Author: FX

The year continues to wind down but there’s some important economic data to set the stage for 2023 coming up today.First up at the bottom of the hour is the Canadian November CPI report and US current account data. The Canadian numbers are expected to show inflation flat in the month in an important sign of progress for the BOC. Current pricing shows a 41% chance of a BOC hike on Jan 25 with the remainder pricing no change.The highlight on the US economic calendar is at 10 am ET with December consumer confidence, which is expected to bump up…

If you look at the line-up of traders in Wall Street trading firms, you’re likely to find more than a handful of former Division I athletes on the floor. Some companies, like SMB Capital (I’m sure you’ve heard of them!) have even been rumored to favor former athletes. What’s the connection between being an athlete and trading? I believe it has everything to do with the qualities and the mindset that these individuals have. Here are five traits that I think successful traders share with elite athletes: 1. They are competitive Top athletes are highly competitive by nature, and with this mindset…

The Canadian Dollar can’t hold sub-1.36 gains against the USD. Economists at Scotiabank look for more range-trading in the short-term at least. Shorter-term price signals are mixed for USD/CAD “A weak (technically bearish) close for the USD yesterday should – on the face of it – lend more weight to pressuring support around 1.36 but intraday price action suggests a firm floor and, possibly, a bullish reversal developing around the overnight failure to extend much below the figure area once again.” “Support is 1.3590/00.” “Resistance is 1.3665/75.”   Source link

USD/CAD Key Points: Recommended by Zain Vawda Get Your Free USD Forecast MOST READ: Canadian Dollar Price Action Setups: USD/CAD, CAD/JPY, EUR/CADUSD/CAD FUNDAMENTAL OUTLOOKUSD/CAD attracted buyers below the 1.3600 handle with the support area around 1.3580 holding firm. The Canadian retail sales data were positive for October with growth of 1.4% while the advanced estimate for November hinted at a further economic slowdown ahead of 2023.Retail Sales Breakdown for October MoMSource: Statistics CanadaYesterday’s advanced data out of Canada (November estimate) provided a further sign of an economic slowdown as Canadian retail sales decreased 0.5% in November. Statistics Canada was keen…

TECO 2030 finalizes €5M agreement in HyEkoTank Project Source link

There are two strategies that are at the opposite sides of the spectrum – trend following strategies and mean reversal strategies. The two strategies seem like exact opposites. Trend following pertains to looking for markets that are trending in a certain direction and trading in the direction of the trend. Mean reversal strategies on the other hand is about looking for markets that are either overbought or oversold and trading against the current direction with the belief that price would soon revert back to its mean. Trend following strategies tend to produce high probability trade setups because traders are often…

The USD Index stuck at 103.50 bottom. Stocks pick up overnight, after they were pummeled Tuesday by the BoJ’s surprise hawkish tweak in its yield curve control. Yields: JGB 2-year rose above zero for the first time since 2015. 10-year Treasury yield cheapened 11 bps to hit 3.706%. The curve inversion unwound another 10 bps on the day to -57.9 bps and compares to the -84 bps two weeks ago. EUR -jumps 20 pips at the EU open higher to 1.0630. German GfK consumer confidence improved to -37.8, a tad better than anticipated. All in,…

Eurostoxx +0.3%Germany DAX +0.3%France CAC 40 +0.3%UK FTSE +0.2%Spain IBEX +0.3%This mirrors the mood in US futures, which sees S&P 500 futures up 0.3% alongside Nasdaq futures and Dow futures – which are also up 0.3% on the day so far. I’d still warn about the technical outlook for the S&P 500 though, and that is one to watch for equities sentiment heading into year-end. For now, the 50.0 Fib retracement level at 3,796 is the line in the sand that is being drawn:ADVERTISEMENT – CONTINUE READING BELOW Source link

The Czech National Bank (CNB) is expected to maintain its policy rate unchanged in its meeting today. Economists at Commerzbank expect the central bank to convince the market of its strategy. CNB will only consider a further rate hike if inflation turns out to be more stubborn  “CNB will likely rely on global as well as national inflation easing next year and will therefore most probably keep its key rate unchanged at 7% today.” “Since the CNB had expected 18.8% for November anyway it might use the lower 16.2% as an argument to justify its rate decision today. As a…

First Farmers & Merchants declares $0.23 dividend Source link