Oil down by more than 3% below $66 currently Invest in yourself. See our forex education hub. It is shaping up to be a brutal start to the new week for oil, as price sinks further by more than 3% and is taking out some key technical levels along the way. The latest drop sees
Technical Analysis
ADP payroll and ISM trump the US job gains. The NY Fed Nowcast estimate for 3Q grown slowed to 3.7% from 4.2% last week. How can that be given the strong US jobs report? Indeed the nonfarm payroll added 0.18% to the weekly change in the NY Fed’s model. However, those gains were trumped this week, by the ADP jobs
German DAX pressures that the all-time high but backs off The German Dax move to a intraday high today of 15808.24. That was just short of the July 44 high of 15810.68. The inability to make a new high led to some rotation back to the downside. Nevertheless, the German DAX index is closing marginally higher
Trades between 100/200 hour MAs The NZDUSD has followed the trend higher in the US dollar today (NZDUSD lower) after the stronger than expected US jobs report. The pair moved lower, and in the process cracked below its 100 hour moving average (currently at 0.70328), and continued through an old swing ceiling at 0.7018 to 0.70203 on it’s
Swing area between 1.1751 and 1.17566 The EURUSD is keeping above the July 2021 swing lows between 1.17510 and 1.17566. The low price has so far reached 1.17537 between those swing low levels on the hourly chart. Dip buyers are sticking a low-risk toe in the water, hoping for another bounce. A break below will likely lead to
Yesterday the S&P and NASDAQ close record highs The stronger-than-expected US jobs report Helped send the Dow 30 stocks higher in trading today. The S&P index was mixed but also close marginally higher. The NASDAQ index fell on the back of the potential for higher rates slowing down some of the high flyers. Whereas yesterday,
EUR/USD eases down 0.2% to a low of 1.1808 There isn’t much else happening in the market at the moment as we continue to count down to the US non-farm payrolls release later at 1230 GMT. The euro is a touch on the softer side as we see the narrow ranges for the day stretch
Russell 2000 index rises by 1.81%. The S&P and NASDAQ index both closed at record levels with a late day surge that has the indices going out near the highs for the day. The Dow and the Russell 2000 index also had strong days, with the small-cap index outpacing the larger cap indices with a surge higher of
Dollar holds its ground ahead of European morning trade The dollar got a decent lift on Fed vice chair Clarida’s remarks yesterday and is holding gains for the time being as we look towards European morning trade. Of note, USD/JPY is posting a decent advance to 109.60 levels after the rebound off 109.00 yesterday and
Dow moves down over -300 points. S&P down after record close yesterday The major indices are closing mixed. NASDAQ closes with a three day win streak S&P closes lower after yesterday’s record close Dow, S&P close near session lows Dow was down -325 points at the low. Close just off that low level Dow has its
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
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.