In the kickstart video from earlier today, I highlighted the key levels in the GBPUSD. On the downside the 1.3265 was key support. Looking at the GBPUSD price action since then (see chart below), the low price for the day came in at 1.32676, just 2 pips short of the targeted support. So the buyers
Month: September 2024
Shares of Intel are trading up 5.82% after reports from the WSJ that Qualcomm approached the company about a takeover in recent days. The shares of Intel are down in 2024 from an end of year closing level of $50.25. The current price is up $1.23 or 5.82% at $22.37 in volatile trading . The
Oil prices settled lower on Friday but recorded a second straight week of gains, garnering support from a U.S. interest rate cut and a dip in U.S. supply. Brent futures settled down 39 cents, or 0.52%, at $74.49 a barrel. U.S. WTI crude futures settled down 3 cents, or 0.4%, to $71.92. Signs of a
Federal Reserve (Fed) Board of Governors member Michelle Bowman clarified on Friday why the policymaker voted against the Fed’s 50 bps jumbo rate cut this week. Fed Governor Waller goes down in the books as the first Fed Governor to vote against both the consensus and the Fed Chair since 2005. Key highlights I agreed it was appropriate
The NASDAQ index is down -100 points or -0.55%. The prices back down testing the low price from yesterday near 17909.75. Early today, the price fell below that level on its way to fill the gap from Wednesday to Thursday ( i.e the high from Wednesday). Buyers came in near the level and pushed the
The major US stock indices are closing the day with mixed results. It was triple witching hour so there was some end-of-day volatility, that could have impacted the price action. At the ending bell, the Dow industrial average is closing higher. The broader S&P and NASDAQ indices are closing lower. They small-cap Russell 2000 was
Indian Railway Finance Corporation Share Price 161.43 04:01 PM | 20 Sep 2024 6.19(3.99%) Suzlon Energy Share Price 83.45 03:59 PM | 20 Sep 2024 2.49(3.07%) Indian Renewable Energy Development Agency Share Price 232.37 03:59 PM | 20 Sep 2024 2.37(1.03%) Tata Motors Share Price 970.85 03:59 PM | 20 Sep 2024 3.86(0.4%) YES Bank
Mexican Peso continues to weaken, recording losses for three consecutive days amid increasing risk aversion. Fed Governor Waller supports the recent 50 bps rate cut, pointing to easing inflation and hinting at further cuts if labor conditions deteriorate. Banxico anticipated to lower rates by 25 bps next week, potentially sustaining an appealing interest rate differential
Sterling climbed broadly today, fueled by unexpectedly strong UK retail sales data that more than compensated for the lackluster consumer confidence report. Despite ongoing high interest rates and persistent inflation, British consumers appear to be resilient, continuing to spend. This bolsters the position of hawkish members within the BoE’s MPC, who may push harder for
Earlier today, in the kickstart video, I outlined the following key support level for the EURUSD. That level was shown and outlined between 1.1131 and 1.11399. Here is that clip…. So what happened? Below is the chart of the price action today. Of not is the low price stalled between the level outlined in the
The economic data today was focusing Canada where retail sales rose by a higher-than-expected 0.9% but you should prices were lower than expectations. In the US, two-days after the FOMC rate decision to cut rates by 50 basis points, Feds Waller – normally a more hawkish member – spoke on CNBC. His comments were thought
Oil prices ticked lower on Friday but remained on track for a second consecutive week of gains, drawing support from a large cut in U.S. interest rates and declining U.S. stockpiles, Brent futures were down 34 cents, or 0.45%, at $74.54 a barrel at 12:10 p.m. EDT. U.S. WTI crude futures fell 1 cent, or
The US Dollar further consolidates on Friday after weakening further on Thursday. Traders have devalued the US Dollar a touch, amidst the Bank of Japan and Bank of England’s decisions to keep rates on hold. The US Dollar Index falls outside its tight bandwidth, a sign that could dive lower next week. The US Dollar (USD)
Global markets continues to a wave of risk-on sentiment today, with Japan’s Nikkei leading the charge in Asia. The index maintained its gains after BoJ decided to keep interest rates unchanged, a move that was widely anticipated. This positive momentum stems from the strong performance of US equities overnight, as DOW and S&P 500 closed
Fundamental Overview On Wednesday, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of an “insurance” cut with the dot plot showing two more 25
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
Gold October futures contracts at MCX opened flat today at Rs 73,502 per 10 gram, which is up by 0.09% or Rs 64 while silver December futures contracts were also trading flat at Rs 90,055/kg, up by 0.1% or Rs 87. Gold prices have surged by Rs 450 per gram in the last 2 days
Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank’s Monetary Policy Committee’s interest rate decision is scheduled for release on Sept. 19. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Thursday said it would hold interest
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