Author: FX
S&P 500 OUTLOOK:S&P 500 falls as U.S. Treasury rates skyrocket following strong U.S. economic dataSolid private sector payrolls and services sector activity data reinforce expectations for additional monetary tighteningThe S&P 500 appears to be carving out a double-top pattern. If confirmed, this technical formation could portend losses for the equity index Recommended by Diego Colman Get Your Free Equities Forecast Most Read: Q3 Top Trade: S&P 500 Vulnerable to Pullback on Weak Fundamentals and Frothy MarketsU.S. stocks sold off on Thursday undercut by soaring U.S. yields, which moved sharply higher across the Treasury curve. The 2-year note, for instance, surged…
JOLTS job openings declines in MayPrior month 10.103M revised to 10.320MThe number of job openings decreased to 9.8 million on the last business day of May, a drop of 496,000 from April.The job openings rate declined by 0.3 percentage points to 5.9%.Health care and social assistance saw the largest decrease in job openings (-285,000), followed by finance and insurance (-139,000), and other services (-78,000).Job openings increased in educational services (+45,000), state and local government education (+37,000), and the federal government (+24,000).The number and rate of hires in May were mostly unchanged at 6.2 million and 4.0%, respectively. There was an…
Share: Today’s instrument is the Tilray Inc., a company that engages in the research, cultivation, production, marketing, and distribution of medical cannabis products, and whose stock is traded in Nasdaq exchange under the ticker TLRY. Looking at the TLRY’s chart, we can see that it is in a downtrend, and it was lastly traded at around $1.65. Today, if it manages to hold the price above the support level which is located at around $1.50, then we could expect it to rise towards the soft resistance level at around $1.80, and if it breaks through it then the…
Gold (XAU/USD) Price, Charts and Analysis:Gold prices remain stuck with the prospect that global interest rates have further to rise.This week’s FOMC minutes still have markets looking for a US increase this month.Against that backdrop, non-yielding assets will struggle. Recommended by David Cottle Download the New Q3 Forecast Guide for Gold by the DFX Team Gold prices won back a little lost ground on Thursday, but the market remains beleaguered by a strong belief that global interest rates have further to rise, including most importantly those in the United States.Higher interest rates weigh against non-yielding assets like gold. Investors are…
bkindler The Organization of the Petroleum Exporting Countries is hoping to give out more membership cards soon, with only 13 countries currently part of the oil producer group. Haitham al-Ghais, secretary-general of OPEC, wouldn’t reveal the names of the candidates, but mentioned some recent visits to oil-producing countries while cautioning against drawing too much from the information. “I was in Malaysia, I was in Brunei. I was in Azerbaijan, I was in Mexico,” he said following an OPEC conference in Vienna. When asked about the requirements for becoming an OPEC member, al-Ghais said: “They have to be a net [oil]…
Looking for USD-related trades ahead of Uncle Sam’s jobs data releases on Thursday and Friday? I gotchu! Take a look at USD/CHF hanging out near a trend support: USD/CHF 15-min Forex Chart by TV In case you missed it, the FOMC meeting minutes released yesterday showed that “almost all” Fed members voted for the June rate hike pause, while “some” favored raising the Fed’s interest rates by another 25 basis points. Meanwhile, SNB governing board member Andrea Maechler said earlier today that further rate hikes “cannot be ruled out.” The hawkish Fed meeting minutes didn’t seem to do the dollar…
Expects inflation to fall markedly but it will be hard for borrowers stillAs of now, he also surely can’t give a date on when they may be stopping the tightening cycle anyway. So, to talk about rate cuts is a bit premature and a little too far down the road – not least when inflation remains as high as it is. Source link
I’m seeing a textbook correction play on the 4-hour chart of silver! Will resistance keep holding? As you can see from the 4-hour chart below, the commodity price made lower highs connected by a falling trend line. Silver (XAG/USD) 4-hour Chart by TV Now this resistance zone has been holding since mid-May, so it might still serve as a ceiling this time. To top it off, the trend line coincides with a former support area around $23.00, the 50% Fibonacci retracement level, and the 100 SMA dynamic inflection point. Talk about confluence, huh? The 100 SMA is below the 200…
Share: USD/CAD justifies 21-EMA breakout to refresh three-week high. Risk-aversion, hawkish Fed bets underpin US Dollar run-up, weigh on Oil price. Upbeat oscillators suggest further upside towards 50-EMA, support-turned-resistance line confluence. Mid-tier US, Canada statistics eyed for clear directions past 1.3360. USD/CAD picks up bids to refresh the highest levels in three weeks around 1.3305 heading into Thursday’s European session. In doing so, the Loonie pair takes clues from the market’s broad risk aversion which propels the US Dollar while weighing on the prices of commodities and antipodeans. It’s worth noting that the grim concerns about China, one…
Crude Oil, WTI, OPEC+, Fed, ECB, China, API, OVX, Crack Spread – Talking PointsCrude oil is pushing to the top end of the range going into the Thursday sessionOPEC+ is talking up its intentions to get the result they desire from pricingA sizable drop in inventory added to positive sentiment. Where to for WTI? Recommended by Daniel McCarthy Get Your Free Oil Forecast Crude oil is firming going into Thursday’s trading session after notable gains overnight in the wake of the OPEC+ gathering in Vienna.Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, said in reference to oil price stability, “we…