Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

Forexlive Americas FX news wrap: Stocks get hammered & close near session lows for 3rd day

Posted: 21 Jan 2022 01:49 PM PST

WTI crude oil futures settles at $85.14 to end the trading week Not so fast with that breakout in Treasury yields OPEC+ continues to struggle to meet its production quotas Beijing reports 12 new covid infections Baker Hughes oil rig count falls 1 to 491 Yellen: Inflation is

Another bloodbath as the S&P 500 closes below the 200-DMA Worst week since March 2020

Posted: 21 Jan 2022 01:11 PM PST

The 200-day moving average in the S&P 500 is not to be taken lightly. The last time we had a genuine break below was at the start of the pandemic and it was a free fall from there. Notably, a few minor incursions (pun intended) below have ultimately been buying opportunities. On the day:S&P

What's coming up on the US earnings calendar next week

Posted: 21 Jan 2022 12:54 PM PST

After the painful drops in US financials after earnings followed by today's 23% drop in Netflix after disappointing guidance, it's a daunting time to be reporting. Here's a look at who is on the earnings calendar next week. The main event is also the FOMC decision on Wednesday and that will be follo

Not so fast with that breakout in Treasury yields

Posted: 21 Jan 2022 12:39 PM PST

The breakout in bond yields isn't exactly going to plan.The ugly turn in the risk trade is hitting hard with 10-year yields now down 8 basis points to 1.749%. Importantly, that's below the old 1.77% breakout line and if we close down here it will invalidate the breakout on the weekly candle.

Stocks extend their fall as traders continue to sell, sell, sell.

Posted: 21 Jan 2022 12:22 PM PST

The US major stock indices continue to tumble lower. The last two trading days has seen selling into the close, and with less than an hour left and trading, the pattern may be continuing today.   The E-mini S&P futures contract is now broken below its 200 day moving average.   The S&P 500 cash index

MUFG trade of the coming week: Sell EUR/CAD

Posted: 21 Jan 2022 12:10 PM PST

EUR/CAD is up today but still trading near a five-year low at 1.4256. MUFG thinks it will fall further and recommends selling the pair with a target of 1.3500 and a stop at 1.4670. "We are recommending a short EUR/CAD trade idea. We believe that fundamentals remain supportive for a stronge

OPEC+ continues to struggle to meet its production quotas

Posted: 21 Jan 2022 11:23 AM PST

OPEC+ compliance with its quotas was about 122% in December, according to two sources cited by Reuters. That rose from 117% in November. A higher number means less production and the report's sources highlight that some countries are struggling to lift output in order to hit quotas. There

Beijing reports 12 new covid infections

Posted: 21 Jan 2022 11:15 AM PST

Multiple unrelated outbreaks are ongoing in Beijing, health officials said today after announcing 7 new symptomatic cases and 5 asymptomatic cases. "There are clusters from two different sources. The first one was infected by international mail. There are five local

Baker Hughes oil rig count falls 1 to 491

Posted: 21 Jan 2022 10:04 AM PST

The weekly Baker Hughes rig count data is in:Oil rigs fell -1 to 491 Natural gas rigs rose 4 to 113Total rigs rose +3 to 604 for the current weekThe price of WTI crude oil futures are trading at $84.85. That's down $0.84 on the day (March contract). The high price reached $85.56 the low price extend

Yellen: Inflation is a valid policy concern

Posted: 21 Jan 2022 10:03 AM PST

This is what drives people insane about wonks. Yellen was driving the 'transitory' bus but as soon as it hits a few speed bumps, she hedges. At some point you need to either double down or fall on your sword.I get the sense that the White House thinks her reputation carries some kind of weig
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