Author: FX
The Dollar and Loonie both have a busy schedule ahead, making this textbook technical setup on USD/CAD one to watch for both bulls and bears? Will the downside break be extended or could there be a bounce ahead? USD/CAD: 4-Hour USD/CAD 4-Hour Forex Chart by TradingView Based on our latest Week Ahead in FX post, it’s gonna be a busy one for the forex markets, especially for the U.S. dollar and the Canadian dollar. Aside from central bank speak, Greenback traders will likely see volatility from U.S. GDP and core PCE Price Index updates, while Loonie traders have Canadian GDP…
USD/CAD PRICE, CHARTS AND ANALYSIS:Read More: The Bank of Canada: A Trader’s GuideUSDCAD Continues its slide today helped by a weaker US Dollar and a rebound in Oil prices. Having broken the ascending trendline on Friday the selloff has gathered a bit more momentum but faces some technical hurdles ahead.Despite more uncertainty from OPEC+ today Oil prices did bounce just below the $75 a barrel mark. WTI was up around 1.9% at the time of writing which is bit surprising given rumors today that OPEC+ is still having disagreements regarding quotas for 2024. The rumors also stated a potential delay…
© Reuters Charlie Munger dies at 99 Berkshire Hathaway (NYSE:) announced Tuesday afternoon that vice chairman Charlie Munger has died. He was 99 years old. The company said it was advised by members of Mr. Munger’s family that he peacefully died this morning at a California hospital. “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Warren Buffett, CEO of Berkshire Hathaway, said. Munger was long considered Mr. Buffett’s right-hand man. Source link
Canada is about to drop its November labor market update! What are the markets expecting and will we get big intraday moves on the Canadian dollar? If you haven’t done your homework yet on the Loonie, here are the details you gotta be familiar with before working on your CAD risk management plan. 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
I’m not terribly surprised by the 2.1 bps tail in the 7-year sale today but it certainly got the market’s attention. Yields had fallen sharply into the sale and are down 50 bps since last month’s sale so there’s some natural reluctance to chance. Still, the soft demand highlights the importance of the Treasury market in FX and equities. The US dollar has bounced somewhat since the sale and the close of European markets. US equities are now back to flat as well, giving up the Waller rally.EUR/USD managed to crest above 1.10 but has since sagged to 1.0982.EURUSD 10…
Share: The Canadian Dollar is seeing some lift on Tuesday as Crude Oil rebounds from early week swing low. Current Account figures from Canada and US quarterly GDP update on the docket for Wednesday. The US Dollar is down across the board on Tuesday, helping to bolster the Loonie. The Canadian Dollar (CAD) is continuing to grind higher against the US Dollar (USD), driven by a general decline in the Greenback and a slight boost from Crude Oil prices recovering from Tuesday’s swing low. The economic calendar is strictly mid-tier on Tuesday. Despite mixed results for US figures…
Mario Tama/Getty Images News Major market averages were mostly unchanged on Tuesday, while Treasury yields remained near even. Early on and the S&P 500 (SP500) was -0.1%, the Nasdaq Composite (COMP.IND) was -0.1%, and the Dow (DJI) was flat. The 10-year Treasury yield (US10Y) rose 1 basis point to 4.40% and the 2-year yield (US2Y) fell 2 basis point to 4.86%. “We have the 7yr auction in the day ahead too to help take the market pulse,” ING said. “So far though, the break below 4.5% has been pivotal. It still feels like we don’t have enough to gap lower…
GOLD OUTLOOK & ANALYSISFalling real yields make gold more attractive to investors.US economy in focus later today.Bearish/negative divergence on daily gold chart could bring bears back into the picture.Elevate your trading skills and gain a competitive edge. Get your hands on the GOLD Q4 outlook today for exclusive insights into key market catalysts that should be on every trader’s radar. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL BACKDROPGold prices have been strengthening largely on the back of the bearish narrative associated with the US dollar in 2024. Markets have been swiftly ticking higher but may be…
2/2 © Reuters. FILE PHOTO: Palestinians walk among the rubble, as they inspect houses destroyed in Israeli strikes during the conflict, amid the temporary truce between Hamas and Israel, at Khan Younis refugee camp in the southern Gaza Strip November 27, 2023. REUTERS/M 2/2 By Arafat Barbakh and Ibraheem Abu Mustafa KHAN YOUNIS, Gaza Strip (Reuters) – Carting heavy cans of water through muddy streets, searching mounds of rubble for clothes, mourning lost relatives and homes – Gazans reprieved from Israeli bombardment during the truce with Hamas were still facing the daily hardships of war. At a water station in…
In the fast-paced world of financial markets, traders are constantly on the lookout for tools and strategies that can help them make more informed decisions and maximize their profits. One such tool that has gained significant attention in recent years is the Perfect Trendline MT4 Indicator. In this article, we will delve into the intricacies of this powerful indicator, exploring its features, benefits, and how it can be a game-changer for traders. Understanding Trendlines Before we dive into the Perfect Trendline MT4 Indicator, it’s essential to grasp the concept of trendlines. Trendlines are graphical representations of price movements in a…