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 USDJPY is stretching toward the 200 day MA. BOJ Ueda speaking.
BOJ Ueda is on the wires saying:Optimism over U.S. economic outlook seems to be broadening somewhatWe need to scrutinize further whether optimism over U.S. outlook is sustainedBOJ still can afford to spend time scrutinising risksRecent yen falls driven partly by...
NASDAQ index trades near highs. Ping-pongs between hourly moving averages today
The NASDAQ index is trading near session highs as trades look to retest its 50-hour moving average currently at 18418.93. The price has reached 18413.38 so far. The index is probably up 125 points or 0.68%.Yesterday, the price fell below the 50-hour moving average...
Euro comes up for air in a rise back above 1.08. Why the bounce?
The euro is at the highs of the day as it rebounds following three days of selling. The gains are mostly driven by the US dollar slide as it retraces following a long run. Treasury yields are down today with US 10s lower by 5 bps to 4.19%.Zooming out further, the euro...
NZDUSD corrects higher today but runs into topside swing area resistance.
Yesterday's Price ActionYesterday, the NZD/USD followed the USD's upward momentum, breaking below the swing area support between 0.6031 and 0.60387. This move propelled the pair to a low of 0.59976, just shy of the psychologically significant 0.6000 level.Today's...
ECB’s Lane: Disinflation “well on track” to hit target in 2025
Latest underlying inflation measures hovering around 1.9% to 2.8%, down significantly from peak range of 3.4% to 7.5%Core inflation (ex food & energy) down to 2.7% in Sept vs 4.5% a year agoPersistent and Common Component of Inflation measure at bottom of range at...
Introducing iFX EXPO Dubai 2025 – MENA’s No.1 B2B & B2C Online Trading Event
Mark your calendars! MENA’s most popular online trading event – iFX EXPO Dubai 2025 – returns to the region, with the latest instalment promising to be the biggest and best one yet.Taking place between January 14-16, 2025, at the Dubai World Trade Centre, the 2+ day...
US 30 year mortgage rises to 6.54% up from 6.44% last week.
The existing home sales yesterday came in weaker. The new home sales data today came in stronger. Existing home sales account for about 80% of home sales in the US.Today, the Freddie Mac 30 year mortgage rate rose to 6.54% from 6.44% last week. This is highest level...
S&P 500 gives back gains, turns negative
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,...
Buyers in the USDCAD held support. Price moves back higher
The USDCAD experienced a decline in the European and early North American sessions but rebounded strongly after testing support near 1.3813, its earlier weekly floor. This upward swing has brought the pair back to the swing area between 1.38337 and 1.38475, with the...
European equity close: Gains erode late
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,...
Justin Trudeau says he will lead Liberals into the next election
The Liberal Party behind Canadian Prime Minister Justin Trudeau tried to force him out this week, or at least 20 MPs did, but the move looks like a failure.They held a meeting yesterday and told him to make up his mind by Monday. He reportedly told caucus he would...
The AUDUSD buyers had their shot, but missed. The price moves back toward 200 day MA
In the above video, I speak to the technicals that are driving the AUDUSD in trading today. The buyers had their shot. Sellers are taking back control. Can they keep the momentum going?. Below is a summary of those technicals.AUD/USD Technical AnalysisKey Break and...
KC Fed manufacturing index 0 vs -18 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,...
USD/CHF Technical Analysis: Key levels to watch in current market dynamics
In the above video, I speak to the technicals that are driving the USDCHF in trading today. Below is a summary of those technicals. Market OverviewThe USD/CHF begins the day with a relatively narrow 21-pip trading range, significantly below its average monthly range...
US Sept new home sales 0.738m vs 0.720m expected
Prior was 0.716m (revised to 0.709m)Sales up 4.1% vs -2.3% priorEarlier today, Whirlpool warned about a soft housing market."General housing market... is still in a very soft spot. And that's -- we all know, is ultimately driven by mortgage rates. But then the...
Mixed open for the major US indices
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,...
Tesla surges while tech giants wobble: A snapshot of today’s market
Stock heatmap by FinViz.com Thu, 24 Oct 2024 13:46:04 GMTSector OverviewThe stock market heatmap today reveals fascinating sector dynamics. Notably, Tesla (TSLA) soared by 13.00%, leading gains in the consumer cyclical sector, while technology giants exhibited mixed...
US October flash S&P Global services PMI 55.3 vs 55.0 expected
Final Sept reading was 55.2Manufacturing 47.8 vs 47.5 expectedPrior manufacturing was 47.3 priorComposite 54.3 vs 54.0 priorThese numbers are a touch hot, highlighting once again that the US economy is fine.Commenting on the data, Chris Williamson, Chief Business...
USDCAD corrects lower after BOC rate cut. A swing low tries to hold support today.
In the above video, I take a technical look at the USDCAD after the 50 bp cut yesterday. That move took the price higher and outside a key swing area, but could not sustain momentum. However, the decline today is trying to hold support at an earlier base level this...