Author: FX
Indices Talking Points:All of the S&P 500, Nasdaq 100 and Dow Jones ran into key supports to start this week and after indecision yesterday, a strong bounce developed today.While we’re late in the month of December and it’s been a hard road thus far, there does remain the possibility of a Santa Rally, particularly considering the prospect of window-dressing going into the end of 2022. The S&P 500 current all-time-high was set in the first week of 2022 trade, might a related dynamic be in play for 2023?The analysis contained in article relies on price action and chart formations. To…
The price of WTI crude oil futures for February delivery is closing up $2.06 or 2.68% at $78.29.The high price reached $78.46. The low price was at $75.82. Helping to push the price higher was the weekly oil inventory data which showed a drawdown of crude stocks of -5.894M barrels which was much higher than the -1.657M estimate. Gasoline stocks did rise however by 2.53M which was higher than the 2.140M estimate.There is a cold front sweeping across the US as well which has prices moving higher as well. Crude oil moved higher today help by inventory dataThe move to…
Looking for potential risk-off plays on the longer-term time frames? We’ve got you covered with these setups on GBP/CHF and META! Better keep close tabs on these potential inflection points: GBP/CHF: Daily Forex Chart Heads up for a potential turn back to the longer-term trend on GBP/CHF! After bouncing hard back in September from the 1.02 handle, GBP/CHF has been steadily consolidating through October and November around 1.13. On the daily chart above, we can see that this area aligns with several technical signals that could be drawing in tactical sellers, including falling 100 and 200 simple moving averages, as…
Data released on Wednesday in Canada showed the annual inflation rate dropped from 6.9% to 6.8%. Analysts at CIBC, point out that inflation is easing but is a slower progress than what probably the Bank of Canada was hoping for. Key Quotes: “The 6.8% headlinethanual rate was only a tick lower than the prior month and slightly above the consensus expectation (6.7%). Of greater concern to policymakers, however, is that the easing in core measures of inflation (including CPI-trim, median and ex food/energy) appears to have stalled at levels still above those that would be consistent with a 2% inflation target.…
Gold Talking Points:Gold prices are fast approaching last week’s high and if bulls can force a break, we will be looking at fresh five-month-highs for Gold prices.There is some considerable resistance sitting overhead, however, and with USD already in a weakened state the question remains for how long might that breakout be able to run should those levels come into play.The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section. Recommended by James Stanley Get Your Free Gold Forecast The year started with…
Virtus WMC International Dividend ETF declares quarterly distribution of $0.1577 Source link
© Reuters. Workday (WDAY) announces ‘surprising’ management changes By Sam Boughedda Workday (NASDAQ:) announced after the close on Tuesday that it has appointed Carl Eschenbach as co-CEO, effective immediately. The company said in a statement that Eschenbach would remain on the Workday Board of Directors, which he has been a member of since 2018, and will serve as co-CEO alongside Aneel Bhusri, Workday’s co-CEO, co-founder, and chair, through January 2024, Workday’s fiscal year-end. In addition, Chano Fernandez has stepped down as co-CEO and as a member of the company’s board, effective immediately. Following the announcement, Citi analysts said: “As part of…
The year continues to wind down but there’s some important economic data to set the stage for 2023 coming up today.First up at the bottom of the hour is the Canadian November CPI report and US current account data. The Canadian numbers are expected to show inflation flat in the month in an important sign of progress for the BOC. Current pricing shows a 41% chance of a BOC hike on Jan 25 with the remainder pricing no change.The highlight on the US economic calendar is at 10 am ET with December consumer confidence, which is expected to bump up…
If you look at the line-up of traders in Wall Street trading firms, you’re likely to find more than a handful of former Division I athletes on the floor. Some companies, like SMB Capital (I’m sure you’ve heard of them!) have even been rumored to favor former athletes. What’s the connection between being an athlete and trading? I believe it has everything to do with the qualities and the mindset that these individuals have. Here are five traits that I think successful traders share with elite athletes: 1. They are competitive Top athletes are highly competitive by nature, and with this mindset…
The Canadian Dollar can’t hold sub-1.36 gains against the USD. Economists at Scotiabank look for more range-trading in the short-term at least. Shorter-term price signals are mixed for USD/CAD “A weak (technically bearish) close for the USD yesterday should – on the face of it – lend more weight to pressuring support around 1.36 but intraday price action suggests a firm floor and, possibly, a bullish reversal developing around the overnight failure to extend much below the figure area once again.” “Support is 1.3590/00.” “Resistance is 1.3665/75.” Source link