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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Both the US and Canadian jobs report will released today. In the US, the market is breathing a little sigh of relief in that the numbers weren’t as weak as last month. The unemployment rate did tick down to 4.2% from 4.3%. In Canada, the unemployment rate moved higher 26.6% which was a highest level
WTI crude is still clinging to support but the picture is looking increasingly dire for brent. The global benchmark closed today at the lowest since December 2021. There have been a series of daily lows right around these levels and there are intraday lows that are worse since 2021 but this is the lowest daily
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The NASDAQ index is trading to a new session low and to the lowest level going back to August 12. The move to the downside is off of mixed/weaker US jobs report. The nonfarm payroll rose less than expectations (142K vs 160K estimate) with the prior months being revised lower by 86,000 as well. The
On Friday, shares of Nvidia fell 4% and chipmakers dragged the Nasdaq to its lowest in the three weeks. One reason for the sell-off was a Goldman Sachs note from Peter Oppenheimer arguing that traffic to ChatGPT was plunging. Goldman published this chart, which was later widely circulated (including in the Financial Times). It showed
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The USDCAD has moved to a new high and reach the next technical target at 1.35535 (see, mom months absent concepts and). THe price has not been above that moving average since August 7 nearly one month ago. A break above that level would have traders looking toward its 200-day moving average of 1.35880. Earlier
None of how the market is acting today in reaction to the lack of a strong 50 basis point signal from Waller should be a surprise. Here is what I wrote back in June: It’s been awhile since we’ve had a ‘normal’ rate cutting cycle so it’s worth a reminder about what happens and what
There is an undercurrent in economic circles right now and it basically boils down to: The Fed should cut 50 bps but it will probably cut 25 bps. Rick Rieder from BlackRock was on Bloomberg earlier today making that point and CIBC touches on it in their review of the non-farm payrolls report, which they
The NZDUSD has moved higher. It is now moving lower in volatile trading as it digests the US jobs report and comments from Fed officials this morning including Feds Waller, Feds Goolsby, and Feds Williams. Stocks are moving lower which is leading to some risk off in the NZDUSD as well. Technically, the pair is
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The good news is that the garrulous Federal Reserve speakers will be restrained over the next fortnight, the bad news is that the talk and speculation about the FOMC won’t stop. It looks like we’ve heard the final word from the FOMC and the backout starts at midnight ET. We’re left with a market pricing
The USDJPY has seen up and down volatility after the US jobs report and subsequent market volatility. The tumble in US stocks and move lower in yields may have an influence as well as sellers pushed the price lower. Technically however, the low price today at 141.75, 10 apex of the low price from August
Markets: Gold down $20 to $2496 US 10-year yields down 1.4 bps to 3.72%, 2-year yields down 9.3 bps to 3.65% WTI crude oil down $1.07 to $68.08 S&P 500 down 1.7% JPY leads, AUD lags Non-farm payrolls Friday lived up to the hype, though it wasn’t exactly straightforward. The kneejerk reaction to the report
Critical challenge is: Not letting things turn into something worse If you look at the Beige Book, you can’t look at it as exciting, if anything it was a fair bit downbeat It suggests there are warning signs on the economy You only want rates to be this high as long as you have to
AUD/USD daily The Australian dollar chart has caught my attention today as it falls 76 pips, or 1.1%. It’s the underperformer today as the US dollar strengthens broadly and risk trades are beaten up. A week ago, it looked like it could be breaking out as it touched the highest since January but the market
It’s been a ride today between a mixed non-farm payrolls report and Fed commentary. With the cards now all on the table, the market is shifting away from 50 basis points. Odds are down to 23% from as high as 57% in the immediate aftermath of the jobs report. At the same time, there are
There are a couple to take note of, as highlighted in bold. The first ones are for EUR/USD at the 1.1100 and 1.1150 levels. They are likely to help sandwich price action as traders wait on the US jobs report later in the day. And that is just that, markets are all fixated on the
The NFP is at 1230 GMT / 0830 US Eastern time: Goldman Sachs on what its gonna take from NFP for a 50bp interest rate cut from the FOMC What would it take from non-farm payrolls to get a 50 basis point cut? Preview: Why August non-farm payrolls frequently disappoint What would it take from
Fundamental Overview Gold has been rallying steadily this week since bouncing from the bottom of the recent range. The soft US Job Openings on Wednesday gave it the tailwind to push into the key resistance around the 2530 level. This move has been driven by falling real yields as the softer US data caused the
The angst in markets is certainly showing up early today. S&P 500 futures are now down 0.7% and Nasdaq futures down 1.2%. This comes as bond yields are dipping, with 10-year yields in the US falling to below 3.70% – down 3.8 bps on the day. It’s all positioning flows ahead of the US jobs
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Broadcom will announce earnings after the close. What is expected? EPS $1.22 Revenues $12.979 THe price of Broadcom – like other chip stocks – has been hit over the last few weeks of trading. From the high on August 22 and $172.42, the price has move down to a low of $149.15 reached just yesterday.
Reuters with the info from Citi following the OPEc announcement earlier: “We see the OPEC+ unwind delay and ongoing geopolitics and financial positioning providing price support at $70-72 Brent” We recommend selling on a bounce toward $80 Brent, as we look ahead to moves down to the $60 range in 2025 as a sizeable market
Most companies have reported their earnings for the past quarter; overall, things look pretty solid. Despite a few big tech disappointments, market sentiment has stayed upbeat—things keep climbing. There’s strong optimism and ongoing demand for riskier assets, and any dips in the market are quickly bought up. When fear does hit, it’s more about shifting
Investment mistakes are always expensive, which is why it’s best to learn from the experiences of others. With that in mind, here are the top ten tips that most investors really wish they had heard (and believed) sooner. 1. Start Early The power of compounding means that the sooner you start investing, the more time
The poll shows that 64 of 77 economists (~85%) predict the ECB will cut rates by 25 bps at next week’s meeting and then again in December. Four other respondents expect just one 25 bps rate cut for the remainder of the year while eight are seeing three rate cuts in each remaining meeting. In
Uh-Oh! The rise in the NASDAQ index today took the price to a high of 17295. That also extended briefly above its 200-hour moving average at 17284.26 (at the time – the current level is a little lower at 17281.12), but the momentum quickly reversed and traders started to use that moving average line as
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
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