The EURGBP has seen price action move lower in the Asian and early European session but has seen a rebound in the early New York session. The price of the pair has returned back into its 200-hour moving average of 0.86607 and for the 2nd time today found resistance...
T+2 judgement day is today
There is suddenly a big bid in bonds and stocks.All eyes are on the calendar right now and I think that's a hint about what's going on. In a T+2 world, the securities purchased today will settle on Monday, which in the new quarter.It may be that fund managers didn't...
European equity close: STOXX 600 breaks the summer lows then reverses high
Closing changes:Stoxx 600 +0.3%German DAX +0.6%Francis CAC +0.6%UK's FTSE 100 +0.1%Spain's IBEX +1.0%Italy's FTSE MIB +0.5%It looked like it could get ugly for the STOXX 600 earlier today but it bounced back after touching the lowest since March.STOXX 600...
US stocks bounce back. Is the quarter-end rout over?
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 extending higher and looks toward its 100 hour moving average
The EURUSD is moving to a new session high and in the process is extending toward its falling 100 hour moving average (SEE blue line on the chart below) at 1.05783. The 38.2% retracement is just above that level at 1.05823. If the buyers are to take more control...
China-US relations beginning to thaw?
Some headlines from the WSJ:U.S., China discussing Washington visit by top Chinese economic official, sources sayVice Premier He Lifeng would be most senior Chinese official to visit under Biden Plans also under way for visit by Chinese Foreign Minister Wang Yi,...
KC Fed manufacturing index -8 vs -2 prior
> KC Fed manufacturing index -8 vs -2 prior KC Fed manufacturing data <!--> Adam Button Thursday, 28/09/2023 | 14:59 GMT-0 28/09/2023 | 14:59 GMT-0 --> Prior was -2Production -13New orders -14Prices paid +2Selected comments:“Inflation (cost of inputs -...
Ethereum climbs 3% on talk of ETF launches
Ethereum is at the highs of the day, up 3.1% to $1644.The catalyst is chatter that the SEC is trying to accelerate the launch of futures-based ETFs before the anticipated government shutdown on Monday. If a shutdown occurs, just 8% of SEC staff will stay on the job.A...
AUDUSD failed on a break outside of “Red Box” to the downside. Sellers forced to cover.
The AUDUSD broke lower yesterday, and in the process fell below the floor area near the 0.63567 – 0.6364 area. That floor area was the low of what has been a up-and-down consolidation area (see "red box" on the chart below). The upper extreme was up toward the 0.65214...
EIA weekly US natural gas storage bcf+90 bcf vs +88 bcf expected
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,...
Radix Babylon Upgrade Marks New Era for Web3 User and Developer Experience
Decentralized ledger platform Radix Publishing has celebrated the successful completion of its long-anticipated Babylon mainnet upgrade. The Babylon upgrade represents the end of the Olympia era and has been hailed by Radix as a game-changing moment for Web3 and the...
US pending home sales for August -7.1% versus -0.8% expected
US pending home salesPrior month 0.9% revised to +0.5%Pending home sales -7.1% versus -0.8% estimate.Pending home sales index for August 71.8 versus revised 77.3 (was 77.6). Looking at the chart above that takes the index to the lowest level since the pandemic (which...
Major indices trading mixed in early US trading
As the bell rings and your stock trading gets underway on the major exchanges, the major indices are trading mixed. With 6 minutes now gone since the opening bell The Dow industrial average is trading up 16 points or 0.05% at 33565.85S&P index is trading down...
More Goolsbee:If the Fed sees lack of progress on the price side, it will have to tighten
More from Fed's Goolsbee is on the wires saying:If Fed sees lack of progress on the price side, it will have to raise restraint.Trying not to put much weight on conventional measures of overheatingHave not decided what to do at the next meetingRecent inflation was...
US futures are implying a modestly lower open
US futures are implying a modestly lower open after closing mixed yesterday:Dow industrial average futures are implying a -25.27 point decline after falling -68.61 points yesterdayS&P index futures are implying a -7.51 point decline after rising 0.98 points...
Kickstart your FX trading on September 28 w/ a technical look at EURUSD, USDJPY and GBPUSD
To kickstart your trading day in the Forex on September 27, 2023, I take a look at the EURUSD, USDJPY, and GBPUSD from a technical perspective:EURUSD: The EURUSD yesterday and today tested the low swing area (between 1.04846 and 1.05335) and found willing buyers each...
Feds Goolsbee: Fed will return inflation to target, and can do it without a recession
Chicago Fed Pres. Richard Goolsbee is speaking and says:Holding to 'inevitability’ that job losses are needed to slow inflation risks a 'near-term policy error.’Some analysis shows inflation reaching target soon, 'without further policy tightening’ and only a modest...
The long-end disconnect helps to explain why the Fed is struggling to control inflation
Fed funds vs 10y yieldsThis is a chart the Federal Reserve and market participants are thinking about right now.In the past, 10-year rates roughly matched Fed funds but this time there's a 120 basis point gap. What that means is that hiking to 5.25-5.50% isn't as...
XAU/USD Price Forecast: Where’s the Bottom for Gold?
GOLD OUTLOOK & ANALYSISHawkish Fed speak and resilient US jobs market keep gold upside limited.Fed speakers in focus later today.Threatening signs as triangle breakout coupled & death cross develops. Recommended by Warren Venketas Get Your Free Gold Forecast...
US initial jobless claims 204K vs 214K estimate
Initial jobless claims and continuing claims for current wkPrior week jobless claims 201K revised to 202KInitial jobless claims 204K vs 214K est.4-week moving average initial jobless claims 217.25K vs 217.0K last week.Continuing claims 1.670M vs 1.675M estimate. Prior...