In this vieeo, I take a look at all the major currencies vs the USD and outline the bias (bullish or bearish), risks and targets. Be aware and prepared for the new trading week. Below is the start and end times for each pair. Introduction 0:00 to 2:05 EURUSD: 2:05 to 4:55 USDJPY: 4:55 to 8:00 GBPUSD: 8:00 to 11:55 USDCHF: 11:55 to 15:50 USDCAD: 15:50 to 19:00 AUDUSD: 19:00 to 22:53 NZDUSD: 22:52 to 25:30 This article was written by Greg Michalowski at www.forexlive.com ..read more

Nasdaq index gets creamed as high flyers take it on the chin Feds Financial Stability Report: Persistent inflation/tigher policy biggest risk Bank of Canada's Macklem: Inflation is continuing to become less broad-based Crude oil futures settle at $82.22. What are the technicals telling traders. ECBs Muller: Sees a few more rate cuts by year end after June IMFs Japan Mission Chief: Weak yens impact on Japans economic growth is net positive BOEs Mann: Central banks will have to use autonomy effectively Baker Hughes oil rig count 511 vs 506 last week European indices close the week with mixed re ..read more

The US major indices closed mixed as investors flowed out of of large-cap technology stocks and into the relative safety of the industrials. The Dow industrial average rose, while the NASDAQ index got creamed with its largest decline since January 23 when the index fell -2.23%. Today the index fell -2.05%. A look at the final number shows: Dow Industrial Average average rose 211.02 points or 0.56% at 37986.41 S&P index fell -43.87 points or -0.88% at 4967.24. The decline was the 6th consecutive down day for the index. NASDAQ index tumbled -319.49 points or -2.05% at 15282.01.The decline w ..read more

The Fed is out with the details of semiannual Financial Stability Report. In it they say: Persistent inflation, tighter monetary policy remain most cited potential risk to the financial system 'Policy uncertainty,’ including escalating geopolitical tensions and upcoming US elections, cited by 60% of respondents as potential financial stability risk Commercial real estate and banking sector stress less frequently cited as stability risk than in Fed's fall 2023 survey Nearly two-thirds of respondents mentioned policy uncertainty as a risk, significantly higher than in the October report Cyberat ..read more

The Bank of Canada's Macklem is on the wires saying: At first glance, federal budget does not really change fiscal track since the Nov 2023 fall economic statement Budget contains spending measures and new taxes; federal government's commitment to stick to fiscal guard rails is helpful Reiterates bank will be looking for evidence that the recent downward momentum in inflation is sustained Canadian inflation is continuing to become less broad-based; things are moving in the right direction Overall we see downside risks to the inflation outlook are lower than they were There are some signs of s ..read more

and the beat (or beating) of the NASDAQ index goes on. The index is now down -2.21%. That's the worst day since January 31, when the index fell -2.23%. The price is moving further away from its 100-day moving average of 15488.78. The next support. Cons between 15012.77 and 15158.49. That area encompasses the 38.2% retracement of the longer-term move up from the October 26 low and other swing highs and lows going back to December and January (see red number circles on the chart above and the yellow area). This article was written by Greg Michalowski at www.forexlive.com ..read more

The price of crude oil settled at $82.22. That's up $0.12 or 0.14%. The high price extended all the way up to $85.64 soon after the Israeli strike on Iran. Low price was at $81.13. The high price for the week reached $86.18. The low price was at $81.06. Last week's closing level was at $85.66. So at current levels the price is down -3.99% on the week. The high price for April (and for 2024) reached $87.67 on April 12. That was the highest level going back to October 23, 2023. Looking at the daily chart, the corrective moved to the downside this week was able to get back below the 50% midpoint ..read more

ECBs Muller is weighing in on rate cuts in 2024 by saying: I can see a few more rate cuts by year-end after June if economy in line with ECBs expectations. Of course so easy the officials including ECB Pres. Lagarde has expressed this week that there is no pre-set arrangement as far as rates go - but they can strongly hint of their true thinking perhaps. This article was written by Greg Michalowski at www.forexlive.com ..read more

In perhaps the understatement of the year, the White House is saying they do not want to see the conflict in the middle east escalate and that it has no comment on reports on Israel and Iran development. Although it is obvious the comment, the US does not want to be associated with escalating tensions with Iran.Israel lobbing some missiles toward Iran is one thing. If the US is lobbing rockets at the same time, that would not be good from a "hope for peace and de-escalation standpoint" This article was written by Greg Michalowski at www.forexlive.com ..read more

The price of gold is on pace to close at a new record level today. A. How close level is $2832.30 on Monday, April 15. The low this week was on Monday at $2324.42. The point today at $2417.89 was the highest price for the week. The high intraday price was reached last Friday at $2431.78. For the tree week the price is currently up around 2.37%. Looking at the hourly chart below, the price action has been up and down this week, but the 200-hour MA has been a good job stalling the falls recently. It would take a move below that MA level - and staying below - to increase the bearish bias. This ar ..read more