EURUSD reaches the high of swing area targetThe EURUSD has moved down to a new low and in the process has reached the high of a swing area between 1.0483 and 1.0500. The low price has reached 1.0496 so far.The swing area is home to a number of different swing lows...
S&P and NASDAQ trade in negative territory
The broader stock indices are trading lower. The S&P index is now down -0.19% while the NASDAQ index is down -0.68%. The Dow industrial average is holding onto a modest 0.16% rise.With the clock ticking toward the close of the trading week, the major indices are...
UAW Fain: Not announcing any new expansion of strikes today.
UAW President Shawn Fain is saying:The UAW is not announcing any new expansion strikes today. However, he warns that they are ready to strike at any time.We are going for a deal soonGoing forward, the union will be striking plants with little noticeShares of Ford are...
USDCAD moves lower after BOC Macklem’s comments
USDCAD falls below its 200 hour moving averageThe USDCAD has moved lower after BOC Macklem's more hawkish comments. Technically the price moved below its 200-hour moving average at 1.3662. And now approaches the 38.2% retracement of the move up from the September 19...
Weekly Market Recap (09-13 October)
Monday:Over the weekend Hamas launched a massive attack against Israel from Gaza which led to Israel to declare war against Hamas and invoking Article 40 Aleph for the first time since October 1973. The first reaction in the markets at the open was of risk aversion...
Is Gold a good sell after the run higher today? In this video, I break that idea down.
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,...
BOC’s Macklem: We are not expecting a recession
BoC's MacklemHigher long-term bond yields are not a substitute for down what needs to be done to get inflation back down to targetMacklem is more-hawkish than the Fed with this comment. BOC will be releasing economic projections on October 25 and he said "we're not...
US October prelim UMich consumer sentiment 63.0 vs 67.2 expected
Prior was 68.1Current conditions 66.7 vs 70.4 expected (71.4 prior)Expectations 60.7 vs 65.5 expected (66.0 prior)1-year inflation 3.8% vs 3.2% prior5-10 year 3.0% vs 2.8% priorI don't like this survey and this rise is likely due to higher gasoline prices (before the...
Harker: Banks tell Fed there is almost no activity for first-time home buyers
Seeing some increase in consumer credit trouble but not a major concern yetPrefers core inflation measures to headlineCommercial real estate risks are a concern, cites downtown office spaceA 30-year fixed mortgage is running at about 7.7% right now, so it's no...
It was a story about stock markets that popularized the unluckiness of Friday the 13th
Today we associate Friday the 13th with horror movies and unluckiness but its history goes back much further. In Europe, 13 was long considered an unlucky number and Friday an unlucky day, so the combination of the two was natural.However the myth of Friday the 13th...
TON Foundation Enlists The Support Of Elliptic To Provide Ecosystem Analysis And Security
The Open Network (TON) Foundation has today announced the support of Elliptic, a leading blockchain analysis firm, to provide the network with data intelligence and additional ecosystem security, supporting TON Foundation with its goal of putting crypto in every...
Major US indices are higher by different degrees. Dow Industrial Average leads the way
The days off and running, and the major indices are all trading higher in early. The gains are being led by the Dow 30 stocks. All the major indices or higher on the week.A snapshot the market currently shows:Dow industrial average is up 270.02 points or 0.80% at...
Memecoin Project $Garbage Aims to Launch A $100,000 Giveaway
$Garbage, the world's first garbage-themed meme coin, is taking the crypto world by storm. With a unique storyline backed by a mutual distaste for the current course of modern affairs, The company hopes that $Garbage will quickly become one of the most popular and...
Gold seasonality trends: best months for investing
Like the blossom in spring and the harvest at the end of summer, gold shows recurring seasonal patterns or seasonality trends in its market performance. Let's look at how seasonality and cyclicality affect gold prices.Gold's upcoming seasonal phase is positiveA...
Do you wonder what technical traders look to do? Watch this video on the USDCHF
Have you ever wondered what technical traders look to do? If you are even mildly interested in that challenge, then watch this video on the USDCHF. It'll take less than 3 minutes of your time. It is not hard, but it will make you a better trader. Like and share...
ECB’s Lagarde: We will return inflation to 2%, it is happening
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,...
Kickstart your FX trading on October 13 with a technical look at EURUSD, USDJPY and GBPUSD
Kickstart your forex trading on October 13 with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD.EURUSD: The EURUSD is trading up and down today with the highs stalling against a swing area between 1.0551 and 1.0557. Ahead of that is the...
Harker: Fed is likely to be done with rate hikes
Fed's HarkerHarker recently shifted to a calling for the Fed to hold so this isn't new, though he wasn't this explicit previously.Supports higher-for-longer interest rate stanceCan't say for low long rates will need to remain highSees steadily disinflation, falling...
Impressive reboung for gold as it braces for an uncertain weekend
There are three elements to this week's gold rally:1) A bounce from technical support in the low $1800s. In March, gold also bounced here, as the chart illustrates.gold chart2) US dollar weakness and worries about US debtThis week's terrible slate of Treasury auctions...
US September import prices +0.1% vs +0.5% expected
Prior was +0.5% (revised to +0.6%)Export prices +0.7% vs +0.5% expectedPrior was +1.3% *(revised to +1.1%)Year over year:Import prices -1.7% vs -3.0% priorExport prices -4.1% vs -5.5% priorThe PPI and CPI reports were both hot this week, pushing yields higher. This is...