Up $0.08 or -0.18% It’s a wrap for the crude oil market in 2018. The contract is settling the day at $45.41 or -$0.08 or -0.18%. The low reached $44.73. The high extended to $46.53. For the year, the price of crude futures fell 24.8% from the 2017 close. That is a big loss in
Gold is always a great way to start the year One of the best seasonal trends in any market is already under way. I’ve written about it year after year after year and it keeps delivering. There is a major tailwind for gold early in the year, likely due to buying ahead of lunar new
Dallas-area manufacturing survey Prior was +17.6 And that’s your final US economic data point of the year. It’s a huge miss. The regional manufacturing numbers in December have been all over the place. Richmond was also a big miss, which the Chicago PMI was much stronger than expected. For this one, it says less about
A snapshot of the strongest and weakest A look at the strongest and weakest currencies on the last day of the calendar year is showing that the GBP is the strongest, while the NZD is the weakest. The USD is mixed with declines vs the GBP and JPY and gains vs the NZD and CHF.
A hint of caution again, perhaps? ForexLive Equities are still doing decently for the most part – spurred by Trump’s upbeat comments over the weekend – with European equities trading marginally higher while E-minis are trading 0.8% up on the day so far: US 10-year Treasury yields are also flat on the day at 2.721%
Oil is up 1.5% on the day but will end the year lower for the first time since 2015 ForexLive Oil’s rise higher today is helping to give the loonie an added boost as well with USD/CAD lingering near session lows at 1.3613 at the moment. The loonie is the second-best performing major currency today.
Rises above 100 and 200 hour MAs at 3763.69 and 3874.56 respectively The price of bitcoin has shot up about $300 over the last few hours after stalling ahead of the 61.8% of the move up from the Dec 18 low. The move has moved the price back above its 100 and 200 hour MAs.
Trend line and 100 hour MA are topside stall points The USDJPY stalled a topside trend line at the end of yesterday. That trend line comes in at 110.83. Just below that level is the 100 hour MA at 110.791. The price over the last few days has traded above and below that MA over
Its a mixed up picture in the currencies European shares have bounced and US shares are pointing toward cautious gains, yet the CHF remains the strongest currency. Normally the CHF is a safe haven in times of trouble. The JPY is also stronger today. Traders tend to buy JPY in rough times too. Do the
USD/JPY touches a session low of 110.35 ForexLive Risk isn’t really souring any further on the day as European equities are still playing catch up to overnight US equity gains while E-minis are trading about 0.2% lower currently, little changed over the past few hours. However, the yen continues to push higher as cautious sentiment
Dow swings 700 points The US stocks have erased big declines with the S&P and Dow moving into the black. The Nasdaq did move positive but is trading down -25 points. The Dow has seen a 700 point swing from low to high The S&P was down at 2397 and traded up to 2482. With
Watch out for stops in AUD/USD The Australian dollar is in danger of falling to a fresh cycle low. A drop below 0.7021 would take out the October low and mark the worst level since February 2016. The low so far is 0.7024, so we’re dangerously close to a breakdown and it will be coming
Up and down price action over the last few days The EURUSD has seen up and down price action over the last few days after a run lower on Monday. The last two trading days has seen the 100 hour MA (blue line at 1.1404) act as a stall point on rallies. The 38.2% is
Canada returns from holiday today Canadian markets were closed on Boxing Day but will reopen today. That will give Canadian traders an opportunity to react to the madness in markets this week. Oil ripped higher yesterday but is back down today. WTI fell as low as $44.92 but has rebounded to $45.58, up 65-cents on
Stay below keeps the bears in control The USDJPY moved back above the 200 day MA and 100 hour MA into the close yesterday. The high ran into a topside trend line on the hourly chart (see chart below). Today with stocks on the retreat again, we are seeing a move back lower with the
Price bounced off support from the 110.00 handle this week ForexLive I never really like looking at charts and price movement during this time of the year. No matter what the technicals or fundamentals say, price can literally go any where in times of thin liquidity. And this week is generally the quietest week in
USD/JPY wipes out three days of declines The US dollar is in a major turnaround as the mood turns in stock markets. This kind of volatility is typical of a bear market bounce. At the same time, these moves had gone way too far. Trading at this time of the year is like paddling a
HIGH RISK WARNING: 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
Bias has turned more bullish but upside break remains limited ForexLive As the dollar continues to hold weaker, one of the bigger beneficiaries in all of this has been gold. Price managed to break above the 200-day MA (blue line) last week, indicating that the price bias and momentum has turned more bullish. However, since
USD near extremes vs all the major currencies The USD is near extremes (higher USD) vs all the major currencies. The biggest pip changes are 74 and 76 pips vs the EUR and the CAD. The NZDUSD is the largest % changer on the day. It has moved 0.99% on the day. Looking at the
Crude oil up a little but CAD continues to fall The Canada data showed retail sales a little lower than expectations, the BOC business outlook survey lower in the 4Q vs the 3Q. GDP was near expectations. Crude oil did move lower earlier but is now trading up on the day (at $46.10, up $0.22%.
Not a good week though Most of the major European stock indices are ending near unchanged levels for the day. Provisional closes are showing: German Dax, +0.1% France’s CAC, -0.2% UK FTSE, -0.03% Spain’s Ibex, -0.3% Italy’s FTSE MIB did not fair as well today, -0.97% In the 10 year benchmark debt sector, yields are
Trades between 100 and 200 hour MA below. The EURUSD moved to a new session low with general dollar buying on Williams comments. The move lower has taken the price below the 1.1400 area, the 38.2% at 1.14023 and the rising 100 hour MA at 1.13967. Stay below those levels will keep the sellers in
Fed Williams “economy strong” helps The USDJPY fell back to the 200 day MA in the early NY session and bounced. The comments from NY Fed Pres. Williams is helping the dollar a bit as he says the economy is strong. He is also stressing more data dependency with regard to monetary policy and balance
The USD is stronger as the NA session begins As the North American session begins, the JPY is the strongest, while the NZD is the weakest as NA traders enter for the day. The USD is stronger with a only a small decline vs the JPY and a small gain vs the GBP. The ranges
The S&P 500 is set for its biggest yearly fall since the global financial crisis ForexLive Down by 7.7% on the year Down by 10.6% on the month Set for its biggest monthly fall since February 2009 Set for its biggest December month fall since the Great Depression Set for two consecutive weekly closes below
In fact, AUD/USD slumps to a seven-week low on the day ForexLive However, the pledge is failing to give risk assets a boost on the day with risk currencies trading near the lows at the moment and equities also still looking more pessimistic than they were at the start of the trading day. E-minis are
EUR/USD slumps to a low of 1.1427 from the highs earlier ForexLive Welcome to year-end trading, everyone. There isn’t any headlines that is driving the move here but of note the dollar is gathering some bids as the session moves along after slipping early on in the day. EUR/USD has just slumped to a session
AUD/USD looks to settle near the year’s lows as we wrap up 2018 ForexLive Sellers are in cruise control as we approach the year-end with price settling under both key moving averages in the daily and hourly chart. Currently, price is hovering just above the 0.7100 handle as sellers continue to look for a break
Down and Up and Down again. A few hours ago, I outlined an area where sellers should stick a toe in the water (see post) against the 200 and 100 hour MA. The price peeked above the level but not by much. Since then the price has moved right back to the 200 day MA.