Canadian dollar was the top performer this week USD/CAD broke down to a fresh three-year low today, edging through the February floor. It’s the culmination of a great week for the currency that was capped off with a very strong jobs report. At the bottom of the ledger is the yen, which isn’t a surprise
Technical Analysis
Crude oil settles down $0.41 or -0.62% The the price of WTI crude oil futures are settling at $65.61. That is down $-0.41 or -0.62%. The high for the day reached $66.24. The low extended to $65.41. For the week, the high price (and high for the recent cycle) reached $67.98 on Monday. The low price was on Wednesday at $63.13.
Dow industrial average continues to lead the way and the Nasdaq lags far behind The S&P index is traded to a new session high 3937.66. That took the price nearly to unchanged on the day. The current price is at 3937.31, down -2.03 points or -0.05%. The Dow industrial average continues to lead the charge with a gain
Nasdaq lags once again. Russell 2000 also closes at a record The Dow and the S&P closed at another record high. Dow has its best week since November Nasdaq index lags once again as the rotation into the major cyclicals continues The Russell 2000 also closed at a record level today The final numbers are showing: S&P index, +3.99 points
Gold down $2 to $1719 Gold fell as low as $1699 but has rebounded to virtually unchanged on the day in a solid show of resilience that’s been aided by USD softness. Earlier this week, Doubleline Capital CEO Jeff Gundlach called a bottom for gold. It’s premature to judge it but there are some solid
The greenback climbs to the highs for the day now The relief in Treasuries this week is starting to dissipate, as 10-year yields are now up over 4 bps on the day to 1.579%. The low yesterday was seen at 1.475%. The dollar is picking up some bids across the board now as it rises
Stay below 1.25865 now The USDCAD has been trading mostly between 1.25865 on the downside and 1.26976 on the topside over the last 10 or so trading days. Today, the pair crack below that level but found buyers initially near the swing low from March 4 and the price rebounded. That bounce extended above a lower swing area between 1.25865
Yields are mixed but off highs The 10 year auction had a 1 bp tail but the other numbers were not all that bad. As a result, yields moved lower. The 10 year yield is down to 1.519%, down -0.7 bps on the day. The low reached 1.5039%, while the high reached 1.5647%. The 2
Yield moves toward the low for the day at 1.5177% The U.S. Treasury will auction off $38 billion of 10 year notes at 1 PM ET. Ahead of that auction, the 10 year yield has recently moved back down into negative territory for the day. It currently trades at 1.523%, down -0.3 basis points. The low
Some selling into the close. The US stocks are closing higher on the day with the Nasdaq leading the move higher. The Dow, which has been the leader in the short term, has closed higher but lagged today. Nasdaq has the best November. Closes 8% below record high Dow closes 1% from all time high
New all-time high at 32150.32 the Dow industrial average is currently trading up around 340 points for 1.08% at 32144. The high price just reached 32150.32. That was enough to take out the high price from yesterday at 32148.04. Other indices also sharply higher: the NASDAQ index is outperforming with a gain of 476 points or
Higher yields remain the catalyst The longs in the technology stocks continue to get hammered and the rotation into the cyclical continues as fears of interest rates have traders repricing the high flyers of 2020. The final numbers are showing: S&P index -20.72 points or -0.54% at 3821.23 NASDAQ index -310.98 points or -2.41% at 12609.16 Dow industrial average rose
NASDAQ index continues to falter As the NASDAQ index falls -0.83% and trades near its lows for the day, the Dow industrial average just reached a new all time high at 32010.25. The high surpassed the previous high from February at 32009.64. The new record was only by the smallest of margins. The price is
Tests the 100 hour MA for the 2nd time and bounces in volatile up and down trading The USDCAD has completed the up and down trading lap that saw the price bottom in the Asian session against the 100 hour MA at 1.2650, move up to test the the high from last Friday at 1.27441 (the high ticked up
Stays below the 100 day MA The Nasdaq index had the price fall below is 100 day moving average near 12626. Yesterday the price fell below the moving average line as well, but rebounded and close above the level. Looking at the price action today, the pair once again fell below the level and traded to a new low
S&P index also higher The comments from Feds Kashkari and Bullard, seem to have given the stock market a boost. . The 10 and 30 year yield are in the red now with the 10 year down -0.5 basis points and the 30 year down -3.6 basis points. The major indices currently show: S&P index up 18.48 points or 0.49% at 3786.88 NASDAQ
WTI crude oil settles at $66.09 The price of WTI crude oil futures closed the week at $66.09. That is up $2.26 for 3.54%. The high for the day reach $66.40. The low for the day reached $63.82. Looking at the daily charts, the high price extended above the high from January 2020 (on a continuous
Major indices close near highs for the day It was another wild day in the equity complex. The major indices are all closing higher and near their session highs after earlier falls were erased. Dow posted the best weekly performance in four weeks NASDAQ sees its second straight weekly loss Dow S&P and NASDAQ snap three day losing streak