Month: September 2018

Forex news for North American trade on September 26, 2018: Markets: Gold down $6 to $1195 WTI crude down 29-cents to $71.99 US 10-year yields down 5 bps to 3.05% S&P 500 down 10 points to 2905 JPY leads, CAD lags The Fed kept things in check for most of the leadup to the decision.

In this series we scale-back and take a look at the broader technical picture to gain a bit more perspective on where we are in trend. The Canadian Dollar rallied to a 15-week high against the US Dollar last week (USD/CAD lower) with a near-term recovery in price likely to offer opportunities in the days

US Dollar Talking Points: – The US Dollar has continued to hold the Q3 lows around 93.86, and current resistance appears to be holding from around last week’s swing lows in the 94.33 vicinity. Today brings the Federal Reserve’s September rate decision, and a hike has been long-expected here; to the point where it’s likely

British Prime Minister Theresa May recently crossed the wires to reiterate that they were not seeking a partial membership of the single market. There was no market reaction to this comment and the GBP/USD was last seen trading at 1.3165, where it was down 0.1% on the day.

EUR/USD edges below support Any time there’s a big event on the calendar a few hours away, there is trepidation in the market. This isn’t any kind of monumental FOMC decision but a hike is coming and the market is looking for some hints on the path of interest rates in 2019. So it’s not

Trade war tensions are taking a break and Chinese stocks are rallying for as much ground as they can. Elsewhere across Asia, the good mood is continuing to a lesser extent, and investors are buckling down for the upcoming FOMC rate call. Asian equities are generally on the upside for Wednesday, recovering ground after falling

According to a report by Sky News This only adds to the strain between the coalition government and finance minister Giovanni Tria ahead of the unveiling of the draft fiscal plans tomorrow. Five-Star leader Luigi Di Maio is set to appear in parliament later today at 1330 GMT so keep an eye out on that.

GOLD & CRUDE OIL TALKING POINTS: Commodity prices stall as all eyes turn to FOMC policy announcement Gold prices may fall as anti-fiat appeal fizzles amid US Dollar rebound Crude oil prices vulnerable if EIA inventory data echoes API projection Commodity prices marked time in Tuesday trade, with investors seemingly unwilling to commit to a

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In a market wrap, analysts at ANZ Bank New Zealand Limited explained that the trading direction lacked conviction overnight with US President Trump sounding relatively composed at the UN General Assembly.  Key Quotes: “US equities were slightly weaker (Dow -0.2%, S&P 500 down 0.1%) with EU shares generally higher (FTSE 100 +0.7%). Energy shares rose with

In this series we scale-back and take a look at the broader technical picture to gain a bit more perspective on where we are in trend. Crude oil has rallied more than 11% off the August lows with prices now approaching topside resistance targets. Here are the key targets & invalidation levels that matter on

Analysts at Nomura expect a healthy reading of 133.0 for Conference Board’s consumer confidence index for September, mostly unchanged from August. Key Quotes “The University of Michigan survey indicated continued optimism with improvement in buying plans for autos and household durable goods. The strong labor market has remained supportive for consumer confidence despite escalating trade

Trump, Consumers, manufacturing and housing on the agenda The two-day FOMC meeting starts today and policymakers will be sure to check on a few releases out today. It’s a slow start with nothing at the bottom of the hour, but picks up later. Here’s the quick rundown: 1300 GMT (9 am ET) – FHFA house

Analysts at Nomura point out that the Japanese Prime Minister Shinzo Abe and others from the government and Cabinet have been making remarks suggesting a change of position on the “exit” from the Bank of Japan’s monetary easing and on the 2% price stability target. Key Quotes “In response, expectations have grown that the BOJ

Comments by senior Chinese diplomat, Wang Yi US-China confrontation means both sides lose Talks with US should be based on equality, sincerity China is willing to resolve trade imbalance with US via dialogue China does not deliberately pursue trade surplus with the US Latest round of US tariffs shows lack of sincerity in resolving trade

GOLD & CRUDE OIL TALKING POINTS: Gold prices remain stuck in choppy range, eyeing Fed policy decision Crude oil prices hit 2-month high after OPEC withholds output boost API inventory flow report on tap as lead-in for official EIA statistics Gold prices continued to echo swings in the US Dollar, with an inconclusive Monday session