With one hour to go in stock trading, the major indices are trading their highs for the day:Dow Industrial Average is up 322.21 points or 0.96% at 33992S&P index is up 47.21 points or 1.09% at 4374.96NASDAQ index is up 167 points or 1.25% at 13575.39The gains come...
Jerusalem Post: Delay in Israel ground attack to to various reasons
According to the Jerusalem Post, The IDF's (Israeli Defense Forces) planned invasion of Gaza, initially expected on Friday or Saturday, has been delayed for several reasons.Concerns have arisen that Hezbollah might wait until most IDF ground forces are in Gaza before...
Gold comes off of moving average resistance.
The price of gold surged on Friday due to anticipated geopolitical risks in Israel, reaching a high of $1932.88 and surpassing both the 100 and 200-day moving averages in the process (blue and green lines on the chart above). However, in today's trading, the price hit...
WTI crude oil futures settle at $86.66
The WTI crude oil futures settled down $1.03 or 1.17% at $86.66.The high for the day reached $88.29. The low for the day extended to $86.37. Looking at the daily chart, the high price got within $0.13 of a swing area near $88.42. Sellers seemed to lean against that...
Lagarde: The ECB is watching oil for inflation risks
Geez, Janet Yellen is shortThe European Central Bank is eyeing energy prices and fallout from the Israel-Hamas conflict, President Christine Lagarde told euro-area finance ministers, according to people familiar with the matter cited by Bloomberg.WTI crude oil is down...
Cable climbs to the highs of the day as we wait for Middle East news
Cable is back above 1.2200 and has recouped all of Friday's decline. It's up 66 pips to 1.2205 and at the highs of the day.Risks from the Middle East certainly aren't hurting equities with the S&P 500 up 1.2% but the US dollar is softening and Treasury yields are...
NZDUSD rebounds after sharp fall last week, but buyers have work to do for control.
Last week, the NZDUSD reached a peak just below its 100-day MA, currently at 0.60546. Subsequently, the pair experienced a decline on Wednesday, Thursday, and Friday, leading to a low point within a swing area ranging from 0.58796 to 0.58945 (see lower yellow area on...
CNN Manu: Jim Jordan says will force a vote on the floor tomorrow with or without votes
CNNs Manu is reporting that:Jim Jordan said he will go to the House floor and force a vote tomorrow at noon even if he doesn't have the 217 votes initiallyHe added that tomorrow the House will elect a speaker.Previously he had said that he would go to the floor once...
Euro Forecast: EUR/USD Perks Up After Selloff but Geopolitics Create Risks. How?
EUR/USD ANALYSISEUR/USD rebounds after weakness late last week, but geopolitical tensions remain a concern for riskier currenciesA ground invasion of the Gaza Strip by Israel may have negative implications for the euro, as it has the potential to intensify tensions in...
AUDUSD makes a new high & moves above swing area in the process. Looks toward retracement
The AUDUSD is displaying a notable upward push, marking fresh highs and surpassing a crucial swing zone situated between 0.63269 and 0.6334. This breakthrough has shifted traders' focus towards the 38.2% retracement level from last week's high, positioned at 0.63467....
European equity close: Solid start to the 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,...
EURUSD buyers push price to the 200 hour MA/swing area target.
EURUSD moves up to test the 200 hour MA and traders lean.The EURUSD started the US trading day on a positive note and has continued its upward momentum, reaching a new session high. In the morning video, I identified the next potential upside target as the 200-hour...
BOC business outlook survey indicator -3.51% vs -2.31% prior
Overall survey indicator at the lowest since Q2 202053% of firms expect inflation over 3% for the next two years, down from 64% in Q227% of firms think it will take longer than three years to return to BOC's 2% inflation target, down from 32% in Q2Future sales...
Feds Harker: Current interest rate environment draining housing market of new buyers
Fed's HarkerFed's Harker, president of the Philadelphia Fed, in a speech to the Mortgage Bankers Association said:Current interest rate environment draining housing market of new buyersReiterates US central bank very likely done with rate hikesAcknowledges the impact...
US to ease sanctions on Venezuelan oil – report
The Washington Post reports that the US will announced eased sanctions on Venezuelan oil tomorrow.This one has been rumored for awhile with the deal centering around fair elections for an ease on some sanctions. Oil has faded on the report though.The sanctions relief...
Feds Harker is expected to speak at 10:30 AM ET.
Fed's Harker is scheduled to speak at 10:30 AM ET on the economic outlook. He will kick off a host of opportunities to hear different fed speakers between now and the end of the week. Below is the schedule:The calendar of the Fed speakers this weekThe calendar leads...
USDCAD falls toward key MAs on 4-hour chart
The USDCAD has moved modestly lower to start the trading week, and in the process is testing a swing area on the 4-hour chart between 1.3600 and 1.36125. Also, on the way on the downside is the rising 100-hour moving average at 1.3597, and its 200-bar moving average...
Putin and Xi are set to meet on Wednesday
Political leaders only meet at the highest levels when deals have already been agreed on by deputies. The reporting on this one says that no oil and gas deals are to be signed, so you wonder if something else is in the works.The last time they met, Putin launched the...
Fake report? Bitcoin gives it all back
A couple things make me suspicious of this report.1) It would be odd that they would just approve the Blackrock iShares ETF. The thinking is that they would approve a bunch at the same time, like they did with the ether future ETF.2) A Fox reporter now says she's...
The major US indices are opening higher to start the new trading week
The major US stock indices are opening with gains on the day to start the trading week. Last week the Dow industrial average and S&P index both moved higher by 0.45 and 0.79% respectively. The date NASDAQ index fell -0.18%. A snapshot of the market currently...