US 10 year yields dailyA big thing to look for in any top or bottom is an outside day. That's where a candle exceeds the prior day's range. In this case, it would show an fresh high, followed by a close below the prior day's lows.We're still six hours to the close, so...
Euro Latest: Germany Likely Contracted in Q3, PMI and ECB Meeting Next
Euro (EUR/USD, EUR/GBP) News and Analysis Recommended by Richard Snow Get Your Free EUR Forecast Get My Guide Bundesbank Hints that German Economy Likely Shrunk in Q3Germany’s Bundesbank produced a monthly report pointing towards the likelihood of another quarterly...
GBPUSD making a break to the upside. Trades above its 200 hour MA and runs.
The GBPUSD buyers are breaking the price of the pair higher, and in the process are extending above it at 200 hour moving average with momentum at 1.21844. That level will now be a risk level for buyers. Staying above is more bullish.On the top side, there is a swing...
Bill Ackman triggers a rebound in risk trades
Bill Ackman significantly enhanced his reputation with his loud (and correct) call for a drop in bonds. He announced today that he covered it, netting a big profit."There is too much risk in the world to remain short bonds at current long-term rates," he wrote. "The...
USDCHF held a cluster of support near the 0.8900 level last week. What next?
The USDCHF last week came down to test a cluster of support including the:100-day moving average50% retracement, andSwing areaall near the 0.89000 level. Support buyers leaned against that key technical level.Having said that on the top side, the corrective high could...
Eurzone October flash consumer confidence -17.9 vs -18.3 expected
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,...
Bill Ackman says he covered his bond short
Back in early August, Bill Ackman began to tout a short 30-year bonds position "in size" as a portfolio hedge. Today he said they have covered that position, without saying when."There is too much risk in the world to remain short bonds at current long-term rates," he...
Another weak open for the Nasdaq/US stocks
The major stock indices are once again lower on the day. The broader S&P and NASDAQ index are working on their 5th consecutive day to the downside. The NASDAQ has shed near another 100 points or -0.77%. This week, 4 of the "Magnificent 7" are announcing earnings (...
USDCAD finds willing sellers ag. targeted swing area, but remains above 100 hour MA too.
The USDCAD is trading in an up-and-down range today. The low in the Asian session was stalled near a swing area between 1.3687 and 1.3700. The rising 100-hour moving average is now in between that area at 1.36928 (see blue line in the chart below). If the price were...
US equities set to break the trend of Monday gains
S&P 500 futures are down 0.46% just ahead of the open. They were trading higher through most of Asian trading but fell as Europe arrived then staged a modest recovery in the past three hours.Spoos intradayHere's a great chart from @MikeZaccardi highlighting the...
A reminder of what happened when US 10-year yields hit 4% last year
Here's a reminder of what happened in September 2022 when US 10s hit 4% for the first time this cycle. Yields traced out a huge intraday reversal and eventually fell all the way to 3.59% in a week.Ultimately, that proved to be a short-term move and yields reached new...
Kickstart your FX trading for October 23 with technical look at EURUSD, USDJPY and GBPUSD
In this morning video on October 23, 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 has moved up to test the swing era...
Chicago Fed national activity index +0.02 vs -0.16 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,...
The GBP is the strongest and the AUD is the weakest as the NA session begins
The strongest to the weakest of the major currenciesThe GBP is the strongest and the AUD is the weakest as the North American session begins. The USD is mixed with gains versus the JPY, CHF, and NZD and declines vs the EUR, GBP and CAD. The greenback is little changed...
ForexLive European FX news wrap: 10-year Treasury yields briefly touch above 5%
Headlines:Markets:EUR leads, NZD lags on the dayEuropean equities lower; S&P 500 futures down 0.4%US 10-year yields up 6.5 bps to 4.988%Gold down 0.1% to $1,978.51WTI crude down 0.6% to $86.30Bitcoin up 3.7% to $30,690The session started off with some light relief...
Nasdaq Composite Technical Analysis – The bears remain in control
Last week, we got some risk aversion in the market as the tensions in the Middle East intensified. In fact, going into the weekend the bearish momentum increased as ABC news reported that the Israeli military got the "green light" to move into Gaza whenever it was...
Heads up: A note on the UK labour market data due tomorrow
In case you missed this headline last week: Heads up: UK labour market data today will only be a partial oneONS is now out with an operational note stating that the release tomorrow will feature "a new series using additional data sources to produce adjusted levels...
USD/JPY but a whisker away from retesting the 150.00 mark
USD/JPY daily chartThe pair now trades at 149.98 and at the highs for the day, albeit in a rather constricted range. It's been a while coming and the pair has been teasing for a push back towards 150.00 since last week already. The last attempt in early October was...
Equities dragged lower, dollar muted as 10-year US yields hit 5%
10-year Treasury yields are at their highest since 2007, touching 5.018% currently as the selling in the bond market continues. I would've expected a slightly more reactive function in the dollar but that hasn't really been the case. The greenback is rather muted...
Dow Jones Technical Analysis – New lows in sight
Last week, we got some risk aversion in the market as the tensions in the Middle East intensified. In fact, going into the weekend the bearish momentum increased as ABC news reported that the Israeli military got the "green light" to move into Gaza whenever it was...