Indices move higher to start the trading week The major US stock indices are starting the day and the week to the upside. The Dow is up for the second consecutive day. S&P and NASDAQ up for the third day in a row THe snapshot currently shows: Dow up 188 point or 0.54% at 35308.26 S&P index up 23.34 points
Technical Analysis
The January/February highs between 1.2669 and 1.2880 were broken earlier, but price has moved back below The USDCAD continued its run higher today with the pair breaking above its 2021 highs between 1.2869 and 1.2880 (from January and February). The break saw increase momentum and the pair moving up to the next target area between 1.2926 and 1.29578 (see yellow area
Major indices close higher. The major European indices have erased earlier declines and are closing higher today. The provisional closes are showing: German DAX, +0.2%. The index was down -0.71% at the lows France’s CAC, +0.3%. The index was down -0.57% the lows UK’s FTSE 100, +0.4%. The index was down -0.39% at the lows Spain’s
The low was at $1770.60 and the high was at $1795.37 The price of gold has consolidated in a up and down trading range this week. The low was reached on Monday at $1770.60. The high was on Tuesday at $1795.37. The close last Friday was around $1778. The current price is trading around $1785. That is in
Stall at the key MA level The GBPUSD trended sharply to the downside yesterday and is modestly lower today. The EURUSD had an up and down day yesterday – closing lower – and is higher today. That price action has been helped by a bid in the EURGBP over the last two days. Looking at the hourly chart,
All 11 sectors higher The major indices all closed higher for the day led by the NASDAQ index which rose 1.17%. All 11 sectors of the S&P are higher indices close near the session highs Dow snaps a three-day losing streak S&P and NASDAQ close up for the second consecutive day major averages post weekly losses Dow
Crude oil is down for the 7th consecutive day The CHF is the strongest and the CAD is the weakest as flows are once again out of the commodity currencies with help from China regulation, concerns about slowing from Covid delta variant (at least now), lower stocks, and all that dynamic continues to hurt commodities.
What an ugly fall this week The final tell for an Australian dollar capitulation should have been yesterday’s jobs report. The numbers for July were surprisingly good and yet AUD/USD could only muster a 10 pip rally on the headlines. To be fair, it landed at a time of incredible USD/JPY buying and it’s a
Flight to safety flows lead the forex market today The JPY is the strongest and the AUD is the weakest as North American traders enter for the day. The moves in the forex, are the usual flight to safety ones. The USD and the CHF are just behind the JPY as the strongest. The commodity
A rundown of some of the sore spots The charts aren’t always right but they should never be ignored, especially when so many dominoes are falling together — and just six weeks after the bottom began falling out of Treasury yields. There are still many risk-positive charts out there and many more that are hanging
NZD/USD falls by 0.5% to 0.6890 in European trading The kiwi has put up much resilience after the RBNZ policy decision earlier but the currency is starting to wobble a little now as it slips under 0.6900 against the dollar. While the figure level is key, there is still daily support from the 20 July
No new records today The major US stock indices all closed lower, snapping the record close string at five. Dow has its worst performance since August 4 S&P has its largest decline in nearly a month NASDAQ posts a two day declinne S&P and Dow snap a five day win streak/5 days of record closes
GBP/USD down 0.4% to below 1.3800 on the day The dollar may be keeping more resilient amid more dour risk tones in the market but it is tough to really pinpoint any reason for the pound’s underperformance today, in which the currency is even lagging the loonie in European morning trade. The only thing I
RBA minutes due at 0130 GMT AUD/JPY slumped as low as 79.89 yesterday, just above the July low of 79.84. It’s since rebounded 30 pips but remains within the danger zone as we count down to the minutes of the August 3 RBA decision. For me, this chart doesn’t look great. The temptation is to
Oil is down 2% to near $67 in European morning trade While WTI crude seemingly held at the July low in trading last week, the latest bounce never really got going as it is slowly fizzling with the market leaning more towards being risk averse to start the new week. Delta variant concerns are posing
USD/JPY down 0.2% to 109.30 levels currently Invest in yourself. See our forex education hub. The sharp move lower on Friday came as Treasury yields and the dollar sank and with yields keeping lower once again today, the downside momentum in the pair is staying the course as European traders enter the fray. USD/JPY is
AUD/USD is down 0.4% today, keeping near the lows in European trading The pair is down 0.4% on the day to around 0.7338 currently, hovering near the lows as the more defensive risk mood and softer China data weigh on the aussie. That said, in the context of the past few days, this fits with
Down -$0.65 or -0.94% The price of WTI crude oil futures settle at $68.44. That’s down $0.65 or -0.94%. The high price reached $69.22. The low price extended to $68.15. The low today was just above the closing level from last week near $67.95. For the week the price moved lower on Monday falling to a low
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