Costco technicalsCostco shares are trading at a new record high of $1,041.57, with the next target being a topside channel trendline near $1,047. A break above this level could turn the trendline into support, opening the door for further upside potential.Looking...
Steady bids continue to support US equities but US dollar bounces
The risk trades in equities and FX are sending opposing signals late in the day.The S&P 500 has stretched to a fresh session high, up 0.3%, while the US dollar appears to have found a short term bottom. USD/CAD and USD/JPY have both climbed about 50 pips from the...
No comments on the economic outlook in comments from the Fed’s Bowman
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,...
Chip Stock Showdown: AMD, Nvidia & Broadcom Analysis
3 Chip Stocks, 3 Different StoriesAMD, Nvidia, and Broadcom are all in focus today, but their stock charts tell vastly different stories.AMD: Shares are down sharply, dropping over 7% after disappointing data center earnings were reported yesterday. This decline has...
US crude oil futures settled at $71.03
US crude oil futures are settling at $71.03. That is down $1.67 or -2.3%Looking at the hourly chart, the price on MOnday, extended above the 200 hour MA, but could not sustain momentum. Most of yesterday and today, the 100 hour MA has been resistance. Bearish. The...
US dollar at a one-week low as the trade fears fade
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,...
Fed’s Goolsbee: Ignoring supply chain impacts, like tariffs, would be a mistake
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,...
Tariff front-running is likely to play havoc with Canadian economic data
Canada today posted a trade surplus for the first time in 10 months in December, though it was slightly smaller than expected. For January, we are likely to see more of the same as shippers attempted to beat Trump's tariff deadlines.For December, Canadian exports rose...
SocGen: Short-term trade – Sell EUR/JPY
EURJPY dailySocGen sees selling EUR/JPY as the best short-term trade, given the divergence in Eurozone vs. Japan growth expectations. While USD/JPY remains strongly correlated to 10-year US yields, the broader JPY strength case is intact as US equities soften and...
NZDUSD continues the rebound started on Monday and extends above an old ceiling.What next?
The NZDUSD bottomed on Monday within pips of the low from 2022. Since then, the price has been steadily rising. Today, the price moved above what was an old ceiling area between 0.56837 and 0.56917. That area will now be close support for traders. Staying above could...
China initiates WTO dispute complaint regarding US tariff measures
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,...
S&P 500 erases loses, turns positive despite a big decline at Alphabet
Alphabet shares were a big drag on stocks earlier today and the Nasdaq remains 0.2% lower but the S&P 500 is now slightly higher ont he day after erasing a 30-point loss. That's impressive performance given that share of GOOG remain down 7.6%.The market is...
US expected to roll out Ukraine peace plan next 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,...
Japan-US summit statement to call for ‘golden age’ of ties
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,...
ECB’s Centeno: Undershooting 2% inflation is a risk if investment doesn’t improve
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 extends higher and enters swing area resistance area. Can momentum continue?
The AUD/USD is pushing to new highs, with the price now entering a key swing area target between 0.6287 and 0.63016 (see renumbered circles on the chart below). A sustained move above this range could pave the way for a rally toward the January high of 0.63310.On the...
EIA weekly crude oil inventories +8664K vs +1962K 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,...
Fed’s Barkin: Does not see rate hike as ‘close’ to the base case
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,...
USDJPY is dipping below the 200 and 100 day MAs
The weaker PMI data has helped to push the USDJPY lower. The price has now moved below its 200 day moving average at 152.778, and its 100 day moving average at 152.422 (see green and blue lines on the chart above).. The price is currently trading at 152.327.Staying...
USDCHF falls to swing area and support gives sellers some cause for pause
The USDCHF has been trending more to the downside once again after Monday's spike took the price within a few pips of the January high. Yesterday, the price fell below both its 100 and 200 hour moving averages, stalling near the 61.8% retracement of the move up from...