The Canadian dollar is in a tough spot. The US dollar rose 15 pips against the loonie today to 1.3950, which is the first time at that level since 2022. The next level to watch is 1.3978, as a rise above that level would be the highest since the pandemic. And other than a brief

It’s non-farm payrolls Friday but it’s a tough one. Aside from the hurricane and strike skews in the jobs report, it’s coming just ahead of the US election and that’s making it tough to lean into any position. I wrote a non-farm payrolls preview yesterday and that main takeaway is that seasonals point to 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 your initial investment; do not

Coming into today, the main US stock market indexes looked like they would be climbing for the sixth straight month and 11 of the past 12. Instead, heavy selling hit and erased the monthly gains and more. As a result: S&P 500 -1.0% Nasdaq Comp -0.5% Russell 2000 -1.2% DJIA -1.3% Toronto TSX Comp +0.6%

Headlines: Markets: JPY leads, CAD lags on the day European equities lower; S&P 500 futures down 0.6% US 10-year yields up 1.6 bps to 4.280% Gold down 0.2% to $2,779.54 WTI crude up 0.8% to $69.16 Bitcoin down 0.9% to $72,214 The BOJ was in focus today and while the policy decision in itself wasn’t

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 your initial investment; do not

Microsoft earnings for the quarter are better than expectations: EPS $3.30 versus $3.10 expected Revenues 65.6 pain dollars explained dollars versus $64.519 Microsoft cloud revenues $38.9 million versus expected $38.19 Azure and other cloud services up 34% Microsoft shares are trading up 2.18% at $442.51. This article was written by Greg Michalowski at www.forexlive.com. Source

Headlines: Markets: JPY leads, GBP lags on the day European equities lower; S&P 500 futures up 0.1% US 10-year yields down 5.2 bps to 4.220% Gold up 0.2% to $2,780.24 WTI crude up 1.2% to $68.00 Bitcoin down 0.2% to $72,167 It was a packed session with plenty of economic data releases to work through.

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 your initial investment; do not

Gold hit a fresh record at $2775 earlier today in a series of record highs this year. Bitcoin may finally be joining the party as it tests the March high of $73,803. The high so far is less than $300 from that level, though it should provide tough resistance. Bitcoin is up more than 5%

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 your initial investment; do not

Of note, we’ll have five of the ‘Magnificent 7’ reporting earnings this week. Alphabet will be the one kicking things off in the day ahead, being accompanied by smaller releases from Visa, AMD, and McDonald’s. Then tomorrow, we’ll get to Microsoft and Meta. And on Thursday, it will be Apple and Amazon. The latter releases

The Canadian dollar is threatening to hit the worst levels since May 2020 in what would be a major range breakout. Aside from brief periods during covid and the oil price collapse in 2016 (both less than a month long), this would be the lowest level since 2003. I expect this period of weakness to

Headlines: Markets: EUR leads, JPY lags on the day European equities higher; S&P 500 futures up 0.5% US 10-year yields up 2.5 bps to 4.256% Gold down 0.6% to $2,731.59 WTI crude down 5.7% to $67.65 Bitcoin up 2.8% to $68,660 The main focus in FX was on the Japanese yen, as it opened with

Info comes via Reuters, updating the Citi outlook for oil. Lowers 0-3 month Brent oil target price to $70/bbl (from $74/bbl) Lowers Q4 2024 Brent forecast to $70/bbl (from $74/bbl) Recent Israel military action is unlikely to be seen by the market as leading to an escalation that impacts oil supply We expect a lower

Weeks of speculating about how Israel would respond to Iran’s attacks had markets worried about strikes on energy infrastructure or something that would spark a broader war. Instead, the attacks look to be measured and US President Biden immediately called for a halt to escalation. Reports from Iran say the attacks caused only limited damage

UPCOMING EVENTS: Tuesday: Japan Unemployment Rate, US Job Openings, US Consumer Confidence. Wednesday: UK Budget, Australia Q3 CPI, Germany CPI, Eurozone Q3 GDP, US ADP, US Q3 GDP. Thursday: Japan Industrial Production and Retail Sales, Australia Retail Sales, China PMIs, BoJ Policy Decision, Switzerland Retail Sales, French CPI, Eurozone Flash CPI, Eurozone Unemployment Rate, Canada

gold daily Gold is impressive once again today as it rises $8 to $2743 after earlier falling as low as $2717. The rebound virtually assures that it will break the weekly closing record of $2719 set just a week ago. It’s been record after record for gold and on Wednesday it touched the best-ever at

The New York Times released a poll today showing Trump and Harris deadlocked. That’s bad news for the Harris campaign as she had previously been leading. Combined with betting odds shifting in Trump’s favor and it’s starting to feel like we’ve hit a tipping point. The bond market has been selling off steadily today, which

SPX weekly chart A strong gap higher at the open quickly turned into a day of disappointment for bulls. After surging nearly 50 points in early trading to hit 5860, sellers stepped in and methodically unwound those gains throughout the session. The late morning and early afternoon saw particularly steady selling pressure, though buyers did

US UMich October final consumer sentiment 70.5 vs 69.0 expected US September durable goods orders -0.8% versus -1.0% expected Canada August retail sales +0.4% vs +0.5% expected Canada Sept new housing price index 0.0% vs 0.0% prior Baker Hughes US oil rig count -2 BOC Macklem: If population grows slows more than assumed, headline GDP

AI image The Fed blackout starts at midnight but the week ahead is packed with market-moving data, decisions and earnings reports. Here’s a day-by-day preview of the week ahead: MONDAY, OCTOBER 28 US data: Dallas Fed manufacturing activity UK: Lloyds Business Barometer Japan: Jobless rate, job-to-applicant ratio ECB’s Wunsch speaks Earnings: Ford, Waste Management US

With the drop today, gold is down 0.1% on the week and looks to end its latest weekly winning streak at two. There’s still US trading to follow later though but there are a couple of things to note with the latest decline here. On the daily chart, it might not seem like much: Gold

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 your initial investment; do not

Deutche Bank is out with a critical reminder today that the US government is spending far more than it takes in annually. In 2023: Total Outlays (Spending): $6.13 trillion Total Receipts (Revenue): $4.44 trillion Deficit: $1.69 trillion To get that back into balance, you need to either 1) raise taxes very much or 2) cut

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 your initial investment; do not

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 your initial investment; do not

The Beige Book showed economic activity was “little changed in nearly all Districts” compared to August’s report which had three Districts showing growth and nine showing flat/declining activity. Employment growth moderated further, with hiring now “focused primarily on replacement rather than growth” compared to August’s steady levels Manufacturing weakness became more widespread, with “most Districts”

Prior -17.0% Market index 214.8 vs 230.2 prior Purchase index 131.3 vs 138.4 prior Refinance index 672.6 vs 734.6 prior 30-year mortgage rate 6.52% vs 6.52% prior Another week, another plunge in mortgage applications as higher rates continue to weigh on the market. Both purchases and refinancing activity fell sharply with the latter once again

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 your initial investment; do not