Sterling gains fade The New Zealand dollar is the top performer this week while the US dollar was the laggard. Even today with USD staging a bit of a comeback, it’s not sticking as the kiwi pushes back into positive territory. The break above the October highs is constructive for a retest of 0.6800 in
Technical Analysis
EUR/USD aims towards the week’s highs as the dollar keeps weaker For bank trade ideas, check out eFX Plus The shift in the market mood came after the German manufacturing PMI beat earlier and since then, the dollar is finding it tough to stand its ground after having snapped a four-day decline in trading yesterday.
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The dollar is maintaining a slight advance for the most part thus far For bank trade ideas, check out eFX Plus The dollar is holding its ground on the session and is keeping a modest advance against the pound, as cable slips to a session low of 1.3093 and testing the 1.3100 handle. A drop
Up and down trading day on stimulus hopes The major US indices are ending the session with modest declines – but near the lows - in what has been an up and down session spurred on by the coronavirus stimulus talks out of Washington. The final numbers are showing: S&P index -7.64 points or -0.22% at 3435.48 NASDAQ index
USD/JPY falls to its lowest level since 22 September, just below 105.00 Dollar weakness is the major theme in the currencies market today and it is apparent that a lot of that is riding on the back of hopes of a stimulus deal coming – one way or another. While short-term headlines may still bring
NASDAQ snaps 5 day losing streak. Dow and S&P break 4-day decline The US major indices snapped their losing streaks but also close well off there intraday highs. The NASDAQ index had had a 5 day losing streak while the Dow and S&P declined for 4 straight days. S&P index closed up 16.23 points or 0.47%
Gold continues to coil up ahead of what could be the final pre-election stimulus showdown in the US For bank trade ideas, check out eFX Plus Gold is pretty much forming a narrowing wedge at this point as we get into what hopefully will be the end of the pre-election stimulus showdown in the US.
NZDUSD 100/200 hour MA at 0.66276 and 0.66232 The NZDUSD is trying to hang above it’s 100/200 hour MAs. The 100 hour MA comes in at 0.66276. The 200 hour MA (green line) comes in at 0.66232. The low for the NA session coes in at 0.6623. A move below would tilt the intraday bias
S&P and NASDAQ trim losses With 37 or so minutes ago into the close, the major indices are making a comeback. The S&P index is down -6 points or -0.17% at 3482.62. The high price reached 3483.35. The low price extended to 3440.89 The Dow industrial average is down 11 points or -0.04% at 28503.32. It’s
What key levels are in play in the new trading day EURUSD: The EURUSD traded lower on the day (-43 basis points). However for the New York session, the price traded above and below the 61.8% retracement of the move up from the September 25 swing low at 1.16952 in a narrow trading range. The high
Major indices recover off session lows The major indices close lower for the 3rd straight day. However the indices closed well off there lows for the day. Highlights include S&P and NASDAQ on track for weekly gain Dow on track for its 1st losing week in 3 weeks Healthcare was the worst sector while energy
GBP/USD inches a little higher towards 1.2940 For bank trade ideas, check out eFX Plus The market is starting to position itself for Boris Johnson to announce an extension of trade talks with the EU later today, and more so now following Dominic Raab’s comments that “there is a chance” for a Brexit deal and
GBP/USD falls by about 100 pips before settling closer to 1.2900 now For bank trade ideas, check out eFX Plus Cable was treading close to its 200-hour MA (blue line) earlier @ 1.2960 before UK PM Johnson offered a surprise response to the EU summit yesterday in calling for preparations of a no-deal Brexit by
Will Johnson do the unexpected and blow up negotiations for good? The pound is drifting to start the day, with cable seen back under 1.2900 ahead of European trading but not really facing any urgency to retest the lows this week @ 1.2863. For now, sellers are still keeping a more bearish near-term bias upon
Down $0.08 or -0.19% The November WTI crude oil futures are settling at $40.96. That is down $0.08 or -0.19%. The December contract settle down $0.10 at $41.24. The high price for the November contract reached $41.29. The low price extended to $39.52. The crude oil inventories showed a drawdown of 3.818 million barrels. That was
NASDAQ leads the way lower The major indices close lower for the 2nd consecutive day. The NASDAQ index was the weakest of the majors today. Some highlights: S&P and NASDAQ index is trading lesson 3% from the all-time high Stocks have their first 2 day losing streak since September 18 The Dow industrial average turned back for
NASDAQ continues to lead the way lower The major indices are all lower on the day. The declines today would be the 2nd consecutive down day after 4 days to the upside. The NASDAQ index is leading the way to the downside with a -0.80% decline. The index is trading to new session lows Treasury Sec.