The price of crude oil futures are settling at $77.37. That's down $3.45 or -4.27%. The decline is the largest sense October 4 when the price fell -5.57%.The price fell below its 200-day moving average is $78.14 and traded to the lowest level since July 24. The price...
ECB’s Nagel: Wage growth and decreasing labor supply will keep up pressure 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,...
Yields finally weigh on the US dollar
I have been waiting for signs to evaluate whether real money was going to FOMO into bonds and early returns suggest the appetite is there.Yields retraced on Monday after last week's big fall but they're lower again today, led by a 12 bps fall at the long end. US 10s...
Is the United States headed for a debt crisis?
If Hollywood decided to make a movie based on one of Aesop's fables, "The Boy Who Cried Wolf," it could easily cast Jerome Powell in the lead role.Once again, the markets overlooked the Fed Chairman's remarks about the possibility of raising interest rates, instead...
Broker Complaint Alert (BCA) Marks 3 Years of Successful Crypto Scam Recovery
“Just like there’s a possibility and time for loss, there’s always time for recovery” - Jenny Brown, head of the Recovery Technical Team at BCA.Broker Complaint Alert (BCA) Celebrates 3 Remarkable Years of Helping Victims of Crypto Scams Recover Their Lost...
Fed’s Bowman: I continue to expect we will need to raise Fed funds further
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 Logan: All of us have been surprised by resilience of US economy
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,...
Bitcoin moves back above the $35,000 level and makes a break above trendline resistance
The price bitcoin is breaking above a topside trendline on the hourly chart (see red numbered circles),and is testing the high price from November 5 at $35,330. The high price just reached $35,337. Move above that level and opens the door for further upside momentum....
US treasury auctions offer $48 billion of 3-year notes at a high yield of 4.701%.
High Yield: 4.701%. Previous rate was 4.74%, with a six-auction average of 4.372%.Tail: -0.1 basis points. Previous 1.7 basis points (bps), with a six-auction average of -0.3 bps.Bid-to-Cover: 2.67X. Previous 2.56X, with a six-auction average of 2.79X.Directs (a...
Crude all trades to a new low as it breaks $78. Lowest level since July
Crude oil is breaking to a new session low. The price just traded to $77.53. That's down $3.29 on the day.In the process, the prices were falling below its 200-day moving average near $78.14 (see green line in the chart below). The price is trading at the lowest level...
U.S. Treasury to auction off $48 billion of the 3 year notes at the top of the hour
The U.S. Treasury will auction off $48 billion a 3 or notes at the top of the hour. The WI is currently trading near 4.70%.High Yield: Previous rate was 4.74%, with a six-auction average of 4.372%.Tail: Previous 1.7 basis points (bps), with a six-auction average of...
GBPUSD retests its 100 hour MA. Key level for all traders. Here’s why..
The GBPUSD is back near session lows, and in the process is testing a key technical barometer at its 100 hour moving average. The moving average currently comes in at 1.22719.Also in play is a swing area between 1.2261 and 1.22758 (see red numbered circles on the...
USDCAD rebounds higher and retraces 50% of the move down from last week’s high. What next?
The USDCAD raced lower last week and continued that fall yesterday to a low of 1.36284. However, the move lower stalled, and the price moved back above a swing area between 1.3659 and 1.3668 (and held support on a dip). Sellers turn the buyers and that momentum has...
European equity close: Trailing US markets again
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,...
Bitcoin (BTC/USD) Forecast: Open Interest Surge to Ignite a Fresh Bout of Volatility?
BITCOIN, CRYPTO KEY POINTS:Bitcoin Remains Rangebound as Open Interest Suggests Volatility May be on its Way.Whales Continue to Accumulate Bitcoin at an Impressive Rate as the $30k Mark is Seen as Key.Technicals are Starting to Point Toward a Retracement but a Weaker...
Atlanta Fed GDPNow Q4 GDP estiamte +2.1% vs 1.2% prior
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,...
NASDAQ index moved back above its 100 day moving average. Can it stay above?
As Adam points out, the NASDAQ index is on pace for its 8 consecutive day to the upside. Today, the index is up nearly 1% and traits currently at 13648.41.NASDAQ index moves above its 100 day moving average.Technically, the recent upward momentum has pushed the price...
Nasdaq streches gain to 0.8% and is on track for eighth straight increase
Nasdaq daily chartYesterday, even as Treasury yields rose, US stocks held a bid. In hindsight that was a tell as today a fall in yields and oil has inspired fresh bids in stocks, led by mega-cap tech.The Nasdaq Composite is up 0.8% and at the best levels since October...
EURUSD bounces off the 38.2% retracement & 100H MA support for 2nd time. Were you there?
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: The labor market is getting close to average from before the pandemic
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,...