Morgan Stanley outlines its strategic perspective on the USD for 2024, balancing its bullish long-term outlook with current recommendations against taking long USD positions.Key Insights:Strategic Outlook for USD in 2024:Morgan Stanley forecasts a rise in the USD...
US stocks trading to new lows with the NASDAQ index is now down -0.73%
The broader US stock indices are getting it ahead of the earnings after the close including Microsoft and Alphabet. The NASDAQ index is leading the way with the decline of -124 points or -0.80% at 15504.51.The S&P index is now down -11 points or -0.22% at...
After the close Alphabet and Microsoft to report.
After the close, both Microsoft and Alphabet will announce their latest results. What are analysts expecting?Adjusted Earnings Per Share (EPS): Expected $2.77, up from $2.32 in the same quarter last year. That is an increase of 19.39%Revenue: Expected $61.14 billion,...
ECB’s Nagel: Inflation is absolutely moving in the right direction
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 equity close: Italy and Spain lead the gains on the day. Modest monthly gain
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,...
Oil reverses losses to climb $1 with the US set to respond in the Middle East
There has been no lack of oil news so far this year.Headlines from the Red Sea and Middle East have been non-stop and the situation has undoubtedly worsened. However oil has struggled to maintain a bid on shipping woes as we saw as this week's pop was faded...
AUDUSD range gets more confined. That has traders anticipating a move outside the range.
The last few weeks in the AUDUSD has seen the trading range get progressively more confined. The range last week was only about 75 pips. This week, the range is only about 50 pips over the first two trading days of the week. When the market non-trends in up-and-down...
Biden: We do not need a wider war in the Middle East
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,...
Dallas Fed Texas service sector outlook index -9.3 vs -8.8 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,...
US dollar jumps after strong job openings data
US December job openings in the JOLTS report climbed to 9.026 million compared to 8.750 million expected. The counter-trend turn may give FOMC officials pause at the two-day meeting that just got underway.The market is expecting something of a dovish shift from Fed...
ECB’s Makhlouf: We are confident in sustainably reaching our 2% target
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,...
JOLTs job openings for December 9.026M vs 8.750M estimate
JOLTS data is near post pandemic lowsPrior month 8.790M revised higher to 8.925MJOLTs job openings for December 9.026M vs 8.750M estimateQuits rate unchanged at 2.2%. The quits rate can serve as a measure of the workers going this or ability to leave jobs.Layoffs and...
US January consumer confidence 114.8 vs 115.0 expected
Prior was 110.7 (revised to 108.0)Details:Present situation index 161.3 vs 148.5 priorExpectations 83.8 vs 85.6 prior1 year Inflation 5.2% vs 5.6% prior -- lowest since 2020Jobs hard-to-get 9.8 vs 13.2 prior“January’s increase in consumer confidence likely reflected...
USDCAD bounces off support but found willing sellers near MA level as well. Battle is on.
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,...
Canadian home builder sentiment falls to survey low
Canada's housing market is a mess.A huge surge in immigration combined with a jump in mortgage rates created both a supply and affordability crisis. Unfortunately, home builders aren't going to come to the rescue.The latest quarterly survey from the Canadian Home...
Major indices are little changed in early US trading
Major US indices are trading little changed in early US trading. The Dow Industrial Average and S&P closed at record levels yesterday. Stops rallied after the U.S. Treasury and out-of-state lower-than-expected auction calendar ahead. That sent yields lower and...
Gold rises to a two-week high in the second day of gains. What’s next
Gold dailyGold is traditionally strong in January and early February on buying ahead of Chinese new year celebration but this year has been an exception. That's due in large part to broader US dollar buying and rising yields in January that are a result of stronger US...
The USDCHF is stuck between MA support and resistance defined by MAs and a key floor
The USDCHF is will tire in the European session, but found willing sellers against it falling 100-hour moving average at 0.86386. Earlier, support was found against a key floor level at 0.8605. That level was defined by a series of lows going back to January 17,...
Kickstart your FX trading for Jan. 30 w/ a technical look at the EURUSD, USDJPY and GBPUSD
The video above outlines the technical's driving the major currency pairs including the EURUSD, USDJPY and GBPUSD. For the EURUSD, the pair moved down and back up in trading today, and in the process as moved up - and above - the 200-day moving average of 1.08413....
Case-Shiller 20-city US house price index +0.1% vs +0.5% 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,...