The USDCAD has been trading up and down over the last few days of trading. The volatility intensified today with a move lower into retracement and swing area support, followed by a move higher into swing area resistance, followed by another move lower into the same retracement and swing area support as the initial move
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
Oil prices rose in early trade on Friday, as players took stock of the U.S. Treasury secretary’s comments that the country’s economy is likely in a stronger position than indicated by weak first-quarter data, coupled with supply concerns as conflict continues in the Middle East. Brent crude futures gained 34 cents, or 0.38%, to $89.35
Japanese Yen’s accelerated decline captured significant attention in Asian session, while the broader currency markets remained generally stable. Market participants interpret the apparent lack of urgency from Japanese officials to address Yen’s fall as a tacit approval for its continued depreciation. This perspective gains significance following the recent trilateral meeting between Japan, South Korea, and
U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and inflation, according to the department’s
In this article SNAP META Follow your favorite stocksCREATE FREE ACCOUNT Snap reported first-quarter results on Thursday that beat analysts’ estimates and showed a return to double-digit revenue growth. Shares soared more than 25% in extended trading. Here’s how the company did: Earnings per share: 3 cents adjusted vs. a loss of 5 cents expected
EUR/JPY surges to levels not seen since August 2008, capitalizing on a broader Yen weakness. Technical indicators suggest potential for further advances after clearing resistance at 165.30, towards the 169.47 high of August 2008. Downside risks remain once EUR/JPY retreats below the recent high of 166.22. The Euro rallied to a near 16-year high against
The EURUSD fell after the higher than expected inflation data from the US GDP report. The fall took the price back below the 38.2% retracement 1.0709 and down to test its rising 100 hour moving average at 1.06786. Support buyers leaned against that moving average level, and have pushed the price back to the upside.
The fallout from today’s first look at Q1 GDP continues to reverberate with the US dollar stronger and equities weaker because of hot inflation numbers. Goldman Sachs highlights that the composition of growth wasn’t as soft as the headlines (+1.6% vs +2.4% exp). “The contribution from inventories (-0.4pp vs. GS +0.2pp) and foreign trade (-0.9pp
Gold June futures contracts on Thursday fell Rs 352 or 0.05% to open at Rs 70,700, while Silver May contracts opened at Rs 80,046, 0.56% or Rs 451 lower. Gold prices remained stable after a recent decline, with the focus now on upcoming U.S. inflation data which is expected to influence future monetary policy decisions
Risk sentiment took a sharp downturn following the release of US Q1 GDP data, which revealed weaker-than-expected economic growth alongside an acceleration in both headline and core PCE price indexes. This combination suggests that the US economy may be caught in a challenging cycle where high interest rates are dampening economic activity without effectively curbing
In this article CMCSA Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration, Comcast Corporation logo seen displayed on a tablet. Igor Golovnov | SOPA Images | Lightrocket | Getty Images Comcast will report its first-quarter earnings before the bell on Thursday, and Wall Street will be keeping an eye on subscriber on both
The Japanese Yen continues losing ground amid the divergent BoJ-Fed policy expectations. The recent intervention warnings by Japanese authorities do little to provide any respite. Traders now look to the US Q1 GDP report for some impetus ahead of the BoJ on Friday. The Japanese Yen (JPY) extends its weakening trend further below the 155.00
In the morning kickstart video, I spoke to the support near the 200 hour MA and the swing area, and if that level held, the need to get and stay above the 38.2% of the April trading range. Well those levels have defined the range in the US session (give or take a couple pips
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
Oil prices eased in early trade on Thursday as concerns about a potential slowdown in the U.S. economy amid prospects for delayed interest rate cuts outweighed worries over the risk of expanding conflict in the Middle East. Brent crude futures dipped 9 cents, or 0.1%, to $86.95 a barrel at 0024 GMT, and U.S. West
Australian Dollar is having a robust, broad-based rally today, boosted by unexpectedly strong CPI data. This inflation report is particularly notable given the unexpected reacceleration in monthly CPI in March, which contributed to the quarterly figure not slowing as much as anticipated. Meanwhile, both services and domestic inflation remain elevated. The set of data is
US Federal Reserve Board Chairman Jerome Powell arrives to testify at a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report,” on Capitol Hill in Washington, DC, March 6, 2024. Mandel Ngan | Afp | Getty Images With the economy humming along and the stock market, despite some recent twists and
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