It's tough to assess in exactly is happening in Gaza because electricity and communications have been largely cut off but it appears as though Israel's ground offensive is underway. It came with an overwhelming number of airstrikes and reports of tanks entering in the...
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Forexlive Americas FX news wrap: Russell 2000 hits a three-year low, eyes on Gaza
Markets:Gold up $21 to $2006US 10-year yields down 1 bps to 4.83%WTI crude oil up $1.93 to $85.15S&P 500 down 0.5% or 20 points to 4117Nasdaq up 0.4%JPY leads, CHF lagsThe cross-currents were deep and violent on Friday. Let's break them down:1) The fog of warEarly...
US stock indices close mixed, but down for the week
The major US stock indices are closing the day with mixed results, but all are down for the week.A snapshot of the closing level shows:Dow industrial average -366.71 points or -1.12% at 32417.60S&P index -19.86 points or -0.48% at 4117.36NASDAQ index rose 47.4...
Key earnings releases scheduled for the week starting October 30
This week 4 of the "Magnificent 7" (Microsoft, Amazon, Alphabet and Meta reported) reported their earnings and their results really didn't matter. The markets were intent on moving to the downside spurred on by higher yields, concerns about global growth, concerns...
GBPUSD keeps a bearish bias with the 100/200 hour MAs stalling the rally (again)
The GBPUSD is trading up and down today, but the move to the upside today stalled near the 100/200 hour MAs near 1.2154 area. Recall, that area stalled the rally on Wednesday as well. The subsequent fall, in the US afternoon session, has taken the price back toward...
Reports suggest Israel ground incursion in Gaza; others suggest the US urges restraint
We're deep in the fog of war today. There are many reports that Israeli fighters have entered Gaza in the northeastern corner of the Gaza strip in Beit Hanoun. Throughout the Gaza strip, there are reports of heavy airstrikes, perhaps the heaviest yet. There are also...
WTI crude oil futures settle at $85.54
The WTI crude oil settles above the August high of $84.85The price of WTI crude futures is settling at $85.54, up $2.33 or 2.80%. That is above the August high of $84.85 tilting a bias more to the upside.Looking at the daily chart, the low prices this week stalled the...
EURUSD technicals with a negative bias. Price is below the 100/200 hour MA barometers.
The EURUSD buyers tried to tilt the technical bias to the upside today with a move above its 200-hour moving average at 1.0580 and it's 100-hour moving average 1.0589. The price also moved above the 50% midpoint of the move up from the October 13 low at 1.0594....
Gold and oil pop as Gaza ceasefire hopes fade
Gold is at the highs of the week in a quick $6 move higher to just below $2000. It's been largely a one-way trade since the Hamas attacks on October 7.Gold dailyOil is also at the highs of the day in a rise above $85, paring much of the weekly loss.The market has been...
Russell 2000 falls to the lowest since 2020
Weekly Russell 2000If you needed another reminder that it's been just tech -- and mostly seven stocks -- that have been carrying US equity markets, then here it is.The Russell 2000 just broke through the June 2022 low and is trading at the lowest levels since November...
Israeli military spokesman: Ground forces are expanding their operations tonight
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,...
Baker Hughes US weekly oil rig count 504 vs 502 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,...
Atlanta Fed GDPNow initial estimate for Q4 growth debuts at 2.3%
The Atlanta Fed GDPNow initial estimate for Q4 growth debuts at 2.3%. In their own wordsThe initial GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.3 percent on October 27. The initial estimate of...
Nasdaq falls sharply this week & falls below 200 day MA, but there is still some hope.
The NASDAQ index is up 127 points or 1.0% at 12721.65, but this week saw a sharp move lower that took the price below its 200 day moving average for the 1st time since March 2023. The price also fell below the 38.2% retracement of the move up from the 2022 low to the...
USDJPY sellers making a play. What does that mean? Where are the risks? Find out here.
The USDJPY sellers are making a play today with the break below the 150.00 level. Not only was the level a key natural level, but also corresponded with the 100-hour moving average. That's key.The prices also fall below its 200-hour moving average 149.898. That's key...
Reports of explosions in and out of Gaza
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,...
BOJ likely to raise CPI forecast to 2% range – report
BoJ Governor UedaNikkei is out with a Bank of Japan scoop ahead of Tuesday's meeting and decision.The Bank of Japan is likely to raise its consumer price index outlook for fiscal 2024 (starting in March) to the 2% growth range at next week's meetingThe current...
NZDUSD failed on a break below a key trend line this wk. Does it open a door for buyers?
NZDUSD sellers failed on a break below a key trend line on the daily chart this week. Does that failed break open a door for buyers going forward? Not so fast!Buyers have some control on the failed break, but they need to do more.In this video, I take a look at the...
Nasdaq 100 Finds Spark Thanks to Amazon Ahead of Fed. Dead Cat Bounce or Not?
NASDAQ 100 FORECAST:The Nasdaq 100 rebounds off technical support heading into the weekend following a selloff in the previous trading sessionsAmazon leads the charge higher thanks to solid corporate earningsDespite the positive mood on Wall Street, market risks...