GBPUSD technicals The GBPUSD moved higher today after basing earlier in the week within a lower swing area between 1.3360 and 1.3378. The upside momentum accelerated today after the pair pushed above its 100-hour moving average, currently at 1.3416 (blue line on the chart), and found additional buying interest in the early U.S. session. That … Read more
The major European indices are ending the week with mixed results: German DAX, -0.35% France’s CAC, +0.01% UK’s FTSE 100 +0.22% Spain’s Ibex -0.04% Italy’s FTSE MIB +0.46%. For the trading week,: German DAX +0.14% France’s CAC -0.08% UK’s FTSE 100 +0.57% Spain’s Ibex, -0.14% Italy’s FTSE MIB, +0.58% Next week will have the clock … Read more
Is the dollar let out of the dog house just yet? Well, not exactly. The latest recovery in the greenback in the past two weeks comes as Trump is threatening tariffs once again. It’s a more moderate version of Liberation Day one might say, with TACO trades seemingly fully priced in before this. So, what’s … Read more
Sun: Japanese Upper House Election Mon: PBoC LPR; Canadian PPI (Jun), US Leading Index (Jun), New Zealand Trade (Jun), UK CBI (Jul) Tue: UK PSNB (Jun), US Richmond Fed (Jul) Wed: EZ Consumer Confidence Flash (Jul) Thu: ECB & CBRT Policy Announcements; EZ, UK & US Flash PMIs (Jul), US Weekly Claims, National Activity Index … Read more
After the Financial Times reported that Pres. Trump is pushing for a 15 – 20% tariff on all the EU goods and looks to keep 25% tariff on autos, the US stocks have tilted to the downside. Dow industrial average -0.55% S&P index -0.18% NASDAQ index 0.16% Russell 2000-0.64% Both the S&P and the NASDAQ … Read more
The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) is the first comprehensive federal law to regulate U.S. dollar–backed stablecoins. It outlines clear rules for who can issue stablecoins, how they must be backed, and what compliance standards they must meet. Stablecoins are a type of cryptocurrency designed to maintain a stable … Read more
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 … Read more
California Gov. Gavin Newsom proposes to ease permits for oil drilling in California. Governor Gavin Newsom has not supported new drilling, but is also under pressure to stabilize energy supplies, particularly after recent refinery closure announcements. While he remains committed to phasing out oil drilling by 2045, state regulators have recommended limited new well permitting … Read more
The NASDAQ index is closing the day higher and has closed at record levels each day of this week. The gain however, was marginal with a rise of only 0.05%. Nevertheless, it was good enough for a record. The NASDAQ has closed at a record level 11 different times this year. The index rose 11.39 … Read more
U.S. Treasury Secretary Scott Bessent said a trade deal with Japan remains in the “realm of possibility,” but emphasized that securing a good deal is more important than rushing one. He indicated that negotiations are ongoing and that the outcome of Japan’s upcoming election could be pivotal to reaching an agreement. Hope springs eternal, but … Read more
