None of the data releases below should trigger much movement in forex rates 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 are the 'prior' (previous...
Trade ideas thread – Thursday, 5 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,...
Xsolla Powers Web Shop Launches For 40 Of The Top 100 Mobile Games
Xsolla, a global video game commerce company, shares insights that 40 of the top 100 mobile games have launched their Web Shop using Xsolla's solution. These insights offer a glimpse into the increasing trend of multiplatform operations in the mobile gaming industry...
US equities race higher as yields and oil cool
Nasdaq Comp dailyThe stock market is feeling some relief from high rates today.US 30-year yields hit a 15-year high today at 5.00% but have since backed all the way off to 4.86%. That's been coupled with falls across the curve with US 2-year rates down 10 bps to...
What is driving the AUDUSD in trading today?
The AUDUSD tested the low from yesterday at 0.62849. The low came up a pip short of that low and bounced.The high for the day was able to extend above the low from last week at 0.6331 on two separate 4-hour bars. However, momentum could not be sustained above the...
This era of easy government spending is likely over and markets aren’t prepared
Once in awhile politics has a way of underscoring longer-term trends in markets. Yesterday's ouster of House speaker Kevin McCarthy highlights a tilting in power towards fiscal hawks in Washington, which isn't a surprise after years of overspending.It came just hours...
Citigroup highlights slower US credit card spending
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,...
NZDUSD sellers had their shot,but 100/200 bar MAs on 4-hour resistance remain a key target
The RBNZ kept rates overnight. On the decision, the price of the NZDUSD moved lower and below a lower swing area between 0.5879 and 0.58945. The low price reached 0.58695 before bouncing higher. Subsequent lows held support against the low of the swing area at 0.5879...
Oil routed in a $5 fall
It was a slow ride up the escalator for oil but it's turned into a quick fall back down the elevator.WTI crude oil is down $4.87 to $84.36 which is a quick change in fortunes after touching $95 last week. The fall through $85 ran stops at the psychological level which...
NASDAQ index ticks back above its 50 hour moving average/swing area/38.2% retracement
The Nasdaq is higher today, and trading near new highs. In the process, the index is extending above a cluster of resistance.The price is back above the 38.2% of the move up from the March 13 low at 13123The price is back above the 50 hour MA at 13166The price is back...
USDJPY stays within the technical range. What next?
The USDJPY has settled in between some technical levels which is controlling the ups and downs. On the top side, the 200 hour moving average at 149.157 is providing close resistance. Above that the high for the day at 149.315 corresponds with swing lows from last...
European equity close: Some back-and-forth before a flat close
Closing changes for the main European equity markets:Stoxx 600 -0.1%German DAX +0.1%French CAC flatUK's FTSE 100 -0.8%Spain's IBEX -0.6%Italy's FTSE MIB -0.2%European stocks earlier today touched the lowest since March but bounced back to flatSTOXX 600 dailyMoneyMaker...
WTI crude falls below $86
Saudi Arabia today reiterated today that it would keep its voluntary output cut in place through year end and OPEC's monitoring committee said it wouldn't recommend any policy changes. Those are headlines that should be bullish but oil is falling anyway, and in...
EIA weekly US oil inventories -2224K vs -446K expected
Prior was -2170KGasoline +6481K vs +161K expectedDistillates -1269K vs -333K expectedRefinery utilization -2.2% vs -0.4% expectedThis helps to explain the breakdown in gasoline cracks.API data late yesterday showed API inventories:Crude -4.21M Cushing +0.705K Gasoline...
EURUSD tests a key support target for buyers and sellers.In this video I will explain why
> Technical Analysis > EURUSD tests a key support target for buyers and sellers.In this video I will explain why Technical Analysis The EURUSD has key support at 1.0483 <!--> --> <!--> --> ADVERTISEMENT - CONTINUE READING BELOW <!--> Tags...
US factory orders for August 1.2% versus 0.2% expected
Factory orders has a sawtooth pattern over the last 3 monthsPrior month -2.1%Factory orders 1.2% versus 0.2% expectedFactory orders ex-transportation for August 1 .4% versus 0.9% last month (revised from 0.8%)Durable goods order revised 0.1% versus 0.2% preliminary...
US September ISM services 53.6 vs 53.6 expected
September 2023 US services survey from the Institute for Supply Management <!--> Adam Button Wednesday, 04/10/2023 | 14:00 GMT-0 04/10/2023 | 14:00 GMT-0 --> <!--> ISM services indexDetails:employment index 53.4 versus 54.7 priornew orders index 51.8...
USDCAD trades to a new session high as crude oil comes under pressure
The USDCAD is trading to a new session high. Lower crude oil prices today are helping to weaken the CAD in what is more of a USD lower day today. The price is training to the highest level since March 24. Technically, the price is moving away from a high of a swing...
US September S&P Global final services PMI 50.1 vs 50.2 prelim
Prior was 50.5Composite index 50.2 vs 50.1 prelimCompanies depleted their backlogs of work at the fastest pace since November 2022 in order to sustain current business activity levelsNew orders rate of contraction quickened to the sharpest since December 2022Three...
A higher open for US stocks as yields give some relief
The major US stock indices are opening higher as yields provide some relief. The ADP jobs report was weaker than expectations. The BLS jobs report will be released on Friday with expectations of 170K versus 187K last month. The unemployment rate, however, is expected...