The USDCAD traded down and up and down and up and back down and up this week (see hourly chart below). The high price on Monday was retested on Thursday. The low on Tuesday saw the pair, move to and through the 100-day MA (lower blue overlay line on the chart below at...
WTI crude oil futures settle at $90.03
WTI crude oil futures settle at $90.03, up $0.40 or 0.43%. The high for the day reached $91.33. The low was at $89.31.WTI crude oil trades between retracement levelsBrent crude prices settled at $93.27 down $0.03 or -0.03%For the trading week, the price of crude oil...
Stallantis: We have a real soluton on the table
> Stallantis: We have a real soluton on the table Stallantis responds to the UAW strikes <!--> --> <!--> Still have not yet received a response to Thursday's offerWe have a real solution on the table.Offer includes a long-term solution for...
US stocks mixed now w/ the Dow industrial average lower in the S&P trading near unchanged
Major US stock indices are mixed now with the Dow Industrial Average note negative, and the S&P index trading above and below unchanged. The NASDAQ index is holding onto a 0.25% gain.A snapshot of the market currently shows:Dow industrial average -74.68 points or...
GM: We do have contingency plans, and will do what’s best for the company, and customers:
> GM: We do have contingency plans, and will do what's best for the company, and customers: GM responds to the increasing UAW strikes at parts and distribution centers <!--> --> <!--> Escalation of a strike by UAW's top leadership is unnecessaryWe...
The Fed’s Daly (non-voting member): We are closer to our destination
Fed's DalySan Francisco Fed Pres. Mary Daly is a speaking (nonvoting member):We stood at this week on rates in recognition that we are closer to our destination. We are holding rates steady to collect information to see if more is necessary.Holding rates this week...
Baker Hughes oil rig count versus last week.
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,...
USDCHF higher this week and back above 200 day MA. What next for next week’s trading?
The USDCHF traded sideways and then moved lower on Wednesday before finding support near 0.89347, basing and moving to the upside. The Swiss National Bank kept rates unchanged on Thursday helping to propel the price even higher, with the price moving above its 200-day...
Shawn Fain: Biggest objective now is ending pay tiers
Shawn Fain UAW President speaks on UAW strike.As the UAW strikes increases at 38 parts and distributing plants impacting 20 states.UAWs Fain is on CNBC saying:Have a lot of options with our strike strategyBiggest objective now is ending pay tiersStallantis waited over...
European indices close mostly lower on the day. UK’s FTSE 100 ekes out a small gain.
The major European indices are ending mostly lower. The one exception is the UK FTSE 100 which eked out a small gain. A snapshot of the closing levels shows:German DAX fell -5.06 points or -0.03% at 15566.81Frances CAC fell -23.49 points or -0.33% at 7190.42UK's FTSE...
Weekly Market Recap (18-22 September)
Monday:The New Zealand Services PMI fell further into contraction:47.1 vs. 48.0 prior.BNZ Senior Economist Doug Steel commented:“The latest PCI readings suggest any bounce through the Q2 GDP figures will be short lived and are consistent with economic contraction...
EURUSD bangs against the 100 hour MA for the 2nd consecutive day
EURUSD stalls at the 100 hour MA for the 2nd consecutive dayAs the clock ticks to the close for the EURUSD in London/Europ, the pair moved to new session highs, and for the 2nd day in a row, banged against the 100-hour moving average at 1.06715 and found sellers. In...
The AUDUSD and NZDUSD charts are telling the same story. What next?
The AUDUSD and the NZDUSD have similar technical stories to tell. Each has seen up-and-down price action over the last 5-6 trading weeks.Each has its 100 and 200 bar moving averages on their 4 hour charts near the middle of the trading ranges. In trading today, each...
Feds Bowman: Further interest rate increases likely appropriate with inflation still high
A second Fed governor is speaking. FOMC member Bowman is on the wires saying:Further interest rate increases likely appropriate with inflation "still too high."Fed policy will need to be held at a restrictive level "for some time" to return inflation to 2% "in a...
UAW to announce more strikes at GM and Stallantis parts and distribution centers
The UAW will announce more strikes at ports in distribution centers at GM and Stallantis. The strikes will be at 38 ports and distribution centers in 20 states and will start at 12 noon today.. The thinking is that strikes at these centers will hit at the heart of the...
Fed Collins: Despite encouraging recent data, inflation remains too high
Fed's CollinsFOMC member Susan Collins is speaking and says:"Optimistic" inflation can fall with only a "modest" rise in unemployment, sees a "widened" pathway to that outcome.Current policymaking requires "considerable" patience to get the right signal from...
Reuters sources: UAW expected to announce significant new strikes versus GM and Stallantis
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,...
S&P global manufacturing PMI flash for September 48.9 versus 48.0 estimate
Prior month manufacturing PMI 47.9. Services PMI 50.5Manufacturing PMI 48.9 versus 48.0 estimateServices PMI 50.2 versus 50.6 estimateComposite PMI 50.1 versus 50.2 last monthMixed report vs expectations. Manufacturing remains below the 50 level indicative of...
Major US stock indices are trading higher. Major indices on track for lower close this wk.
The major US stock indices are opening higher. The Dow Industrial Average is trading above and below unchanged. The S&P index and the NASDAQ index were higher after sharp declines yesterday.A snapshot of the market currently shows:Dow industrial average -6.91...
Reuters: UAW will announce that it has made progress with Ford in current talks
Reuters is reporting that a source is telling them that the UAW (United Auto Workers) will announce that it has made progress with Ford in current labor talks. They will invite Biden to come to picket line.At the same time, Phil Lebau on CNBC is saying that he would...