Category: Markets
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AUDUSD is bouncing after exhausting momentum. NZDUSD has a small bounce. Not impressed
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The AUDUSD and NZDUSD pairs have been going hand in hand this week towards the downside, but the NZDUSD pair has seen more bearish momentum. Yesterday, the AUD/USD pair fell below its 200-day moving average and 50% retracement near 0.6583 and 0.6579 respectively. The price then gained momentum after breaking…
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AUDUSD is bouncing after exhausting momentum. NZDUSD has a small bounce. Not impressed
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The AUDUSD and NZDUSD pairs have been going hand in hand this week towards the downside, but the NZDUSD pair has seen more bearish momentum. Yesterday, the AUD/USD pair fell below its 200-day moving average and 50% retracement near 0.6583 and 0.6579 respectively. The price then gained momentum after breaking…
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US FDA flags dosing risks from compounded versions of Novo’s weight-loss drug By Reuters
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(Reuters) – The U.S. Food and Drug Administration on Friday warned patients and doctors about dosing errors linked to combination versions of Novo Nordisk’s weight-loss and diabetes drugs. The health regulator said it had received reports of adverse events, some requiring hospitalization, that may have been linked to overdoses caused…
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Initial Atlanta Fed GDPNow growth tracker comes in at 2.8%
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The Atlanta Federal Reserve released its preliminary estimate of third-quarter GDP growth. It expects growth of 2.8% in the third quarter. In their own words: The GDPNow model’s preliminary estimate of real GDP growth (seasonally adjusted annual rate) in Q3 2024 is 2.8 percent On July 26. The preliminary estimate…
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US union and Apple reach tentative labor agreement By Reuters
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The International Association of Automated Workers’ Alliance of Retail Employees and Aerospace and Aviation Workers reached a tentative agreement with tech giant Apple Inc on Friday on improved work-life balance, wage increases and job security. Workers at Apple’s retail store in Towson, Maryland, are scheduled to vote on the interim…
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US stocks move lower as the week moves toward the close
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US stocks are moving lower with the broader S&P and Nasdaq indexes below the midpoint of their daily trading ranges. The indicators are still higher on the day, but in a week that has seen sharp moves to the downside, a leak back to the downside is disappointing. Looking at…
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Forexlive Americas FX news wrap 26 Jul: Rebound day. AUD higher. CHF lower. Stocks rise
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Over most of the week, fund flows pushed the Japanese yen and Swiss franc higher amid safe-haven flows. The Australian dollar (and the New Zealand dollar) fell as risk-off sentiment took hold on the back of a slowdown in China and lower commodity and stock prices. Today saw a reflection…
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Debut of Bill Ackman’s new fund delayed but expected to proceed By Reuters
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By Svea Herbst Bayliss (Reuters) – The U.S. launch of billionaire investor Bill Ackman’s new Pershing Square USA fund has been delayed without giving a reason, the New York Stock Exchange said on Friday. The exchange said on its website late Friday that the initial public offering, which was expected…
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Debut of Bill Ackman’s new fund delayed but expected to proceed By Reuters
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By Svea Herbst Bayliss (Reuters) – The U.S. launch of billionaire investor Bill Ackman’s new Pershing Square USA fund has been delayed without giving a reason, the New York Stock Exchange said on Friday. The exchange said on its website late Friday that the initial public offering, which was expected…
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Global Market Weekly Recap: July 22 – 26, 2024
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Market correlations have been intermittent throughout the week as traders try to reconcile several key market drivers throughout the week. In particular, renewed growth concerns in China and a tech sector sell-off on weak US earnings data led to large inflows into safe-haven assets during the first half of the…
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A technical look at each of the major currency pairs heading into the new trading week
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Blaze in Canadian tourist town still out of control but rain helping firefighters By Reuters
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By David Ljunggren OTTAWA (Reuters) – A massive wildfire that has destroyed about a third of the western Canadian tourist town of Jasper remains out of control but rain and cold weather are helping firefighters, authorities said on Friday. Jasper is located in the heart of Alberta’s mountainous Jasper National…
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US stocks close the week with gains on the day. S&P and Nasdaq lower for the week.
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US stocks closed the week with gains during the day. The S&P and Nasdaq remained lower for the week. The Dow Jones and Russell 2000 index of small companies closed higher, with the Russell 2000 the best performing index among the traded indices on hopes that lower interest rates will…
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Iveco Group reports solid Q2 despite challenges By Investing.com
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In its 2024 second-quarter earnings call, Iveco Group showcased consistent improvements in profitability across all business units, with an adjusted EBIT margin for industrial activities reaching 6.9%. Despite facing a temporary setback in net working capital and a slight decrease in financial performance compared to the previous year, the company…
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USDCHF bounces as flight to safety flows abate. What levels are in play going forward?
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The USD/CHF pair has been falling this week on safety-seeking flows following a strong sell-off in equity markets. The drop has taken the price back below its 200-day moving average near 0.8883, and the 38.2% retracement of the upside move from the December low is also at this level. Further…
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US judge blocks latest version of labor department’s fiduciary rule By Reuters
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By Tom Hales WILMINGTON, Del. (Reuters) – A U.S. judge has blocked enforcement of a Labor Department rule that would have expanded the types of retirement advisers considered trustees, finding the rule arbitrary and in conflict with the law governing retirement plans. The rule was unveiled in April as the…
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European shares bounce back. Mixed performance for the week.
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Google to blame for slower YouTube speeds in Russia, says senior lawmaker By Reuters
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YouTube’s speed in Russia will drop sharply on desktop computers because of Google’s failure to update its equipment in Russia and its refusal to lift a ban on Russian media channels, a senior lawmaker close to the authorities said on Friday. Russia has criticized Alphabet Inc’s Google for removing YouTube…
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Why You Shouldn’t Take Your Trading Losses Personally
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Harry Dinkelberg has just lost his beer money on a short trade on the pound. He blames the market, flexes his fingers, and then aggressively shorts all the pound pairs with huge position sizes in the forex market. Then he loses his son’s college education fund on the same day,…
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Tech Giants’ Earnings Disappoint. Wall Street Ends Deep Red
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U.S. stocks fell on Wednesday, led by a selloff in technology stocks after disappointing earnings reports from Alphabet Inc., the parent company of Google, and electric carmaker Tesla Inc. The weak start to the earnings season for major companies raised concerns about the recent surge in stock prices driven by…