WTI crude oil futures settle down $1.65 or -4.25% WTI crude oil futures are settling at $37.14. That is down $-1.65 or -4.25%. The high price today reached $38.61 the low price extended to $37.06 Technically, the price has been moved back toward the swing low and retracement area between $36.93 and $37.11. Next week
Technical Analysis
The 100/200 day MA stalled the rally on Wednesday. Nevertheless, a Trump victory would hurt the MXN (he is just a hibernating bear). A Biden victory would conversely be more positive for the MXN (weaker USDMXN), even if it is only the relief that bear has left the neighborhood. Also the post, a move to the upside would target the 100 and
NASDAQ closes up 9% for the week The major indices are closing little changed. The NASDAQ index closed marginally higher for the 5th consecutive day the S&P index fell marginally snapping a 4 day winning streak the Dow industrial average also fell snapping its 4 day winning streak major indices have their best week since April
The USD is mixed ahead of the US employment report The CHF is the strongest and the AUD is the weakest as the NA session begins. The USD is mixed ahead of the US jobs report which is expected to show a gain of 593K. That has trended a bit lower after the ADP jobs
Dow, S&P and NASDAQ on track for the best week since April The major stock indices closed sharply higher for the 4th consecutive day. The Dow, S&P and NASDAQ on track for the best week since April: 10 of the 11 sectors of the S&P closed higher with energy dipping into the negative at the
The dollar has erased its early election night gain Besides cable, the rest of the major dollar pairs have pretty much reversed the gains in the greenback seen on early election night when the race emerged to be a tight one. EUR/USD is now up to a one-week high close to 1.1800 while AUD/USD has
But problems with the small-cap. Russell 2000 index closes unchanged. The major indices closed sharply higher despite the uncertain election outcome. The NASDAQ index led the way to the upside. Some highlights for the day include: Major indices closed higher for the 3rd straight day. S&P closed as highest level since June 5 NASDAQ leads
Dollar hangs on to most of its gains as the US election proves too close to call on the night itself For bank trade ideas, check out eFX Plus In a way, the market is pretty much reversing the moves from yesterday as we see the dollar recoup the losses going into election day itself.
Up $0.85 or 2.31% The WTI crude oil futures are settling at $37.62. That’s up $0.85 or 2.31%. There are some conflicting news reports today impacting the price. One was Libya oil production has increased. On the positive side is that OPEC+ is looking toward extending cuts 6 months to offset potential demand declines due to
EUR/USD runs into a test of its 100-hour moving average For bank trade ideas, check out eFX Plus The downside move in the pair yesterday tested the support region around 1.1612-27 from the late September lows before consolidating closer to 1.1640-50. But as we get into election day, the dollar is weakening as we see
Rise stalled ahead of the 38.2% and 100 hour MA The AUDUSD moved higher on the day, but stalled ahead of resistance targets defined by the 38.2% of the move down from last weeks high at 0.70536. The pair also stalled ahead of the falling 100 hour MA which is back in play after running
Big declines for the week for the major European stock indices The European major indices are ending the session with mixed results for the day. For the week gets a different story as shares plunged across the European continent. The provisional closes are showing: German Ibex, -0.19% France’s CAC, +0.61% UK’s FTSE 100, +0.14% Spain’s Ibex, +0.4%
Tested yesterday and rebounded. After an up and down day, the pair is back down retesting the MA level The NZDUSD is back down retesting the 100 day MA. Recall from yesterday, the pair moved down to that level and found support buyers. Today after some ups and downs, the pair has returned to
Down $0.38 or -1.05% The price of crude oil futures settle at $35.79. That is down -$0.38 or -1.05%. The high price reached $36.60. The low price reached $35.21. The price last week closed at $39.85. With the close this week at $35.79. That represents a -10.2% decline for the week. Driving the price lower
Treasury yields break the high US 10-year yields are now up 4.4 bps on the day to 0.8670%. It’s highly unusual to see US stocks down 2-3% and Treasury yields higher. There are two possible explanations: Month end flows Treasuries sensing a Biden win Flows are flows so we will get an answer to that
NASDAQ index leads the way to the downside The major indices are closing lower on the day but did rebounded into the close which eased some of the downside pain. Dow close that is lowest level since July 31 Amazon, Apple close over 5% lower. Apple closes 20% below its all-time high Twitter plunged 21%
High was on Monday. Low was on Thursday against the key 100 day MA The EURUSD is correcting higher and is currently testing a swing area between 1.16879 1.16931. The swing low from October 15 and 16 defined that area. Earlier today, the high price moved up to test the upper extreme (traded to 1.1694). That area is
Rebound in crude, lead to some profit taking The USDCAD moved above its 100 day MA at 1.3331 earlier today (after testing and backing off on the first look). The move above was the first time since June 2020. The high price reached 1.3389, but as crude oil bottomed and started to move back higher,
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