Author: FX

Biglari Holdings reports Q3 results Source link

Markets:S&P 500 up 0.4%WTI crude oil down $1.88 to $70.48Gold down $24 to $2683US 10-year yields down 4 bps to 4.30%JPY leads, AUD lagsChina set the table for US markets on Friday as the stimulus announcements disappointed, leading to a 5.5% decline in US-listed China ETFs and a slump in the Australian dollar that worsened through the day. Worries about China growth also likely weighed on oil prices and dragged yields lower on less inflationary pressure.The long end of the yield curve has now retraced the post-election jump and that’s part of the ongoing theme in markets, something I would…

John PaulsonAn earlier report highlighted John Paulson and Scott Bessent as possible candidates for Treasury Secretary and now Reuters sources say those are the leading candidates.I wrote about Paulson earlier in the week and emphasized that he’s a major gold bull. Now, I don’t know that he’s going to advocate adding to US gold reserve but he’s certainly not going to advocate for selling them.Meanwhile, in the irony of ironies, Bessent is a George Soros acolyte and worked from him from 1991 to 2000 (a time of the famous pound bet) then returning in 2011 to spend four years as…

Be aware. Be prepared. In the videos below, I take a technical look at all the major currencies vs the USD. What is the bias and what would move the bias the other way? Support? Resistance? What are the targets? I look at all the key technicals in play for each of the major currency pairs i the below videos.EURUSDGBPUSDUSDJPY:USDCHF:USDCAD:AUDUSD:NZDUSD: This article was written by Greg Michalowski at www.forexlive.com. Source link

The NZD/USD got rejected by the 20-day SMA by the fourth time this week. Technical indicators point to increasing selling pressure and decreasing buying pressure. A breakout from the 0.5940-0.6030 range will confirm a bearish outlook. In Friday’s session, the NZD/USD declined by 1.05% to 0.5960, continuing its downward trend as the pair got rejected by a third time this week by the 20-day Simple Moving Average (SMA). The Relative Strength Index (RSI) is currently at 40 and in negative territory, indicating that selling pressure is rising. The RSI’s slope is declining sharply, suggesting that selling pressure is increasing. The Moving Average…

By Dhara Ranasinghe and Koh Gui Qing NEW YORK/LONDON (Reuters) -The U.S. S&P 500 zoomed past 6,000 points on Friday to a new record while Treasury yields retreated, as investors again cheered Donald Trump’s decisive victory, although disappointment about China’s latest fiscal support dampened the mood elsewhere. A day after the Federal Reserve delivered a quarter-point rate cut, as anticipated, the focus returned to the fallout of Tuesday’s U.S. presidential election and headlines out of Beijing. The weakened, while U.S.-listed shares of Chinese firms and China exposed-sectors in Europe sank as investors took in news that China’s stimulus did not…

The Canadian Dollar shed 0.4% against the Greenback on Friday. Canada saw a worse-than-expected print in net new jobs additions in October. Average Canadian wages also rose, maintaining upward pressure on inflation expectations. The Canadian Dollar flubbed a near-term technical recovery on Friday, slumping back into familiar lows against the Greenback. The Loonie remains under pressure as the Bank of Canada (BoC) continues to keep downward pressure on interest rates in the face of lagging employment figures, though the Canadian central bank is quickly running out of runway as rising wages keep inflation expectations simmering in the background. Canada reported…

Dow Jones tapped 44,000 for the first time ever on Friday. Equities are extending a near-term bullish push to wrap up the trading week. UoM sentiment survey results came in much better than expected. The Dow Jones Industrial Average (DJIA) rose into fresh all-time highs on Friday, clipping into 44,000 as stocks lean firmly bullish to close out a record week. The Dow had its best week since October of 2023, rising nearly 5% and piercing record bids three days in a row. The University of Michigan (UoM) Consumer Sentiment Index rose to 73.0 in November, overshooting the expected print…

When Trump autographed a stock chartClosing changes on the day:S&P 500 +0.4% – record closeNasdaq Comp +0.1%DJIA +0.6%Russell 2000 +0.7%Toronto TSX Comp -0.4%Closing changes on the week:S&P 500 +4.7%Nasdaq Comp +5.7%Russell 2000 +8.6%Toronto TSX Comp +2.1%Congratulations to everyone who held stocks through the election. The red sweep no doubt helped by I’ve argued many, many times that the trade on elections everywhere is always to buy the uncertainty, because the sun always rises the day after the vote.The outperformance of the Russell 2000 comes down to:It’s bank-heavy and the assumption is that Republicans will loosen banking regulationsIt’s more domestic-focused and…

NZD/JPY extends downtrend, breaking below key support. Technical indicators suggest further downside potential. The overall picture sees the pair stuck in a side-ways trading channel. In Friday’s session, the NZD/JPY declined by 1.20% to 91.00, continuing its bearish momentum. This break below the crucial 91.00 support level and the convergence of the 20 and 100-day Simple Moving Averages (SMAs) further confirms the strength of the selling pressure. The analysis of technical indicators reveals a bearish outlook. The Relative Strength Index (RSI) has fallen into the negative territory and is declining sharply, indicating increasing selling pressure. The Moving Average Convergence Divergence…