In the minutes after the crash in the USDJPY earlier today, the low reached 148.51 not once but twice (see green numbered circles one in 2 in the chart below). USDJPY low after crash reached 148.51.However, when you look at the hourly chart, you don't see those lows...
The market is now pricing in just 59 bps in Fed cuts next year
I continue to believe that the main driver of the bond crunch in the past few weeks is the market pricing in a higher-for-longer Fed scenario and a new regime where US rates range from 3-6% in the cycle.Along those lines, I'm carefully watching what the market is...
This is why the US is faring so much better than elsewhere in the rate hiking cycle
Here is a great chart from Deutsche Bank showing the changes in effective mortgages rates across various economies.I think that's the key chart to understanding what's happening in the global economy this year and in the foreign exchange market. Rate hike simple...
US crude oil futures settle at $89.23
The price of WTI crude oil futures are settling at $89.23. That's up $0.41 or 0.46%. The low for the day reached $87.76. The high was at $90.27.Crude oil is closing up $0.41 todayTechnically, looking at the hourly chart, the low today fell below a swing area between...
AUDUSD trades to a new session low and cracks below trendline support
AUDUSD falls below trendline supportThe AUDUSD is trading to a new session low and in the process is moving below the downward-sloping trendline on the daily chart near 0.6297. The next target on the downside comes in at 0.62717. That level is the low going back to...
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https://www.youtube.com/watch?v=jS4bvUu_qcs ‘제3차 기초생활보장 종합계획(2024~2026)’이 발표됐습니다. 바로 내년부터 달라지는 내용부터 지원금액 인상, 지원대상 확대, 기준 완화 등 앞으로 3년 동안 달라지는 다양한 제도개선 내용들을 간단히 정리해 드립니다. #기초생활보장제도 #정부지원 #복지제도 MoneyMaker FX EA Trading...
HSBC: 4 reasons to stay bearish on AUD/USD following the RBA’s hawkish hold
AUDUSD dailySynopsis:HSBC has reaffirmed its bearish stance on AUD/USD, highlighting the pair's underperformance over the past three months. Despite the RBA's hawkish hold on rates, the AUD faced downward pressures, notably from a strong USD and gloomy risk sentiment....
Nasdaq continues to sink, eyes on 13,000 as it falls 2%
The month started yesterday with something of an unusual move in the Nasdaq as it bucked a broad selloff in global equities. Drilling down further into the movers, a picture became clear.Money appeared to be pouring into the same select few names that have been...
USDJPY spending more time back above the 200 hour MA
The USDJPY spiked higher to 150.154 after the JOLTs job data, then tumbled nearly 285 pips in seconds, testing the swing low going back to September 21 in the process. Ghosts of a Bank of Japan intervention was the excuse.The snapback higher then took the price back...
Fed’s Bostic: Higher long-end rates matter if they slow growth too much, no sign yet
Fed's BosticHigher long-term rates not impacting business beyond what would happen in a normal tightening cycleSays he sees the next move as a single quarter-point rate cut late next yearSees inflation approaching 2% target by end of 2025Still 'work to do' but...
Metacade Announces Breakthrough Collaboration with Polygon Labs
Metacade, the world’s first community-led gaming platform, has confirmed a collaboration with Polygon Labs, focused on driving user acquisition, testing and the adoption of 100’s of new games and customers on the Polygon protocols. The move opens up the brand to a...
USDCAD buyers push higher for the 3rd day in a row. Breaking above swing areas.
The USDCAD is working on it 3rd day in a row with sharply higher prices. Today the price is moving above the high of a swing area on the daily chart near 1.37042. That break is bullish. USDCAD on daily chart is making a break for it.On a shorter hourly chart, the...
European equity close: The DAX breaks below the summer lows
It was the second ugly day in a row and that was enough to send the German DAX through the summer lows.Closing changes:Stoxx 600 -1.1%German DAX -1.0%Francis CAC -1.0%UK's FTSE 100 -0.5%Spain's IBEX -1.65%Italy's FTSE MIB -1.3%There isn't much support below:DAX...
Broader stock indices sharply lower. What next technically?
The JOLTs job openings sent yields higher once again. The 10 year yield is up to 4.776% now up 9.4 basis points. There is no relief in the US debt market. That has stopped moving sharply lower. Looking at the hourly chart of the S&P index below, the broad index is...
Fed’s Mester: Says she’s likely to favor hike at next meeting if current situation holds
Likely to favor hike at the next meeting if the current economic situation holdsLong-term yield rise will affect mon pol outlookFed likely at or near peak for interest rate targetHigher long-term rates will moderate growthYields up on a number of factors, including...
Japan senior MOF official asked about intervention: No comment
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,...
New Zealand GDT price index +4.4%
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,...
Do you need to get caught up on the price action in the currency markets? Watch and learn.
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,...
Global stocks hit hard as JOLTS catalyze interest rate fears
Over the past week, the US equity market has been surprisingly immune to the run higher in bond yields but today's move might have cracked that sentiment.10-year Treasury yields are up 6 bps to 4.74% and it's come with a fundamental backing this time as the JOLTS...
US yields moving higher after the surprise JOLTS data. US dollar higher. Stocks lower.
The surprise spike in the JOLTs job data has the markets moving. US yields are moving higher with the 10 year yield now up 5.6 basis points at 4.738%. The 30 year yield is up 6.8 basis points to 4.863%. The 2-year yield which was lower before the report is now higher...