US DOLLAR FORECAST – USD/CAD. AUD/USDThe U.S. dollar has rebounded recently, as traders have scaled back overly dovish interest-rate cut expectationsCurrent market dynamics may have room to consolidate in the near termThis article focuses on the technical outlook for...
EURUSD waffles up and down after retest of the 200 day MA
The EURUSD yesterday moved down to test its 200-day moving average at 1.0846. The low price reached 1.0842 before bouncing to the upside. The subsequent move to the upside yesterday and into the Asian session today sniffed its falling 100 hour moving average currently...
Bostic: Open to cutting rates before July if convincing evidence of slower inflation
Fed's BosticOpen to starting rate cut before July if there is convincing evidence inflation is is long faster than he anticipatesRepeat baseline is for rate reductions starting in Q3, with care needed not to cut Toussaint and risk renewed demand and price...
Atlanta Fed Pres. Bostic schedule to speak shortly
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 markets close with gains on the day
Major European stock indices are ending the day with gains snapping 2-day declinesGerman DAX rose 0.83%France CAC rose 1.13%UK FTSE 100 rose 0.17%Spain's Ibex rose 0.13%Italy's FTSE MIB rose 0.83%As European truth head for the exits, US stock indices remain mixed with...
Atlanta Fed GDPNow growth for Q4 growth 2.4%
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,...
The AUDUSD is waging a battle between support and resistance targets. What next?
The AUDUSD trended lower this week, but did find support buyers yesterday, against a swing level against 0.65229. Below that level is the rising 100-day moving average at 0.65101. The subsequent rally today so the boys move up and retest the broken 50% midpoint of the...
USDCHF retracement support boosts buyer confidence
The USDCHF trended higher this week, and yesterday extended above the 200 bar moving average on the 4-hour chart, and the 38.2% retracement of the move down from the early November high to the December low. However, after peaking at 0.8685, the price started to...
US stock indices trading mixed at the open for the trading day
The major US stock indices are mixed in early US trading. A snapshot of the market currently shows:Dow Industrial Average -83.40 points or -0.22% at 37185.50S&P index up 20.63 points or 0.45% at 4760.50NASDAQ index is leading the way with a gain of 155 points or...
The USDCAD bounces off support at the 200 day MA today keeping the buyers in control
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 for Jan 18 w/ a technical look at the EURUSD, USDJPY and GBPUSD
US initial and continuing jobless goods demand stronger than expected. The result corresponded with the survey week for the BLS is jobs report to be released in early February. The data helped reverse the US dollars fortunes. The early move was to the downside as...
Philly Fed January business index -10.6 vs -7.0 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,...
US November housing starts 1.460m vs 1.426m 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,...
US initial jobless claims 187K vs 207K estimate
Initial and continueing jobless claimsPrior 202K revised to 203KInitial jobless claims 187K vs 207K estimate. Lowest since September 24, 2022. 4-week moving average 203.25K vs 208.00K last week. (revised from 207.75K last week)Continuing claims 1.806M vs 1.845M...
ForexLive European FX news wrap: Dollar mixed in slower trading session
Headlines:Markets:AUD leads, CHF lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields down 1.4 bps to 4.090%Gold up 0.4% to $2,014.49WTI crude up 0.1% to $72.63Bitcoin down 0.6% to $42,366It was a slower session overall as markets are...
ECB accounts affirm importance of restating data-dependent approach in communication
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 futures pull higher as tech leads the way
The more bullish upgrade by BofA on Apple shares is the only relevant headline that I can allude to in helping to push US futures higher in the past hour. S&P 500 futures are now up 0.3% with Nasdaq futures up 0.7%, while Dow futures are flat. So, that sort of...
AUD/USD off six-week lows but finds itself in a technical box
A rebound in Chinese stocks and a slight softness in the dollar is helping to keep AUD/USD higher so far today, even with a rather poor Australian jobs report earlier here. The currency pair is up 0.3% to 0.6565, also assisted by a technical bounce off its December...
A more tentative mood so far in trading today
The dollar is trading a little mixed but not much changed overall, after being slightly lower earlier in the day. EUR/USD moved up to 1.0905 before keeping flattish around 1.0888 now while USD/JPY fell to a low of 147.65 before recovering to 147.91 at the moment. In...
China amends rules for its central bank monetary policy committee
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,...