NASDAQ has its best percentage gain since 2020 As trading in the US stocks has moved into the last hour, the NASDAQ index is currently leading the way with a 6.45% gain. That came represents the highest percentage gain since April 2, 2020 when the stock market was whipping back and forth with huge changes
The strongest to the weakest of the major currencies The trend from yesterday has continued today with the JPY the strongest of the major currencies . The USD is the weakest. The US CPI was weaker than expected yesterday (0.4% vs 0.6% est. for headline, and 0.3% vs 0.5% est. for the core), prompting a
EURUSD above 1.0300 The EURUSD is trading back above the 1.0300 level for the 1st time since August 12. On the topside, there is any upside swing area between 1.0339 and 1.03657 on the daily chart above. That area is the next upside target on further momentum (see green numbered circles). Above that and the
EURUSD on the 4- hour chart The EURUSD is consolidating the gains in the late London/early US session with the price moving above and below the 38.2% of the move down from the January 2022 high. That level comes in at 1.02841. The retracement level is bookended by a swing area between 1.0273 and 1.0293.
AUDUSD tests the key 100 day MA The AUDUSD is trading to a new high for the day and in the process is ticking closer to the falling 100 day MA at 0.67025. The last time the AUDUSD traded above its 100 day MA was back on August 15 in the midst of the summer
GBPUSD on the weekly chart The GBPUSD has seen the price move up 3.71% this week at current levels, which is the largest week gain going back to March 2020 covid lockdown. Looking at the weekly chart, the pair is trading in a swing area between 1.1759 to 1.1840. The high today has reached 1.17997
The dollar index (DXY) is trading to a new low for the week at 106.369. The index is currently down -440 pips this week and is down -3.97%. That is the largest decline since March 2009 when the index fell around 4.10% on the week. The weekly chart below shows the pip change in the
S&P trades to 4000 The S&P index has reached an intraday high at 4000.08. That is the first trade at that level since September 13. THe next target is the 61.8% of the move down from the August high at 4006.81. Above that and the key 200 day MA at 4081.08 will be eyed. For
WTI crude oil) on the day but lower for the week The price of WTI crude oil settles at $88.96. That was up $2.49 or 2.88% on the day. For the trading week, the price a week closed on Friday at $92.44. The price is down -3.75% on the week and was the first decline
RISK Or lack thereof, led to the demise of the FTX currency exchange last week. That story led to sharply lower digital currencies, including a 92% decline in the FTX token FTT. From an economic perspective, the US CPI proved to be the binary release that many thought it would be. The subsequent wave sent
Moves from Western allies to cap the price of Russian oil will be a benefit to others says US Treasury Secretary Yellen. Beijing will benefit from the new price cap mechanism to be imposed in December China and other buyers of Russian oil will have more leverage to negotiate lower prices “We see the price
Chinese yuan, both onshore and offshore, adds further to gains IMF on global economy – “the outlook is gloomier”, particularly in Europe. Morgan Stanley forecast US CPI to be under 2.0%y/y by the end of 2023 More on Yellen seeing benefits for buyers of Russian oil with the price capped Bitcoin sliding further – the
The dollar is bouncing back across the board to start the new week, helped by some earlier remarks by Fed board member Waller earlier here. EUR/USD is down 0.4% to near 1.0300 and USD/JPY seen up 0.4% to 139.40 currently, off earlier highs of 139.90 at the start of the day. The technical picture continues
That is helping to keep the dollar in a firmer spot as we look towards European trading. The mood isn’t helped by a pushback from Fed board member Waller here. And as mentioned at the end of last week, Fedspeak is pretty much the only thing that could dampen this relief rally in markets. For
Morgan Stanley projects that the global economy will grow by 2.2% next year but says that “risks are to the downside” when it comes to such an outlook. For some context, the projection is even lower than the IMF’s latest growth estimate of 2.7%. The firm says that a resilient job market could allow for
Albanese says that he is looking forward to a “constructive discussion” with Xi tomorrow, adding that Australia will enter into the discussion with goodwill. Relations between the two countries have been frosty in recent years, and the rising tension has not been a positive development for the Australian economy in particular. So, let’s see how
20% of reserves are in SHIB, reflecting what customers bought As a company, we have 1:1 reserves We do not lend to third parties, do not take counterparty risk There was a run on funds held in Crypto.com over the weekend after the exchange “mishandled” a $400 million Ethereum transaction. The timing of things couldn’t
Eurostoxx +0.3% Germany DAX +0.4% France CAC 40 +0.3% UK FTSE +0.4% Spain IBEX +0.4% This builds on the break higher at the end of last week, with the DAX looking towards its highest levels in five months. The overall market mood is more tentative though, as US futures pause for breath. S&P 500 futures
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