Author: FX
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EUR/USD boosted by signs of imminent US–EU deal ahead of August 1 deadline.US Durable Goods Orders miss, but jobless claims stay strong, supporting Fed hold expectations.ECB holds rates steady; next week’s focus shifts to key Fed policy decision on July 30.The EUR/USD finished the week up by nearly 1% on Friday, yet ended the daily session flat, following economic data from the United States (US) that was worse than expected, but offset by positive trade news. With the Greenback cutting losses, the pair trades at 1.1741 virtually unchanged.Sentiment remains upbeat as the latest trade news suggests that the US and…
What a week for currency traders! While the dollar spent most of the time nursing wounds from Trump’s Fed-bashing antics, the euro quietly claimed the weekly crown as best performer. Japan’s political soap opera—losing that Upper House majority—had the yen doing its own dance, even as a shiny new US trade deal (15% tariffs, anyone?) tried to steal the spotlight. Meanwhile, ECB officials played it cool, keeping rates steady while everyone held their breath for the August 1st tariff deadline. From Swiss franc safe-haven plays to Aussie dollar trade optimism, currencies told quite the story this week. This Article…
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The broader indices closed higher with the S&P and NASDAQ at record closing levels once again. The Dow industrial average is within 113 points after getting within four points earlier this week before rotating lower. All three major indices closed higher for the week.A snapshot of the closing levels:Dow industrial average up 208.01 points or 0.47% at 44901.92.S&P index up 25.29 points or 0.40% at 6388.64.NASDAQ index up 50.36 points or 0.24% at 21108.32.Russell 2000 up 8.93 points or 0.40% at 2261.06.For the trading week, the indices are also higher led by the S&P indexDow industrial average up 1.26%S&P index…
President Trump touted a preliminary trade deal with Japan earlier this week.Trade terms may be far less agreed-upon than White House officials led markets to believe.The announcement that Japan would invest $550B in US businesses for only 10% of the profits may have been premature.Japanese officials quietly hit newswires on Friday to tamp down market expectations.United States (US) President Donald Trump proudly declared an impending trade deal between the US and Japan earlier this week, touting an arrangement that would see US importers pay a much milder 15% tariff fee on all goods imported from Japan compared to the threatened…
The Dow Jones is clawing back recent losses as investor sentiment continues to climb.Traders continue to bank on an eventual walk back of the Trump team’s sky-high tariff threats.Trade deals remain limited, and the August 1 deadline is approaching fast.The Dow Jones Industrial Average (DJIA) rebounded on Friday, recovering its footing after a mild downturn during the previous session. Q2 earnings broadly beat the street this week, sending most major indexes into record highs, but the Dow Jones grappled with some downside in key overweight stocks, crimping the blue-chip average’s top line.Markets rise on milder-than-expected durables declineHeadline Durable Goods Orders…
Pres. Trump is reiterating comments from earlier in the day as he crosses the Atlantic for his weekend visit in the UK:We will see if we can make a deal with EU on SundayWill be meeting with a lot of people including EU leader .We have a good 50-50 chance of EU deal, 20 different sticking pointsThe EU deal will be the biggest of all if we make it.Will discuss other things with Starmer, Deal is done.Stop the windmill to the EU, criticizing how they look The EU needs to get their act together on immigration.The trip is being described…
Tesla not allowed to test or transport the public, paid or unpaid, in an autonomous vehicle with or without a driver…Shares dip to $312.70. High reached $323.63 today. The price is still above the lower for the day at $308 and still higher on the day, but price is dipping. Taking a look at the hourly chart, the price has been consolidating and displays a classic symmetrical triangle pattern, which is characterized by converging trendlines connecting lower highs and higher lows. This typically signals a period of consolidation before a potential breakout.The price has just moved back below the 200…
Crude oil futures settled at $65.16, down $0.87 on the day.Earlier this week, the price briefly broke below the falling 100-day moving average (blue line on the chart), but each time, downside momentum faded and daily closes returned above that level—indicating a lack of sustained bearish conviction.Heading into the new trading week, sellers would need to push and hold the price below the 100-day moving average to increase the bearish bias. A break below the swing area low at $63.61 would further bolster downside momentum and seller confidence.On the topside, resistance is seen at $66.96, followed by the 200-day moving…