Author: FX
Yesterday I wrote about the breakout in Tesla shares:At the moment, earnings simply don’t matter and this chart shows a nice looking series of higher lows that could be capped by a return the 2024 highs. Given the parabolic move in Oracle shares yesterday, I would certainly be wary of being short.Sure enough, it was as simple as going with the breakout after a long period of consolidation. Shares are up 7% today in a sign that the move could run back to the 2024 highs.The tell was Oracle earlier this week as it went straight parabolic and I think…
WTI trims intraday gains after facing resistance at the 21-day SMA.Technical resistance remains firm, with price action capped near $63.50 and momentum indicators signaling subdued trend strength.Immediate support rests at $61.50; a break lower could expose $60.50–59.50.West Texas Intermediate (WTI) Crude Oil reversed course during the American session on Friday, paring intraday gains after hitting a daily high of $63.69. The US benchmark faced renewed selling pressure as bears defended the 21-day Simple Moving Average (SMA), a level that has repeatedly capped upside momentum in recent days.At the time of writing, WTI is changing hands near $62.30, still up nearly…
Gold rebounds after weak UoM sentiment and soft jobs data boost rate cut bets.Payroll revision and rising Jobless Claims outweigh steady inflation prints earlier in the week.Geopolitical tensions and looming 25 bps Fed cut keep safe-haven demand strong ahead of September SEP.Gold prices rise over 0.44% during Friday’s North American session as weaker than expected jobs market data increased the chances that the Federal Reserve (Fed) will cut interest rates next week. At the time of writing, XAU/USD trades at $3,649 after hitting a daily low of $3,630.Bullion rises on weak Consumer Sentiment, Jobless Claims boost Fed easing betsThe week…
EURUSD 10 minsTreasury yields are 3-6 basis points higher on the day and that initially gave the US dollar a lift today but it’s fading. The dollar has been under some modest pressure since the softer UMich consumer sentiment data. That’s helped boost the euro to 1.1737 from 1.1712.There are similar 20-30 pip moves elsewhere and what’s likely flows ahead of the weekend. Notably, the dollar has weakened even as the odds of a larger Fed rate cut have declined. The implied chance of a 50 basis point cut is down to 4.8% and that may be due to the…
Microsoft is testing it 200 hour moving averageMicrosoft’s shares are on the run to the upside today after a series of positive catalysts. The company extended its partnership with OpenAI, reinforcing its leadership in AI investments tied to ChatGPT and Azure. It also settled with the European Commission on long-running antitrust issues related to Teams, easing regulatory pressure by offering Office 365 without Teams and improving data portability. Finally, Microsoft and OpenAI signed an MoU to redefine their partnership as OpenAI transitions toward a for-profit model, with both sides expected to hold about 30% stakes. Together, these developments boosted investor…
Adobe stock fails to hold on to gains from initial earnings rally.Markets mixed as poor economic data from the University of Michigan makes rounds.Michigan Consumer Sentiment and Consumer Expectations for September miss consensus.AI-inflected revenue at Adobe reaches $5 billion ARR during Q3.Adobe (ADBE) sank 1% lower on Friday morning despite rallying 3.5% higher in the premarket following Thursday’s post-market earnings release. Then Adobe stock recovered to even just before lunchtime in New York, and uncertainty seems to be the vibe at the end of the week.The Dow Jones Industrial Average (DJIA) is trading down 0.4% on Friday after triumphing over…
GBP/USD slips as US Dollar steadies ahead of Fed, BoE meetings The Pound Sterling (GBP) retreats during the North American session on Friday by a modest 0.10% as the US Dollar (USD) recovers some ground, after a week that witnessed US inflation remaining steady above the Fed’s 2% goal but controlled. GBP/USD trades at 1.3556 after hitting a daily high of 1.3580. The latest consumer and producer price inflation in the US provided a green light to the Fed to resume its easing cycle, as prices, although they remain high, stay below the 3% threshold. Next week, the Federal Reserve…
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EUR/USD rebounds from intraday lows near 1.1700 but remains under pressure.UoM Consumer Sentiment drops to 55.4, missing estimates and marking a four-month low.Russia and Belarus launched the Zapad-2025 military drills on Friday, prompting Poland to close border crossings with Belarus.The Euro (EUR) trades on the back foot against the US Dollar (USD) on Friday, with EUR/USD hovering around 1.1720, stabilizing after dipping to intraday lows near 1.1700.The mild recovery comes as the Greenback eases from session highs after the University of Michigan’s preliminary September survey revealed weakening consumer confidence alongside sticky inflation expectations.The headline Consumer Sentiment Index fell to 55.4…
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