SPX outlook: critical levels to watch for traders and investors The SPX price index is navigating a crucial technical landscape, with several key levels and indicators shaping its trajectory. A closer look reveals resistance at 6,200, support near the anchored VWAP, and the unclosed Trump Gap at 5,780, offering actionable insights for traders and in
Month: December 2024
China’s central government has urged local authorities to provide financial aid to people facing high living costs, particularly in the lead-up to the New Year and Lunar New Year festivals. Municipalities that can afford it are encouraged to offer subsidies, temporarily reduce prices, and link social assistance to price levels, according to the Ministry of
NZD/JPY inches higher on Friday, touching 88.90 and holding recent upside momentum. MACD bars remain green but have flattened, signaling cautious optimism amid lingering downside risks. RSI moves up to 51, entering positive territory as buyers tentatively return. NZD/JPY added a modest 0.20% on Friday, climbing to 88.90 and building on the gains seen since
While UK traders celebrate Boxing Day, the GBP/USD is under pressure, falling to new session lows and extending its decline further away from the downward-sloping 100-hour moving average. The pair opened the post-Christmas trading day just below the 100-hour moving average, currently at 1.25365, and remained below it during the Asian Pacific session. As the
The European major indices are closing higher on the day. That runs counter to the moves seen in the US stock indices which are down sharply as money rebalances out of US and into Europe (at least today). The final numbers are showing: German DAX, +0.68% France’s CAC, +1.0% UK’s FTSE 100, +0.16% Spain’s Ibex,
Gold inched higher on Thursday in holiday-thinned trade, as investors focused on the U.S. Federal Reserve’s interest rate strategy and anticipated tariff policies under President-elect Donald Trump, both of which could influence the metal’s direction in the coming year. FUNDAMENTALS * Spot gold rose 0.2% to $2,619.59 per ounce, as of 0023 GMT. * Bullion
The Dow Jones lost 400 points on Friday. Holiday markets traded on the low side, Dow ended the week flat. Another midweek holiday next week will crimp market volumes. The Dow Jones Industrial Average (DJIA) shed around 400 points on a quiet Friday. Most investors are still out of the markets on holidays and thin
The major US stock indices are continuing their slide with NASDAQ now down -2.10% at 19,600. S&P is down -1.40% at 5952.00 Dow industrial average is down -0.98% at 42900.29 The Russell 2000 is down -40 24 points or -1.85% at 2239.20 US yields have started to move back to the lower after the sharp
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 edged higher on Thursday in thin holiday trading, driven by hopes for additional fiscal stimulus in China, the world’s biggest oil importer, while an anticipated decline in U.S. crude inventories also provided support. Brent crude futures rose 11 cents, or 0.2%, to $73.69 a barrel by 0148 GMT. U.S. West Texas Intermediate crude
The US Dollar trades stable in very calm holiday trading on Friday. Monthly Industrial Production in Japan fell by 2.3%, less than the expected 3.5%, while big Chinese manufacturers also reported falling profits. The US Dollar Index (DXY) briefly slipt below 108.00, remains close to a two-year high. The US Dollar (USD) is trading a
The EURUSD moved higher in the early European market and in doing so, extended above the falling 200-hour MA (green line currently at 1.04286). The high price reached 1.04433 which was short of the highs from earlier this week and the high from last Friday near 1.0448. Those highs stalled ahead of a swing area
Treasury Secretary Janet Yellen fired off a warning shot to Congress today, flagging a critical debt ceiling timeline that could rattle markets in early 2025. Debt ceiling reinstates Jan 2 Default risk window: Jan 14-23 Treasury to deploy ‘extraordinary measures’ if needed The timing adds another layer of complexity to an already heated political environment
Gold prices were trading flat on Friday, but were set for a weekly rise, as markets awaited signals on the U.S. economy under the incoming Donald Trump administration and the Federal Reserve‘s interest rate strategy for 2025. FUNDAMENTALS * Spot gold was flat at $2,632.79 per ounce, as of 0024 GMT. Bullion gained 0.45% so
EUR/USD registers a minor uptick on Friday, trading near 1.0430 after recent losses. RSI climbs to 44 in negative territory, indicating a tepid recovery but still suggesting sellers hold the upper hand. MACD histogram shows flat green bars, hinting at fading bearish momentum while the 20-day SMA remains a key hurdle. The EUR/USD pair ended
Euro is having a modest rebound as markets enter the final US session of the holiday week, supported by a notable rise in Germany’s 10-year benchmark yield. Investors dumped German bonds after President Frank-Walter Steinmeier dissolved the lower house of parliament, paving the way for snap elections on February 23. The move follows the collapse
The USDJPY moved lower in the US session but after getting within 11 pips of the rising 100 hour MA. THe price has since bounced back to 157.84 currently as the buyers remain in firm control. THe last time the price tested the 100 hour MA was back on December 17 adn Deceember 18 before
WTI crude oil settled 98-cents higher today to $70.43. Oil traded up to $88 early last year but has been treading water near $70 for months. The opening level of the year was $71.65 so it’s on track for a small decline this year. Today’s EIA US oil inventory data: Crude -4237K vs -1867K expected
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