As traders look forward to the exits in the US session (with the Thanksgiving day looming tomorrow), the CAD is ending the day as the strongest of the major currencies. The JPY is the weakest.The CAD is the strongest and the JPY is the weakest.The USD has moved higher...
NASDAQ index breaches 2023 high close level but backs off, S&P nears all-time close record
The NASDAQ index reached a high of 14539.61 today. That price extended above the high closing level for the index in 2023. That high close came in at 14358.02 reached on July 19. That was the same day that the intraday high price for that index was reached at...
Gold Price Forecast: Rejection at $2000 Level Leaves the Door Open for a Move Lower
GOLD (XAU/USD) PRICE FORECAST:MOST READ: USD/CAD Remains Rangebound as Canadian CPI Falls More Than Expected. Where to Next?Gold prices continue to find acceptance above the $2000/oz a step to far. Yesterday saw an aggressive push above the resistance level only foe...
Macklem: When it comes to monetary policy, will be taking it one meeting at a time
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,...
Atlanta Fed’s GDPNow estimate predicts 2.1% growth in Q4 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,...
ECB’s Nagel and the endgame: Near terminal rate, stable for now
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,...
More from Bank of Canada’s Macklem: Latest CPI number was certainly encouraging
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 indices close mostly higher. UK’s FTSE 100 is marginally lower
As European traders head for the exits, the major European indices have closed mostly higher. The exception is the UK's FTSE 100 as the market digests the budget from the Chancellor of the Exchequer. The Italy's stock market was also unchanged.German DAX,...
BOC Macklem: Canda interest rates may be high enough
Bank of Canada's Macklem is speaking and says:Canada interest rates may now be restrictive enough.Excess demand that made it too easy to raise prices is now gone.Reiterates that if high inflation persists, the Bank of Canada is prepared to raise its policy rate...
US treasury coupon auctions announced for next week
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 tests key 200-Day MA, signals a bearish bias
GBPUSD on the daily chart is testing the 200 day MAThe GBPUSD is extending to the downside and now tests its key 200-day moving average of 1.2449 (see green line on the daily chart above). The price is also below its broken 38.2% retracement of the move down from the...
USDJPY trades back above its 50% midpoint of the recent move down from the 2023 high
USDJPY above the 50% midpointAs the US yields have reversed and trade near highs with the 10-year now up at 4.431% up 2.1 basis points, the USDJPY has continued its run to the upside. The pair has now moved above its 50% midpoint of the move down from last week's...
Weekly EIA inventories crude oil 8.701M versus +1.160 million estimate
Prior week +3.592 millionCrude oil 8.701M versus +1.160 million estimate.Gasoline 0.749Mversus -0.150 million estimate. Prior week -1.540 millionDistillates -1.018M versus -0.761 million. Prior week -1.422 million.Cushing +0.858M versus +1.925M last weekrefinery...
EURUSD trades to a new session low
EURSUD moves to new lowsThe EURUSD is trading to a new session low of 1.0856. That comes after breaking below a swing area between 1.0878 and 1.0887. US yields are trading at new highs with the 10-year now higher on the day up 0.8 basis points at 4.425%. The 2-year...
Eurozone consumer confidence flash for November -17.9 versus -17.6 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,...
University of Michigan sentiment (final) for November 61.3 versus 60.6 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,...
Univ of Michigan sentiment index for November (final) will be released at 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,...
Major US indices opening higher led by the NASDAQ
Major US indices are opening higher with the NASDAQ index leading the way. Nvidia shares are trading above and below unchanged after releasing their earnings yesterday which be expectations on the top and bottom lines. However, they did caution about China in the next...
ECBs Elderson laying the case for “green”
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,...
GCEX Receives Operational VASP Licence from Dubai’s Virtual Assets Regulatory Authority
GC Exchange FZE (GCEX), part of the GCEX Group, has been granted an Operational VASP Licence for VA Broker Dealer services from Dubai’s Virtual Asset Regulatory Authority (VARA).GCEX, which opened its Dubai office in July 2022 and received its MVP (Minimal Viable...