Microsoft tests its 100 day moving averageMicrosoft shares are trading up $2.66 or 0.81% at $329.92. At that level, the share price is testing its 100-day moving average at $329.96. Getting above the 100 day moving average would increase the bullish bias for one of...
WTI crude oil settles at $86.38
The price of WTI crude oil is settling at $86.38 up $3.59 on the day.. The high price today reached $87.20The low price extended to $84.74At session lows, the price tested the swing high going back to August at $84.85. Although the price dipped briefly below that...
France central bank sees Q3 GDP growth of 0.1%
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,...
Hamas official open to a discussion of a truce with Israel
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,...
More from Fed’s Jefferson: Current policy is restrictive
More from Feds Jefferson:It could be the case that rise in the long-run treasury yields reflects anticipation for strong growthCurrent policy is restrictive.Finding the right stance of policy is my concern.As a policymaker unmindful cumulative effects of past rate...
Major US stock indices erase losses. Trading higher on the day.
The major stock indices have erased their losses and are now trading positive on the day. Comments from Fed Jefferson were somewhat encouraging with hopes that the Fed may keep policy on hold. The chance of a hike by the end of the year is down to 27% (from 45% on...
Feds Jefferson:We need to move carefully to balance risk of tightening too much/too little
Fed Gov. Philip JeffersonFed vice chair Jefferson (voting member) speaking and says:We need to move carefully to balance the risks of tightening too much or too littleMay be too soon to say confidently we have tightened enough.Mindful of lag effects of past rates as I...
GBPUSD is trading between technical levels with MAs on the downside and swing area above
The GBPUSD gapped lower today (higher USD) and moved lower into the European session. The low prices for the day tested a swing area 1.2159 and 1.2167. Support held in the London morning session and then early US session before moving higher.The subsequent run to the...
Israeli government says it decides to continue bombing Gaza, even if prisoners are killed
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 within a technical range with the 100H MA as support and swing area above
The EURUSD in the NY session, opened near its 100-hour MA (blue line in the chart below). Sellers could not push the price below that moving average, and sellers turned to buyers. The subsequent move higher worked its way toward a topside swing area between 1.0551 and...
European indices off to a negative start for the trading week
The major European indices are off to a negative start for the trading week. We can geopolitical risks sour the mood of stock buyers.A snapshot of the closing levels shows:German DAX, -0.67%France's CAC -0.55%UK's FTSE 100 -0.03%Spain's Ibex -0.92%Italy's FTSE MIB...
USDJPY falls sharply. Slices through 50% retracement at 148.73 (now resistance)
The USDJPY has fallen sharply over the last few hours of trading and in the process has broken below its 100-hour moving average at 148.957, and the 50% midpoint of the move up from the September 21 low at 148.734. If you recall, that 50% retracement level was...
Ex Fed Pres. Bullard: The story of US recession is not materializing
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,...
Israeli PM Netanyahu told Biden Israel has no choice but to launch ground operations
Geopolitical headlines from Israel:Israeli PM Netanyahu told Pres. Biden that Israel has no choice but to launch a ground operation in GazaIsraeli defense forces announced combat helicopters are currently striking targets in LebanonIsraeli says no negotiations are...
USDCAD sellers make a technical play below 200 hour MA/38.2% retracement level
The USDCAD has been waffling up and down, but cells are now making a play with a move below its 200-hour moving average and 38.2% retracement of the move up from the September 19 flow. Both those levels come in at 1.36293. Staying below increases the bearish bias. On...
US employment trends for September rises to 114.66 versus 114.16 last month (revised)
Prior month 113.02 revised higher to 114.16US employment transfer September 2023 rises to 114.66From the Conference Board:“The ETI rose slightly in September, signaling continued job growth ahead," said Selcuk Eren, Senior Economist at The Conference Board. “The Index...
US indices open lower with the NASDAQ index bearing the brunt of the declines
The major US indices are opening lower with the NASDAQ index bearing the brunt of the declines. The markets are trading without the barometer from the US interest rates as the bond market is closed in observance of the Columbus Day holiday.A snapshot of the market...
More from Feds Logan: It is important to stay focused on restoring price stability
There is a lot of uncertainty over the trade-off with the unemployment rateIt is important to stay focused on restoring price stabilityThe China slowdown is something to watchSurprising strength of the economy creates risk for inflation. We have more work to do.Quite...
Major US stock indices are set to open lower after the weekend attack in Israel
Although the US bond market is closed today in observance of the Columbus Day holiday, the US stock markets will be open. The major indices futures are implying a lower opening after the weekend attack in Israel where over 1100 people have died and thousands are...
Fed’s Barr on regulation: Benefits of proposed higher bank capital outweighs the costs
Fed's Barr has put on his regulatory hat as vice chairman of supervision and says:Benefits of proposed higher bank capital outweighs the costs.Proposed higher capital requirements could raise funding costs for banks, but will enable them to absorb more losses.Post...