Author: FX
US stocks moved higher despite yields moving higher as US jobs showed strength and the striking dockworkers reached a tentative agreement averting a prolonged closure of key port’sA snapshot of the closing levels shows: Dow industrial average rose 341.16 points or 0.81% at 42352.75 S&P index rose 51.13 points or 0.90% at 5751.07 NASDAQ index rose 219.37 points or 1.22% at 18137.85The small-cap Russell 2000 rose 32.65 points or 1.50% at 2212.79.For the trading week:Dow industrial average was able to reverse declines and close higher by 39.75 points or 0.09%S&P index also moved into positive territory with a gain of…
The Canadian Dollar (CAD) eased lower after better-than-expected US NFP numbers. Canada saw an upswing in Ivey PMIs, but was passed over by market watchers. A firm jump in US NFP jobs additions toppled rate cut hopes to wrap up the trading week. The Canadian Dollar (CAD) slipped further on Friday, driven lower by a broad-market extension of recent Greenback bidding that sent the US Dollar higher across the board after US Nonfarm Payrolls (NFP) figures widely outran expectations. Canada’s Ivey Purchasing Manager’s Index (PMI) recovered in September, but the Canadian datapoint was swept aside by investors fully focused on…
As the week comes to a close, the USDJPY is trading near the highs for the day and the week. The move to the upside today off the unexpected US jobs report, was able to take the price above a key swing area ceiling around the 147.33 level and also above the 38.2% retracement of the move down from the July 3 high at 148.116.Both of those levels will be support for traders going into the new trading week. Going forward, if the price can remain above each, the buyers are still in play. On the topside, the high price…
As we head into the close, the EURUSD is trading near lows for the week. The strong US jobs data today helped to push the pair below a swing area between 1.1001 and 1.1014, and also the 50% midpoint of the move up from the August 1 low at 1.0995. That area will now be close resistance going into the new trading week. On the downside, the 61.8% retracement of the same move higher comes in at 1.0944. That is within a swing area going back to July 17 between 1.09419 and 1.0949. That will be a key bias-defining level…
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The Dow Jones recovered ground on NFP Friday, but still remains down on the week.. The US added far more jobs than expected in September. Market hopes for a follow-up jumbo cut from the Fed have collapsed. The Dow Jones Industrial Average (DJIA) rallied after US Nonfarm Payrolls (NFP) jobs figures blew past expectations. US NFP net job gains soared to 254K on Friday, cudgeling market hopes for a second double-wide rate cut from the Federal Reserve (Fed) on November 7. The US Unemployment Rate dropped back to 4.1% from the previous 4.2%, further reinforcing a healthier-than-expected landscape in the…
Gold drops after robust US jobs report lowers pressure on the Fed. US 10-year T-note yield climbs to 3.971%, while the US Dollar Index hits mid-August highs at 102.58, capping Gold’s rise. Geopolitical risks involving Israel and Iran to support Gold, which could hit $2,700. Gold price retraces after a stronger-than-expected US jobs report hinted that the labor market remains solid and that the Federal Reserve (Fed) will likely ease policy in 25-basis-point (bps) chunks. At the time of writing, the XAU/USD trades at $2,643, down 0.40%. The US Bureau of Labor Statistics (BLS) revealed that the labor market is…
Pound Sterling slides below 1.3100 after strong US job data The Pound Sterling (GBP) slides below the round-level support of 1.3100 against the US Dollar (USD) in Friday’s New York session. The GBP/USD pair extends its losing spree for the fourth trading session as market expectations for the Federal Reserve (Fed) to reduce interest rates by 50 basis points (bps) again have waned after the release of the upbeat United States (US) Nonfarm Payrolls (NFP) report for September. The CME FedWatch tool shows that the probability of the Fed cutting interest rates further by 75 basis points (bps) by year-end…
Capricor stock rallies 20% on DMD data presentation update Source link
Caterpillar Inc., commonly known as CAT, is a leading American manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Caterpillar operates globally and is known for its extensive product line, which includes machinery like bulldozers, excavators, wheel loaders, and haul trucks. Below we will look at the long term Elliott Wave outlook of the company. Caterpillar quarterly Elliott Wave chart Quarterly Elliott Wave chart of Caterpillar above (CAT) shows that the stock extended higher strongly within wave (III). The subdivision of wave (III) is unfolding as a nesting 5 waves impulse. Up from…