Author: FX
NASDAQ and S&P indices end the week with five straight days of gainsAs the day and week comes to a close, the JPY is ending the day as the strongest of the major currencies and the NZD is the weakest. The US is ending the day mixed with most of the declines coming vs the JPY and the CHF and gains vs the AUD and NZD. The greenback was near unchanged vs the EUR, GBP, and CAD today. The NZDUSD moved lower today after reaching new highs near the 100 bar MA on the 4-hour chart near 0.6195. The subsequent…
Mexican Peso rises to a three-week peak as US Dollar drops. Fed rate cut expectations increase with CME FedWatch Tool showing a 43% chance of a 50 bps cut, pressuring the US Dollar. Political concerns in Mexico ease following the approval of the judicial reform, helping the Peso’s rally. The Mexican Peso rallied for the third straight session against the US Dollar due to overall weakness on the latter. Market participants gaining confidence that the US Federal Reserve (Fed) will lower borrowing costs “aggressively” boosted the Mexican currency, which shrugged off judicial reform fears. The USD/MXN trades at 19.25, down…
The major US stock indices closed the day with gains. The NASDAQ and the S&P had a perfect week with five straight winning days. The NASDAQ index erased it -5.77% decline from last week with a gain of 5.95%.A snapshot of the closing levels today shows: Dow industrial average rose 297.01 points or 0.72% at 41393.78S&P index rose 30.26 points or 0.54% at 5626.02NASDAQ index rose 114.30 points or 0.65% at 17683.98The Russell 2000 rose 53.06 points or 2.49% at 2182.49.For the trading week:Dow rose 2.60% after falling 2.93% last week.S&P index rose 4.02% after falling -4.25% last week.NASDAQ index…
Gold hits new all-time high at $2,586 amid rising expectations of a significant Fed rate cut, with a 43% chance of a 50 bps reduction. US Treasury yields fall, US Dollar Index drops to 101.09, boosting Gold’s ascent. Global ETFs experience strong inflows; improved US Consumer Sentiment and lower inflation expectations prompt speculation on more Fed easing. Gold prices surged to a new all-time high (ATH) of $2,586 and are set to extend their gains as the US Dollar weakens on Friday. Expectations for a bigger interest rate cut by the Federal Reserve (Fed) boosted the non-yielding metal, with talks…
AUD/USD declines despite USD weakness as expectations for US rate cuts rise sharply. Fed whisperer’s comments suggest a close call on Fed’s decision next week, raising the odds of a 50 bps cut to nearly 50%. RBA Governor Bullock remains hawkish, saying it is too soon to consider rate cuts due to high inflation. The AUD/USD declined by 0.20% to 0.6710 in Friday’s session. The Australian Dollar declined, while the US Dollar weakened following comments from a “Fed whisperer” suggesting a higher probability of a 50-basis-point rate cut at the Federal Reserve’s (Fed) next meeting. In contrast, the Reserve Bank…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Monday, September 16 (ET)Tuesday, September 17 (ET)5:00am ET: German ZEW Economic Sentiment (Forecast: 17.2, Previous: 19.2)8:30am ET: CAD CPI m/m (Forecast: 0.1%, Previous: 0.4%)8:30am ET: US Core Retail Sales m/m (Forecast: 0.2%, Previous: 0.4%)8:30am ET: US Retail Sales m/m (Forecast: -0.2%, Prvious: 1.0%)Wednesday, September 18 (ET)2:00am ET: UK CPI y/y (Forecast: 2.2%, Previous: 2.2%)8:30am ET: Building Permits (Forecast: 1.41M, Previous: 1.40M)2:00pm ET: Federal Funds Rate (Forecast: 5.25%, Previous: 5.50%)2:30pm ET: Fed Reserve Press conference 8:45 PM ET: NZ GDP QoQ: Forecast -0.4%. Previous +0.2%9:30 PM ET: AUD Employment Change: Forecast 25.8K.Previous 58.2K. Unemployment rate: Forecast 4.2%. Previous 4.2%Thursday, September 19…
Crude oil futures is settling at $68.65. That is down $0.32 -0.46%.The high price reached $70.32. The low price was at $68.50THe selling into the settlement took the price below the 200 hour MA at $68.91. This article was written by Greg Michalowski at www.forexlive.com. Source link
The comments from Makhlouf are in-line with the views expressed by ECBs Lagarde. The ECB is sittiong on the fence and waiting….even if it might be uncomfortable. This article was written by Greg Michalowski at www.forexlive.com. Source link