Author: FX
The broader US stock indices closed sharply higher on the day, but were still down for the fourth consecutive week. S&P index rose 117.42 points or 2.13% at 5638.94NASDAQ index rose 451.07 points or 2.61% at 17754.09Each of those indices have closed lower for 4-consecutive weeksThe S&P index fell by -2.27% this week. The prior three weeks have seen declines of -1.66%, -0.90% and -3.10%.The NASDAQ index fell by -2.43% this week. The prior three weeks of seen declines of -2.1% -3.47%, and -2.43%.For the Dow industrial average, it rose 634.62 points or 1.65% at 41488.79. For the trading week,…
Newly-minted Canadian Prime Minister Mark Carney took over the reigns of Canada from now-former Prime Minister Justin Trudeau on Friday morning. The fresh Canadian leader wasted no time in declaring his intent to meet United States (US) President Donald Trump head-on as the Trump administration spools up a messy, global trade war with nearly all of the US’s closest trading partners simultaneously. Key highlights Mark Carney sworn in as Canada’s prime minister, now faces Trump tariffs. Carney plans visit to France and the UK next week. Carney: We will create new trade corridors with reliable partners. I plan to go…
Pres. Trump in an interview to be aired on Sunday says:They will know more about Russia’s readiness to agree to the proposal for a 30 day cease-fire with Ukraine on Monday. This article was written by Greg Michalowski at www.forexlive.com. Source link
Using the Elliott Wave (EW), we have successfully tracked the most likely path forward for the SP500 (SPX) over several months. Already in November last year, we found “Ending Diagonals (EDs) are tricky because all their waves comprise three waves: 3-3-3-3-3. Besides, W-iii typically targets the 123.60% extension of W-i, measured from W-ii. The W-iv then tends to correct back to the 61.80% extension, after which the last W-v targets the 161.80% extension. In this case, we are looking at W-iii to reach at least SPX6060, W-iv should bottom around SPX5725, and W-v can reach at least SPX6260.” (Grey) W-iii…
The price action in both the AUDUSD and the NZDUSD was up and down indicative of a market that is trying to figure out which way to go. The AUDUSD has been fluctuating around the 100-bar and 200-bar moving averages on the 4-hour chart this week, but is currently trading above both as it moves toward the weekly highs and the end of the week. The pair is now testing a swing area between 0.6326 and 0.6336, a key resistance zone. A confirmed break above this level next week would open the door for a move toward the 100-day moving…
Public safety and the policies implemented by the United States are a source of concern for businesses. Central bank warns slowdown could deepen; urges investment boost amid weakening demand and trade tensions Banco de Mexico (Banxico) Director of Economic Research Alejandrina Salcedo Cisneros said that uncertainty is having a widespread impact on the country’s businesses, so the outlook points to a moderate expansion of regional economies. Banxico’s economist added, “We had a slowdown that we had been observing for several quarters, to which this environment of uncertainty is now compounded.” She said this could be due to lower internal and…
Mexican Peso advances as USD/MXN plunges below 19.90, down over 1%. The Peso shrugs off Mexico’s weak industrial output and declining consumer confidence fueling recession concerns. US consumer sentiment plunges amid rising inflation expectations, driven by upcoming Trump administration tariffs. The Mexican Peso (MXN) rallied against the US Dollar (USD) on Friday, ignoring softer-than-expected economic data revealed during the week that suggests the economy might slow down. A deterioration of consumer sentiment in the United States (US) exerted pressure on the Greenback, which is poised to finish the week with losses. The USD/MXN trades at 19.86, down more than 1%.…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
The EU has not really been in the crosshairs with regard to any specifics on tariffs… yet. EU Trade Chief Sefcovic is saying:He had an important exchange with US Commerce Secretary Lutnick There is a lot of work ahead.We do know is that Trump is irked by the tariffs on US autos in the EU, and will likely encourage them to be eased.Ford manufacture vehicles in the European Union, maintaining key production facilities in Cologne, Germany; Valencia, Spain; and Craiova, Romania. The Cologne plant, established in 1931, produces models like the Ford Explorer EV, while the Valencia plant, operational since…
Bakers Hughes rig count for the current week:Oil rigs +1 to 487Gas rigs -1 to 100Total rigs Unchanged at 592 This article was written by Greg Michalowski at www.forexlive.com. Source link