Closing changes for the main US markets: S&P 500 -0.6% Nasdaq composite -0.8% Russell 2000 -1.7% DJIA -0.4% On the week: S&P 500 -4.8% — worst since week ending June 17 Nasdaq composite -5.5% Russell 2000 -4.9% DJIA -4.1% Now for more bad news: There’s an outside bearish reversal on the weekly chart of the
admin
Oil prices edged upwards in early Asian trade on Thursday, as supply concerns and a looming rail stoppage in the United States, the world’s biggest crude consumer, supported markets. Brent crude futures rose 38 cents, or 0.4%, to $94.48 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude rose 46 cents, or 0.5%,
The stronger than expected consumer inflation data from the US basically sealed the case for a 75bps hike by Fed next. Dollar ended as the strongest one last week, as supported by risk aversion too. But the greenback could only close above prior week’s high against Canadian and New Zealand Dollar, suggesting that momentum was
GBP/JPY is set to finish the week with decent losses of 1.28%. From a daily chart perspective, the cross-currency GBP/JPY shifted to neutral biased. Short term, the GBP/JPY is about to hit 162.30. the head-and-shoulders target. The GBP/JPY drops for the four consecutive trading session, down by 0.86% on Friday, after Wall Street finished the
On Sept. 8, Coinbase announced it was bankrolling a lawsuit against the United States Treasury Department. The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash. And on Sept. 9, Securities and Exchange Commission (SEC) Chair Gary Gensler announced he was working hard with Congress to create legislation
Risk Disclaimer: https://www.tradeciety.com/risk-disclaimer/ My 4 trading courses for the price of 1: ► https://ultimatepriceaction.com Our trading journal: ► https://edgewonk.com/ Free trading blog: ► https://tradeciety.com/best/ Trading podcast: ► https://tradeciety.com/podcast Supply & Demand indicator (ad): ► https://patternalpha.com/supply-demand-indicator/ #### Risk Disclaimer: https://www.tradeciety.com/risk-disclaimer/ Any and all liability for risks resulting from investment transactions or other asset dispositions carried out
Gold trades to the lowest level since April 2020 The price of gold is up around $10 on the day. The current price is trading at $1674.11. The high price reached $1680.41. THe low extended to the lowest level since April 2020 to $1654.28. The rebound has taken the price back into a swing area
Markets: WTI crude oil up $0.21 to $85.30 US 10-year yields down 1 bps to 3.45% Gold up $10 to $1673 S&P 500 down 28 points to 3873, or 0.7% — down 4.8% on the week NZD leads, GBP lags It could have been worse. The FedEx warning late yesterday boosted the dollar and weighed
Oil prices dipped in early trade on Friday, extending the week’s losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand. Brent crude futures fell 22 cents, or 0.2%, to $90.62 a barrel as at 0052 GMT after sliding 3.5% to a
GBP/USD recovers some ground after hitting 1985’s lows, ahead of next week’s BoE/Fed decisions The British pound trims its earlier losses against the greenback after hitting a 37-year low around 1.1350, and recovers the 1.1400 thresholds after registering weaker-than-estimated retail sales, fueled speculations of the UK’s tapping into a recession. At the time of writing,
USDCHF stalls at the 200 hour MA The USDCHF has chopped higher in trading today. The pair started the day near a swing area at 0.9591 to 0.9606 after breaking back above the 100 hour MA yesterday and closing above. The low in the Asian session stalled the fall in the 0.9591 to 0.9606, moved
The Canadian dollar is at an interesting spot on the global spectrum of risk assets at the moment. Domestically, it’s been a good year with strong GDP growth as the economy reopened from covid. Commodity investment has picked up and terms of trade have improved. For much of the year, that kept the loonie neck-and-neck
Gold prices hovered near a two-year low on Friday and were set for a weekly fall as an elevated dollar and prospects of aggressive U.S. rate hikes dented bullion’s appeal. FUNDAMENTALS * Spot gold was unchanged at $1,664.48 per ounce, as of 0030 GMT, and was down 3% for the week so far. Prices hit
Selloff in Pound catches most currency related headlines today, as it slumped to a 37-year low against Dollar. The decline came after data showed retail sales contracted in both volume and value term in August, indicating that inflation was already biting into spending. In the background, the UK economic is already in recession. Still for
In this article WFC Huntstock | Disabilityimages | Getty Images Turbulent times may be ahead for Hispanic workers, a new report from Wells Fargo found. The firm expects Latino workers to take an outsized hit if a mild recession happens in 2023, like it is projecting. “The Hispanic unemployment rate tends to rise disproportionately higher
Silver price is erasing Thursday’s losses up by almost 2% on Friday. September’s US economic data justifies the Fed’s 75 bps rate hike. The US Consumer Sentiment improved, showing US citizens resilience despite a worsening economic outlook. The silver price climbed as the Wall Street close looms, gaining 1.85% during the day, caused by a
After Ethereum’s long-awaited Merge, it’s an ideal time to think about how we can also improve smart contracts. Essentially apps that run on blockchains, smart contracts are a vital component of our Web3 applications. But interacting with them remains quite dangerous, especially for non-developers. Many of the incidents where users lose their crypto assets are
EURUSD consoldates and awaits the next shove The EURUSD is mired in at 62 pip trading range for the day. The high extended to 1.0017. The low reached 0.99551. On the topside, the high stalled ahead of the low of a swing area (see red numbered circles) betweeen 1.00226 and 1.00328. On the downside, the