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FX option expiries for 6 November 10am New York cut
EUR/USD 1.1250 (EUR 624.89 mn) 1.1150 (EUR 960.00 mn) USD/JPY 159.00 (US$ 1.65 bn) 158.00 (US$ 4.24 bn) 157.00 (US$ 1.72 bn) GBP/USD 1.3475 (GBP 446.81 mn) 1.3315 (GBP 425.75 mn) 1.3200 (GBP 591.51 mn) USD/CHF 0.8175…
What are the main events for today?
EUROPEAN SESSION In the European session, we don't have much on the agenda other that a couple of low-tier releases like the Swiss consumer confidence and the Eurozone retail sales. The data won't change anything for the…
Nasdaq analysis after yesterday's crash: Is this the dip investors have been waiting for?
Nasdaq futures rebound after a 16.6% plunge. Is this a dip to buy or a rally to sell? Nasdaq futures have bounced nearly 800 points from a major historical support zone, but Wall Street's earnings mood remains defensive.…
investingLive Americas FX news wrap 5 Nov: Nasdaq 100 plunges 6.36% as AI selloff spreads
Nasdaq 100 suffers worst day since 2020 Magnificent 7: What are the technicals telling traders for each of those companies him WTI crude oil settles at $90.52, up 2.72% as buyers defend key support Non-farm payrolls…
Nasdaq 100 suffers worst day since 2020
The Nasdaq 100 fell 6.36% on Thursday, its worst day since 2020, as investors sold everything from memory and storage stocks to chip equipment makers and data-center suppliers. The Nasdaq Composite fell 5.52%, the S&P…
Magnificent 7: What are the technicals telling traders for each of those companies him
In the video above, I take a look at the Magnificent 7 as the broader U.S. indices sell off sharply. The S&P 500 is down around 4%, the Nasdaq Composite is down 5.10%, and the Nasdaq 100 is down 5.75%. All seven stocks…
WTI crude oil settles at $90.52, up 2.72% as buyers defend key support
U.S. crude oil futures settled at $90.52 a barrel on Thursday, up $2.40 or 2.72% from Wednesday’s $88.12 settlement. The rebound follows a drop of more than 8% on Wednesday, when the U.S. midterm results raised hopes…
The market is waiting for signals from Donald Trump
I spoke to Reuters earlier today about the state of markets and my comments boiled down to this: "There are two paths Trump can go down - he can double down on unpopular trade wars or he can listen to the electorate…
Europe Close: AI and chip liquidation drags equities lower in US, but Europe is mixed.
As London and European traders head home, the main story is the liquidation in US stocks. AI and chip names are taking the hardest hit as investors weigh the path forward after the US midterm elections. Yesterday, the…
AUDUSD sellers have pushed to the lowest level since mid-October. What next?
Sellers have been leaning against retracement levels. Going back to last week, the rally in the AUDUSD stalled near 0.7065, the 50% retracement of the move down from the September 9 high. Staying below, kept the seller…
Oil cracks are beginning to fall and refineries are pointing to more normalization
The price of oil at $89 isn't that big of a problem for consumers or businesses. Crude has come down dramatically this week and a big part of that is expectations that Trump or Congress will find a way to open Hormuz and…
Bitcoin falls with risk off sentiment. The price is testing a key swing area target.
Recall that Bitcoin moved higher with stocks on Wednesday, pushing back above $79,146 and into the old swing area that extends to $81,930. The move gave buyers a shot at taking back more control. To do that, they needed…
Nasdaq Composite breaks the July low in 5.5% rout
The rout is on in stock markets. The Nasdaq Composite broke the 200-day moving average at the open and it's been non-stop selling from there. The index has now cut through the July low and is trading at the worst levels…
The market is telling the hyperscalers it's happy about a slower data center buildout
Perhaps the clearest takeaway from Tuesday's US midterms is that data centers are unpopular. After a short-lived construction boom, they provide little ongoing employment and drive up local energy costs. There were 41…
US broader indices are getting hammered
This article was written by Greg Michalowski at investinglive.com.
Memory names getting smoked: Micron breaks the July low in 12% drop
Shares of Micron have taken an ugly turn today, dropping 12% and breaking support at the July low. Chip stocks are down heavily as the market re-thinks the pace of the AI build out. There are a few reasons for the change…
Crude oil tests the key confluence area and finds willing buyers
Crude oil futures fell sharply yesterday as traders weighed the chances of an end to the war with Iran. Senate Democratic Leader Chuck Schumer said Democrats would push to end the war and pointed to support from some…
Fed's Barkin: Gradual pace of hikes "makes sense"
Policy is somewhere around neutral The path on policy is straightforward, the issue is pace and gradual "makes sense" Do not anticipate inflation will accelerate but also don't see it as falling at this point The set of…
Marco Rubio ‘on resignation watch’ - report
The Independent reports that Marco Rubio "is on resignation watch from both sides of the Atlantic in the expectation he will quit to lauch a bid to be the next US President". The report cites "senior party sources in the…
Fed's Hammack: Gradual rate hikes are the best way to get inflation to target
Hammack voted for a hike at the last meeting so her view is that 'gradual' means every meeting. Other comments: Gradual rate hikes less disruptive Mon pol needs to move to a restrictive stance Gradual hikes are best way…
US Q3 productivity +3.6% vs +2.8% expected
Prior was +1.4% Unit labor costs -0.7% vs +0.6% expected Prior unit labor costs +1.2% On the face of it, these look strong disinflationary but these numbers are largely ignored by policymakers because they're notoriously…
US initial jobless claims 189K vs 196K estimate
Prior week initial claims 194K Prior week continuing claims 1.701M Details Initial jobless claims (October 31) fell 6,000 to 189,000. Prior revised to 195,000 from 194,000. Initial claims four-week average fell 2,250 to…
BoE Governor Bailey says there is a case for another 25bps hike if war doesn't end
Governor Bailey warned that another 25 bps rate increase could be justified if the conflict in Iran does not come to an end. Bailey stressed that the UK needs to limit the inflationary impact of the conflict,…
Morning Kickstart: BOE hikes to 4% as sterling struggles to hold its gains
In the morning video above, I take a look at the three major currency pairs—EURUSD, USDJPY and GBPUSD—from a technical perspective. For each pair, I outline the bias, the risk-defining levels and the targets that would…