Author: FX
Nasdaq posts record closing high with tech gains, rate cut optimism Source link
The US dollar is closing the day mostly higher. The one exception is a modest decline versus the GBP (which was the strongest currency this week). The Feds Musalem was more hawkish compared to other Fed members post the US jobs report. He is still concerned about the impact from tariffs on inflation good where they are.Other news today, Canada was weaker than expectations with a decline of -40.8 job vs expectations of 13.5K. The USDCAD moved higher on the news but the gains found some selling near the 100 hour MA at 1.3757For the trading day the markets were…
The Wall Street Journal is reporting that Putin told US envoy Witkoff he would agree to a cease-fire if Ukraine withdrew forces from all of Ukraine’s Eastern Donestk region.How bad do Ukraine and Russia want peace? This article was written by Greg Michalowski at investinglive.com. Source link
The NASDAQ index led the market higher today and this week, closing at yet another record high and extending to a new intraday high, surpassing the high price from July 31 at 21457.48. The high price today reached 21464.53.The S&P also moved higher but closed just below its prior record high at 6389.77. The closing level today came in at 6389.45, just $0.32 from that record high.A snapshot of the closing levels shows:Dow Industrial Average rose 206.97 points or 0.47% at 44175.61.S&P index rose 49.45 points or 0.78% at 6389.45. NASDAQ index rose 207.32 points or 0.98% at 21450.02.Russell 2000…
The Wall Street Journal is reporting that the Pres. team is expanding the search for the new Fed chair. According to the article:The search is being led by Treasury Secretary Scott Bessent will lead the vetting process, conduct initial interviews, and present a final shortlist to President Trump.The inclusion of former St. Louis Fed Pres. James Bullard seems a bit out of character in some ways, but in other ways not so “Trump-like”. If Trump wants someone who is more anticipatory whether it is dovish or hawkish, Bullard would be the man. However, if Trump wants someone who will support…
Yesterday in a post, I spoke about the messy AUDUSD chart (see post here). The view has not changed much today. It is still messy.Neverthess, even amongst the ups and downs, the markets will leave little nuggets from the charts that traders can use to defing the bias, the risk and the targets. In the video above, I look to make sense of the market as we finish the week and look toward the new trading week. Prepare for the week ahead. Watch the above video. Come to investingLive.com daily and often. Source link
EUR/USD trades at 1.1648, easing 0.14% but holding close to the 1.1700 mark.Reports suggest Trump–Putin meeting next week could lead to ceasefire in Eastern Europe.Euro’s upside capped by stronger USD and speculation over Waller’s potential nomination as next Fed Chair.The EUR/USD consolidates near the week’s highs, shy of testing the 1.1700 figure on a week in whichthe US Dollar is poised to finish the week with over 1.84% losses against its peers. The hangover of last week’s US Nonfarm Payroll figures, and subsequent worse-than-expected employment data, underpins the Euro, due to increasing chances that the Federal Reserve (Fed) will resume…
AUD/USD climbs for the fourth straight day, buoyed by a weaker US Dollar and rising expectations of a September Fed rate cut.Markets are fully pricing in a 25 basis point rate cut by the Reserve Bank of Australia (RBA) on August 12, which would bring the cash rate down to 3.60%.All major Australian banks including ANZ, CBA, NAB and Westpac expect further easing, with year-end rate forecasts around 3.35%.The Australian Dollar (AUD) is consolidating gains against the US Dollar (USD) on Friday, buoyed by weakness in the Greenback amid growing expectations that the Federal Reserve (Fed) will cut interest rates…
The EURUSD began its upside move last Friday after finding support at the 100-day moving average, which served as a strong base for buyers. That momentum extended into this week, with the pair breaking above the 200-hour moving average and the 38.2% retracement (1.1558) of the decline from the July high. The bullish move continued past the 50% midpoint at 1.16098, confirming increased control by buyers.On Thursday, the pair peaked just shy of 1.1700, a natural resistance level, before pulling back to retest the 50% retracement. Buyers held that line, reinforcing the bullish bias. While Friday’s high fell short of…
The Dow Jones rose slightly on Friday to close out the week on the high side.Equities wrestled with tariffs, earnings and geopolitical headlines this week.Indexes recovered their footing after a choppy midweek pullback.The Dow Jones Industrial Average (DJIA) found a bit of room on the high side on Friday, adding a little over 200 points to close out a back-and-forth week. United States (US) President Donald Trump’s long-awaited tariffs have come into effect, and markets are either bracing for fallout or hoping for another delay, in equal parts.Despite recently tapping record highs near 45,130, the Dow Jones is struggling to…