NZD/USD up 0.8% to 0.7072 currently The pair is building on the more positive kiwi sentiment earlier, following a strong NZ labour market report here, with the dollar also seen mildly softer across the board as we get things going in European morning trade. The push to 0.7072 sees the pair move to its highest
Technical Analysis
Record close for the S&P 500 The major US stock indices are closing higher and near session highs: S&P closed at a record level NASDAQ posts a two day win streak Energy (+1.83%), industrials (+1.38%), healthcare (+1.42%), financials (+1.13%) led the charge communication services fell -0.19% Dow and S&P snap a two day losing streak The final numbers are showing:
Oil down in the early stages of the week but selling pressure is contained The low today hit $70.97 in the past hour but oil is seeing a light bounce back to $71.30 now as price is down 0.2% today. Sellers remain in near-term control after having breached below both key hourly moving averages yesterday.
Dow Jones, S&P give up gains and close in the red. NASDAQ closed mostly higher The US stock market lost steam into the close with Dow industrial average and the S&P 500 closing in the red and giving up earlier gains. The NASDAQ index squeaked out a small gain on the day. The final numbers
Light moves as major currencies stretch the narrow ranges The dollar is mildly softer across the board as we see some extension to the tight ranges for the day, with EUR/USD moving up to 1.1885 and GBP/USD up to 1.3930. The latter is pushing back above its 100-day moving average as buyers keep a defense
Disappoint showing up in the price action today. The price of AUDUSD has fallen back below its 100/200 hour MAs at 0.73726 and 0.7362 respectively. IN the process, the bias has shifted more to the downside for the pair. The move lower today is showing the disappointment in the price action this week. After trading
Down day for most indices today Today, the major European indices are ending the week in the red. Looking at the provisional closes: German DAX, -0.5% France’s CAC -0.2% UK’s FTSE 100 -0.6% Spain’s Ibex, -1.25% Italy’s FTSE MIB, -0.6% For the week, German DAX, -0.75% France’s CAC, +0.7% UK’s FTSE 100, +0.1% Spain’s Ibex, -0.5% Italy’s FTSE MIB,
Trades between 100 hour MA below and 100 day MA above The GBPUSD fell to the low for the day as London traders exited for the day/week (and month for that matter). The low reached 1.3889. The 100 hour MA (at the time) was at 1.3891. The price has since bounced and trades at 1.3909.
Gold spins its wheels again The $1834 resistance level and some moderate US dollar buying today spelled trouble for gold today, even with yields dipping another 3 bps today. Technically, that’s a simple setup but it’s not necessarily bearish so long as last week’s low of $1790 holds. On the fundamental side, Powell’s comments this
Stocks close near session lows Highlights for the day: Dow S&P close lower for the third day in four sessions Major averages post weekly losses S&P has six straight monthly gain NASDAQ snaps two day win streak Dow S&P, NASDAQ post gains for July Hurting the indices and market today was Amazon which fell -7.5%
Price trades above and below the 100 bar MA on the 5-minute chart. The GBPUSD has seen steady upside momentum today. The range is still a little low at 84 pips vs the 22-day average of 96 pips. So the price action is not racing higher, but more steady. The price did move briefly below
Indices close off the highs for the day The major indices closed higher on the day. The S&P and Dow industrial average traded to new all-time intraday highs. The S&P close just below record close levels The NASDAQ close higher for the 7th day in 8 trading days. The Dow and S&P snapped a two day
Dollar stays on the backfoot as the post-Fed vibes continue The greenback is staying on defensive to start the session, falling to fresh session lows now as major currencies begin to extend their respective ranges today. GBP/USD is up to 1.3950 with buyers looking to target 1.4000 next. Meanwhile, EUR/USD is up to fresh two-week
S&P up modestly. NASDAQ higher Highlights for the day NASDAQ up for the sixth time in seven days S&P index falls for the second consecutive day Russell index jumps 1.51% new highs at 76. New lows 80 Dow down for the second consecutive day NASDAQ rebounds after its worst day since May healthcare sector on
Down $0.26 or -0.36% The price of WTI crude oil futures are settling at $71.65. That is down $0.26 or -0.36%. The high price today reached $72.33. The low price extended to $71.08. Looking at the hourly chart below, the price low did extend below the 100 hour moving average (blue line in the chart
No record closes for major indices The major US indices have snapped their five day winning streak ahead of the key earnings including Alphabet, Apple, Microsoft, AMD, Starbucks. Microsoft is trading down $3.11 at $285.94 Apple is trading down $2.42 at $146.57 Google is trading down $-48.99 at $2631.71 AMD is trading down $-0.92 at
USD/CNH breaches the 6.50 barrier The high today hit just over 6.52 as the offshore yuan falls to a low last seen since April against the dollar, hurt by the equities selloff in Hong Kong and China to start the week. The sharp move in the yuan is likely the cause for some extended moves
The price cracks back below 1.18019 level The EURUSD has just broken back below a swing area between 1.18019 and 1.18043. Recall from last week that area stalled rallies on July 19, July 20, July 21. On the the ECB decision day on July 22, the volatility took the price above and below the area in what was a