Author: FX
Markets:Gold up $18 to $2177US 10-year yields down 1.3 bps to 4.08%WTI crude oil down $1.07 to $77.86S&P 500 down 33 points, or 0.6%, to 5123JPY leads, CAD lagsI’m always leery of a pre-NFP front run and today is an example of why. The US dollar was soft and bonds bid for 24 hours before the report. When the data rolled out it was dovish. Yes, the headline beat but unemployment rose, revisions were much lower and wage growth was surprisingly soft. The initial reaction was for more USD selling but that was the extreme of the day. In the…
It was a busy week for market players as traders had to balance top tier economic updates with several major central bank events. It was the usual cycle of short-term volatility bursts around events, with a big Dollar bearish vibe overall that helped gold, bitcoin and equities hit new all-time highs this week. 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 exclusive MarketMilk™ sections Plus More! Source link
Share: Dow Jones is in the green on Friday after a mixed US NFP print. The S&P 500 and NASDAQ indexes are in the red on the day. US NFP jobs data came in better than expected, but with steep revisions. The Dow Jones Industrial Average (DJIA) eked out slim gains around a quarter of a percent before ending in the red after US Nonfarm Payrolls (NFP) came in wildly mixed, sending broader markets into a confused tailspin. Equities gave a mixed performance as investors grappled with a still-firm US labor market and deep revising cuts to previous data.…
Share: GBP/JPY’s descent under the 190.00 mark aligns with a broader downward trend, eyeing further technical levels. A pivotal close below the February 29 low could open paths towards 188.73 Kijun-Sen and beyond. Recovery hinges on reclaiming ground above 189.00, with resistances waiting at 189.71 and the early March highs. The GBP/JPY fell for the fourth straight day late in the North American session, set to finish the week with losses of 0.44%, below the 190.00 threshold. At the time of writing, the cross trades at 188.98, down 0.31%. GBP/JPY Price Analysis: Technical outlook After diving below February…
Not today.The major indices are closing lower, and also lower for the week. The declines come after both S&P and NASDAQ indices reached new all-time high intraday levels.The final numbers are showing:Dow industrial average -68.68 points or -0.18% at 38722.70S&P index -33.67 points or -0.65% at 5123.68NASDAQ index -188.27 points or -1.16% at 16085.10. The small-cap Russell 2000 also fell by -2.02 point or -0.10% at 2082.71For the trading weekDow industrial average, -0.93%S&P index, -0.26%NASDAQ index, -1.17%The Russell 2000 was the only positive with a gain of 0.304%Nvidia fears extended close to the $1000 level reaching $974 before reversing sharply…
Share: EUR/USD spiked after the US NFP print, but mixed numbers confounded markets. US NFP showed more jobs added, but steep revisions crimp risk appetite. Next week: US and EU CPI inflation on Tuesday. EUR/USD found some room on the top end on Friday, climbing to a fresh high for the week near 1.0980. Bullish momentum got pulled down after investors realized the US Nonfarm Payrolls (NFP) print was more complicated than the initial reaction. US NFP job additions came in above expectations, but the previous print was steeply revised lower, taking it down from an 11-month high.…
The oil market isn’t quite sure what it wants to do. This week, OPEC extended its production cut, the Saudis raised prices and US inventories tightened. But that wasn’t enough to get oil through $80 as it tried on Monday, Wednesday and today. Despite touching above $80 on a couple days, it failed to close above and never even matched last week’s intraday high of $80.85.That’s not a great sign for crude, though the seasonals are still positive for March and April so there’s room for optimism. It pulled back to $77.84 today after failing at $79.99 so there are…
Share: Chicago Federal Reserve (Fed) President Austan Goolsbee stated that he expects the Fed to begin lowering interest rates later this year as inflation cools off. The head of the Chicago Fed gave his outlook on the Fed’s rate stance during an interview with Fox News on Friday. Chicago President Goolsbee’s comments were the last scheduled speaking engagement from Fed officials before the US central bank enters the media blackout period before the March 19-20 policy meeting. Key highlights The Fed remains focused on inflation, not price levels. It is unrealistic to expect price levels to return to…
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…
Share: Indications from the daily chart imply a dominance by sellers for the short term. The same indicators on the hourly chart also imply a bearish momentum, although depicting potential signs of diminishing selling traction. The hourly RSI is recovering after hitting oversold conditions earlier in the session. In Friday’s session, the NZD/JPY pair is currently changing hands at 90.84, down 0.50%. The technical outlook for the pair points to strong control from sellers. Even though the market has been under a selling spree, recent conditions hint at a potential weakening of this selling pressure. Based on the…