Author: FX
The World Cup is in the USA, Canada and Mexico this year. The World Cup draw is underway now and the first three matchups drawn are:Mexico-KoreaCanada-SwitzerlandUSA-AustraliaThose are fairly good draws for the hosts in what’s sure to be a fun summer. But while countries compete on the football pitch, they also compete in the world economy. The best way to measure that is often in the foreign exchange market.So with that, here are the competing currencies.MXN/KRW 10-yearsCAD/CHF monthly, 10 yearsAUD/USD monthlyWe all know Canada will win the real World Cup trophy, but which is going to be the best-performing currency…
The Australian Dollar (AUD) extends its advance against the US Dollar (USD) on Friday, with AUD/USD climbing to its highest level since September 18 as traders are almost certain the Reserve Bank of Australia (RBA) will leave interest rates unchanged on December 9.At the time of writing, AUD/USD is trading around 0.6637, on track for a second straight weekly gain.The fundamental backdrop remains supportive for the Aussie, with markets also beginning to factor in the possibility that the RBA could revisit tightening next year if domestic conditions stay firm.This stands in sharp contrast to the Federal Reserve’s (Fed) dovish outlook,…
Recall last week, Baker Hughes oil rig count fell -12. Today they rose by half of that with a gain of 6 to 413. The natural gas rates fell -1 to 129. The total rigs for the week rose 5 to 549. Crude oil is trading near highs for the day up $0.60 41% at $60.28. The low price reached $59.42. The high prices and $60.50. For the week, the price is up 3.11%. This article was written by Greg Michalowski at investinglive.com. Source link
Gold (XAU/USD) erases earlier gains on Friday as a firmer US Dollar (USD) tempers bullish momentum, with the metal oscillating within the familiar range that has defined price action this week. At the time of writing, XAU/USD is trading near $4,215, with dovish Federal Reserve (Fed) expectations continuing to offer a supportive backdrop, helping limit downside despite the intraday pullback.The US Dollar bounced off earlier lows after the delayed US Personal Consumption Expenditures (PCE) report for September offered no surprises. Core PCE, the Fed’s preferred gauge, rose 0.2% MoM, matching expectations, while the annual rate eased to 2.8% from 2.9%.Headline…
Shares of Netflix (NFLX) are under pressure, dropping over 3% following the announcement that it has reached a deal to acquire Warner Bros. Discovery (WBD). The acquisition is priced at $30 per share, valuing the total deal at $82 billion.The negative reaction from investors isn’t necessarily about the quality of the WBD asset, but rather what the purchase signals about Netflix itself. This move effectively admits that the company’s organic growth engine has stalled; to expand now, they are forced to buy revenue rather than build it. Netflix has historically commanded a premium valuation over its competitors because it possessed…
The EURUSD is trading to new session lows and in the process is breaking below 3 technical levels:100 day moving average at 1.1644100 hour moving average at 1.1641The broken 38.2% retracement at 1.16398The combination of those 3 now set a ceiling level (risk level) for traders looking for more downside. Stay below keeps the sellers in firm control. Move above and there could be some disappointment on the failed break.In the video above, I outline the price action and technical levels in play. This article was written by Greg Michalowski at investinglive.com. Source link
EUR/GBP remains under pressure on Friday as the Euro (EUR) continues to soften against a broadly supported British Pound (GBP). Sterling has held firm since the UK Autumn Budget, even as markets maintain strong expectations for a Bank of England (BoE) interest rate cut at the December 18 meeting.At the time of writing, EUR/GBP is trading around 0.8729, hovering near its lowest level since late October and on track for a third straight weekly decline.From a technical perspective, EUR/GBP has been under steady downward pressure since topping out near 0.8865 in mid-November, a level that marked the year-to-date high and…
Every trader eventually has one of those days when the market feels like it is out to get you. Nothing clicks. Every setup flops. You start wondering if your chart woke up in a bad mood. When that happens, most people do one of two things: They either step back to reset or push harder and try to force a win. If you usually choose the second path, there is a good chance you are forcing your trades. Forcing trades shows up in different ways. Maybe you take setups that do not meet your rules. Maybe you trade bigger than…
Meanwhile, the stats office expects the Italian economy to grow by 0.8% in 2026 and that reaffirms their previous estimate. So, no change on that front to the outlook for next year. This article was written by Justin Low at investinglive.com. Source link
Statistics Canada will release its Labour Force Survey on Friday, and markets are bracing for a weak print. The Unemployment Rate is expected to tick higher to 7% in November, while the Employment Change is forecast to come in flat after a nice gain in October.A weaker report could strengthen the case for the Bank of Canada (BoC) to continue its easing cycle next week after cutting its policy rate by 25 basis points to 2.25% at its October 29 gathering, following the September rate reduction.The Bank of Canada cut its benchmark rate by 25 basis points to 2.25% in…