AI image The bull case for TSLA stock among many is solving full-self driving. The dream is cars that run on autopilot, like a taxi but without a driver. If it’s cheap enough, it would eliminate the need for many people to even have cars. It’s certainly been a dream of Elon Musk for a
Month: May 2024
Dow Jones gains 400-plus points as investors raise bets on rate cuts. US data broadly softer on key labor print. Tech stocks dragging Dow Jones higher. The Dow Jones Industrial Average (DJIA) climbed 1.15% on Friday after a broad miss from US Nonfarm Payrolls (NFP) and other key labor data revealed a steep weakening in
The EURUSD moved sharply higher after the US jobs report, and in the process extended above the 50% midpoint of the move down from the March high and also the 200-day moving average (at 1.0797 currently). The price did extend above those levels and the high of a swing area up to 1.08036. but failed.
The USDCAD moved lower after the softer-than-expected US jobs report. That move to the downside stalled against an old ceiling area between 1.36049 and 1.36154. The price started to rebound back to the upside. The move back higher was able to extend back above the 50% midpoint of the April trading range at 1.3661. That
The AUDUSD moved sharply higher after the US jobs report. The price rises took the pair above the 100 day MA at 0.6580, the 50% of the move down from the December high at 0.66159 and up to the a key swing area ceiling between 0.6335 and 0.6345. Sellers leaned against that ceiling and have
The USDCHF fell below the 200 bar moving average on the 4-hour chart near 0.9070, and tumbled down to the lope from April and a low swing area near 0.8997 and 0.9005. Buyers came in against that level and have since pushed the price back up toward the aforementioned 200 bar moving average. If sellers
The S&P 500 has been consolidating around the 5000-5100 range for more than two weeks now with the market awaiting the key US data as it’s getting more and more wary of the inflation risk that could lead to more tightening. The more dovish than expected Fed’s decision and Powell’s press conference led to a
If you go and ask any successful trader or investor what’s the most important thing in trading, he/she will tell you that it’s capital preservation. In fact, the hardest part in the markets is not making money, it’s being able to keep it, and over the long term increase it. How many times have you
The recent decision by the Federal Open Market Committee (FOMC) to keep interest rates steady has ignited a wave of speculation in financial markets. Federal Reserve Chair, Jay Powell, provided insights into the current state of the US economy and its trajectory. However, market reactions have been characterized by initial unease, followed by fluctuating sentiments,
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
EUR/USD approaches 1.0750 as the US Dollar weakens ahead of crucial US economic data. The ECB is widely anticipated to start reducing interest rates in June. The Fed sees rate cuts this year despite little progress in disinflation in the first quarter. EUR/USD advances to 1.0740 in Friday’s European session. The major currency pair strengthens
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
Pantera aims to introduce crypto to the masses with investment in TON blockchain. The TON blockchain has received significant recognition among crypto investors following recent partnerships and integrations. TON could see a rally following Pantera’s recent investment. Ton (TON) blockchain could see more growth in the coming months after investment firm Pantera Capital announced a
S&P index trades between 50 and 100 day MAs The S&P index is trading higher and near session highs. The current price is up 36 points at 5054.25. The high for the day reached 5058.01. That puts the price near the middle between key day MAs. On the downside, is the 100-day MA at 4979.26.
AI image What’s expected: Consensus estimate +243K (range +150 to +280K) Private +190K estimate vs +232K prior February +303K Unemployment rate consensus estimate: 3.8% vs 3.8% prior Participation rate: 62.7% prior Prior underemployment U6 7.3% Avg hourly earnings y/y exp +4.0% y/y vs +4.1% prior Avg hourly earnings m/m exp +0.3% vs +0.3% prior Avg
The EURGBP has been moving up and down for most of 2024. Last week, the buyers broke higher and in the price extended above the 200-day MA and the 50% of the move down from the December high near 0.8606 area. Momentum last week sent the price to 0.8643 before rotating back to the downside
Fed Chair Powell signals inflation still remains high despite significant easing, suggesting an uncertain path forward. Powell acknowledges that strict monetary policy has balanced both inflation and an overheated economy, leveling dual goal risks. Weekly Initial Jobless Claims came in steady. The US Dollar Index (DXY) is trading mildly higher at 105.80. The Greenback’s modest
The 2024 Bitcoin halving, which crypto investors have been expecting for four years, has been finalised. The reward per block has been reduced from 6.25 BTC to 3.125 BTC. The next cut will occur in 2028, with the reward reduced to 1.5625 BTC. The ultimate 64th halving will occur around the year 2140, which will
Yesterday, the Fed left interest rates unchanged at 5.25-5.50% as expected but delivered some dovish surprises compared to the hawkish expectations. In fact, although the recognized the recent slowdown in the disinflationary progress in the statement, they also signalled a bigger than expected QT tapering on Treasuries (from $60 billion to $25 billion vs. $30
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 Mexican Peso rises as market sentiment lifts following the Federal Reserve meeting on Wednesday. Despite acknowledging inflation remained sticky, the Fed’s Chair Jerome Powell described the need for higher interest rates as “unlikely”. The Fed’s decision to reduce its Treasury holdings at a slower pace was taken by markets as a mildly dovish move,
On the 1st of May, 2024, FXIFY™ celebrated its 1-year anniversary, marking a significant year of growth and milestones. In their debut year, FXIFY paid over $8,700,000 to their funded traders, facilitated over $1.7 trillion in trading volume across challenge and funded accounts, and had over 80,000 account signups. This momentum reflects FXIFY’s unique approach
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
USD/CAD loses ground near 1.3730 on the softer USD on Thursday. The BoC Governor said the central bank is “getting closer” to rate cuts. The Fed has not changed its key interest rates and expressed more caution than previously about possible interest rate cuts. The USD/CAD pair extends its downside around 1.3730 during the early Asian trading
The USDJPY broke below the 100-day moving average and scooted all the way down to the 200-hour moving average at 155.98. The price moved below that moving average on its way to a low price of 155.793 before bouncing back to the upside. Recall from Monday’s trade after the intervention, the price also moved below
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
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
Dow Jones stuck near recent lows as Fed looms. Equities are mixed as markets await Fed policy guidance. NFP Friday will solidify market outlook on US labor market. After this week’s backslide, the Dow Jones Industrial Average (DJIA) is stuck in a rut, dragging the index below 38,000.00 as investors buckle down for another rate
The Israel retaliation really marked the top for Gold as the geopolitical risk faded and the market caught up with the rise in US real yields. The trend might be reversing and some key technical breaks are adding up to the chances of seeing a big correction to the downside. Looking ahead, the bears will
The European Session is dull today as we have the Labour Day’s Holiday. Things will get much more interesting in the US Session as we get some key US economic data and then we finish the day with the FOMC rate decision. Let’s break down the upcoming data releases and see what could be the