The US Treasury sanctioned a long list of Russian companies today that were involved in acquiring machine tools, equipment and key inputs for the war in Ukraine. It also went after companies boosting Russia's energy production and exports.However US and European...
USDCAD rebounds above moving averages but faces resistance at key area
The USDCAD experienced a decline following the release of the US CPI data, briefly dropping below a key support level near 1.35478. However, it quickly rebounded, surpassing several important technical indicators: the 200-hour moving average at 1.3567, the 100-hour...
The rout in oil resumes as WTI falls through $70 again
Oil has fallen for seven straight weeks and is in danger of falling again this week after a $2 decline today.WTI is trading down $2.07, or -3.0%, to $69.25. The drop nearly erases three days of modest gains and comes ahead of weekly private US inventory data later...
US stocks open mixed. Nasdaq and S&P trade above and below unchanged
The major US stock indices are trading mixed with the S&P and Nasdaq trading above and below unchanged (now lower). The Dow is holding onto small gains at the open The CPI data was around expectations. It just wasn't bad but it wasn't better than expected. As a...
The major currency pairs bounce back after initial reaction to US CPI data
The initial reaction off the US CPI data this morning was a dollar move to the downside. HMMMMM. However, that move was quickly reversed. In this video, I outline the technical levels that are in play for the three major currency pairs – the EURUSD, USDJPY, and...
US dollar initially falls on CPI report, then has second thoughts. Here’s why
The market quickly changed its mind about the CPI report.The initial reaction was to sell the US dollar but it quickly reversed and now the dollar is higher. The market was pricing in 115 bps of Fed cuts next ahead of the report, then that rose to 120 bps but has...
The USD is higher after CPI data. Stocks are still up but off their high levels. Yields up
The US CPI came in about as expected. The headline number MoM was a bit higher at 0.1% versus 0.0% expected, but the YoY levels came in as expected. The core YoY came in at 4.0%. However, the last six months the core measure is 2.8% which is a step in the right...
US November core CPI 4.0% y/y versus 4.0% y/y 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,...
EURUSD trades higher into US CPI data
EURUSD moves higher ahead of US CPI dataThe EURUSD is trading higher ahead of the US CPI data. The headline CPI is expected at unchanged for the month and +0.3% for the core. The gains in the EURUSD today were supported by better-than-expected ZEW sentiment data...
Final Countdown Underway to iFX EXPO Dubai 2024
The countdown to the leading online trading expo in the MENA region is on, with only five weeks remaining until the iFX EXPO Dubai 2024 kicks off! This landmark event will look to bridge the gap between brokers and traders, offering the ideal platform for both to...
Why today’s US CPI report is less likely to spark a big market reaction
US CPI m/mThis post has the potential to age terribly at the bottom of the hour when CPI is released but I think the days of huge market reactions to CPI are over.BMO puts it this way:"We’re left to ponder whether the core-CPI figures will be traded with as much...
ForexLive European FX news wrap: Dollar sags in run up to CPI
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 Use of Blockchain Technology in Tracking Funds and Resources
Blockchain technology has gained significant attention in recent years due to its potential in revolutionizing various industries. One particular area where blockchain technology has shown promise is in tracking funds and resources. In this article, we will explore...
China says will consolidate and enhance economic recovery
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 Rise and Implications of Mobile Banking
Mobile banking has grown rapidly in recent years, revolutionizing the way people interact with their finances. With the increasing penetration of smartphones and the internet, mobile banking has become a convenient and accessible method for individuals to manage their...
US November NFIB small business optimism index 90.6 vs 90.7 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 Impact of Cryptocurrency on Traditional Banking
Cryptocurrency has emerged as a disruptive force in the financial world, challenging traditional banking systems and revolutionizing the way people transact and store value. With the advent of Bitcoin in 2009, followed by an explosion of other cryptocurrencies such as...
China confirms that it held its annual Central Economic Work Conference this week
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,...
Yields lower awaiting US CPI data
US Treasury 10-year yields (%) daily chart10-year yields in the US are down over 4 bps to 4.193% currently, keeping with the downtrend still since the drop from 5% at the end of October. The lower yields today is also partly weighing on the dollar at the moment, with...
USDCAD Technical Analysis – Waiting for a breakout
USDThe Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The latest US Core...