Author: FX
Share: The Canadian Dollar spent Thursday mostly hung in place on the charts before catching a moderate bid. Canada Raw Materials and Industrial Product Price beat expectations, but the market is focused elsewhere. Fed Chair Jerome Powell notes that policy is restrictive, but more could be needed, dropping the USD. The Canadian Dollar (CAD) is catching a late break against the US Dollar (USD) as the Greenback recedes, walking back some of yesterday’s declines that saw the Loonie drop to its lowest prices against the USD since the start of October. Canada Industrial Product Prices and Raw Materials…
BMO Capital Markets’ US Strategy Comment report, published Wednesday, suggested that Year Two of the bull market should yield solid gains in a less volatile environment. The S&P 500 increased by 21.6% in the first year of this bull market, slightly below the average of previous years but “quite orderly” given the daily price change volatility. The index has historically gained an average of 11.1% during the second year of bull markets, much lower than the 38.3% average increase seen in the first year. Price returns tend to be substantially less volatile during the second year based on daily price…
OIL PRICE FORECAST:Oil Struggled in the European Session as Market Participants Weighed the Prospects of the US-Venezuela Deal.OPEC Remains Silent Following Iran’s Calls for an Oil Embargo.IG Client Sentiment Shows Traders are 68% Net Long on WTI. A Sign of Further Downside Potential Given the Contrarian View to Client Sentiment Adopted at DailyFX?To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section.Most Read: What is OPEC and What is Their Role in Global Markets?Oil prices spiked higher yesterday following calls from Iran regarding an Oil embargo put market participants on alert. However, a…
© Reuters Bitcoin Crosses Crucial Psychological Benchmark, Here’s What’s Next: Analyst U.Today – Prominent crypto analyst and trader Ali Martinez has taken to the X social media platform (formerly popular under the name Twitter) to share what may be good news for holders. Martinez tweeted that the crucial psychological mark at $27,900 — this is the short-term holder cost basis. Should Bitcoin stay higher than this important price level, short-term holders of BTC who were previously in low profits may be back in profit then, according to the tweet. This could mean that the market sentiment is changing to bullish,…
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: Economists at Deutsche Bank expect the S&P 500 Index to close the year near current levels. The typical pullback underway can extend With widespread expectations that this current cycle was ending, a positioning squeeze was a key driver of the most recent rally. Now, after the squeeze, there is a tug of between factors imparting resilience and recessionary forces. Near term, with a number of potential negative catalysts, the typical pullback underway can extend. Further out, the question is whether growth and inflation surprises can continue. We see the bar low for surprises on growth, but not for…
Nokia in charts: Sales decline across all segments in Q3; North America sales down 45% Y/Y while India sales doubled Y/Y Source link
Stock markets have remained underwater through the Asian part of the session, and European as well as US futures are in the red, as markets eye developments in the Middle East. The Israel-Hamas war continued to shake the markets. The explosion at a Gaza hospital on Tuesday, and the failure of diplomatic efforts to bring all sides together for negotiations, added to the increasingly tense tone and the threat of a widening in the conflict. Treasury yields have backed up to 4.958% and the 10-year Bund yield is eyeing the 3% mark, as oil prices…
POUND STERLING ANALYSIS & TALKING POINTSSouring risk sentiment weighs on GBP.Fed Chair Powell speech under the spotlight later today.Key technical break could see GBP/USD slip further.Elevate your trading skills and gain a competitive edge. Get your hands on the British Pound 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 GBP Forecast GBPUSD FUNDAMENTAL BACKDROPSticky UK CPI earlier this week was not enough to maintain the pound’s turnaround as geopolitical tensions in the Middle East remains the dominant theme at present. Diplomatic efforts to address…
Spot gold has found support from a key inflection point! Think XAU/USD is ready to extend its uptrend? We’re looking at what’s happening in the 15-minute chart: XAU/USD 15-min Forex Chart by TradingView If you’ve just tuned in to the markets, you should know that traders are mostly staying away from “risky” bets over a lot of uncertainty. Global leaders haven’t found a workable solution to the current conflict between Israel and Hamas. Global bond yields also remain elevated, which points to lower investor confidence and higher borrowing costs for the major economies. Last but not least, inflation reports have…