Tag: Foreign Exchange market

European shares end with mixed results
Forex News

European shares end with mixed results

German Dax falls short of a record close despite a new intraday all-time highThe German DAX is closing the day up 0.2%. However that is short of the all-time high close of 14109.48. The index did however reach a new all-time intraday high price of 14197.49. That extended above the old February 8 high of 14169.49.A look at the provisional closes in Europe are showing a mixed results:German DAX, +0.2% France's CAC, +0.3% UK's FTSE 100, 0.8% Spain's Ibex, -0.2% Italy's FTSE MIB, -0.1%in other markets as European/London traders look to exit:spot gold has rebounded off its lows that got close to the $1700 level at $1702.04. The precious metal is currently trading at $1720.73 $-17.78 or -1.03% Spot silver is trading down $0.40 or -1.51% at $26.35. Th...
The biggest bubble in history is starting to come undone
Forex News

The biggest bubble in history is starting to come undone

If you bought a Canadian government 5 year bond last Monday, your entire return is now wiped out. The good news is that you can clip 0.5% coupons until 2025 and break even (before adjusting for inflation).Rising US Treasury yields are getting all the attention but it's increasingly a global story. Canadian 10-year yields just rose above their US equivalent for the first time since April.Australian 10s rose 12 basis points to 1.73%, which is a 30 bps premium over their US counterparts.In Italy, the story two weeks ago was a record low of 0.42% in 10s after Draghi stepped up to avoid an election. That's reversed in a big way and they're now at 0.77%.In general, this is good news. Rising yields reflect optimism in a global economic recovery from covid-19. All economic data points to...
EUR/USD trades at one-month highs as the dollar keeps more vulnerable
Forex News

EUR/USD trades at one-month highs as the dollar keeps more vulnerable

The pair dealt with a nearby above every day obstruction of 1.2150 yesterday and is currently exchanging at its most significant levels in a month, around 1.2170-75 on the session.There is some swing locale opposition just as the 61.8 retracement level of the swing move lower to begin the year, offering a specialized hindrance for purchasers around the area of 1.2178-96 however until further notice.All things considered, the dollar is keeping in a weak spot and if that gives way, we could be on course to retest the highs nearer to 1.2300 by and by.Looking in all cases, GBP/USD is keeping a break of 1.4000, AUD/USD stays ready in the chase towards 0.8000, and USD/CAD is at its lows for the year beneath 1.2600.Indeed, even the potential gain push in USD/JPY has lost a lot of certaint...
The NZD is the strongest and CHF is the weakest as NA traders enter for the day
Forex News

The NZD is the strongest and CHF is the weakest as NA traders enter for the day

The NZD is the most grounded and the CHF is the most fragile as the exchanging week gets in progress. The USD is sitting in the most grounded to most vulnerable reach with blended outcomes. The greenback is more grounded versus the JPY, CHF and CAD and more grounded versus the NZD, AUD, EUR and GBP.  The stock lists in Europe and the pre-market in the US are lower with the S&P on the longest losing streak since November. US yields are higher by a couple of premise focuses and mixing expansion fears.  The long term yield moved to another cycle high.  Boeing is feeling the squeeze again as they grounded some 777s after the Pratt and Whitney motor fire in Colorado over the weekend.  Gold is bouncing back higher as is oil after the defrost fall on Friday.Looking at the ranges and changes...
WTI crude oil settles at $58.68, up 0.6%
Commodities

WTI crude oil settles at $58.68, up 0.6%

WTI crude oil futures for March delivery settle up $0.32 or 0.55%The price of WTI crude oil futures are settling the day up $0.32 or 0.55% and $58.68. The high price for the day reached $58.91. The low price extended to $58.08.The Department of Energy crude oil inventories showed a sharp unexpected decline of 6.64M barrels vs. expectations of -800K.Looking at the hourly chart the price has moved more sideways over the last few days and broke below a channel trendline. However the downside yesterday stalled against lows from Monday at $57.32. The price moved higher.The higher - to sideways market - has allowed for the 100 hour moving average to catch up with the price (blue line in the chart above). That moving average currently comes in at $57.59.Until the price can move below ...
GBPUSD continues its run higher. Up close to 300 pips from the low last Thursday.
Forex News

GBPUSD continues its run higher. Up close to 300 pips from the low last Thursday.

The GBPUSD on the weekly chart above, is moving away from a topside trend line connecting highs from 2019. That trend line cuts across at 1.3729. It was broken on Mondays trade. Yesterday, the pair continue to run higher and that is rolling over into today as well. Looking at the weekly chart, there is only open road ahead as long as the price can remain above that trend line. PS the price moved above its 38.2% retracement of the move down from the 2014 high which is also good for the buyers.Drilling all the way down to the hourly chart, just above that 1.3729 level was a ceiling area between 1.3745 and 1.3758 (see green numbered circles and yellow area).  As outlined in numerous posts yesterday, that area was broken, then retested, then pushed higher. Ultimately, it still remains a ke...
GBPUSD trades the highest level since late April 2018
Forex News

GBPUSD trades the highest level since late April 2018

GBPUSD cracks above the ceiling area (and is staying above the area too) The GBPUSD has moved above the key ceiling area on the hourly chart between 1.3745 and 1.37582. That area had a number of swing highs going back to January 21 (including one yesterday).   Today in the early Asian session, the price started to work into that area and break above.  The high price has reached 1.37886 (twice). Admittedly, the pair has consolidated in a range between 1.37605 1.37886 over the last 11 or 12 hourly bars.  However, the bullish news is that the price remains above the old ceiling area.  It will take a move below 1.37582 and then 1.37451 to upset the longs now.  Failure to do that and the break remains the dominant technical clue. Looking at the daily chart, the pair has not been this high sin...
EURUSD stalls at the high near 50% and key swing area. Rotates lower toward support
Forex News

EURUSD stalls at the high near 50% and key swing area. Rotates lower toward support

100 hour moving average being approached on the downside in the EURUSDThe EURUSD on Friday moved sharply higher after the weaker than expected US employment report and overall dollar selling. On the way higher, the pair moved back above the 1.2027 to 1.2010 key swing area.  Recall those levels were swing highs going back to 2020 before breaking higher on December 1.  They also were swing areas in the month of February, before breaking lower on Wednesday's trade last week (see green numbered circles). The pair also broke above the 100 hour moving average for the 1st time since February 1.The move higher on Friday did stall just ahead of the 50% retracement and a another swing area between 1.2050 and 1.20558 (see red numbered circles).Today, in the early Asian session, the price trie...
PBOC sets yuan mid-point at 6.4678 vs last close at 6.4664
Forex News

PBOC sets yuan mid-point at 6.4678 vs last close at 6.4664

Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blo...
EUR/USD extends to new highs
Forex News

EUR/USD extends to new highs

Up for 8 consecutive hourly barsThe EURUSD has extended to new session highs and in the process has moved above the high price from yesterday at 1.20422. The high from Wednesday at 1.2050, and the 50% retracement of the move down from the January 29 high comes in at 1.20534. Those are the next upside targets.The pair is now up on 8 consecutive hourly bars (the last bar closed at 1.2037) , and has closed above its 100 hour moving average for the last 4 consecutive bars. The 100 hour moving average currently comes in at 1.20203. Stay above keeps the buyers in control from the short term at least.Credit: forexlive