Author: FX
USD/CAD extends losses for the second day, trading near its lowest level since September 1.Canada’s headline CPI rose to 1.9% YoY in August, while core inflation held steady at 2.6%.US Dollar remains under pressure despite upbeat Retail Sales and Industrial Production data.The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Tuesday, with USD/CAD extending losses for the second straight day and dropping to its lowest level since September 1. At the time of writing, the pair is trading around 1.3744, down nearly 0.25% on the day, as traders looked past the domestic Consumer Price Index (CPI) report and…
Upstart Holdings, Inc., (UPST) operates a cloud-based artificial intelligence (AI) lending platform in the United States. The company operates through three segments: Personal lending, Auto lending & others. It comes under Financial services sector and trades as “UPST” ticker at Nasdaq. As expected in last article, UPST ended ((1)) impulse from April-2025 low at $93.67 high & correcting in ((2)) in 3 or 7 swings. We like to buy the next pullback in 3, 7 or 11 swings at extreme area, when reach. UPST – Elliott Wave latest four-hour view It made all time high of $401.49 in October-2021 & all-time low of…
Vale stock has broken above significant topline resistance on daily chart over past week.Iron ore prices are holding steady above $100 as China regains economic clout.Vale stock is nearing a five-year descending trendline with a breakout possible.Bringing Capanema mine online will give Vale an additional 15 million tonnes of iron ore production.Brazil’s Vale (VALE), often hailed as the world’s largest iron ore and nickel mining company, might be beginning to turn the page on a five-year downtrend in its share price. After trending lower due to falling iron ore prices, political uncertainty, and a drawn-out legal battle following lawsuits stemming…
Robert Redford, screen idol turned director and activist, dies at 89, New York Times reports Source link
Fundamental OverviewThe USD came under renewed pressure last Thursday following an in-line US CPI report and surprisingly weak initial jobless claims. The jobless claims data stole the show as initial claims jumped to a new cycle high and the highest level since 2021. Eventually, it turned out that the spike in initial claims was caused by an increase in fraudulent claim attempts in Texas. Therefore, in light of this new information, jobless claims still point to a resilient labour market and the fall in continuing claims could actually be an early signal of improvement.Overall, if one zooms out, the US…
Expectations are running pretty high for the Fed to cut interest rates in this September meeting, so market watchers seem more keen to find out if further easing is in the cards. Or are we about to see a less dovish surprise? Here are the points you need to know when trading this highly-anticipated FOMC decision. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Unlimited Access access to MarketMilk™ Plus More! Source link
The main item on the economic calendar in Europe today will be the UK labour market report. We will be getting payrolls for August alongside the jobless rate and wages data for July. At the balance, UK labour market conditions have been slowing down but at a more gradual pace. Wages are also seen easing but overall, the BOE still has to strike a balance between all of that and more stubborn inflation pressures in the meantime.When looking into the data later, the usual caveat applies in that the ONS is still striving to improve on data accuracy. That has…
Market expectations for a Bank of Canada rate cut have been baked in for a while now, but what if the central bank delivers a hawkish announcement? Our Event Guide for the BOC Decision notes that inflation-related indicators are still pointing to sticky price pressures, supporting the case for a possible hold. Here’s what I’m watching on CAD/CHF and NZD/CAD if this happens. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Unlimited Access access to MarketMilk™…
Bitcoin turned lower (again) from the $117,000 zone! Will this lead to deeper pullbacks for the OG crypto? We’re zooming in on BTC/USD’s 4-hour uptrend for clues! Bitcoin (BTC/USD) 4-hour Chart by TradingView Bitcoin’s had a solid September, climbing off the $107,000 lows and making its way back toward the $117,000 neighborhood. But the $117,000 ceiling is proving sticky, and with traders already factoring in Fed rate cut hopes, the OG crypto looks exposed to deeper technical pullbacks. Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework…
Everybody and their momma expect the Bank of Canada (BOC) to reduce interest rates this week! But our Event Guide for the September BOC Monetary Policy Decision suggests that the move may be widely priced in, leading to muted dovish reaction for the Canadian dollar. If Gov. Macklem and his team confirm a less dovish easing trajectory, EUR/CAD and CAD/JPY’s setups might provide opportunities for Loonie traders: This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Unlimited Access access…