The GBPUSD buyers had their shot to make a move today. After bouncing off a key support level at 1.2938, the price surged higher, breaking above the 100 hour MA, 100 day MA, and 200 hour MA.However, despite achieving this technical breakthrough, the buyers failed to...
Crude oil futures settle at $67.38
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BOC’s Macklem: Productivity is key to raising Canada’s living standards
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Four history lessons from US elections from Deutsche Bank
Deutsche Bank is out with a piece examining historical lessons for markets ahead of the November 5 US election. The first takeaway is that markets may not react as dramatically to a Trump victory as they did in 2016, since it wouldn't be the same kind of surprise -...
US treasury auctions off $70 billion of 5-year notes at a high yield of 4.138%
High yield 4.138 WI yield st the time of the auction 4.122Tail 1.6 basis point 6-auction avg. 0.5bpsBid-to-Cover 2.39X vs 6-auction avg. 2.37xDealers 14.2% vs 6-auction avg. 14.4%Directs (a measure of domestic demand) 9.50% vs. 6-auction avg. 17.6%Indirects (a measure...
AUDUSD sellers are in firm control. Price moves down to test 61.8% of move up from August
The AUDUSD closed below its 200-day moving average on Friday at 0.6628. In trading today, the price remains below that 200-day moving average. Stay below that level, keeps the sellers more in control.In the Asian session today, the price initially moved lower reaching...
US treasury to auction off $70 billion of 5-year notes at top of the hour
The second coupon auction of the day will take place at 1 PM ET, when the US treasury auctions off $70 billion of five year notes. Earlier today, the treasury sold $69 billion of 2-year notes with a tail of 0.8 basis points. The bid to cover was less than the 6-month...
US 10-year yields near Goldman Sachs’ line in the sand
US 10 year yields, dailyLast week, Goldman Sachs warned that a rise in 10-year yields to 4.30% could create a negative feedback loop with stock markets.We're getting close as 10-year yields rise 5.6 bps today to 4.286%, which is the highest since late July. The latest...
USDCAD consolidates near highs. What next technically for the pair as the new week begins.
The USDCAD is consolidating after reaching new highs going back to August 5. In trading today, the high price extended to 1.39057. The low price extended to 1.38813. That's only a a narrow 24 – 25 trading range. That is well below the month-long trading range of 55...
Goldman Sachs: RBNZ could surprise with 75bps rate cut in November
Goldman Sachs anticipates potential for a more aggressive rate cut from the RBNZ in November, with a 75bps cut on the table, although this is unlikely to push AUD/NZD significantly higher. Despite a dovish outlook, the New Zealand dollar’s downside may be limited by...
US sells 2-year notes at 4.130% vs 4.122% WI
Prior was 3.520%This auction was earlier than usual today because the Treasury is also selling 5s at 1 pm ET. The glut of supply in a single day is much for the market to digest and in 15 of the past such instances, there have been 11 tails. We got the same today with...
Alphabet shares fall after on news Meta developed AI search engine to rival Google
Alphabet shares traded to a high today at $168.75 near the open. However, at session highs, the price was also testing its 100-day moving average at $168.79. Sellers leaned against that level and the price wandered lower. A news headline that Meta- reportedly has...
Jamie Dimon: The American economy is still booming
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Dallas Fed October manufacturing business index -3 vs -9 prior
Prior was -9.0Output (production) +14.6 vs -3.2 priorNew orders -3.7 vs -5.2 priorEmployment -5.1 vs +2.9 priorOutlook -3.3 vs -6.4 priorPrices paid for raw materials +16.3 vs +18.2 priorPrices received +7.4 vs +8.4 priorWages +23.5 vs +18.5 priorComments in the...
USDCHF sellers push against swing low floor from the end of last week
The USDCHF moved higher early in the Asian session and the momentum higher, moved the price above its 100 day moving average at 0.8687. Momentum could not be sustained, however, and the price started to rotate back to the downside.In the early US session that momentum...
Economist poll of the Bank of England shows cut next week but uncertainty on December
All 72 economists surveyed by Reuters expect the Bank of England to lower rates to 4.75% next week but what happens at the subsequent meeting on December 19 is far less certain.Of the 72, there are 46 who predict no change and 26 predict a cut. The majority expecting...
Tech sector leads gains, energy lags: A snapshot of today’s market dynamics
Stock heatmap by FinViz.com Mon, 28 Oct 2024 13:46:08 GMTSector OverviewThe technology sector shines today, with notable gains in both consumer electronics and semiconductors. Apple (AAPL) is up 1.23%, reflecting strong investor confidence. Nvidia (NVDA) also enjoys a...
Kickstart the FX trading day for Oct 28 w/a technical look at the EURUSD, USDJPY & GBPUSD
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US stocks set for a strong open, Nasdaq eyes record high
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It’s the best day of the year for stock markets
According to this wonderful matrix from Carson Investment Research, October 28 is the best day of the year for the S&P 500, historically.Now I don't put much weight in daily averages because they're highly influenced by unique events but Goldman Sachs also notes...