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,...
GBPUSD trades to a new session low and looks to test the 38.2% retracement
The GBPUSD is trading to a new session low as the clock ticks toward the end of day. in the process, the price is ticking down toward the 38.2% retracement of the move up from the September 26, 2022 low. That retracement level comes in at 1.20763.After a trend move...
The US may be entering an era of higher yields but the rest of the world isn’t
It's almost too frightening to contemplate what might be happening in the bond market. If the latest move up in Treasury yields is really about debt, deficits and an oversupply of bonds then god help us because the pain of getting it all back into order will be...
NZDUSD is lower on day, but moves toward an equilibrium level defined by 100/200 bar MA
The NZDUSD is trading within a value area with a high value area between 0.5985 – 96 on the top side, and 0.5879 – 94 on the downside. Yes, there have been extensions to the upside and downside over the last 7 weeks of trading, but most of the price action is between...
US warned China that more semiconductor export curbs are coming – report
The Biden administration warned China that more computer chip-making export curbs are coming early this month. This would be an update around the one-year anniversary of the measures first unveiled on Oct 7, 2022.The report said China was given advance notice as 'part...
More from Barr: There seems to be the right kind of slowing in housing
Goods and housing services inflation is on the right path, downwardThe amount of credit tightening we are seeing is less than what I feared in MarchIt will be interesting to see what kind of housing slowdown and credit tightening we see when 10-year yields hit...
Atlanta Fed GDPNow 3Q growth estimate remains unchanged at 4.9%
Atlanta Fed GDP estimate for 3QThe Atlanta Fed GDPNow growth estimate for 3Q models 4.9%. That is unchanged from September 29. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 4.9...
Feds Barr: We are at a point where we can proceed carefully on monetary policy
Michael Barr nominate to Federal Reserve Board of GovernorsFOMC member Barr is on the wires saying:Fed is at a point where we can proceed carefully on monetary policy.Most important question is not whether an additional rate hike is needed this year.Most important...
Dow Industrial Average is leading the way to the downside. S&P now negative.
The Dow industrial average is now down -268 points or -0.80% at 33238.91. The S&P index is also negative by -26.54 points are -0.62% at 4261.76. The NASDAQ index after being up 1% is now trading up only 0.11% at 13234.Leading that declines are the utility sector...
GBPUSD pounds against the low from last week
GBPUSD pounds against the swing lows from last weekThe GBPUSD is pounding against the lows from last week at 1.21102. A few hours ago,, the price tested that level and bounced. After reaching a corrective high of 1.21455, the downside has resumed and the price is back...
AUDUSD falls toward swing area support on USD buying
The AUDUSD is following the US dollars a ride to the upside as yields move higher. The 10 year yield is now up 12 basis points out in 4.691%. It's getting closer and closer to 5%.Recall on Friday, the AUDUSD stall right near the near converged 100 and 200 bar moving...
Feds Harker: Fed is working on stable prices and maximum employment: Powell agrees.
Comments from the Fed's Harker and Powell are limited so far. The best I can do so far is Harker says:Fed is working on stable prices and maximum employmentFed Chair Powell weighs in saying: Fed's ambition is sustained strong labor marketTo get that price stability is...
Crypto market stalls as ethereum futures ETF debut flounders
There was some crypto hype late last week the spilled over into early trading today with some impressive gains. The driver was likely the launch of an ether futures-backed ETF launching today from VanEck under the symbol EFUT along with a handful of others.Let's just...
EURUSD moves to key swing area and finds dip buyers (again).
A key swing area in the EURUSD comes in between 1.0483 up to 1.0533. The price low today has reached 1.0491, just above the lows from last week at 1.0487 and the low of the swing area. The price has bounced marginally higher. What next? This video outlines the...
NASDAQ index is now up over 1%
The NASDAQ index is ignoring the sharp rise in yields today. The 10 year yield is now up 10 basis points at 4.672%. The two-year is up 6.4 basis points at 5.110%.NASDAQ index is up 1%For the NASDAQ index it's now up over 1%. The index is trading at 13358.59. That's up...
European equity close: Declines in the 1% range
US equities are looking better at the moment but it's a rough look for Europe to start the new month:Closing changes:Stoxx 600 -1.0%German DAX -1.0%Francis CAC -1.1%UK's FTSE 100 -1.3%Spain's IBEX -1.2%Italy's FTSE MIB -1.5%Last week, it looked like the DAX was making...
Roundtable LIVE. Want to watch the roundtable with Harker/Powell?
> Central Banks > Roundtable LIVE. Want to watch the roundtable with Harker/Powell? Central Banks Fed Chair Powell and Philadelphia Fed President Patrick Harker participate in a community roundtable with workers, small business owners, local employers, and...
BOE’s Mann: I see more resilient domestic demand in the UK 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,...
Fed’s Harker and Powell are speaking on a roundtable. There are no pre-release comments.
Be aware,Feds Powell and Richmond Fed Pres. Harker are due to participate in a roundtable discussion with workers, small business owners, and community leaders in York Pennsylvania. There is no pre-released comments it seems.Of course, a roundtable discussion tends to...
USDCHF makes a break for it. Trades back above 100H MA tilting bias back to the upside.
The USDCHF is pushing higher in early US trading and in the process has moved back above its 100-hour moving average at 0.91609. Higher yields with the 10 year yield up over 8 basis points, is helping the bullish bias. The high price from last week reached 0.92247...