The AUDUSD moved lower a week ago on the stronger-than-expected US jobs report. However, the price remained above its 200 bar moving average on the 4-hour chart (green line on the chart below). It wasn’t until Monday that the price broke below that level (currently at 0.6779) and ran lower. The low price initially stalled
The USDCAD has been trending to the upside since bottoming on October 2 near 1.3472. The momentum over the last eight trading days has taken the price up to a high of 1.37826. That took the price to the low of the next swing area target between 1.3784 and 1.38036 (going back to April 2024
A week ago today, the USDCHF made a break to the upside and out of the “Red Box” that had confined the pair going back to August 20. The US jobs report was the catalyst for the move higher, but by Monday, the price fell back to the high of that “red box” and even
It’s a mixed bag of consumer price data, with the annual inflation rate continuing to cool in September, reaching its lowest level in three years, though the report was slightly hotter than expected. The Labor Department reported on Thursday the consumer price index (CPI) — a broad measure of the cost of everyday items —
Amidst a global stock market resurgence, EBC Financial Group (EBC) is enhancing liquidity for five major stock indices, including the U.S. Dow Jones, Nasdaq, S&P 500, the A50 (China), and the Hang Seng Index (Hong Kong). This strategic move aims to provide investors with more optimised, efficient trading across all global sessions by reducing trading
The US PPI data came out and showed the YoY higher than expectations (but the headline was lower than the revised higher level), but the MoM data was more tame. The short end of the yield curve is a little lower. The long end, not so much. The US stocks are steady but lower on
USD/CAD surrenders some of its intraday gains after the US and Canada data. The Canadian employment data showed that job demand remained robust and the jobless rate decelerated. The US headline PPI remained flat, while the core producer inflation grew expectedly by 0.2% in September. The USD/CAD pair gives up some of its intraday gains
Fundamental Overview Yesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction. The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the
Fundamental Overview Yesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction. The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the
Fundamental Overview Yesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction. The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the
EUR/USD daily chart There is a light extension to the narrow range today with the pair now clipping 1.0950. That being said, it is still keeping within a ~23 pips range only for the day. There are some large option expiries as well at 1.0930 and 1.0950 that should likely keep price action locked, before
IC Markets is excited to announce the launch of the highly anticipated fifth season of IC Your Trade (ICYT), produced in collaboration with Bloomberg Media Studios. This season brings a sharper focus on the latest market developments, offering traders timely insights to navigate the expected volatility in today’s dynamic financial landscape. Amid growing global uncertainty,
Fundamental Overview Yesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction. The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the
FX option expiries for Oct 11 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.0880 833m 1.0900 1.4b 1.0930 1.6b 1.0950 1.5b 1.0960 912m 1.1000 3.2b 1.1045 1.4b 1.1050 1.2b 1.1100 1.1b USD/JPY: USD amounts 148.00 1b 149.00 405m 150.00 595m 150.10 645m AUD/USD: AUD amounts 0.6670 594m 0.6765 753m 0.6800
Info via Reuters – IKEA calls for more China stimulus as sales slip IKEA urges China to deploy further economic stimulus China accounted for 3.5% of Ingka Group’s global sales, down from 3.6% IKEA opened new Shanghai store in September, now has 39 stores in China Price cuts helped boost sales China unveiled aggressive monetary
Gold edges bouncing from a daily low of $2,603 after US inflation data showed a slight increase, tempered by weaker jobs figures. The swaps market now expects the Fed to cut rates by 25 bps at the November meeting, boosting Bullion prices. Fed officials, including Austan Goolsbee and John Williams, hinted at gradual rate cuts,
The AUDUSD fell to – and through the 38.2% retracement of the move up from the August low at 0.67146 late yesterday, but bounced higher in the Asian session today. The high price in the Asian session extended up to 0.67417 which was just short of the low of a swing area 0.67429. The subsequent
Brent daily chart Chinese markets improved today after Beijing’s finance minister teased a Saturday briefing on potential economic measures. That’s helped to boost global growth trades including oil but if you look around markets, the other things correlated to growth aren’t nearly a strong as oil. Brent crude is up $3 to $79.60 in a
If you are confused about the price action, you are not alone. However, technicals often tell the story of the price action, and if you can think of the price action as the dilemma buyers and sellers are facing, that story becomes more clear. IN the NZDUSD, we know the 61.8% was support. I talked
GBP/CAD rises back above an old trendline and extends its rally. The pair extends its rally within a medium and long-term rising channel. GBP/CAD looks like it has bottomed out and is once more rising within a broader rising channel. The pair was falling in a down leg, however, it has probably reversed and started
As the NA session begins, the NZD is the strongest and the CAD is the weakest of the major currencies. The USD is sitting near the middle of the range of currencies with a modest downward bias before the release of the key CPI data at 8:30 AM ET. The expectation is for a gain
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
Bitcoin (BTC) is grabbing attention with new whale transactions and rising ETF inflows. Recently, over $100 billion has been poured into Bitcoin by large players, known as whales. Could this mean a new price rally for BTC? In this article, we’ll break down how these inflows might change the market, whether now is a good
Gold price bounces off a multi-week low, though the uptick lacks bullish conviction. Bets for a 25 bps Fed rate cut in November underpin the US and cap the XAU/USD. Investors now look to the release of the US CPI report for a fresh directional impetus. Gold price (XAU/USD) struggles to capitalize on a modest
Later today, Thursday, 10 October 2024, we get the US consumer inflation data for September. Due at 1230 GMT, which is 0830 US Eastern time. What to expect. This snapshot from the ForexLive economic data calendar, access it here. This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most
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
Ethereum Price Today: $2,413 Ethereum price is trending toward the $2,395 support level as the 50-day SMA resistance holds strong. Vitalik Buterin could emerge as economics Nobel Prize winner based on his novel currency innovation. Ethereum exchange reserve has been trending upward as selling pressure persists. Ethereum (ETH) is trading at $2,413 on Wednesday as it
Yields in the US have moved higher with the 10-year yield now up 2.8 basis points and the 2-year yield up 3.2 basis points. In addition, the chance of no change in policy in November reached close to 25% today before rotating back down to 20%. It wasn’t long ago that the market was pricing
The NZDUSD traded to the highest level in 2024 just last week (eight trading days ago). The high price reached 0.63778. Today after they are beyond the cut rates by 50 basis points, the price low traded to 0.60516. That’s 327 pips in a trading days. Technically the decline seen in trading today has taken
USDCAD daily Seven straight days of USD/CAD gains speaks to a strong rejection of what looked like it could be a breakdown in August and September. The chart is a big of a nightmare for technical analysis as it had a break, then a lower low then a snap-back rally into the middle of the