Author: FX
The major US indices are closing with mixed results today. The Dow industrial average and S&P index both closed lower. No record closes for those indices on the last trading day of the week. The NASDAQ index did close in positive territory and at a new record. A summary of the closing levels shows:Dow industrial average -305.49 points for -0.77% at 39475.91S&P index-7.37.4 -0.14% at 5234.17NASDAQ index rose 26.97 points or 0.16% at 16428.81.The small-cap Russell 2012-26.56 points or -1.27% at 2071.99.For the trading week, the major indices (and the Russell 2000) all closed higher:Dow industrial average rose 1.602%S&P index…
Shifting central bank biases and a few surprise data points paved the way for an exciting week in the forex market. Which currency bagged the top spot and which one lagged behind? Source link
The USDJPY bumped against three-year highs this week on both Wednesday and Friday, and found willing sellers each time. The high on Wednesday reached 151.81. The high today reached 151.85. That compares to the 2022 high at 151.95, and the 2023 high at 151.91. So over the last three years, the swing highs are within 10 pips of each other. That’s a ceiling. Having said that ceilings are meant to be broken. If it happens, it would take the USDJPY to the highest level since 1990 over 30+ years ago.What would give the sellers more confidence?The swing highs from February…
Cambria Shareholder Yield ETF declares quarterly distribution of $0.5155 Source link
Saying that this week was an eventful one would still be an understatement, as market correlations were in flux and there was no shortage of big moves thanks to an action packed calendar…and a few surprises! From a handful of central bank announcements to major shifts in risk sentiment, there were plenty of swings across FX, equities, commodities, and crypto. Here’s a quick rundown of how it all went down. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to…
Crude oil futures are settling at $80.63. That is down $0.44 or -0.54%.The low for the day reached $80.42. The high was up at $81.45. For the trading week, the price is down -0.51% on a decline of $0.41. At session highs this week, the price was up $2.08. At session lows, the price was down $0.74.Looking at the weekly chart below, the high price this week at $83.12 briefly moved above its 100-week moving average at $83.27 before rotating back to the downside. Buyers had a shot. They missed. The low for the week was reached yesterday at $80.30.The…
Rapid DePIN scaling and the path to exponential Minutes Network growth London, United Kingdom, March 22nd, 2024, Chainwire Minutes Network, the world’s first blockchain-based wholesale, DePIN voice carrier, with its, unique close to zero termination cost model unveiled more of its innovative technology today, showcasing its proprietary Mintech Rapid Growth Library (MRGL), and its power to exponentially grow the Minutes Network user base with unprecedented pace. Josh Watkins, CEO said “The MRGL is housed in the Minutes Network SDK, and when this is integrated into a third-party mobile application, Minutes Network absorbs the application’s unique userbase. With the capacity to…
Lululemon Athletica plunges below $400 for first time in five months. Full-year guidance cut to $250 million below consensus. LULU stock halts fall near long-time support of $386.50. Q4 earnings and revenue arrive above consensus. Wall Street favorite Lululemon Athletica (LULU) stock took a punch to the gut on Friday after management’s 2024 revenue outlook underwhelmed analysts. The athleisure stock fell more than 18% at one point to $387, dropping below $400 for the first time since last November. However, LULU stock recovered somewhat to $403.19, down 15.8%, by the close close. Call it a case of expectations getting too far ahead…
Italy is targeting GDP growth of 1% for 2024. That is above economist estimates.Meanwhile, the EURUSD is trading near lows for the day but above the support at the 61.8% retracement of the move up from the February low at 1.08036, and above and swing low going back to the end of February and early March at the 1.07955.Earlier today, the price fell below its 200-day moving average and 50% midpoint at 1.08374. That is now close resistant. I would expect sellers to be disappointed if that level is rebroken to the upside – at least temporarily. Source link
AUD/USD has traded in the 0.6500 range through March – with a short rise above 0.6600. Economists at the National Australia Bank analyze the pair’s outlook. Aussie still expected to appreciate Our expectation for an appreciation above 0.7000 in H2 2024 is contingent on the reversal of the broad strength shown by the USD over the past year or so. In part, this will be reflected by the Fed beginning to ease rates in June – well ahead of an easing by the RBA and a gradual pickup in global growth in 2025. We see the Aussie ending the year around…