Author: FX

US Dollar, DXY Index, Fed, ECB, Euro, EUR/USD – Talking pointsThe US Dollar has eased after a stellar rally overnightTreasury yields are on the march again, underpinning the DXY IndexIf the US Dollar contuse to gain, how low will EUR/USD go? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The US Dollar rallied again overnight after hawkish comments from Boston Fed President Susan Collins highlighting that interest rates will need to be lifted and the extent of the rises will be data dependent.Better-than-expected jobless claims also…

ATHENS (Reuters) – Greece’s newly-appointed transport minister said he was taking over on Thursday with a mandate to investigate the country’s deadliest train crash, to modernize an ailing railway system and to restore safety in train travel. “It is a very heavy responsibility,” Giorgos Gerapetritis told reporters during handover at the ministry. The government has faced harsh criticism for the state of its railway system since an intercity train collided head-on with a cargo train on Tuesday night, killing at least 46 people, many of them students in their 20s, and injuring dozens. “We are going through days that are…

Implied Fed funds futures extended higher after the data releases that were exactly what policymakers did not want to see. The market remains priced for a 25 bp hike on March 22, with some upside risk for a 50 bp. And higher for longer remains the operative stance, with a peak of 5.5% now seen for September. At the start of February, before the hot January jobs report, the market was priced for a 4.89% peak in June. US initial jobless claims fell -2k to 190k in the week ended February 25, again lower than expected, after dropping -3k to 192k…

Trend reversals are excellent trading opportunities. It allows traders to profit from the market as price action starts to reverse against an established trend. This type of market condition provides the possibility that price may reach the starting point of the previous trend or even breach it, resulting in trades with higher yields for traders who were able to capitalize on such trading opportunity. This trading strategy is an example of how traders may observe and anticipate potential trend reversals based on price action and momentum breakouts. Trendlines as Support and Resistance Levels In a trending market, price action would…

Trading Leveraged Products is risky The USD continues to hold onto recent gains despite US10yr Yields hitting to a four-month top of 4.018% and ISM Manu. prices spiking to 51.3, a five-month high, from 44.5 in January. US Stocks closed lower and this has rippled into Asian markets. TSLA day disappointed with no new vehicle announcements, #TSLA shares fell -5.6% after hours. Kashkari was as Hawkish as ever & Fed Fund Futures now have a 50 bp hike at 33% &  a terminal rate in the 5.50%-5.75% range. Overnight: Japanese Capital Spending fell less than anticipated and Consumer Confidence failed to…

Feeling bearish on U.S. equities lately? Stock indices have closed in the red for back-to-back days so far this week, possibly paving the way for another leg lower. Can the NASDAQ bust through this near-term floor and aim for the next support zone? NASDAQ (NAS100) 1-hour Chart by TradingView The equity index is currently stalling at its mid-channel area of interest, after hitting the ceiling at the top of its descending channel. This happened to line up with the 100 SMA dynamic resistance, which is still below the 200 SMA to confirm that bearish vibes are present. Stochastic is also…

Ready for more forex plays? Today we’re checking out the U.S. dollar index’s break-and-retest situation while CAD/CHF edges closer to a major resistance zone. Check them out! CAD/CHF 1-hour Forex Chart by TradingView First up is a nice and simple range play for ya. CAD/CHF is about to hit the .6930 zone that has been a major area of interest for bulls and bears all year. In fact, save for a spike in early January, CAD/CHF hasn’t consistently traded above the level since the start of the year. Will the range hold for another day? Stochastic is saying “a solid…

Looking for more U.S. dollar trades? I gotchu! February was a GOOD month for USD/CHF, as it found bottom at .9060 to jump allll the way to its current .9420 levels. But can USD/CHF bulls keep up the pressure? USD/CHF 1-Hour Forex Chart by TradingView Both the 1-hour chart’s 100 and 200 SMAs are still pointed higher, which can support further buying. But USD/CHF has stalled in a 75-pip range between .9425 and .9350 after a sharp upswing last week. The range’s resistance, in particular, was also a major inflection point back in November and December. And then there’s Stochastic,…

XAUUSD, H4. Gold prices rose, after strong Chinese economic data pressured the US Dollar and boosted speculation of better physical demand from China, but the risk of a US rate hike threatens gold’s outlook. XAUUSD rallied 0.53% to 1836.20 on Wednesday, after hitting a two-month low in the previous two days. After rising nearly 3% in February, the dollar index moved 0.5% lower, making gold bullion cheaper for overseas buyers. Markets are cautiously optimistic for China’s economic recovery following strong data that has seen a dollar rally reverse that boosted gold and riskier assets temporarily. China’s manufacturing activity expanded at…

WTI crude futures are settling the day at $77.69. That’s up $0.64 or 0.83%.Looking at the daily chart, the price is trading in a wedge or triangle.. The upper extreme is near $78.64. The lower extreme is at $73.27. With the price at $77.69 it’s closer to the higher extreme. Breaking above would have traders looking toward the 100 day moving average at $80.49WTI crude oil futures Source link