GBPNZD daily chartRBC recommends selling GBP/NZD in its trade of the week. They have a target of 2.0150 and a stop at 2.0750.For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month....
New Zealand dairy prices rise at fourth straight auction
NZD got a lift at the start of the week on the election and the latest dairy numbers should helped to improve terms of trade. The GDT Price Index rose 4.3% with whole milk powder prices up 4.2%. This is the fourth consecutive auction with higher prices following the...
Sellers in the EURUSD give up & buy instead. Technicals tell the story and give the clues.
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,...
Japanese Yen Price Action Setups: USD/JPY, GBP/JPY Update
JAPANESE YEN PRICE, CHARTS AND ANALYSIS:Yen Gets Temporaray Boost on Rumors of BoJ Increase in Inflationary Forecasts.BoJ Threats of Intervention are Starting to Become a Regular Occurrence. How Long Before it Loses its Shine?IG Client Sentiment Shows an Overwhelming...
Fed’s Barkin: Anecdotal information points to more economic slowing that data is showing
Fed's BarkinAnecdotal info points to better labor demand and slowing growthFed has time to see data before making next rate hike movePath for inflation is not yet clear, but sees clear progressWage pressures remain but overall they have moderatedStill seeking...
Dollar gives it all back as risk trades run
The US dollar has given back all its post-retail sales gains even with yields still near the highs of the day. US equities are also staging an impressive comeback with the Nasdaq trimming its decline to -0.5% from -1.5%.USD/CAD has made a complete round trip.USDCAD 10...
AUDUSD trades the technicals on the top and bottom side. Up and down trading today.
The AUDUSD initially moved higher during the Asian and European trading sessions but encountered resistance at its 200-hour moving average and the 50% midpoint of last week's trading range, around the 0.6366 level. This resistance zone was tested twice.Later, during...
NAHB housing market Index for October 40 versus 44 estimate
NAHB housing market index falls to lowest level since JanPrior month 45 dollars to 44NAHB housing market Index for October 40 vs 44 estimate. Lowest level since January 2023. The index has fallen for the 3rd straight monthSingle-family sales current 46 vs 50 last...
US August business inventories +0.4% vs +0.3% expected
Prior was 0.0%Retail inventories +0.5% vs +0.6+ priorThese numbers will go into the GDP report to be released at month end. Notably, US inventories are still well-above the pre-pandemic trend. Some of that might be companies aiming not to get hurt by supply chain...
Global yields continue to push higher
US 10y yieldsThere was some hope that yields would stop rising after the Gaza terrorist attacks but that's looking less and less like the case, in large part because the US economy continues to hum.The market is pricing in a higher-for-longer scenario with just 58 bps...
US stocks siink with the Nasdaq lagging
Nasdaq Composite dailyA stronger US retail sales report isn't the great news that markets wanted as it pushed Treasury yields higher across the curve and re-raised the possibility that the Fed isn't done or will have to hold rates higher for longer.In turn, equity...
Major US stock indices trading lower led by the NASDAQ index
The major US stock indices are moving lower led by the NASDAQ index which is trading down over 1.1%. Showing the expected retail sales (and industrial production) are sending yields higher. With the Fed decision upcoming on November 1, concerns that the Fed may go...
Kickstart your FX trading for October 17 with technical look at EURUSD, USDJPY and GBPUSD
Kickstart your forex trading on October 17 with a technical look at the technicals driving the EURUSD, USDJPY, and GBPUSD.EURUSD:The EURUSD is trading lower after the better-than-expected retail sales and in the process fell back below the 100 and 200 hour moving...
No comments from the Fed’s Bowman on moentary policy in speech
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,...
US Sept industrial production +0.3% vs 0.0% 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,...
Bank of America highlights a slowing but steady economy; sees soft landing
Bank of America is facing a mountain of unrealized losses on its hold-to-maturity portfolio but its quarterly numbers were good today. Shares of BAC are up 1.7% in the pre-market.For us, what's more important is the broader economy and Bank of America has an...
US plans update rules related to semiconductors and chipmaking equipment exports
The United States plans to update rules related to semiconductors and chipmaking equipment exports, with updates expected to occur at least annually, according to the Commerce Secretary. These updates will affect exports of chips to foreign units of companies...
US dollar jumps after another show of US consumer strength
As the old saying goes: Never underestimate the spending power of the US consumer.The US dollar is at the highs of the day on most fronts after a strong September retail sales report. Headline sales rose 0.7% compared to 0.3% expected and the closely-watched control...
US September retail sales 0.7% versus 0.3% expected
Prior was 0.6% revised to 0.8%Details:Retail sales MoM 0.7% versus 0.3% expectedEx-autos 0.6% versus 0.2% expected. Prior ex-autos 0.6% revised to 0.9%Control group 0.6% versus 0.0% expected.Prior control group 0.1% (revised to 0.2%)Retail sales ex gas and autos 0.6%...
Canada September CPI 3.8% versus 4.0% expected
Prior month 4.0%CPI MoM -0.1% versus 0.1% expectedPrior MoM 0.4%Core measures:BOC core YoY 2.8% versus 3.3% last monthBOC core MoM -0.1% versus 0.1% last monthCPI median 3.8% versus 4.1% last month CPI trim 3.7% versus 3.9% last monthCPI common 4.4% versus 4.8% last...