Dollar Falls as Stocks Rally
The dollar index (DXY00 ) on Thursday fell by -0.30%. A rally in stocks Thursday reduced the liquidity demand for the dollar. Also, the dollar fell back on Thursday’s news that U.S. weekly continuing jobless claims rose more than expected to a 9-1/2 month high, which was dovish for Fed...
Stocks Climb on Signs the U.S. Labor Market May be Cooling
What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.92%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.83%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.25%. Stocks this morning are moderately higher on some short...
USDJPY Bottoms For Now; More Weakness After Rally
Five waves down on USDJPY is bearish so be aware of further weakness after three wave recovery.
USDCAD Testing 61.8% Fib Retrace of Oct-Nov Slide
The (USDCAD) has bounced strongly off the November low, and is suddenly testing the 61.8% Fib retrace of the October to November slide. For now, the USDCAD appears to want to complete the Bull Flag consolidation since the October high, and retest the 2022 high and the psychologically key 1.40 whole figure level by January sometime.
Dollar Undercut by Lower T-note Yields
The dollar index (DXY00 ) on Wednesday fell by -0.47% due to lower T-note yields. Also, there was strength in the euro due to hawkish comments by ECB Governing Council member Kazimir who signaled support for a +75 bp rate hike at next week's ECB meeting. Wednesday’s U.S. economic news...
The Dollar Index Moves Towards Technical Support
The dollar index rallied to its highest level since 2002, reaching 114.745 in September 2022. However, the index ran out of upside steam and is now threatening a test of the previous resistance level that has become technical support.
Stocks Under Pressure as Weak Chinese Trade News Sparks Global Growth Concerns
What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.09%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.18%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.67%. Stocks this morning are mixed, with the Nasdaq 100...
Markets Today: Stocks Mixed On Negative Chinese Trade News
Morning Markets The S&P 500 is up slightly and the Nasdaq is down -0.2%. Weak Chinese trade news is compounding concerns about the global economy's health after China Nov exports fell -8.7% y/y, weaker than expectations of -3.9% y/y and the biggest decline in 2-3/4 years. The markets are concerned...
Can Gold and Silver Rebound?
Actionable ideas and risk management for Gold, Silver, and metals . . .
Dollar Gains as Stocks Slump
The dollar index (DXY00 ) on Tuesday rose by +0.26%. The dollar Tuesday recovered from early losses and moved moderately higher. A sell-off in the S&P 500 Tuesday to a 2-1/2 week low boosted liquidity demand for the dollar. The dollar Tuesday initially moved lower on lower T-note yields and...