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 equity close: An afternoon dip is bought
SPX intradayClosing changes for the main North American markets:S&P 500 +0.3%Nasdaq Comp +0.5%DJIA -0.3%Russell 2000 -0.5%Toronto TSX Comp -0.4%It was a bit of a strange one with a strong dump in stocks in the US afternoon that was eventually swallowed up. There...
Trade ideas thread – Friday, 7 February, insightful charts, technical analysis, ideas
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,...
Economic calendar in Asia 07 February 2025 – speeches from BOC Gov Macklem, Fed’s Logan
A couple of high profile speakers on the data calendar:Bank of Canada Governor Macklem speaking again after last week's rate cut:Also Federal Reserve Bank of Dallas President Lorie Logan. I can't recall the last time Logan spoke publicly. Logan tends to be on the more...
January non-farm payrolls preview by the numbers: Positive signs abound
Consensus estimate +170K Estimate range +60K to +250KDecember was +256K Private consensus +141K versus +223K priorUnemployment rate consensus estimate 4.1% versus 4.1% priorPrior unrounded unemployment rate 4.0855%Prior participation rate 62.5%Prior underemployment U6...
Fed’s Waller says stablecoins would make dollar even more of a reserve currency
Christoper WallerI would be curious about the structure of any USD stablecoin. One of the things the US loves to do is sanction. If you have some kind of open stablecoin, it would take that power away. So instead you would have a stabelcoin that could be confiscated,...
The number 20 is important in technical analysis, and for some reasons.
Technical analysis is filled with numbers, patterns, and sequences that traders rely on for identifying trends, reversals, and breakouts. But among these, one number stands out repeatedly: 20.From moving averages to Donchian Channels, Bollinger Bands, and even the way...
US stocks turn lower. Amazon in focus ahead of earnings
Moderate gains in US stocks earlier today have turned to losses as some selling creeps in. I wouldn't say there is too much angst ahead of non-farm payrolls as there are plenty of disinflationary signals even if Friday's report is strong.A bigger source of concern...
Trump laid out six tax priorities in a meeting with Congress
The WSJ reports that Trump highlighted six priorities:No tax on tips, Social Security, overtime payRenew 2017 tax cutsAdjust SALT capEliminate tax breaks for "billionaire sports team owners"Close carried interest tax deduction loopholeTax cuts on products made in...
WTI crude oil falls to the lowest levels since December
Oil started US trading higher after Saudi Arabia raised prices on its barrels but talk of peace in Ukraine and Trump touting lower oil prices as a way to ease inflation has weighed on crude.That has WTI crude oil trading 56-cents lower to $70.47 and at the lowest...
Fed’s Goolsbee: First effects of tariffs may be less imporant than impacts on expectations
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,...
Treasury’s Bessent: We do want the dollar to be strong
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,...
Credit Agricole: Friday’s NFP could send USD/JPY to 150
USD/JPY weeklyCredit Agricole sees Friday's NFP report as a key trigger that could push USD/JPY lower toward 150, especially with falling UST yields weighing on the pair.Key Points:UST Yields Declining, Adding Pressure on USD/JPYTreasury Secretary Scott Bessent...
Breaking the norm: Meta stock on epic 14-Day Winning Streak
Strong trends are Fast Directional, andTend to go farther than what traders expect. Shares of Meta are exhibiting a strong upward trend, currently working on their 14th consecutive day of gains, marking a record for the stock. While this remarkable streak might...
Pound bounces back following today’s rate cut
GBP/USD 10 minsThe FX market is having a re-think on the Bank of England rate cut reaction. After falling in the lead-up to the announcement and the immediate aftermath, it found a bottom near 1.2360 and has climbed 80 pips.Some of that is broader US dollar weakness...
ECB’s Vujcic: Best thing to do is wait-and-see given high level of uncertainty
I can't remember a better time to be a central banker, as this is a similar refrain from all of them. There is some optimism on growth and inflation is falling. There's is a 'stagflation' narrative in the UK today but elsewhere you could argue it's the opposite, with...
US dollar feels some fresh pressure
USD/JPY is hitting a fresh six-week low as the dollar weakens broadly.Since Monday, the US dollar has been under steady pressure as the market re-evaluates how hard it expects the Trump administration to go on tariffs. There's an increasing sense that they're more of...
GBPUSD bounces after the BOE rate cut news runs its course
The GBPUSD experienced steady declines during the Asian session and ahead of the BOE rate decision. The Bank of England cut rates by 25 basis points, as widely expected, but the fact that two members voted for a more aggressive 50 basis point cut added to the bearish...
Trump admin releases new sanctions on Iran
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,...
German DAX stretches to record high
All the pieces appear to be falling into place for a deal to end the war in Ukraine.Earlier this week, I highlighted that Zelensky said they're ready for a diplomatic track to end the war. Last month, there was also a report saying that Putin believed his key war...