Author: FX
The US Dollar (USD) is ending the week on a firmer stance as the US/Israeli war against Iran closes in on two weeks. Iran’s closure of the Strait of Hormuz has spiked Oil prices, boosting inflation risks and prompting investors to hide in safe-haven currencies like the Greenback. The escalating conflict in the Middle East continues to dominate market sentiment after Iran targeted oil tankers near the Strait of Hormuz this week, disrupting supply in one of the world’s most critical energy corridors.The US Dollar Index (DXY) crossed the 100.00 mark and is now trading near 100.30 after four days…
Chevron Corporation (NYSE: CVX) has been one of the standout stories of 2026. The integrated energy giant operates massive upstream operations spanning the Permian Basin, Guyana, and Kazakhstan. CVX has surged nearly 27% year-to-date, fueled by spiking crude prices amid escalating Middle East conflict and a high-profile boost from Berkshire Hathaway’s recent accumulation of shares.But as compelling as the fundamental tailwinds are, the monthly chart is flashing a technical signal that every trader following CVX needs to see right now. Price is approaching a resistance trendline that has been in place for nearly two decades.Zoom out on the 1-month chart…
Block Inc (XYZ) is trading relatively flat today, but the bigger picture on the chart is what has my attention. After the company reported earnings on February 26th, the stock had a powerful move higher, pushing up more than 24% in a very short period of time. Moves like that always stand out to me because they often leave behind important areas on the chart that can become key technical levels later on.For those who may not be familiar, Block Inc—formerly known as Square—is a financial technology company focused on digital payments and financial services. The company operates platforms that…
SentinelOne, Inc. (S) has endured a persistent and aggressive sell-off, shedding over 50% of its market value since the end of November 2024. This decline was strictly contained by a steep declining trendline, but the technical narrative for the cybersecurity firm appears to be shifting.Breaking the TrendlineFor the first time since the decline began, price action has successfully pushed above the dominant declining trendline. Notably, this week and last week mark the only occasions during this extended slide where the stock has achieved a weekly close above this line. This breakout is a significant development that may signal the formation…
One of the most-unbelievable moments this year (and there have been many already) was a Sunday-night video from Fed Chairman Jerome Powell where he fought back after he was handed a subpoena due to cost overruns in Fed renovations.It was a clear politicization of the Fed and meant to pressure Powell to lower rates, resign or not stay on as a Governor.A Federal judge killed the subpoena and hopefully that’s the end of it. “There is abundant evidence that the subpoenas’ dominant (if not sole) purpose is to harass and pressure Powell either to yield to the President or to…
The latest NBC poll shows Trump’s approval among registered voters down 3 points to 44% from 47% in March 2025, with disapproval climbing to 54%. The DDHQ polling average paints a similar picture at 43.1/54.4.What matters for markets here is the midterm setup. Trump himself is flagging the risk, noting the historical pattern of the White House party getting punished in midterms. If Republicans lose ground in Congress, that reshapes the legislative landscape for tax policy, tariffs, and deregulation — all of which are priced into current equity valuations to some degree.The issue-by-issue numbers are telling: border security polls at…
In markets there is often a ‘risk-off/risk-on’ dynamic around economic news.At the moment, that’s shifted to more of a war-on/war-off footing, or at least a shift in how long the war might take.This view is winning out at the moment:1) The US tried to talk to Iran but Iran refused and is determined to make the US feel the pain of $200 oil via closing the Strait for a couple months2) The US is going to Plan B, which involves using navy escorts to allow passage through the StraitThe main evidence for the second part is that Pentagon is moving…
Canada just posted its worst jobs report since the pandemic.The 83,900 jobs losses were the worst in a month since 2022 and — worse yet, there were 108K full-time jobs lost. That’s led to a slump in the Canadian dollar and boosted USD/CAD by 90 pips to 1.3728. That’s the highest for the pair since March 7.USD/CAD dailyThe report led to the unemployment rate rising to 6.7% from 6.5% but that metric is worth some perspective as it had been above 7% in the middle of last year.Canada unemployment rateLooking at the chart, it’s not clear if this is the…
The major European stock indices close the day lower led by France’s CAC with a decline of -0.91%. A look at the closing levels for the day shows: German DAX -0.65%France’s CAC -0.91%UK’s FTSE 100 -0.43%Spain’s Ibex -0.47%Italy’s FTSE MIB -0.31% For the trading week, the results were mixed. Looking at the weekly changes German DAX fell -0.66%France’s CAC fell -1.03%. UK’s FTSE 100 fell -0.23%.Spain’s Ibex fell -0.09%Italy’s FTSE MIB eked out a 0.37% gain. This article was written by Greg Michalowski at investinglive.com. Source link
The average rate of 30 year mortgage has shot up to 6.41%. That is the highest rate since September of last year and comes after the rate dipped below the 6.00% level to 5.98% during the week of February 23. The spike in rates is following the rise in the 10 year note. The 10 year yield has moved up from 3.926% to the current rate of 4.283% since the start of the Iranian war. Looking at the weekly chart, the yield has moved back above its 100 week moving average at 4.248% (blue line on the chart below). Last…