ECB's VilleroyIncrease in bond yields may be excessive but it is helping to tighten financial conditionsI don't think an additional rate hike is justified nowThis line of thinking is quickly becoming the norm. Central banks may increasingly signal that they're on the...
European equity close: First gains 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,...
AUDUSD rises sharply higher in the Asian session and then erases gains. What now?
The AUDUSD moved sharply higher in the Asian session, only to retrace the gains in the European session. Since then the price has been waffling back and forth between support near 0.6331 (it was the low price from last week) and the following 100-hour moving average...
The interaction between the long and short end will torture Fed decision makers
The long-end of the bond market may have done the final round of hiking for the Fed.There is a pre-occupation about short-term rates in financial markets because the relationships between short-and-long rates are generally stable (or at least don't move quickly). But...
Crude oil falls to key support level today, and is seeing a bounce higher. What next?
The price of WTI crude oil fell to a low of $82.40 today. That level was just short of the low of a swing area between $82.35 and $83.32. Looking at the daily chart below, swing highs going back to November 2022 (see red numbered circles on the chart below) stalled...
Goldman Sachs boosts Q3 US GDP tracker
Expect a continued wave of GDP revisions higher in the days ahead. The US advance Q3 GDP report isn't until October 26 so there is still plenty of data to see before then but any moment now we'll get the latest Atlanta Fed GDPNow report and it will surely be revised...
Canada Sept Ivey PMI 53.1 vs 53.5 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,...
USDCAD trades to a new high, but only by a few pips. What next technically?
The USDCAD price has seen a sharp move to the upside, helped by a sharp fall in crude oil prices of late (down -$12-$13 over the last 5-6 trading days). The pair moved above a swing area on the daily chart this week above 1.3704. Today's low stalled ahead of that low...
Major US stock indices trading little changed in early US trading
As the markets work through the better-than-expected US initial jobless claims, it seems some of the initial price action which saw the dollar move higher, the US yields move higher, and stocks move lower (in premarket), the trading fear has abated a bit. In the first...
The bond bid proves more resilient, USD gains fade
10 year yields, 10 minsThe pop in rates after the US trade balance and jobless claims data has completely faded. It's the first sign of real strength in bonds in awhile and has been coupled with a reversal back to pre-data levels in the US dollar.The strength in bonds...
Gold and Silver Latest Outlooks – Treading Water as US Jobs Report (NFP) Looms Large
Gold (XAU/USD) and Silver (XAG/USD) Analysis, Prices, and ChartsGold continues to struggle at multi-month lows.US Jobs Report is the next macro-driver on the economic calendar.Download the Brand New Q4 Gold Forecast Recommended by Nick Cawley Get Your Free Gold...
US Economy & US Dollar: Tied in Knots
It was a difficult September for bond and stock bulls. After reiterating ad nauseum, it appears that the FOMC’s “higher for longer” message has finally gotten through. In general central banks are mostly in wait and see mode as they assess the many...
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Kickstart your FX trading on October 5 with a technical look at EURUSD, USDJPY and GBPUSD
*** If you like this video, give it a thumbs up. Feel free to leave comments, share or subscribe to our station on YouTube too. To kickstart your trading day in the Forex on October 4, 2023, I take a look at the EURUSD, USDJPY, and GBPUSD from a technical perspective....
Strong trade data and low jobless claims boost dollar as Q3 GDP looks to sizzle
The Atlanta Fed will release an update to its GDPNow forecast shortly and I expect it to rise above 5% from the current 4.9% reading. What's more is that a high number is getting increasingly easy to believe.Today the US reported a $58.3B trade deficit compared to...
US August trade balance -58.3B vs -65.08B 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,...
US initial jobless claims 207K versus 210K estimate
> US initial jobless claims 207K versus 210K estimate US initial dollars claims or continuing claims for the current week <!--> --> <!--> Prior week jobless claims 204K revised to 205Kinitial jobless claims 207K vs 210K estimate4-week moving average...
Canada August trade balance +0.72B vs -1.50B expected
> Canada August trade balance +0.72B vs -1.50B expected Canada August trade balance <!--> Adam Button Thursday, 05/10/2023 | 12:30 GMT-0 05/10/2023 | 12:30 GMT-0 --> <!--> Prior was -0.99BImports vs 61.40B priorExports vs 60.42B prior ADVERTISEMENT -...
THe NZD is the strongest and the CAD is the weakest of the major currencies
The strongest to the weakest of the major currenciesAs the North American session begins, the NZD is the strongest and the CAD is the weakest. The USD is lower as yields dip modestly in early US trading. It is one more sleep until the BLS releases their latest US jobs...
ForexLive European FX news wrap: Dollar and yields kept in check, oil continues fall
Headlines:Markets:NZD leads, CAD lags on the dayEuropean equities higher; S&P 500 futures flatUS 10-year yields down 1.6 bps to 4.718%Gold up 0.1% to $1,822.24WTI crude down 1.6% to $82.88Bitcoin up 0.3% to $27,744It was a slower session in terms of headlines and...