US stocks opened lower on the back of the Israel/Hamas bombing over the weekend. However, momentum faded and the indices started to reverse higher. Although the US bond market was closed, US bond futures did rally (lower yields), implying a decline in yields (flight...
BoE MPC member Mann says wage and price inflation are sticky downwards
Bank of England Monetary Policy Committee member Catherine Mann is giving a talk in Dallas on inflation dynamics.says wage and price inflation are sticky downwardsgoing forward the length of time inflation remains above target will be important given that inflation...
Economic calendar in Asia Tuesday, 10 October 2023
There is plenty on the data agenda, but its lower-tier data that is unlikely to move FX rates too much upon release. This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the right-most column...
Trade ideas thread – Tuesday, 10 October 2023
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 stretches to the 38.2% retracement.Can the buyers make another run above the level?
EURUSD stretches to 38.2% retracementThe EURUSD moved above its 38.2% retracement of the move down from the September 12 high on Friday following the snapback rally post the US jobs report. That level comes in at 1.05709.Today, the price gapped lower at the open after...
NZDUSD making a play outside “value area”
Technical Analysis NZDUSD breaks above 0.6000 increases bullish bias. Looks toward swing area high at 0.6032 followed by the falling 100 day moving average of 0.6062 <!--> --> <!--> --> ADVERTISEMENT - CONTINUE READING BELOW <!--> Tags -->...
Stock market update in 60 seconds, the highlights you need to know
Stock Market Update:Top Gainers:HUBC surged by an astounding 179.26% to close at $0.65, with a significant volume of 256.36M.PRZO followed with an impressive 106.03% gain, finishing at $2.39 on a volume of 150.57M.ACXP climbed 60.94% to $3.09, while SNMP and PEV saw...
Microsoft higher on the day but testing key 100 day MA level
Microsoft tests its 100 day moving averageMicrosoft shares are trading up $2.66 or 0.81% at $329.92. At that level, the share price is testing its 100-day moving average at $329.96. Getting above the 100 day moving average would increase the bullish bias for one of...
WTI crude oil settles at $86.38
The price of WTI crude oil is settling at $86.38 up $3.59 on the day.. The high price today reached $87.20The low price extended to $84.74At session lows, the price tested the swing high going back to August at $84.85. Although the price dipped briefly below that...
France central bank sees Q3 GDP growth of 0.1%
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,...
Hamas official open to a discussion of a truce with Israel
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,...
More from Fed’s Jefferson: Current policy is restrictive
More from Feds Jefferson:It could be the case that rise in the long-run treasury yields reflects anticipation for strong growthCurrent policy is restrictive.Finding the right stance of policy is my concern.As a policymaker unmindful cumulative effects of past rate...
Major US stock indices erase losses. Trading higher on the day.
The major stock indices have erased their losses and are now trading positive on the day. Comments from Fed Jefferson were somewhat encouraging with hopes that the Fed may keep policy on hold. The chance of a hike by the end of the year is down to 27% (from 45% on...
Feds Jefferson:We need to move carefully to balance risk of tightening too much/too little
Fed Gov. Philip JeffersonFed vice chair Jefferson (voting member) speaking and says:We need to move carefully to balance the risks of tightening too much or too littleMay be too soon to say confidently we have tightened enough.Mindful of lag effects of past rates as I...
GBPUSD is trading between technical levels with MAs on the downside and swing area above
The GBPUSD gapped lower today (higher USD) and moved lower into the European session. The low prices for the day tested a swing area 1.2159 and 1.2167. Support held in the London morning session and then early US session before moving higher.The subsequent run to the...
Israeli government says it decides to continue bombing Gaza, even if prisoners are killed
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 trades within a technical range with the 100H MA as support and swing area above
The EURUSD in the NY session, opened near its 100-hour MA (blue line in the chart below). Sellers could not push the price below that moving average, and sellers turned to buyers. The subsequent move higher worked its way toward a topside swing area between 1.0551 and...
European indices off to a negative start for the trading week
The major European indices are off to a negative start for the trading week. We can geopolitical risks sour the mood of stock buyers.A snapshot of the closing levels shows:German DAX, -0.67%France's CAC -0.55%UK's FTSE 100 -0.03%Spain's Ibex -0.92%Italy's FTSE MIB...
USDJPY falls sharply. Slices through 50% retracement at 148.73 (now resistance)
The USDJPY has fallen sharply over the last few hours of trading and in the process has broken below its 100-hour moving average at 148.957, and the 50% midpoint of the move up from the September 21 low at 148.734. If you recall, that 50% retracement level was...
Ex Fed Pres. Bullard: The story of US recession is not materializing
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,...