Author: FX
The USDJPY has set the technical guardrails for the rest of today and heading into next week.Looking at the hourly chart, the low for the day stalled just ahead of the 200-day moving average, currently at 158.313. The low reached 158.35 before buyers stepped in and pushed the pair back higher.That rebound has taken USDJPY back toward today’s high and yesterday’s high, where sellers have leaned against the 100-hour moving average at 159.04 and the 200-hour moving average at 159.154.Those moving averages now define the upper guardrail, while the 200-day moving average defines the lower guardrail.If the price remains below…
Bitcoin is up almost 23% this week, trading near $77,400 by Friday afternoon after opening the week around $62,600. Its highest level since early June. And the run kicked off on a day when stocks slid and the U.S. consumer looked shaky, which is not how a normal “risk-on” rally is supposed to work. So what lit the fuse? A wonky announcement from the U.S. Treasury about buying back government bonds. Traders took that news and ran straight into gold, Bitcoin, and other “hard assets” — the classic recipe of the so-called debasement trade. Let’s unpack it. What Happened? On…
Gold price hits a three-month high and is poised to end the week with gains of over 5.6%, even though business activity in the services sector in the US was solid. Recent developments in the Middle East and a softer US Dollar underpin the yellow metal, which has surpassed the $4,600 threshold. The XAU/USD trades at $4,622, up over 2.3%.XAU/USD hits three-month high despite strong US services dataThe US S&P Global Services PMI in August exceeded estimates of 54 to reach 56.8, the highest since December 2024, and crushed the previous month’s 54.6 print. However, not all is good news:…
AUDUSD is the biggest mover today and trades at highest level since early June !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
The weekly Baker Hughes rig count shows:Crude oil rigs -3 at 452Natural Gas rigs -1 at 127Total rigs -5 at 588For the year:Oil was 412Natural Gas was at 122Total rigs was at 539. Crude oil is trading at $87. That’s up $0.17 on the day. For the trading week, the price is up $4.60. Looking at the daily chart, the high-priced today reached $87.51. That is just below the 100 day moving average at $88.05. The high for the week reached $87.69 yesterday. Moving and staying above the 100 day MA would be more bullish technically. Source link
European shares are closing mostly higher on Friday, but the gains were not enough to erase losses for most of the major indices this week. The broader STOXX 600 is also on pace for a weekly decline as elevated bond yields and oil prices continue to weigh on sentiment.European closing levels:German DAX, +0.59% at 26,136.57France’s CAC, +0.37% at 8,484.44UK’s FTSE 100, +0.64% at 10,816.57Spain’s Ibex, +0.76% at 19,961.50Italy’s FTSE MIB, unchanged at 52,668.03For the trading week, the UK FTSE 100 was the only major index to finish higher:German DAX, -1.15%France’s CAC, -1.76%UK’s FTSE 100, +0.62%Spain’s Ibex, -0.97%Italy’s FTSE MIB, -1.71%European…
Jonathan KitchenEverpure (P) was in focus on Friday as Wedbush Securities upped its price target on the data management and storage company ahead of its second-quarter results, set to be released on Aug. 27. “We expect another beat, and more importantly, we continue Source link
Brazilian President Luiz Inácio Lula da Silva and U.S. President Donald Trump held a phone call Friday, with trade and tariffs among the issues discussed.According to the Brazilian government:Lula and Trump held a phone call on Friday, discussing both the bilateral relationship and the broader global agenda.Lula reaffirmed the need for negotiations over tariffs between Brazil and the United States.Lula reiterated Brazil’s commitment to cooperating with the U.S. in combating organized crime.Trump suggested that Brazilian and U.S. officials resume meetings as soon as possible.The timing of the call is particularly interesting given Trump’s separate announcement on beef.Earlier today, Trump announced…
The gold buyers raced higher earlier this week, helped by the broader decline in the U.S. dollar. The move carried the price away from its 100-day moving average at $4,391.78 and toward the 200-day moving average at $4,501.13.Yesterday, gold traded above and below the 200-day moving average as buyers and sellers battled for control. Today, however, the buyers have made a stronger push. With gold currently up around $90 on the day, the price has extended further above the 200-day moving average and has now broken above the 38.2% retracement of the 2026 trading range at $4,573.87.That breakout gives the…
S&P Global manufacturing PMI flash estimate for August 53.2 versus 53.9 estimate !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link