Author: FX
Pres. Trump on a Truth Social post says he will increase tariffs on European cars and trucks next week to 25% citing that they are not fully agreeing to the trade deal. Stocks have come off a bit on the news but they still remain in positive territory. The US dollar has also moved modestly to the upside but remains lower on the day.Recall that the Supreme Court of the United States ruled that the initial tranche of tariffs was unconstitutional, setting the stage for an estimated $160 billion in refunds to importers. The administration has pointed to an alleged…
Bitcoin is pushing higher today, with price action gaining momentum as it breaks above both key short-term barometers—the 100-hour moving average at $76,638 and the 200-hour moving average at $77,267. That upside extension has carried the price to a session high of $78,924, bringing it right up against a critical technical level: the 50% retracement of the 2026 trading range at $78,928.While the move higher is constructive for buyers, it’s also running directly into a dense cluster of resistance. Just above sits a double top from April near $79,500, followed by the psychologically important $80,000 level. In other words, the…
The USD is trading lower today as oil slips back below $100 and Treasury yields edge down. The 10-year yield is off -2.2 bps at 4.367%, while the 2-year is also down -2.2 bps at 3.865%.On the data front, ISM Manufacturing PMI came in weaker than expected but held above the 50 level—keeping the sector in expansion. The report had a mixed tone: employment declined, while new orders and prices moved higher, pointing to ongoing demand alongside persistent cost pressures.In the video above, I walk through the major currency pairs versus the USD—breaking down the technicals that define the bias,…
Tech stocks surge as healthcare faces setbacksThe US stock market today painted a vibrant picture, with technology stocks roaring ahead, while the healthcare sector struggled to keep pace. Investors witnessed a mixed landscape where strategic choices may dictate future gains.📈 Technology Sector: Leading the chargeThe tech sector stood out, bolstered primarily by giants like Microsoft (MSFT), which saw an impressive gain of 1.38%. Oracle (ORCL) led the charge with a stunning 5.05% rise, underscoring renewed investor confidence in software infrastructure. These trends hint at potential growth ahead if this momentum carries on.📉 Highlight on SemiconductorsThe semiconductor space had a mixed…
The video above takes a detailed look of the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD from a technical perspective. On Wednesday, the Fed kept rates unchanged, but the decision revealed a notable divide beneath the surface. There were four dissenters in what was likely Powell’s final meeting as Chair.Hammack, Logan, and Kashkari pushed back on the easing bias, citing ongoing inflation risks. Miran, the most recent Trump nominee, dissented in favor of a rate cut, reinforcing his more dovish stance. The takeaway is clear: the Fed is increasingly split, with the debate shifting toward what comes…
The Japanese Yen (JPY) gives up gains recorded in the early European trade against the US Dollar (USD) during the early North American trading session on Friday. The USD/JPY pair rebounds to near 156.55 after sliding to around 155.50, but is still marginally down.In the early European session, a sudden spike was observed in the Japanese Yen, which was expected to be due to possible Japanese intervention in forex markets. However, there had been no official announcement regarding the same.A stealth intervention by Japan was highly anticipated as Finance Minister (FM) Satsuki Katayama said on Thursday that they are moving…
The Range Filter indicator is a trend-following tool that plots a dynamic line on the price chart, changing color based on the current directional bias. When price moves above the filter line, it shifts to a bullish color (typically green or blue). When price drops below, it flips bearish (usually red). The key difference between this and a simple moving average? It doesn’t move with every candle close. The filter line only adjusts when price action exceeds a calculated range threshold, which means it ignores the small, meaningless wiggles that trap traders using traditional indicators. Think of it this way…
That’s a solid beat on the estimate and it reaffirms the continued resilience in the UK housing market despite the economic and financial uncertainty from the Middle East conflict. The average price of a dwelling in the UK now rises further to £278,880. The annual change for house prices is +3.0%, marking the strongest change since May last year.Nationwide notes that:”Despite the uncertainty caused by developments in the Middle East and the subsequent rise in energy prices, the UK housing market has continued to regain momentum following the slowdown recorded around the turn of the year.This is somewhat surprising given…
Gold prices fell in Pakistan on Friday, according to data compiled by FXStreet.The price for Gold stood at 41,371.12 Pakistani Rupees (PKR) per gram, down compared with the PKR 41,425.39 it cost on Thursday.The price for Gold decreased to PKR 482,578.60 per tola from PKR 483,177.60 per tola a day earlier.Unit measureGold Price in PKR1 Gram41,371.1210 Grams413,729.10Tola482,578.60Troy Ounce1,286,787.00FXStreet calculates Gold prices in Pakistan by adapting international prices (USD/PKR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge…
With the European Central Bank refusing to pre-commit to any rate path, the euro looks stuck in “paralysed policymaker” mode. What does this mean for the euro? Source link