The US treasury will auction off $38 billion of 7 your notes at the top of the hour. The summary of the major components and their 6 month averages are outlined below:Tail: bps (previous: 0.3bps, six-auction average: -0.2bps)Bid-to-Cover: x (previous: 2.47x,...
Nasdaq now down 2%
The NASDAQ index is now down over 2% as selling is starting to pile on. The high flyers are fairing even worse.Nvidia -4.10%Meta -5.04%Apple -2.95%Alphabet, -2.88%Microsoft -3.95%Tesla -3.32%Amazon -2.32%Ouch.Individual stock technicals are also being breached:Apple...
US stocks extend their slide. The S&P is now down -1%
The major US stock indices continued their slide.S&P index is now down -1.03% at 4143.68. It fell below its 200 day moving average earlier this week at 4239.53, and below its 38.2% retracement of the move up from the October 2022 low at 4180.95 todayNASDAQ index...
ECB sources: policymakers agreed to debate PEPP reinvestment end date
> ECB sources: policymakers agreed to debate PEPP reinvestment end date ECB kept rates unchanged today <!--> --> <!--> ECB sources:Agreed to debate PEPP reinvestment end date this winter, and minimum reserves as part of the framework review.ECB...
European indices close lower led by the German DAX
Major European indices are closing lower on the day. The declines are led by the German DAX which fell -1.08%.. The decline today sent the index lower for the week with one day left.A snapshot of the closing levels shows:German DAX, -1.08%. For the trading week, the...
Iran Foreign Minister: US/Iran does not want expansion of Israelite – Hamas war
The Iran foreign minister:Says to the US, that Iran does not want expansion of Israel-Hamas war.If the genocide in Gaza continues, the US will not be spared from "this fire"Hamas is ready to release civilian prisoners, the world should support release of 6000...
Two for one: A technical look at the AUDUSD and NZDUSD.
Both the AUDUSD and NZDUSD have been trading similarly over the last two trading days. Yesterday, the AUDUSD led the way with a rise early in the Asian session after stronger-than-expected CPI data. Buyers then turn to sellers and pushed lower and lower into the...
BBC: Hamas considering leaving Gaza for Lebanon, Turkey, or elsewhere..
BBC Mark Urban is tweeting that Hamas is considering leaving Gaza for refuge in Lebanon, Turkey or elsewhere. Will Hamas leave Gaza?It is somewhat like shuffling the spaghetti around the plate (once a terrorist organization was a terrorist organization), However, it...
USDCAD continues to follow the technicals higher
The USDCAD has been stepping higher over the last few weeks, and in the process has been using technical support levels to push to the upside. At 1st it was the 100/200 bar moving averages on the 4-hour chart. In trading this week, the price extends above the early...
FX Intervention Watch: USD/JPY Breaches 150 Ahead of US PCE
Japanese Yen (USD/JPY) AnalysisUSD/JPY goads Japanese officials after latest move above 150Japanese government bond yields rise, prompting more buying from the BoJUS PCE data tomorrow and the Bank of Japan meeting concludes on TuesdayThe analysis in this article makes...
Kansas City Fed composite index for October remains at -8. Unchanged from the prior month.
The Kansas City Fed is out with their monthly survey:Composite index for October remains at -8 versus -8 last month. Manufacturing index came in at -8.0 versus -13.0 last monthA summary from the KC Fed:In October, the month-over-month composite index remained...
There is no joy in US stocks. Major indices still under pressure.
There is now joy in US stocks, despite what has been more favorable earnings. The idea of a slowing economy is just not sitting well despite the fact that the economy is showing fairly decent strength (see durable goods orders and GDP but is it a last hoorah?). Also,...
USDCHF breaks higher today but does find willing sellers against target swing area.
The USDCHF moved above it's 200-hour moving average (green line in the chart below) in the Asian session, and then worked its way toward the next target defined by a swing area between 0.8982 and 0.9000 (the 200-day moving averages also in play at 0.9008). Sellers...
US pending home sales up 1.1% versus -1.8% expected
Prior month -7.1%Pending home sales up 1.1% versus -1.8% expectedPending home index rose to 72.6 from 71.8Looking at the different regionsNortheast PHSI decreased by 0.9% to 62.6, marking an 18.2% reduction from August 2022.Midwest index dropped by 7.0% to 71.3, down...
US stocks opening with mixed results. Recover from earlier declines.
The major indices are trading mixed in early US trading. Both the Dow industrial average and S&P index traded above and below the unchanged level. The NASDAQ index remains in the red but well off the premarket low levels as well.A snapshot market 6 minutes after...
US stock future imply a lower open
US stock futures are implying a lower opening after sharp declines yesterday. The NASDAQ index had its 2nd worst trading day of the year with a decline of -2.43% (the worst day of the year was -2.5% on February 21). The features are currently implying:Dow Industrial...
Kickstart your FX trading for October 26 with technical look at EURUSD, USDJPY and GBPUSD
In this morning video on October 26, 2023, I kickstart the Forex trading day with a technical look at the EURUSD, USDJPY and GBPUSD. What are the biases, the risks, the targets for those three major currency pairs?EURUSD: The EURUSD is moving higher despite stronger...
Lagarde Q&A: Now is not the time for foward guidance, it’s time for data dependency
PEPP wasn't discussed at this meetingOur determination to bring inflation to 2% is intactRise in yields is a spillover that we take into account, it helps bring inflation downWhat we are seeing is a very-strong transmission of our monetary policy in the banking system...
Lagarde opening statement: Past hikes are increasingly dampening demand
Rates will make a 'substantial contribution' to curbing inflationThe eurozone economy remains weakTighter conditions are weighing on investment and savings; highlights drag from industrial sectorEconomy is likely to remain weak for the remainder of this yearThere are...
Watch live: ECB press conference
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,...