USDJPY retraces into intraday supportThe USDJPY peaked short of the natural resistance at 149.00 and technical resistance at 149.10. The high price reached 149.957. The corrective move lower today, has seen the price move down toward 148.72. Looking at the 5-minute...
European equity close: Well off the lows but still a bruising start to the week
On the day:Stoxx 600 -0.7%German DAX -1.1%Francis CAC -0.9%UK's FTSE 100 -0.9%Spain's IBEX -1.3%Italy's FTSE MIB -0.8%Italy further watered down its bank windfall tax but that didn't offer much support today as rising yields dominated.Italy MIB dailyMoneyMaker FX EA...
S&P tests 38.2% retracement and bounces
S&P index tests its 38.2% retracementThe S&P moved to a low of 4302.70 today, and at the low the price of the broad stock index tested the 38.2% of the move up from the March 13 low. The retracement level comes in at 4302.15 – just below the low for the day....
AAAFx Wins ‘Broker of the Year’ at UF AWARDS Global 2023
Multi-asset brokerage AAAFx has won ‘Broker of the Year’ at the UF AWARDS Global 2023 ceremony. The prestigious award was the latest recognition for the brokerage in what has been a productive year in terms of both operations and industry honours.After being vetted...
The USDCHF moves toward the end of May swing high at 0.9165
The USDCHF is pushing higher as yields move higher in the US. Recall from last week as well, that the Swiss National Bank Rates are unchanged. The market was expecting a 25 basis point hike. Meanwhile, the US Rates were unchanged as well, but the Fed did keep one...
Goldman Sachs: The Path to 155 for USD/JPY
USDJPY dailyGoldman Sachs remains bullish on USD/JPY, predicting the pair to touch 150 by the end of this year and 155 in the subsequent six months. This outlook is underpinned by the bank's anticipation of sustained high rates, robust US economic growth, and a more...
Hydranet Launches Layer 3 DEX: A Game Changer for Trustless Cross-Chain Trading
Hydranet, known for its expertise in off-chain trading, just released the Hydranet DEX, a Layer 3 trading platform that integrates multiple off-chain protocols to enable trustless, cost-effective and near-instant cross-chain trading. The Hydranet DEX made its official...
Dallas Fed September manufacturing index -18.1 vs -17.2 prior
Prior was -17.2Details:Output (production) +7.9 vs -11.2 priorNew orders -5.2 vs -15.8 priorEmployment +13.6 vs +4.3 priorOutlook -17.5 vs -18.4 priorPrices paid for raw materials +25.0 vs +17.4 priorPrices received +1.8 vs +1.8 priorWages +34.8 vs +34.9 priorThe...
42-years ago this month 30-year Treasury yields hit 15%
Just like today, long-term borrowing rates were grabbing headlines back in 1981.On September 9, 1981 it wasn't even front page news as US 30-year bond yields hit 15%. In fact, it wasn't even front page business news as it was relegated to page 12 in Section...
USDJPY continues to grind higher.USDJPY now trades at highest level since October 24, 2022
USDJPY moves above next targetsThe USDJPY continues to grind higher and has now moved above the October 31/November 1, 2022 highs at 148.82 and 148.84. The high price just reached 148.862, and trades at the highest level since October 24, 2022. Can the momentum...
EURUSD cracks below 38.2% of move up from September 2022 low
EURUSD below the 38.2% retracementThe EURUSD has now cracked below the 38.2% retracement of the move up from the September 28, 2022 low. That retracement level comes in at 1.06106. The low price for the day just reached 1.0595 on the break. Last week the low price...
Major US stock indices are opening lower
it's 100 day moving averages at 13480.63The major US indices are opening lower to start the trading week. A snapshot of the market currently shows:Dow industrial average down -115.66 points or -0.34% at 33848.19S&P index -13.59 points or -0.31% at 4306.46NASDAQ...
Sellers are making a play in the AUDUSD below the 100/200 bar MAs on the 4-hour chart
The sellers in the AUDUSD are making a play with a move below the 200 and 100 bar moving averages on the 4 hour chart in early US trading (see blue and green lines on the chart below). Admittedly, the price has been trading above and below that moving average over the...
US 10-year yields hit 4.50% — what’s next
US 10-year yield monthlyThis is the final week of September and it's increasingly clear that the theme of the month is bond selling. Today's price action highlights that with 10-year yields up 8.1 bps to 4.52%, which is a fresh high dating back to 2007.That rise is...
ECB’s Schnabel: Activity in the eurozone is clearly moderating
ECB's SchnabelThere is not yet an all-clear for the inflation problemUnusual contraction in monetary aggregates is unlikely to foreshadow a deep recession but rather reflects a significant rebalancing of portfoliosThe question is: How far with the eurozone economy...
ECB’s Lagarde: Recent indicators point to further weakness in the third quarter
ECB's President LagardeJob creation in the services sector is moderating and overall momentum is slowingInflation continues to decline but is still expected to remain too high for too longWe aim to conclude review of ECB framework by spring 2024The euro is down 30...
Kickstart your fx trading on September 25 w/ a technical look at EURUSD, USDJPY and GBPUSD
The new trading week is underway and the US dollar is moving higher. In this video, I take a look at the technicals that are driving the EURUSD, USDJPY, and GBPUSD.EURUSD: The EURUSD stalled against its 100-hour moving average on Thursday and Friday. That moving...
Fed’s Goolsbee: The next question will be ‘how long are we going to hold at these levels’
I think we're getting close to questions about how long we will hold, rather than how highIt feels like we're going to hold longer than markets were expectingThe risk of inflation staying higher is the bigger riskThe employment side of the economy is going very...
Fed’s Goolsbee set to speak on CNBC
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,...
August Chicago Fed US national activity index -0.16 vs +0.12 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,...