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...
US stock futures rebound with Tesla shares leading the way. Whirlpool warns on weak macro
SPX dailyUS stocks are pointed to open higher with S&P 500 futures up 0.5%. A big tailwind is coming from shares of Tesla, which are up 14% pre-market after posting better Q3 numbers than expected.For the broader economy, the comments from UPS were positive as it...
ECB’s Kazaks: Soft landing story is still there but rebound is not clear
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,...
Kickstart the FX trading day for Oct. 24 w/a technical look at the EURUSD, USDJPY & GBPUSD
EUR/USD Technical AnalysisOn Monday, the pair stalled at the 1.0870 area (100-hour MA and 200-day MA convergence), initiating the current downtrend. This convergence increased the falling 100-hour MA's importance going forward.Yesterday, the EUR/USD extended its...
BOE’s Mann: Economic prospects in the UK remain ‘pretty modest’
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,...
Video: Markets braced for dual shocks, the US election and record debt levels. Gold shines
I spoke with Kitco News yesterday to discuss several major themes moving markets right now, from BRICS expansion to pre-election positioning and the broader macro backdrop for the US dollar.We talked about how the US faces mounting challenges with debt levels...
US weekly initial jobless claims 227K vs 242K 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,...
The key technical levels in play for the major currency pairs for October 24, 2024
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,...
ForexLive European FX news wrap: Dollar gains cool alongside yields, for now
Headlines:Markets:JPY leads, USD lags on the dayEuropean equities higher; S&P 500 futures up 0.5%US 10-year yields down 5 bps to 4.192%Gold up 0.7% to $2,735.56WTI crude up 1.0% to $71.49Bitcoin up 0.7% to $67,071Bond yields are coming off the boil and that's the...