Author: FX
Crude oil futures are settling at $58.95. That’s up $0.31 or 0.53%. The high price reached $59.64. The low price was at $58.37.The EIA weekly inventory data showed larger than expected builds:Crude oil 0.574 million versus -0.821 million estimate.Distillates +2.059 million versus +0.707 million estimate.Gasoline 4.518 million versus 1.468 million estimate.Technically, the price trading mostly above its rising 100 hour moving average at $59.07, but is settling below that level. The 200 hour moving average comes in at $58.65 and represents a target on the downside that would need to be broken to give the sellers more control.With inflation a…
Gold price declines some 0.20% on Wednesday as US economic data, although mixed, reaffirmes traders’ expectations for a rate cut next week at the Fed’s meeting. XAU/USD trades above $4,200 after bouncing off daily highss of $4,240.Bullion declines after mixed US indicators, as fresh central bank buying reinforces speculation of a December rate cutEarlier, data from ADP showed that private companies cut jobs in November amid an ongoing economic slowdown, as revealed by the latest reading of the ISM Manufacturing PMI data.Meanwhile, business activity in the services sector remained stable, reported the ISM. Services businesses account for more than two-thirds…
The US stock market experienced a captivating day of trading, marked by significant fluctuations across different sectors, highlighted by the contrasting performances of technology and auto manufacturing stocks.🔍 Sector OverviewTechnology Sector: The tech sector encountered a tough day, with notable declines in software and semiconductor stocks. Microsoft (MSFT) led the downward trend with a significant drop of 2.35%. Other tech giants like NVIDIA (NVDA) and Micron (MU) also saw declines, slipping 0.86% and 1.79%, respectively. These downturns reflect a cautious sentiment among investors towards high-growth tech stocks amid broader market uncertainties.Auto Manufacturing: In stark contrast, the auto sector shone brightly,…
So the U.S. Federal Reserve ended “QT” on December 1, 2025. What does that actually mean for currency traders? No, the U.S. central bank is not ending “Quality Time” because FOMC members are divided on their policy biases. Instead, after three years of draining money from the financial system, the Fed is just hitting pause on its quantitative tightening (QT) program – one of its most powerful monetary policy tools. Let’s break down what quantitative tightening is, why the Fed stopped it, and what it could mean for the U.S. dollar and bond markets. The Basics: What Just Happened What…
Private employers shed 32,000 jobs in November, the Automatic Data Processing (ADP) reported on Wednesday. This reading followed the 47,000 increase (revised from 42,000) recorded in October and came in worse than the market expectation of +5,000. During the period, the annual pay was up 4.4%.Assessing the report’s findings, “hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment,” said Dr. Nela Richardson, chief economist, ADP. “And while November’s slowdown was broad-based, it was led by a pullback among small businesses.”Market reaction to ADP Employment Change dataThe US Dollar stays under pressure following the…
RHJ/iStock via Getty ImagesContango Ore (CTGO) said late Tuesday its Johnson Tract critical metals project in Alaska was accepted as a “covered project” under the U.S. government’s FAST-41 permitting framework. The designation is expected to bring enhanced inter-agency coordination, predictable timelines, improved transparency and accountability to Source link
In trading, fear comes from the increased possibility of losing money, which can happen anytime for a trader. Experiencing fear is normal. Fear is considered as a basic survival mechanism. Without fear, we won’t be able to recognize danger and respond appropriately. The problem with fear comes when we let the perceived danger of stopping out or losing money scare us into making a decision that goes against good trading habits and our pre-determined trading plan. Let’s say you are holding a long EUR/USD position. You bought it at 1.0850, and price is currently at 1.0835, so you are down 15…
Prior 52.3Final Composite PMI 51.2 vs 50.5 prelimPrior 52.2Key findings:Marginal expansion of business activity in November Fastest fall in employment since February Prices charged inflation lowest since January 2021Comment:Tim Moore, Economics Director at S&P Global Market Intelligence, said: “November data revealed an abrupt end to the steady improvement in order books seen since the summer. Unfavourable demand conditions were signalled in both domestic and export markets. Lower workloads led to a renewed slowdown in business activity growth across the UK service economy, with the latest expansion much softer than the post-pandemic trend. Moreover, staffing numbers were trimmed to the greatest…
Gold (XAU/USD) hangs near the lower end of the daily range during the first half of the European session on Wednesday, though it manages to hold above the $4,200 mark amid mixed cues. A generally positive tone around the equity markets is seen as a key factor acting as a headwind for the safe-haven precious metal. Furthermore, bulls opt to wait for important US macro releases for more cues about the Federal Reserve’s (Fed) rate-cut path and placing fresh bets around the non-yielding yellow metal.In the meantime, firming expectations that the US central bank will lower borrowing costs at its…
Earnings Snapshot: Okta tops Q3 estimates; raises full-year outlook and issues strong FQ4 forecast Source link