Author: FX
Markets:Gold up $37.21 or 1.4% $2706.61US 10-year yield 4.414%, -1 point basis pointsUS 2-year yield 4.377%, +220 basis pointsWTI crude oil up $1.08 or 1.53% $71.19 S&P 500 rose . For the week the index rose 1.52%NASDAQ rose . For the week the index rose 1.62%Russell 2000 rose . For the week the index rose 4.3079%Dow rose . For the week the index rose 1.76%European shares moved higher with the UK FTSE 100 rising 1.38% and German DAX rising 0.8% leading the way. France’s CAC rose 0.58% was the weakest performer. The US dollar rose against all the major currency…
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sitox RBC Bearings (NYSE:RBC) +2.7% in Friday’s trading to an all-time high as KeyBanc upgrades to Overweight from Sector Weight with a $375 price target, saying short-cycle industrials likely are close to a bottom following five quarters of negative organic growth. Even as Source link
The USD/CHF pair, after trading within a range of 0.8400 to 0.8550 through late August and October, transitioned from consolidation into a trending phase. This shift began as prices broke through key levels in a step-by-step manner, marking the transition from non-trend to trend. Last week, the price moved above the 50% midpoint of the move down from the April high at 0.87989, and the 200 day MA at 0.88298. The price reached a target area near 0.8914 to 0.8923 and backed off into the close last Friday. Early this week, the pair moved lower initially, breaking below the 200-day…
The Dow Jones gained another 400 points on Friday. After a brief lull, the major index is back into its post-election rally. Investors are pivoting out of the usual tech rally into consumer goods. The Dow Jones Industrial Average (DJIA) has snapped its recent soft patch, extending its midweek bullish pivot into a firm Friday performance. The Dow Jones is on its way to finishing another trading week on the firmly bullish side, up around 1.8% from Monday’s opening bids but still a little shy of last week’s record highs near 44,485. A firm print in US Purchasing Managers Index…
GBP/USD sinks further following poor performances in key UK economic indicators and rising geopolitical concerns. Technical analysis highlights potential for the pair to test significant supports at 1.2445 and possibly the year-to-date low of 1.2299. RSI indicates oversold conditions, suggesting a heavy bearish pressure but not yet at extreme levels. The Pound Sterling extends its losses against the Greenback for the third straight day, is down 0.47% after UK Flash PMIs and Retail Sales data disappointed investors. This and heightened geopolitical tensions due to Russia-Ukraine and Middle East conflicts, bolstered the American currency. At the time of writing, the…
Baker rig count for the current week:Oil rigs, up 1 to 479 Natural gas rigs down -2 to 99Total rigs for the week down 1 to 583 This article was written by Greg Michalowski at www.forexlive.com. Source link
The major European indices are closing the day higher despite what was weak flash European PMI data for both manufacturing and service.The final numbers are showing: German DAX +0.89%France’s CAC +0.58%UK’s FTSE 100 +1.38%Spain’s Ibex +0.39%Italy’s FTSE MIB +0.60%For the trading week indices are mixed with France and Italy moving lower and Germany, UK, and Spain moving higher.German Dax +0.58%France’s CAC -0.20%UK’s FTSE 100 +2.46%Spain’s Ibex +0.1 don’t worry about them serving soaring new 8%Italy’s FTSE MIB -2.04%Looking at the European yields, the benchmark 10 year yields moved lower on the weaker data: Germany 2.245%, -8.2 basis pointsFrance 3.046%, -6.7…
The EUR/USD pair continued its downward trend today, extending a week-long selloff as bearish momentum carried the price through key technical levels. Weak European flash PMI data and concerns from ECB officials over growth and inflation pressured the euro, while stronger-than-expected US PMI data (offset slightly by weaker University of Michigan data) provided support for the dollar. The pair broke below the 50% retracement of the trading range at 1.0405, reaching a low of 1.03322 before bouncing slightly.After significant selling, a corrective bounce is expected, but the strength of that correction will determine the next move. Today’s recovery took the…
The USD/JPY pair moved lower in the early Asian session but found support once again near the rising 100-bar moving average on the 4-hour chart, currently at 153.944. This level, which also held yesterday and prompted a bounce, remains a key technical support. Staying above this moving average maintains a bullish bias, while a break below shifts the focus to the 61.8% retracement level at 153.397. Further downside targets include the 200-bar moving average on the 4-hour chart at 152.314 and the 200-day moving average at 151.941, with each level increasing the bearish bias if broken.On the upside, a swing…