New Zealand data kicks off the data agenda but its China that eyes will be on. China's 2023 economic growth data is expected to show a full year result of 5.2%, which is pretty much spot on the government's 'around 5%' target. Which will surprise absolutely no one....
Trade ideas thread – Wednesday, 17 January, insightful charts, technical analysis, ideas
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,...
Heading into the new trading day, the GBPUSD is trying to hold above a key floor.
The GBPUSD is back down testing the low for the day in what has been a big move lower for the pair today. The price of the GBPUSD is down -0.77% currently. In the move lower today, the price finally broke away from an up and down area and away from the 100 and 200...
Bitcoin rebounds but ETF volumes paint a murky picture
Here are the trading volumes on IBIT, which is Blackrock's bitcoin ETF and is destined to be the winner of the low-cost spot race:Day 1 - 38m sharesDay 2 - 23m sharesDay 3 - 13.65m shares with 35 mins of trading to goThe moderate volatility in bitcoin today might be...
Crude oil futures settle at $72.40
Crude futures are settling the day at $72.40. That is down $0.28 or -0.39%. The low price reached $71.74. The high price reached $73.53.The price action today was up-and-down, trading above and below its 100 and 200-hour moving average is in the process. The 200-hour...
Goldman Sachs: What we expect from tomorrow’s US retail sales print?
US retail sales control groupGoldman Sachs offers insights into their expectations for tomorrow's US retail sales report, forecasting a 0.3% increase in core retail sales in December, slightly ahead of the consensus estimate of 0.2%. Their analysis takes into account...
The NZDUSD falls below the 38.2% retracement giving sellers more 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,...
The China vortex is sucking in the Australian dollar
It's bad in China.The Hong Kong Hang Seng is down 7% already this year in nearly non-stop selling, including a 2.2% decline today as the December lows gave way.Hang Seng dailyIt's a similar story with mainland indexes and US-listed China ETFs. KWEB is down 10% YTD.And...
EIA sees shale production down about 900 bpd in February
The single biggest question for the oil market in 2024 is whether US producers will stop pumping more. Early returns are somewhat encouraging for the bulls with the EIA estimating shale production down 900 bps in February after a 600 bpd drop in January.Those are...
The lack of progress on core inflation will give the BOC pause — CIBC
Today's CPI report showed a dip in headline inflation to 3.1% from 3.4% but the Bank of Canada might be troubled by the lack of progress on core CPI."What wasn't expected was the lack of progress in the Bank of Canada's preferred core measures of inflation, CPI-trim...
ECBs Muller: Markets expectations for 2024 are aggressive
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,...
ECBs Simkus: I am far less optimistic than market on rate cuts
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 sellers in control. Below a key swing area between 1.0878 and 1.0894
The EURUSD moved below a swing area between 1.08788 and 1.0894. The 61.8% of the move up from the December low is also in that area and all of it now sets that area a risk and bias defining area. Stay below 1.0894 is more bearish in the short term at least. Move above...
USDJPY moves to new session highs and in doing so, moves closer to a key technical target
The USDJPY is moving to a new session high in the process is testing a target at 147.147 and also getting closer to a key technical target on the top side. A technical level is defined by the 100-day moving average and the 61.8% retracement of the move down from the...
Waller Q&A: It will be up to committee on timing of when to start cuts
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,...
Fed’s Waller: Data in the last few months allowing Fed to consider cutting rates this year
The event was moved to virtual-only due to snow in Washington.Changes in policy path must be 'carefully calibrated' and 'not rushed'I am more confident that we are within striking distance of achieving sustainable 2% inflationWe are close but I will need more info in...
Watch live: Fed’s Waller speaks virtually at Brookings
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,...
USDCAD trades above and below its 200 day moving out at 1.34806.
The USDCAD has moved higher this weekend in the process extending above its 200 bar moving average on the 4-hour chart at 1.34187, and then the 38.2% retracement of the move down from the November 2023 high. The price also broke above its 200-day moving out at 1.34806...
US stocks turn into positive territory, Treasury yields dip
Impressive bids have emerged in stocks and the front-end of the Treasury curve.I wrote earlier who dovish comments from Waller could turn around the market but buyers haven't even waited for the headlines. Waller is set to speak at the top of the hour.US 2-year yields...
ECB’s Centeno: We should avoid undershooting on inflation
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,...