Crude oil is settling at $73.82. That is down $-2.03 or -2.68%. The low price today reached the $73.70. The high price extended to $76.95. The big catalyst headline from Al Jezeera that Israel agreed to a cease-fire proposal. After some confusion and denials from...
AUDUSD has rebounded and in the process is back up testing 50% and 200 day MA. What next?
The AUDUSD at the start of the new trading day, moved lower and in the process fell below a dual technical level defined by the 100-day MA and a key swing floor near 0.6526. The price low reached down to 0.6507, but the momentum faded, and the price started to trade...
Hamas says it’s studying the latest ceasefire proposal
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,...
What a mess the cable 4-hour chart has turned into
Here is the four-hour chart of GBP/USD going back to December 12.GBPUSD 4 hourThat's six weeks of trading hell.Today it's now testing yesterday's high in a strong reversal on broad USD selling but this is the kind of chart where you do not want to get involved until...
A Qatar official says there is no ceasefire deal for Gaza yet
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,...
Al Jazeera deletes tweet saying Israel agrees to pause fighting
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,...
SocGen now sees the Bank of Japan raising rates to 0% in March
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,...
Oil drops on Israel-Hamas ceasefire
The parameters of an Israel-Gaza ceasefire aren't yet but the oil market isn't waiting for confirmation. WTI has fallen to $74.28 from $76.74 before the headlines. That's wiped out the late-January gains.oil 10 minsThe drop in oil isn't so much about Gaza and Israel;...
US stocks move to upside (and new highs) after the ceasefire headlines
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 rises to 4.2%.
The Atlanta Fed GDPNow estimate for Q1 2024 growth was released earlier and increased to 4.2% from 3.0% from the January 26 estimate. In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 4.2...
Al Jazeera: Qatar says Isreael has agreed to a ceasefire proposal.
Al Jeezera is reporting that:Qatar says Israel agrees to a ceasefire proposal.There has not been an acceptance from Hamas as of yet. Crude oil has moved lower and is now negative on the day at $75.49 (down around $0.30). Technically, the price has moved below the...
GBPUSD moves above the 100/200 hour MAs. Bias back to upside.
GBPUSD trades back above the 100/200 hour MAThe GBPUSD is following the dollar lower moves seen as yields in the US tumble. the market is discounting the comments from Fed Chair Powell and thinking more in terms of slower growth/higher unemployment. The regional...
Why bonds are ripping higher and the dollar is being pulled lower
US 10-year yields are now down 14 basis points on the day to 3.82% and the US dollar is slumping.US 10 year yields dailyI wrote about this earlier but the moves have extended and it's seeping into FX with the dollar at the lows of the day.The market is increasingly...
EURUSD breaks above key resistance, signaling bullish momentum
EURUSD moves above the 200 day MAThe EURUSD is moving to a new session high (USD lower). Yields in the US are moving lower helping to weaken the USD in the process. The 10-year yield is now down -14.1 basis points at 3,818% and trades at new lows for the new year. The...
USDCAD rotates lower and trades at new lows for the day. Key support area being tested.
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,...
Banking worries are back and bonds are bid
KRE bank indexIt was around this time last year that US banking worries began to percolate. That ultimately catalyzed into something of a crisis in March as several banks were wiped out including Silicon Valley Bank, First Republic Bank, Silvergate Bank and Signature...
USDCHF is trading between MA resistance above, and a key swing level below. Get updated.
The USDCHF moved from a key swing area at 0.86058 in the early Asian session. That was a floor but back to January 17 before breaking to downside yesterday ahead of the FOMC rate decision. The subsequent move to the upside after Fed Chair Powell put the kibosh on a...
US construction spending for December 0.9% versus 0.5% expected
Construction spending rise by 0.9%Prior month 0.4% revised to 0.9%Construction spending for December 0.9% versus 0.5% expected. Highest level since May 2023Private construction 0.9% vs 0.7% last monthPublic construction 1.3% vs -0.7% last monthStronger than expected...
US January ISM manufacturing 49.1 vs 47.0 expected
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US January S&P Global final manfacturing PMI 50.7 vs 50.3 prelim
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,...