10-year Treasury yields sink below 1.30% Invest in yourself. See our forex education hub. The bond market continues to flash a warning sign to the rest of the market as we now see 10-year yields sink below 1.30% to its lowest since February. The retreat since the FOMC meeting in June has been rather swift
Technical Analysis
USD/JPY searches for first day of gains in six days Invest in yourself. See our forex education hub. It is still too early to be saying what the latest bounce in yields really represents and the same can be said for USD/JPY price action at the moment. The pair managed to find some support from
A look at the CAD/JPY weekly chart Yesterday it looked like CAD/JPY could be headed for an ugly weekly pattern on the chart, falling straight through the June lows in the worst week in just over a year. Today though, the pair has climbed 80 pips to back within the recent range to limit the
AUD/USD turns around the earlier drop to climb to 0.7460 The low today hit 0.7411 in Asian trading, which marked the lowest level for the pair since December, but things are quickly changing now in European trading as risk sentiment is also lookin more positive for the time being. European equities are rallying while US
USD/JPY tests key trendline support as the yen leads gains today Invest in yourself. See our forex education hub. The latest downdraft in Treasury yields is finally stirring up some nerves in the market, as European indices are marked lower at the open with US futures also falling in tandem. This in turn is helping
AUD/USD down 0.6% to 0.7430 levels, the lowest since December last year Invest in yourself. See our forex education hub. The aussie is among the big losers so far today as commodity currencies are seeing a general retreat, with risk aversion kicking into gear in European morning trade. The latest downdraft comes as Treasury yields
Silver flat today as it sits Silver and gold aren’t getting the headlines now but I believe there’s more money to be made by watching quiet markets than trading volatile ones. At the moment, silver fits the bill. When you zoom out, there’s a big triple top ahead of $30/oz but there are also a
The dollar trades a little lower alongside the yen Not a whole lot is going on in Europe as movement among major currencies is relatively light, though commodity currencies are holding a slight advance. EUR/USD is trading narrowly within a 20 pips range between 1.1813 and 1.1833 (1.1827 currently) with GBP/USD keeping in a 28
NASDAQ closes at a new record for the third consecutive day The US major indices are ending the session with mixed results: NASDAQ posts a record close for the third consecutive day S&P index snapped a seven day winning streak Dow industrial average led the way to the downside The major indices are closing the
100 hour moving average at 1.3167 The GBPUSD took the clues from the technicals after early support near the 38.2% retracement held and the price rebounded back above its 200 hour moving average at 1.38515 (green line – see earlier post here). The price moved back below its 200 hour moving average, and then the
AUD/USD closes in on its 200-day moving average The pair is getting an inadvertent lift from a stronger kiwi but also a slightly weaker dollar as we get things going on the day. That is seeing buyers seize near-term control now and the upside push now touches the 200-day moving average (blue line) @ 0.7568.
Major European indices rise to start the trading week The major European indices are ending the session higher as the new trading week begins. The provisional closes are showing: German DAX, +0.09% Francis CAC, +0.22% UK’s FTSE 100, +0.55% Spain’s Ibex, +0.77% Italy’s FTSE MIB, +0.65% Looking at the German Dax daily chart, the price
Seventh record day in a row for the S&P index The S&P index and Dow industrial average are trading their high levels and are looking to both closed at record levels. For the S&P index, it would be the seventh consecutive record high close for the index. For the NASDAQ, a new high be the second consecutive record close. A snapshot
The CAD is the strongest The USD is now the weakest of the major currencies. The CAD remains the strongest. The greenback is trading to new session lows verse the GBP, CHF, CAD, AUD and NZD. The pair is just off it’s session low vs the JPY. The EUR and USD are battling it out for the weakest of
New highs for the EURUSD The EUR lagged other currencies in making new lows vs the USD, but the EURUSD has just moved to a new high (new dollar low). The pair traded to a new high of 1.18602, taking out the earlier high at 1.18588. The next targets comes against the 38.2% retracement of the move
Down seven cents or -0.09% The price of WTI crude oil futures are settling at $75.16. That’s down seven cents or -0.09%. The high price reached $75.62. The low price extended to $74.41 Looking at the hourly chart below, the price has been fluctuating up and down trading today as the OPEC+ meetings continue without a
NASDAQ closes at a record and so does the Dow… The S&P index is up for the seventh straight day and closes at a record level once again. It is the 7th record high close for the S&P. The NASDAQ index also closed at a record today that is the second consecutive record close for
Buyers trying to keep control In an earlier post, I spoke of intraday support near the 100/200 bar MA on the 5 minute chart and the 50% retracement level of the day’s trading range: On the downside, the 50% midpoint of the day’s trading range comes in at 1.37602 (see five minute chart below). That