trading at the highest level since July 14. The price I just reached $31,307. The current price is trading at $31,199 up 4% on the day.Looking at the daily chart, the...
S&P index back above 200 day MA
S&P indexThe major stock indices or training to new session highs. Looking at the broader S&P 500 index, it is back above its 200-day moving average of 4235.30. Recall from Friday, the price closed below that moving average for the 1st time since March...
REPORT: Hamas to hand over foreign hostages
> REPORT: Hamas to hand over foreign hostages Al Arabiya reporting <!--> --> <!--> Hamas to hand over several foreign hostages.A Senior Israeli official mentioned that there could be around 50 dual-national hostages released, based on conversations...
EURGBP bangs against support for the 2nd time today. 100 hour MA and swing area in play.
The EURGBP - a major cross-currency pair - has seen up-and-down price action today. The initial low found support near the low of a swing area and 0.86982. The subsequent move back to the upside took the price up to 0.8725 before rotating back down again to retest the...
Euro climbs above the October high as risk trades improve, yields fall
EURUSD dailyThe euro is trading at the highest since September 24 as it clears the October 11 high of 1.0640.The rally today is more about the USD side of the equation as it slackens alongside Treasury yields. US 10s are trading at 4.86% from as high as 5.02% earlier...
EURUSD trades to highest level in a month
The EURUSD is trading to a new high after breaking above the swing area between 1.06087 and 1.0616 area. The run to the upside has also extended above a swing area up to 1.0639 and is now looking to test the 61.8% retracement of the move down from the September 12...
US has not seen direct order from Iran to increase attacks against US troops – Pentagon
The Pentagon says the US has not seen a direct order from Iran for its proxies to increase attacks against US troops in the Middle East.I think this is an important headline because it argues against the fears of a broader regional war involving Iran. Or at least it...
Bill Gross says a US recession is coming in Q4: ‘Higher for longer’ is yesterday’s mantra
First Bill Ackman, now Bill Gross.Here's what the retired bond king has to say about the economy now."Regional bank carnage and recent rise in auto delinquencies to long-term historical highs indicate U.S. economy slowing significantly. Recession in 4th quarter. Best...
AUDUSD runs up to 100 hour MA/swing area. Finds sellers (for now).
AUDUSD runs up to 100 hour MAThe AUDUSD has reversed back to the upside- trading to a new session high - after the run lower in the European session failed to extend below October lows. The low price today reached 0.6288. The low price for October was down at 0.62846...