Author: FX
Markets:Crude oil: $-0.47 at $77.38Gold $-11.90 or -0.44% at $2701.83Silver is $0.47 or -1.54% at $30.32Bitcoin up $4864 or 4.87% at $104,831The USD is ending the day higher versus all the major currency pairs. The largest move is a 0.74% gain versus the JPY. The dollar rose by 0.61% versus the CAD and 0.58% versus the GBP. The greenback was and 0.28% versus the EUR in trading today.The US economic data was supportive with housing starts and building permits both higher than expectations (although multifamily units helped to increase the numbers). The industrial production and capacity utilization data was also…
AUD/USD dips 0.20% to around 0.6200 on Friday. Upbeat Chinese GDP fails to offset RBA’s dovish signals. Trump’s impending tariff plans fuel cautious market sentiment. AUD/USD returns to negative territory near 0.6200 on Friday, failing to preserve the momentum sparked by China’s stronger-than-expected economic indicators. Persistent expectations of lower Australian rates and apprehension over possible US import levies weigh on the pair. Daily digest market movers: Aussie continues suffering from selling pressure, must hold above 0.6200 The US Dollar finds pockets of demand as investors tread carefully prior to President-elect Trump’s inauguration. Markets anticipate that the new administration may announce…
President-elect Donald Trump is expected to unveil a range of executive directives designed to jumpstart fiscal measures, tariffs and stimulus actions. Robust housing figures, including rising permits and starts, suggest that the United States economy remains on solid footing into the new year. Markets assess fresh Fed officials’ clues. The US Dollar consolidates further at current levels on Friday, with the US Dollar Index (DXY) holding around 109.00 and searching for direction. Markets are left clueless after Federal Reserve’s (Fed) Waller comments suggesting a March rate cut is still in the cards while markets assess fresh low-tier data ahead of…
NZD/USD fell at the end of the weekresting around 0.5590 after struggling to sustain previous gains. RSI plunges to 40 in negative territory, pointing to weakening momentum as sellers regain confidence. MACD histogram shows rising green bars, hinting that not all bullish interest has faded despite the drop. The NZD/USD pair lost ground on Friday, sliding 0.30% to settle near 0.5590. This downturn casts doubt on the sustainability of the pair’s recent consolidation above its 20-day Simple Moving Average (SMA), a region that might still offer a line of defense for buyers hoping to maintain upward traction. With sellers beginning…
USD/JPY rebounded 0.6% on Friday as the Greenback stiffens. The pair gave a tidy technical bounce from a key moving average. Markets are broadly pivoting back into Fed rate cut hopes. USD/JPY rallied on Friday, gaining six-tenths of one percent and snapping a two-day losing streak as the Greenback finds broad-market support and bolsters the Dollar-Yen pairing from a fresh tap of the 50-day Exponential Moving Average (EMA). The US Dollar broadly gained ground on Friday as the Greenback gets bolstered by declining US Treasury yields in the face of renewed bets of Federal Reserve (Fed) rate cuts in 2025.…
The major US stock indices are closing higher for the day and for the week. The week gain, is the first for the new trading year for the broader indices. For the day:Dow industrial average rose 334.70 points or 0.78% at 43487.83S&P index rose 59.32 points or 1.00% at 5996.66NASDAQ index rose 291.91 points or 1.51% at 19630.20Russell 2000 rose 9.08 points or 0.40% at 2275.88For the trading week:Dow industrial average rose 3.69%.S&P index rose 2.91%NASDAQ index rose 2.45%For the new trading year, the major indices are also positive: Dow industrial average up 2.22%S&P index up 1.96% NASDAQ index up…
The market spotlight was mainly on U.S. inflation data that prompted traders to recalibrate Fed easing expectations. Here’s how the numbers turned out, as well as the top-tier catalysts that pushed major currencies around. Source link
In the above video, I take a look at the technical levels in play for the AUDUSD heading into the new trading week. For the week, the low on Monday traded to a new low going back to 2020, but could not sustain the bearish momentum. The subsequent rise saw a double top established at the 0.62457 level. That level will need to be broken and stay broken to increase the bullish bias in the new trading week. The pair is closing near the 100 and 200 hour MAs above and below 0.6200. Next week, momentum away from those MAs…
Global risk assets caught a nice bid this week, thanks to cooler-than-expected U.S. inflation data and dovish remarks from FOMC members Waller. Treasury yields plunged from 14-month highs, fueling gains across stocks, gold, and bitcoin, all of which hit fresh highs. Meanwhile, crude oil swung between $77 and $80 amid reports of U.S. sanctions on Russian oil firms and speculation about Israel-Hamas ceasefire talks. 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 Access to exclusive MarketMilk™ sections Plus More!…
The Dow Jones extended a bullish recovery on the back of rate cut hopes. US inflation remains above targets, but pressures may be easing slightly. Treasury yields are getting cheaper and rate cut bets are back on the rise. The Dow Jones Industrial Average (DJIA) added over a full percentage point in value on Friday, climbing around 500 points and vaulting back over 43,500 as market expectations for further rate cuts increased. Tech stocks are back on the rise as traders pile back into their risk appetite ways, and the banking sector is broadly climbing after a wide swath of…