Central Banks CIBC sees the Bank of Canada cutting rates by 150 basis points next year The Bank of Canada left rates unchanged today at 5.00% but maintained a hawkish bias. CIBC thinks current rates will be enough to restrain inflation …
Technical Analysis USDCHF pushes against 200 hour MA Posted onOctober 25, 2023 The USDCHF is higher in the day,, near its high for the day and pushing against its 200-hour moving average (green line on the chart …
Technical Analysis New lows in stocks. Nasdaq now down -2%. The S&P is below 4200 level. Posted onOctober 25, 2023 Nasdaq is now down 2% on the day which is the largest decline since August 2 when the index fell -2.17%. The 38.2% retracement target …
Central Banks Atlanta Fed GDPNow final estimate for 3Q growth comes in at 5.4% Posted onOctober 25, 2023 The Atlanta Fed GDPNow 3Q model estimates 3Q growth at 5.4%. That is unchanged from the previous estimate.The estimate is the final one ahead of …
Technical Analysis NASDAQ index falls to a new session low and closer to key technical support Posted onOctober 25, 2023 The NASDAQ index continues its run to the downside and it currently trades down -1.77% at 12906. The index is working toward being one of …
Technical Analysis EURUSD bounces higher after recent swing lows stalled the fall Posted onOctober 25, 2023 The EURUSD rose sharply on Monday and fell sharply on Tuesday. Today, there has been a further rotation to the downside that took the price …
Trading Education Morning Star Candlestick: A Forex Trader’s Guide Posted onOctober 25, 2023 Signalling a bottom in the market and possible reversal, the Morning Star is a useful FX tool. Source
Central Banks Sam Bankman-Fried to testify in his own defense Posted onOctober 25, 2023 A lawyer for Sam Bankman-Fried said he will take the witness stand in his own defense as soon as tomorrow. “Our client is also going …
Central Banks BOC’s Macklem: We are seeing clear evidence that higher rates are working Posted onOctober 25, 2023 The exchange rate is part of how monetary policy works Normally large rate hikes boost the currency but because the US is also hiking, the …
Technical Analysis AUDUSD trades to new session lows Posted onOctober 25, 2023 The Australian CPI came in stronger than expected earlier today (see data here). The initial reaction in the Asian session was to the upside in …
Central Banks Macklem: Inflation is on a higher path than we expected Posted onOctober 25, 2023 Demand pressures have eased more quickly than we forecast in July Overall inflation risks have increased since July We held policy rate steady because we …