The USDJPY has settled in between some technical levels which is controlling the ups and downs. On the top side, the 200 hour moving average at 149.157 is providing close resistance. Above that the high for the day at 149.315 corresponds with swing lows from last...
European equity close: Some back-and-forth before a flat close
Closing changes for the main European equity markets:Stoxx 600 -0.1%German DAX +0.1%French CAC flatUK's FTSE 100 -0.8%Spain's IBEX -0.6%Italy's FTSE MIB -0.2%European stocks earlier today touched the lowest since March but bounced back to flatSTOXX 600 dailyMoneyMaker...
WTI crude falls below $86
Saudi Arabia today reiterated today that it would keep its voluntary output cut in place through year end and OPEC's monitoring committee said it wouldn't recommend any policy changes. Those are headlines that should be bullish but oil is falling anyway, and in...
EIA weekly US oil inventories -2224K vs -446K expected
Prior was -2170KGasoline +6481K vs +161K expectedDistillates -1269K vs -333K expectedRefinery utilization -2.2% vs -0.4% expectedThis helps to explain the breakdown in gasoline cracks.API data late yesterday showed API inventories:Crude -4.21M Cushing +0.705K Gasoline...
EURUSD tests a key support target for buyers and sellers.In this video I will explain why
> Technical Analysis > EURUSD tests a key support target for buyers and sellers.In this video I will explain why Technical Analysis The EURUSD has key support at 1.0483 <!--> --> <!--> --> ADVERTISEMENT - CONTINUE READING BELOW <!--> Tags...
US factory orders for August 1.2% versus 0.2% expected
Factory orders has a sawtooth pattern over the last 3 monthsPrior month -2.1%Factory orders 1.2% versus 0.2% expectedFactory orders ex-transportation for August 1 .4% versus 0.9% last month (revised from 0.8%)Durable goods order revised 0.1% versus 0.2% preliminary...
US September ISM services 53.6 vs 53.6 expected
September 2023 US services survey from the Institute for Supply Management <!--> Adam Button Wednesday, 04/10/2023 | 14:00 GMT-0 04/10/2023 | 14:00 GMT-0 --> <!--> ISM services indexDetails:employment index 53.4 versus 54.7 priornew orders index 51.8...
USDCAD trades to a new session high as crude oil comes under pressure
The USDCAD is trading to a new session high. Lower crude oil prices today are helping to weaken the CAD in what is more of a USD lower day today. The price is training to the highest level since March 24. Technically, the price is moving away from a high of a swing...
US September S&P Global final services PMI 50.1 vs 50.2 prelim
Prior was 50.5Composite index 50.2 vs 50.1 prelimCompanies depleted their backlogs of work at the fastest pace since November 2022 in order to sustain current business activity levelsNew orders rate of contraction quickened to the sharpest since December 2022Three...
A higher open for US stocks as yields give some relief
The major US stock indices are opening higher as yields provide some relief. The ADP jobs report was weaker than expectations. The BLS jobs report will be released on Friday with expectations of 170K versus 187K last month. The unemployment rate, however, is expected...
Strong bids for the US 30-year have emerged after tagging 5%
There was a less-than 20 minute window where investors could get risk-free US dollar yields of 5% for 30 years.It was the first crack at 5% long-term yields since 2007 and is a life-saver for insurance and pension managers. It looks like they took full advantage as...
British Pound (GBP) Latest: GBP/USD Boosted by PMI Beat, Can It Hold?
GBP/USD Analysis and ChartUK data helping to underpin Sterling.US dollar nudging lower but bond yields remain near multi-year highs.Download the Brand New British Pound Q4 Guide Below Recommended by Nick Cawley Get Your Free GBP Forecast Get My Guide The final UK...
Kickstart your FX trading on October 4 with a technical look at EURUSD, USDJPY and GBPUSD
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. Below is a verbal summary of the video details:EURUSD: The EURUSD is higher on the day, and moved to a new high after the week...
Cable climbs 100 pips as the US dollar slumps following ADP employment data
The US dollar is broadly weak today as yields give back some gains following a weaker ADP employment report. The US added 89K private jobs in September, lower than the 153K consensus.The market is struggling to figure out what's happening in the jobs picture after...
ADP US September employment +89K vs +153K expected
ADP employmentPrior was +177K (revised to +180K)Details:small (less than 50 employees) +95K vs +18K priormedium firms (500 – 499) +72K vs +79K priorlarge (greater than 499 employees) -83K vs +83K priorChanges in pay:Job stayers 5.9% vs 5.9% priorJob changers 9.0% vs...
ADP US employment coming up next
Yesterday's strong JOLTS report has put the US jobs market back in the spotlight and that will continue through Friday with non-farm payrolls. First though, we get the private reading from ADP, with the consensus at 153K new jobs, down from 177K in August.US...
The GBP is the strongest and the NZD is the weakest as the NA session begins
The strongest to the weakest of the major currenciesAs the North American session begins the GBP is the strongest of the major currencies while the NZD is the weakest. The USD is weaker as yields have dipped a bit in trading today. That did not come before the 30-year...
Nasdaq Composite Technical Analysis – Key moment for the index
Yesterday we got another strong US jobs report as the Job Openings data beat expectations by a big margin. Coupled with the last week’s beat in Jobless Claims and this week ISM Manufacturing PMI, the market is starting to lose faith in a quick return to lower interest...
ForexLive European FX news wrap: Dollar gains abate as Treasury yields surge eases off
Headlines:Markets:GBP leads, NZD lags on the dayEuropean equities higher; S&P 500 futures up 0.1%US 10-year yields down 1.5 bps to 4.787%Gold up 0.1% to $1,824.08WTI crude down 2.0% to $87.47Bitcoin up 0.7% to $27,580As we got into European morning trade, yields...
GBPAUD: UK Services PMI at eight-month low in September
Following the publication of a significant improvement in the UK PMI for September, there was a significant slight increase in the value of the Pound sterling against the Euro and Dollar, signalling that the economy’s performance was not as bad as expected. The...