Gold gains by 1% on the day as dollar flounders (19-Oct-2021 at 12:53:49 pm)
Gold is up 1% on the day, recovering some ground after Friday's drop Any major downside is more limited closer to support around $1,676 while recent upside momentum is capped by the key daily moving averages and short-term trendline resistance from the 1 June to 3 September highs.
AUD/USD runs into a test of the September highs as dollar slips, risk advances (19-Oct-2021 at 12:15:33 pm)
AUD/USD trades up to 0.7475, its highest since 3 September The pair is now flirting with the September highs of 0.7469-78 and is up over 0.8% on the day as the dollar is keeping weaker to start European trading and as we see a slightly more positive tilt in the equities space to start the session.
Cable trades to highest in over four weeks, eyes key resistance ahead (19-Oct-2021 at 09:52:09 am)
GBP/USD trades up to 1.3774, its highest since 17 September The pair is largely capitalising on the dollar's recent weakness as it extends gains after a bit of a breather yesterday. The push higher today has already erased the declines to start the week as price climbs to its highest in over four weeks now.
Dollar on the backfoot ahead of European trading (19-Oct-2021 at 09:41:03 am)
Dollar resumes fall after a bit of a breather yesterday The greenback is modestly lower across the board as we are seeing some decent moves play out going into Europe today. Treasury yields erasing its advance late on yesterday isn't quite helping with the mood, alongside the technicals for the time being.
The earnings calendar for the week kicks in tomorrow (19-Oct-2021 at 12:17:24 am)
Netflix, Philip Morris, Johnson & Johnson, United airlines highlight the releases tomorrow Other major releases include:Tuesday, October 19Wednesday, October 20Thursday, October 21Friday, October 22
EURJPY works on 8th straight day to the upside. (18-Oct-2021 at 11:02:54 pm)
Price trades at the highest level since June 17 The EURJPY is up for the eighth straight day. In the move higher, the price last week extended above both its 200 day moving average (currently at 129.91) and the 100 day moving average (currently at 130.433). There has been little in the way of a correction since the breaks.
Nasdaq trades to a new high (18-Oct-2021 at 10:23:33 pm)
The index is up 0.60% The NASDAQ index trades to a new session high of 14986.99. That is up around 90 points or 0.6% on the day. The the NASDAQ is moving higher as Apple announces new products including a new Mac with the new M1 Pro chip, and new AirPods. Apple shares are trading up $0.80 or 0.55% $145.64.
EURUSD moves to new highs. Test last week's high (18-Oct-2021 at 09:50:48 pm)
High price from last week at 1.16238 eyed by traders As a review (), the price declined in the Asian session but found key support against the 200 hour moving average at 1.15705. The low price reached 1.15711. In the early US session, the price moved up to a swing area between 1.1607 and 1.16127. The
USDCHF tried to move above the 100/200 hour MA but failed (18-Oct-2021 at 08:59:06 pm)
100/200 hour MAs at 0.9251 and 0.92645 respectively The USDCHF moved higher from the "get go" in the Asian session, and in the process moved above the 100 hour MA (blue line) and 200 hour MA (green line) at 0.9251 and 0.92645 (currently) respectively. The run above the 200 hour moving average should've solicited more buying, but instead found sellers.
NZDUSD bouncing higher. Back up on the day. (18-Oct-2021 at 08:19:39 pm)
The dip stalled at the 61.8% retracement level The move higher earlier in the session came after the higher-than-expected inflation for the quarter which came in at 2.2% versus 1.5% estimate. That run higher saw the price spike above the key 200 day MA at 0.70975 to a high at 0.7104, but the momentum quickly faded and buyers turned to
USDCAD bears keep the bias in their favor (18-Oct-2021 at 07:14:27 pm)
Corrective move higher stalled ahead of its falling 100 hour moving average The move to the upside in the Asian session saw the price move up to 1.2409 and closer to its falling 100 hour moving average. At the high, the 100 hour moving average (blue line in the chart above) was just above that level at
US stocks open lower underpinned by rising oil prices/slower China/higher yields (18-Oct-2021 at 06:37:06 pm)
Dow down -0.5% leads the way A snapshot of the market is showing: in other markets,:
The GBPUSD is banging on supports door. (18-Oct-2021 at 06:29:02 pm)
Support between 1.37208 and 1.3733 The low price for the day did crack below the 61.8% retracement at 1.37208 on its way to a low for the day at 1.3716, but could not sustain momentum on that break. The current price is trading at 1.3726 which is still above the 61.8% retracement level (and low of the swing
USDJPY stalls near highs from last week and ahead of the 2018 high (18-Oct-2021 at 06:14:16 pm)
2018 high comes in at 114.544 The USDJPY move to a high on Friday of 114.457. That came in just short of the October 2018 high price of 114.544 (which was also the high for 2018 and the highest level since March 2017).
EURUSD moves to new highs after test of hourly MAs finds buyers (18-Oct-2021 at 05:55:42 pm)
200 hour MA stalls the fall today The EURUSD is back up and trading to a new day high in early US trading. The move higher only came after an Asian session move to the downside bottomed against the 200 hour MA at 1.15692 level (green line in the chart below). Also near that level is
The USD is the strongest and the AUD is the weakest as NA traders enter (18-Oct-2021 at 05:21:41 pm)
The week is off The USD is the strongest and the AUD is the weakest as NA traders enter for the day. China had disappointing GDP (down to 4.9% from 7.9% last quarter), and industrial production (down to 3.1% vs 5.3% last quarter). In NZD overnight, inflation was much higher than expected at 2.2% (vs 1.5%
Oil gains not letting up to start the week (18-Oct-2021 at 12:07:36 pm)
WTI up over 1% to $83.20 currently OPEC+ is also keeping the peace and that is allowing for bulls to feel comfortable and overall demand conditions are still relatively bullish going into year-end and next year.
Dollar holds slightly higher to start the day (18-Oct-2021 at 11:34:13 am)
Dollar leads gains going into European trading The aussie is among the laggards as AUD/USD is marked down to 0.7395 at the lows for the day with some added selling in AUD/NZD not helping; the pair is down from the highs of 1.0600 last week to 1.0472 at the moment.
The technical picture for the major currency pairs going into the new trading week (16-Oct-2021 at 07:17:11 pm)
What are the charts saying for the major currency pairs. Heading into the new trading week, what key technical levels are in play that traders around the world will be watching (and why?). Below are the stories.....
US stocks close higher. S&P and NASDAQ close higher for the third consecutive day (16-Oct-2021 at 01:10:54 am)
Dow has a two day win streak two end the week A look at the final numbers shows: For the week,
US stocks continue their run to the upside. (15-Oct-2021 at 11:43:03 pm)
The NASDAQ back above its 200 hour moving average. S&P running away from its 50 day moving average The major US stock indices continue to move higher. With the S&P index up about 34 points or 0.77% at 4473. The NASDAQ index is up about 70 points or 0.48% at 14894.
USDCHF swings up and down in trading today (15-Oct-2021 at 09:36:13 pm)
Test of 100 hour MA at the high, finds sellers. The run higher today reached up toward the 100 hour moving average and the 38.2% retracement of the move down from the September 30 high. Those levels came near 0.9260. The high price for the day reached 0.92633.
European major indices close higher for the day and the week (15-Oct-2021 at 08:50:03 pm)
German DAX tests its 100/50 day moving averages The provisional closes are showing: For the trading week:
NZDUSD tests old swing area from September (15-Oct-2021 at 08:28:57 pm)
Swing area between 0.7072 and 0.7077 The NZDUSD has continued its run to the upside which started on Wednesday near the 0.6908 floor from October 7, October 8 and October 11. The low price on Wednesday reached 0.69106, and bounced higher.
USDJPY rotates lower (15-Oct-2021 at 07:56:36 pm)
Short term technicals tilt The USDJPY has rotated back to the downside (at least in the short term). , I commented on the holding above the 100 bar MA (blue line) as a key barometer for short-term buyers and sellers.
Bitcoin runs above the $61,000 level (15-Oct-2021 at 11:12:21 pm)
Tests the March 2021 high price ahead of the all-time high reached in April
SEC said to not oppose Bitcoin futures ETF (15-Oct-2021 at 07:22:41 am)
The headline getting play: Bitcoin Futures ETF Said Not to Face SEC Opposition at Deadline This'll allow a BTC future ETF to begin trading. Adam gave the heads up on this many hours ago:
MSCI highlight that firms with around US$7tln in market cap have some sort of exposure to cryptocurrencies (15-Oct-2021 at 06:29:15 am)
MSCI is a provider of equity, fixed income, hedge fund stock market indexes for across the globe. Via Bloomberg:
Queensland Investment Corporation (Australian fund) consider crypto investment (15-Oct-2021 at 05:02:21 am)
Via newswires comes info that QIC is pondering a small investment into the cryptocurrency sector. QIC is one of Australia's largest funds, circa 90bn AUD in assets
US' second-largest mortgage lender has dropped its plan to accept crypto (15-Oct-2021 at 03:46:44 am)
United Wholesale Mortgage began piloting crypto payments in August but has decided against extending the program. Trialled acceptance of bitcoin, ether, and dogecoin and multiple different borrowers.
Signs of the approval of a bitcoin ETF continue to mount (15-Oct-2021 at 12:25:33 am)
Some cryptic signs for crypto today An hour ago the SEC tweeted this: The link goes to a bulletin they wrote in June, so it's not necessarily new but there is a frenzy of watching for an ETF approval right now. The last time they tweeted this out was two days before the Bitcoin futures mutual fund
Binance cryptocurrency exchange to stop offering peer-to-peer trading in China by the end of 2021 (14-Oct-2021 at 08:16:37 am)
Binance, is the world’s largest cryptocurrency exchange. News was out overnight so posting as an ICYMI, not breaking or anything. Binance will stop offering its peer-to-peer trading service in China by the end of 2021
G7 statement - Central bank cryptos could complement cash, and have further benefits (14-Oct-2021 at 05:45:58 am)
G7 finance leaders' statement on central bank digital currency (CBDC) and digital payment - innovation in digital money and payments can bring significant benefits but raises regulatory issues
White House says Biden Administration is embarking on ‘Aggressive’ move on cryptocurrency (13-Oct-2021 at 03:30:04 am)
Wall Street Journal with the crypto report - Biden administration will ramp up regulatory scrutiny further. Senior White House official Peter Harrell, senior director for international economics and competitiveness with the National Security Council
Jamie Dimon: Bitcoin is worthless and government regulation is coming (11-Oct-2021 at 09:01:15 pm)
Jamie Dimon sticking to his guns Jamie Dimon has said this many times before and is repeating it today. He said that he personally thinks bitcoin is worthless. He also reiterated that regulation is coming and that it's needed.
Bitcoin passed the test, now it passes $57,000 (11-Oct-2021 at 06:47:46 pm)
A lesson in what happens when something can't go down Bitcoin is up $3200, or 6%, since Friday and has broken above $57,000 for the first time since May. On Friday, I was highlighting the mounting case for buying it. We've seen a barrage of negative news lately including a(nother) ban from China and it became increasingly
ICYMI - US Dept. of Justice announces the launch of National Crypto Enforcement Team (07-Oct-2021 at 04:38:39 am)
U.S. Deputy Attorney General Lisa Monaco announced two Justice Department enforcement initiatives on Wednesday US time. The National Cryptocurrency Enforcement Team.
Bitcoin surges and trades to the highest level since May 12 (06-Oct-2021 at 08:57:41 pm)
Price is up 7 of the last 8 trading days The price of Bitcoin has continued its run to the upside that has seen the price rises seven of the last eight trading days. Over that time. The price has moved up 36.2% or $14,750 from the low on September 29 to the high price today.
Bitcoin nears the September high as debt ceiling concerns rise (06-Oct-2021 at 05:56:19 pm)
Are they related? What's driving the latest leg of bitcoin strength? One theory is that it's debt ceiling concerns. Fear about the debt ceiling and US default is certainly on the rise. 1-year CDS have risen 22 bps in the past week, though that still prices only a tiny chance of default.
AMC CEO tweets accepting Dogecoin, other crypto, in payment for digital gift cards (06-Oct-2021 at 05:18:04 am)
Huge news for the Doge fans he says:
ICYMI - SEC head Gensler says the US won't ban cryptocurrencies (06-Oct-2021 at 01:31:14 am)
An ICYMI from a little earlier, Bloomberg with the article on remarks from Securities and Exchange Commission Chair Gary Gensler Was speaking at a House hearing after a Republican lawmaker asked if a China-like prohibition was on the table in the US
Bitcoin climbs back above $50,000 for the first time in a month (05-Oct-2021 at 03:23:27 pm)
Bitcoin up over 2% on the day to above $50,000 It is the first time since 7 September that price has clipped the $50,000 mark and it's an important psychological win for buyers in trying to maintain the recent upside momentum, after having put up a defense at its 100-day moving average (purple line).
Bitcoin moved above 200 day MA and 50% retracement (01-Oct-2021 at 11:17:50 pm)
200 day moving average broken at $45,201.25 today The price of bitcoin had been scraping along the 100 day MA (blue line in the chart below) over the last 10 trading days. Over that time. there were six days when the price touched the 100 day moving average level including yesterday. Today, the low reached $43,291 with the 100 day moving
White House looking to regulate stable coin issuers like banks (01-Oct-2021 at 08:49:40 pm)
That's going to cause some problems The White House isn't going to tolerate stable coins. The latest report is from Dow Jones. At the end of the day, that shouldn't be a problem for people in crypto who aren't using them to launder money.
Bitcoin powers higher on the day, gains by nearly 10% (01-Oct-2021 at 03:49:51 pm)
A quick pump in cryptos sees Bitcoin rise by nearly 10% to $47,770 After calmer tones earlier in the day, Bitcoin has shot up from just under $45,000 to a high of $47,770 and is holding that push in the past half-hour.
SEC Chairman Gary Gensler reiterates his support for a bitcoin futures ETF (30-Sep-2021 at 07:45:47 am)
Gary Gensler is the head of the US Securities and Exchange Commission. es his renewed support for bitcoin futures Wednesday US time. This piece (link) cit
Bitcoin jumps over US$43K (30-Sep-2021 at 06:22:01 am)
Sharp move higher for the leading crypto. Just noting this: The HODLers will be happy!
Bitcoin straddling US$41K (29-Sep-2021 at 04:54:09 am)
The leading crypto losing just a little more ground No specific catalyst I can ascertain. For the poopy-pants, cut and paste this into the comments if you like "Yeah but its up over a 10 year span!" .... Or whatever.
U.S. SEC's Gensler weighs in again on crypto regulation (28-Sep-2021 at 05:54:41 am)
U.S. Securities and Exchange Commission Chair Gary Gensler says crypto markets will not end well without regulation. I think he is on the wrong track here. Why will they end?
Bitcoin trading lower, sharp drop (28-Sep-2021 at 04:41:47 am)
BTC/USD has lost around $1000 in the past half hour or so. Its back under $43,300 but still well above the lows it hit late last week on the China crypto news: