The GBPUSD moved higher today, but at session highs, the pair tested but could not get above the 38.2% retracement of the move down from the July high to the October low. That level comes in at 1.2458. The high price today reached 1.2455.The subsequent move to the...
Credit Agricole: What Would it take to trigger a sustained USD/JPY turnaround?
USDJPY weeklyCredit Agricole's latest analysis highlights the complex dynamics affecting the Japanese yen noting that a sustained recovery in JPY value hinges on shifts in global risk sentiment and potential action from the Bank of Japan.Key Points:JPY's Brief...
Three Fed officials see case for ‘considerable Fed balance sheet decline’ – report
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,...
Fed’s Mester: I am expecting growth to slow below trend
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,...
30-year old Millenials are way behind Boomers at the same age on home ownership
Millennials and those after them often complain about the difficulty in owning a home today compared to prior generations. Is there anything to that complaint?.The St Louis Fed looked at the data and found:At age 30, only 38% of college-educated millennials owned...
Crude oil plummets, hitting 5% drop
The price of WTI crude futures continues its decline with a move below the $73 level. It just traded to a low of $72.76 which took the price down close to 5% on the day.The demand concerns are the catalyst today with initial jobless claims in continuing claims showing...
NY Fed’s Nordstrom: Foreigners bolstering treasury holdings adjusted for market valuations
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 Price Outlook: Brent and WTI Suffer Further Losses
Oil (Brent, WTI) Analysis(EIA) US storage data reveals massive inventory builds as many fear weaker demandSofter economic data continues to flow in for the US (NFP, CPI, retail sales)IG client sentiment offers few clues on potential price path despite net-long...
USDCAD soars to new highs as oil prices plummet, creating bullish bias
USDCAD is above the 100 and 200 hour MAs and 50% midpointThe USDCAD is surging (lower CAD) as the pair reacts to sharply lower oil prices. The price of crude oil is now testing the $73.00 level, down over 4.5% on the day. The price of oil has not traded this low since...
Feds Cook: Risk are two sided. I believe that a soft landing is possible
Fed Gov. Lisa CookFed's Cook is on the wires saying:I believe that a soft landing is possibleRisks are two-sided, must balance risk of not tightening policy enough against risk of doing too muchThere’s a risk that continued demand momentum could slow pace of...
Crude oil trades to a new low
With the weaker US data, the price of crude oil has rolled over and moved to new lows going back to July. The price is currently trading at $73.25 near session lows. That's down 4.25% on the day.Looking at the daily chart, the price is entering into a swing area...
Gold nears $2000 with gains in three of the past four days
Falling Treasury yields and a weaker US dollar have helped gold gain in 3 of the 4 trading days this week. Today it's up $24 to $1983 after starting the week at $1935.One of the under-the-rader moves in the fixed income market this month is the fall in real yields....
US stocks losing some ground. Major indices all negative now
The narrative is shifting a bit in the US stock market. Lower yields are not helping today even though the 10-year yield is down -9.2 basis points. The move lower and yields was helped by weaker data with jobless claims rising, the Philadelphia Fed index still...
KC Fed November manufacturing index -3 vs -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,...
BOE’s Ramsden: Latest projections indicate mon pol to be restrictive for extended period
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EURUSD surges to new highs, bulls eyeing 1.0900 resistance level
EURUSD is moving back away from 50% midpoint.Close Risk now.The EURUSD is extending to a new high for the day and a new high for the week surpassing the swing highs from Tuesday and Wednesday near 1.0887. The high price just reached 1.08944.The push to the upside has...
EIA weekly US natural gas inventories +60 bcf vs +40 bcf 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,...
USDCHF stays below a cluster of resistance keeping sellers in control
The USDCHF corrected higher today and moved back up to test a key cluster of resistance defined by the:100-day moving average at 0.8900 (lower blue line on the chart below)50% midpoint of the move up from the July low at 0.88999, and the Swing area near 0.8900 (follow...
Oil plunges to the lowest since July, boosting disinflation hopes
Oil is on track for its fourth consecutive weekly loss and has plunged today to the lowest since July. WTI crude oil is down $3.60 to $73.11, a drop of 4.2%It's the lowest since July 11 as the market trades on a surprising amount of supply, despite OPEC removing...
US November NAHB housing market index 34 vs 40 expected
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