Author: FX

The USD is closing mixed on the day with the USD moving the most vs the CAD after stronger Canada GDP data. The USDCAD fell by -0.93% and closed below its 100 and 200 day MAs above and below the 1.3900 level (see technical post here).The USD was also lower vs the AUD (by -0.44%). For that currency pair, it rose around 1.4% this week – the biggest mover for the week (see post here).The other changes vs the major currencies were more modest on the day:EUR: UnchangedGBP -0.01%CHF +0.11%NZD -0.23%As mentioned, Canada delivered a much stronger-than-expected November jobs report,…

Well, that was quite a week! If you blinked during the first trading days of December, you might have missed the dollar’s worst multi-day tumble since September—triggered by some surprisingly awful U.S. employment data that had traders scrambling to price in more Fed rate cuts. Meanwhile, down under, the Australian dollar pulled off one of the week’s most impressive comebacks, shrugging off a disappointing GDP miss to finish as the top-performing major currency. The real plot twist? Friday’s employment surprises on both sides of the North American border. Canada’s jobs report absolutely crushed expectations, flipping the loonie from…

U.S. stocks ended the day modestly higher, supported by steady gains in large-caps and renewed strength in several growth names. The Dow Jones Industrial Average rose 104.05 points (+0.22%) to 47,954.99, while the S&P 500 added 13.28 points (+0.19%) to 6,870.40. The Nasdaq Composite outperformed, climbing 72.99 points (+0.31%) to 23,578.13.Sector performance was mixed, with leadership in technology-adjacent groups and pockets of consumer strength, while more defensive or rate-sensitive sectors lagged. The S&P industry components ranged from modest gains to sharp declines, reflecting uneven risk sentiment heading into next week’s key economic events.On the corporate front, several high-profile stocks staged…

The Federal Reserve will announce or interest rate decision on Wednesday at 2 PM ET. Fed chair Powell will speak at 2:30 PM ET.The Fed decision is 1 of 4 central bank decisions next week. The reserve Bank of Australia will announce their rate decision on Monday night in the US (10:30 PM ET) The expectations are for no change at 3.60%. The Bank of Canada – coming off a 2nd consecutive strong employment report – is also expected to keep rates unchanged will announce on Wednesday at 9:45 AM (rate is currently at 2.25%). Finally, the Swiss National Bank…

Adobe reports earnings next Wednesday, with expectations calling for EPS of $5.39 on $6.11 billion in revenue. That compares with $4.81 and $5.61 billion a year ago—an increase of 12% in EPS and 8.9% in revenue. Those are solid year-over-year gains, especially given the stock’s performance this year.Shares jumped 5.67% today (up $18.64 to $347.47), marking the largest one-day gain since April 8. Even with that surge, Adobe remains down -21.87% year-to-date. From the January 2024 high of $638.25, the stock fell more than 50% to a low of $311.58, a decline that has left many traders wondering whether the…

The Canadian Dollar (CAD) found room on the high side on Friday, climbing nearly 0.9% and locking in a second straight week of firm gains for the Loonie. The CAD has gained nearly 2.2% bottom-to-top against the US Dollar (USD) since hitting seven-month lows in early November.Canadian labor data came in broadly stronger than expected in November, with the Canadian economy adding far more jobs than expected. The Canadian Unemployment Rate tumbled to its lowest level since August 2024. US Personal Consumption Expenditures Price Index (PCE) inflation data from September also came in slightly better than expected, helping to keep broad-market…

The Dow Jones Industrial Average (DJIA) made slim gains on Friday, climbing another 150 points and ending a moderately bullish week near the 48,000 handle. US Personal Consumption Expenditures Price Index (PCE) data, despite being from September, helped bolster market confidence that the Federal Reserve (Fed) will be delivering a third straight interest rate cut on December 10.The Standard & Poor’s 500 (SP500) also climbed around 0.3% on Friday, putting the broad-market index on pace to challenge all-time highs.PCE inflation cools slightly, bolsters Fed rate cut hopesCore PCE inflation ticked down to 2.8% YoY in September, while the monthly figure…

We have been monitoring the SP500 (SPX) to reach approximately 7120 in an Elliott Wave (EW) Principle impulse (five-wave) move upward from the early April lows for a more significant top for many months. Within this uptrend, we have recently been tracking a minor 4th wave correction since early November, which we found to have ended late November:“…Therefore, November 12 was the Wave b of Wave 4, and last Friday ended the W-c of the (green) W-4 correction. Additionally, the correction this month best qualifies as a (double) zigzag, while the April 10-21 correction best qualifies as a flat, which…

Prior month $11.01 billion revised from $13.09 billionConsumer credit for the month of October $9.18 billion versus $10.50 billion expected This article was written by Greg Michalowski at investinglive.com. Source link

Gold (XAU/USD) advances during the North American session on Friday, poised to finish the week almost flat above the $4,200 figure as market participants brace for the Federal Reserve (Fed) monetary policy meeting next week. At the time of writing, XAU/USD trades at $4,216 after bouncing off daily highs of $4,259.XAU/USD trades flat; markets eye Federal Reserve’s expected rate cutThe week ends with the release of the Fed’s preferred inflation gauge, the Core Personal Consumption Expenditures (PCE) Price Index for September, which remained virtually unchanged, slightly closer to the 3% threshold than the Fed’s 2% goal. Although the print would…