Author: FX
The Canadian Dollar treaded water to wrap up the trading week. Canada saw a slight decline in home prices, Retail Sales meet expectations. Broad-market sentiment supports the Greenback, limiting Loonie options. The Canadian Dollar (CAD) waffled into the midrange on Friday, testing into the low side but ultimately getting hamstrung as Canadian data comes in mixed and gets overshadowed by sentiment-bolstering US data prints. Canada saw an unexpected contraction in its New Housing Price Index in October, a welcome sign for Canadians suffering under the weight of home prices that have outrun income for decades despite investors not being able…
Silver rebounds to reclaim the $31.00 mark, buoyed by a drop in US Treasury yields and ongoing market dynamics. Technical landscape shows resistance at the 50-day SMA of $31.75, with potential targets extending to $32.00 and $33.00. Key support levels identified at $31.00 and $30.00, with further downside protection near the November low of $29.68. Silver price recovered some ground on Friday and reclaimed the $31.00 a troy ounce, boosted by falling US Treasury bond yields and despite a firm US Dollar. At the time of writing, the XAG/USD trades at $31.28, a gain of over 1.62%. XAG/USD Price Forecast:…
NZD/USD dipped by 0.54% on Friday, plunging to 0.5830. NZD/USD fell to the lowest level since early November as bears maintained control. While oversold conditions, as per indicators, could hint at a correction, the NZD/USD outlook remains negative towards the 0.5800-0.5900 range. The NZD/USD pair extended its losses on Friday, declining by 0.54% to 0.5830, its lowest level since early November. The technical indicators align with the bearish outlook, as the Relative Strength Index (RSI) has fallen sharply into the near oversold area at 33, indicating rising selling pressure. The RSI’s decline is supported by the Moving Average Convergence Divergence…
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…
Markets:Gold up $37.21 or 1.4% $2706.61US 10-year yield 4.414%, -1 point basis pointsUS 2-year yield 4.377%, +220 basis pointsWTI crude oil up $1.08 or 1.53% $71.19 S&P 500 rose . For the week the index rose 1.52%NASDAQ rose . For the week the index rose 1.62%Russell 2000 rose . For the week the index rose 4.3079%Dow rose . For the week the index rose 1.76%European shares moved higher with the UK FTSE 100 rising 1.38% and German DAX rising 0.8% leading the way. France’s CAC rose 0.58% was the weakest performer. The US dollar rose against all the major currency…
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…
sitox RBC Bearings (NYSE:RBC) +2.7% in Friday’s trading to an all-time high as KeyBanc upgrades to Overweight from Sector Weight with a $375 price target, saying short-cycle industrials likely are close to a bottom following five quarters of negative organic growth. Even as Source link
The USD/CHF pair, after trading within a range of 0.8400 to 0.8550 through late August and October, transitioned from consolidation into a trending phase. This shift began as prices broke through key levels in a step-by-step manner, marking the transition from non-trend to trend. Last week, the price moved above the 50% midpoint of the move down from the April high at 0.87989, and the 200 day MA at 0.88298. The price reached a target area near 0.8914 to 0.8923 and backed off into the close last Friday. Early this week, the pair moved lower initially, breaking below the 200-day…
The Dow Jones gained another 400 points on Friday. After a brief lull, the major index is back into its post-election rally. Investors are pivoting out of the usual tech rally into consumer goods. The Dow Jones Industrial Average (DJIA) has snapped its recent soft patch, extending its midweek bullish pivot into a firm Friday performance. The Dow Jones is on its way to finishing another trading week on the firmly bullish side, up around 1.8% from Monday’s opening bids but still a little shy of last week’s record highs near 44,485. A firm print in US Purchasing Managers Index…
GBP/USD sinks further following poor performances in key UK economic indicators and rising geopolitical concerns. Technical analysis highlights potential for the pair to test significant supports at 1.2445 and possibly the year-to-date low of 1.2299. RSI indicates oversold conditions, suggesting a heavy bearish pressure but not yet at extreme levels. The Pound Sterling extends its losses against the Greenback for the third straight day, is down 0.47% after UK Flash PMIs and Retail Sales data disappointed investors. This and heightened geopolitical tensions due to Russia-Ukraine and Middle East conflicts, bolstered the American currency. At the time of writing, the…