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US is pressing Israel to delay Gaza invasion – report

US is pressing Israel to delay Gaza invasion – report

Bloomberg reports that the US and Europe are pressing Israel to delay an invasion of Gaza because they hope to win hostage releases and proceed with negotiations.This news has led to selling in oil and a boost in risk assets.Here is the report."US and European...

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Gold continues it’s surge with $2000 sniffed today

Gold continues it’s surge with $2000 sniffed today

The price of gold last Friday moved up to test its 100/200-day moving average (blue and green lines on the chart below). Sellers leaned against those levels and the price on Monday/Tuesday tried to keep a lid at those moving averages.However, on Wednesday, the price...

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Baker Hughes US oil rig count 502 vs 501 prior

Baker Hughes US oil rig count 502 vs 501 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,...

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UAW Pres. to present plans to workers later today

UAW Pres. to present plans to workers later today

UAW's Pres. Shawn Fain will present the latest to workers during a Zoom meeting at 4 PM ET. Earlier General Motors (GM) proposed an offer to the UAW union that would result in the majority of its workforce earning approximately $40.39 per hour, equating to around...

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European equity close: Terrible week for stocks

European equity close: Terrible week for stocks

Today marked the fifth day in the past six of declines. The past three have been particularly bruising and we closed on the lows again today.Closing changes on the day:Stoxx 600 -1.3%German DAX -1.6%UK FTSE 100 -1.3%French CAC -1.4%Italy MIB -1.4%Spain IBEX -1.2%On...

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Nasdaq nears the September low as decline extends to 1.5%

Nasdaq nears the September low as decline extends to 1.5%

Nasdaq Comp dailyThe Nasdaq continues to bleed lower and is now within striking distance of the September 27 intraday low of 12,963.The S&P 500 chart looks similar and the Russell 2000 has already broken down.Few investors are willing to step in until after we see...

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US equitieds slump for the third day as selling accelerates

US equitieds slump for the third day as selling accelerates

The US House is getting set to vote on a speaker once again but I can't see any reason why the result would change or why it would be a market moving.Beyond that, the market may be worried about weekend risk with Gaza and the broader Middle East. I would have thought...

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USDCHF finds a pause point at dual technical target

USDCHF finds a pause point at dual technical target

The USDCHF has found a stall point on the downside with a cluster of support defined by the:100 day moving average at 0.890050% midpoint of the move up from the July low at 0.88994Swing area going back to early September also near 0.8899When technical levels all line...

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