GBP/USD moves back above 1.3600 in thin trading For bank trade ideas, check out eFX Plus The dollar is keeping weaker across the board as its struggles going into the year-end continues, with EUR/USD having neared 1.2300 earlier and GBP/USD now climbing back above the 1.3600 handle in European trading. The pair looks towards the
Technical Analysis
The range is 2215 pips, but only up 224 pips from the close of year 2019 The GBPUSD had a volatile down and up trading year that saw the price open the year at 1.3257. The high on the first day of the year reached 1.32656 and that was the high until August 19 when
USD/CAD down 70 pips The Canadian dollar is off to a strong start as Toronto returns from yesterday’s holiday. USD/CAD is down 72 pips to 1.2782 and trading at a session low. The loonie is getting a lift from oil (+1.2%) and other commodities along with positive sentiment in equities. In data today, Bloomberg’s weekly
S&P leads the charge today The major indices are all closing at record levels with the S&P index leading the charge today. S&P index rose 32.3 points or 0.87% had 3735.36 Nasdaq rose 94.688 points or 0.74% at 12899.42 Dow rose 204.1 points or 0.68% at 30403.93. The gains were spurred by the signing of the near $900 billion aid package
GBP, JPY, CAD, AUD and NZD trade to new lows vs the greenback The USD climbed to new session highs into the London fix (at 11 AM ET/1600 GMT). The GBP, JPY, CAD, AUD and NZD all traded to new session lows vs the greenback (the USD to new session highs vs those currencies). Technically,
The USD is weaker As the North American session begins the NZD is the strongest and the CHF is the weakest. The USD is weaker as the market prepares for the last batch of data today including Durable goods, Initial jobless claims, personal income and spending, PCE deflator data and Canada GDP. All will be
New highs and tilt in the bias to the upside The GBPUSD has moved to a news session high and in the process has extended above its 100 hour MA at 1.3440. The catalyst is a story saying that the is a deal is ”pretty much of there”. Looking at the hourly chart, the price has been
MAs converging The USDJPY is is ping-ponging between its 100 hour moving average below and its 200 hour moving average above. Him ThHime 100 hour moving average currently is at 103.395. The 200 hour moving averages at 103.573. Apart from some modest peaks below and above the MAs, the price has been confined by that range. The narrow trading range and acceptance of support
NASDAQ lags. Dow leads. S&P in between The major US indices are opening with mixed results. The NASDAQ lags (near unchanged). The Dow leads and the S&P is in between. The snapshot of the markets currently shows: NASDAQ index -5.7 points or -0.04% at 12805 S&P index up 13.2 points or 0.35% at 3700 Dow up 172 points or 0.57% at 30186.68
Tests 100 hour MA The EURUSD has been dragged higher by the GBPUSDs run higher after reports a Brexit deal is close. For the EURUSD technically today, the low price stalled near a lower trend line on the hourly chart (see green numbered circle 4). The run back to the upside, has taken out
The index climbs above 2000 US smaller cap index rises above 2000. The Russell 2000 has finally lived up to its name. In an incredible turnaround from the 966 low in March, the Russell 2000 has broken above 2000. That’s the power of low interest rates and government money. For bank trade ideas, check out
Crude oil prices are moving higher helping to strengthen the loonie The USDCAD is moving to a new session low and in the process is looking to retest the 100 hour MA (and a swing area). The 100 hour MA is currently at 1.28314. The swing area comes in between 1.28249 and 1.28322. Also in play is
Up 2.34% on the day The price of WTI crude oil futures for February delivery settling at $48.12. That’s up $1.10 or 2.34%. The high price reached $48.50. The low price extended to $46.16. Looking at the daily chart, the low for the day stalled just ahead of the 61.8% retracement at $46.04. Pulling that
Dow and S&P higher on the day. Nasdaq lower and closes near the lows. The Russell 2000 closes at a record The US major indices are closing with mixed results. The down S&P index are closing higher on the day. The Nasdaq index is closing lower and near the lows for the day. The Russell 2000 of small-cap stocks
Gold is trading up by over 5% since the start of the month Despite a bit of a pullback from $1,900 from earlier in the week, gold has had a stellar month so far and if the seasonal pattern is anything to go by, January promises to be yet another solid month for gold buyers.
Dow closes nearer session low The US stock indices are ending the session with mixed results. The S&P index is trading down modestly, the NASDAQ index is leading the way to the upside. The Dow is the worst performer. The small-cap Russell 2000 is ending nearer up 1%. It and the Nasdaq index closed the day at record highs. The S&P is
Dow closes marginally higher The US border indices are closing lower on the day but well off the worst levels. The Dow industrial average is closing marginally higher. A look at the final numbers are showing. S&P index fell -14.47 points or -0.39% to 3694.94 NASDAQ index fell -13.122 points or -0.10% to 12742.53 Dow rose 36.94 points or 0.12% to 30215.99
Down $-1.36 or -2.77% the price of crude oil futures is settling at $47.74. The high for the day reached $48.61. The low reached $$46.18. For the February contract, the price settled at $47.97. That is down -$1.27 on the day. The price fall today took the contract down to and through the 61.8% retracement of the years