Big day tomorrow on the earnings front The major indices fell sharply on Covid/election fears. European countries imposed new restrictions. Case count continue to rise putting pressure on hospitals. A lack of a coronavirus stimulus deal in the US is also weighing. Finally, uncertainty about the upcoming election is also frightened traders. The volatility index (Vix index )rose
Down $2.18 or -5.51% The price of WTI crude oil futures have tumbled sharply in trading today. The price of the December contract settle at $37.39. That was down -$2.18 or -5.51%. Crude oil inventories rose by a greater expected 4.32M barrels (1.5M build expected). Gasoline, and distillates did see a greater than expected drawdown, however.
It is going to be a decisive day for Germany and France The potential impact on two of Europe’s biggest economies is not resonating well with the euro and the single currency is trading below 1.1800 against the dollar: Topside price action was limited around the 100-hour MA (red line) in trading yesterday as sellers
Up $1.01 or 2.62% The price of crude oil futures settle today at $39.57. The price moved up $1.01 or 2.62%. The high for the day for the December contract reached $39.83. The price remains below its 100 and 200 day moving averages. The 100 day moving average is up at $40.95. The 200 day
The greenback is the laggard to start the day EUR/USD is running into a test of its 100-hour MA (red line) as we look to get into European morning trade, with buyers attempting to wrestle back near-term control in the pair after the shove lower yesterday fell short of testing the 1.1800 level.For bank trade
Trades near unchanged on the day While stocks tumble lower and yields move to the downside, the price of gold has been relatively steady. The price has been trading above and below unchanged. The price is currently up about $1 or or 0.06% at $1903.14. The high for the day reached $1908.59. The low was at $1891.38.
Highlights of the debate E-mini was trading down -4.58 points at the start of the debate. Pres. Trump A vaccine will be available in weeks Vaccine is not guaranteed but will be coming by the end of the year there will be no dark winter for Covid we are learning to live with the virus. We have no
Swing area and topside trend line on hourly stalls the rally The USDJPY move higher yesterday and in the process tested a topside channel trendline and a swing area in the 104.92 – 104.94 area. That trend line and swing area stalled the rise. Trading in the new day has moved back lower and gotten closer to the
EUR/USD pares its decline in a slight nudge higher from 1.1804 to 1.1819 For bank trade ideas, check out eFX Plus The German economy is keeping more resilient in the wake of the second virus wave in Europe, as the manufacturing sector is doing the heavy lifting – helped by export demand – in limiting
The dollar slips to its lowest levels on the day The more upbeat German manufacturing PMI data earlier is helping to give regional stocks a broader lift and in turn that is translating to some weakness in the dollar now. This also comes as the euro is nudging a little higher and buyers have seized
EUR/USD aims towards the week’s highs as the dollar keeps weaker For bank trade ideas, check out eFX Plus The shift in the market mood came after the German manufacturing PMI beat earlier and since then, the dollar is finding it tough to stand its ground after having snapped a four-day decline in trading yesterday.
Sterling gains fade The New Zealand dollar is the top performer this week while the US dollar was the laggard. Even today with USD staging a bit of a comeback, it’s not sticking as the kiwi pushes back into positive territory. The break above the October highs is constructive for a retest of 0.6800 in
It wasn’t a dumpster fire, so sellers cover The S&P futures have turned positive now with the index up 0.14% at 3454. The move to the upside is probably attributed to the debate that was more debate vs. the yelling and screaming from the 1st debate. Going forward, the other story that traders have been
The dollar is maintaining a slight advance for the most part thus far For bank trade ideas, check out eFX Plus The dollar is holding its ground on the session and is keeping a modest advance against the pound, as cable slips to a session low of 1.3093 and testing the 1.3100 handle. A drop
The USD remains the strongest and the AUD is the weakest of the majors The USD remains the strongest of the major currencies, while the AUD is the weakest. That puts the AUDUSD as the biggest mover. The pair is currently trading down -0.37% on the day. It outpaces the USDCAD which has moved 0.22% (and is
USD/JPY falls to its lowest level since 22 September, just below 105.00 Dollar weakness is the major theme in the currencies market today and it is apparent that a lot of that is riding on the back of hopes of a stimulus deal coming – one way or another. While short-term headlines may still bring
NASDAQ snaps 5 day losing streak. Dow and S&P break 4-day decline The US major indices snapped their losing streaks but also close well off there intraday highs. The NASDAQ index had had a 5 day losing streak while the Dow and S&P declined for 4 straight days. S&P index closed up 16.23 points or 0.47%
House leader Pelosi speaking As the Speaker of the house Nancy Pelosi talks about a stimulus package, the US stocks have moved to a new session highs. The S&P index rose to 3465.45. It is currently up 1% at 3461 The NASDAQ index reached a high of 11592.48. It is currently trading at 11573, up 93 points or 0.82% The