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FX News and Commentary

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Fri, May 10th, 2024
Dollar Sees Support from Hawkish Fed Comments

The dollar index (DXY00 ) Friday rose slightly by +0.07%. The dollar saw support from hawkish Fed comments and negative inflation news, which sparked a +4.9 bp rise in the 10-year T-note yield to 4.502%...

DXY00 : 105.301s (+0.07%)
^EURUSD : 1.07713 (-0.10%)
^USDJPY : 155.774 (+0.19%)
GCM24 : 2,375.0s (+1.48%)
SIN24 : 28.506s (+0.50%)
EURUSD Elliott Wave: Forecasting the Rally from Equal Legs Area

Greetings fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of (EURUSD) , published in members area of the website. As our members know, EURUSD has...

^EURUSD : 1.07713 (-0.10%)
Elliott Wave Expects $AUDUSD to Break Higher

Short Term Elliott Wave in (AUDUSD) suggests the pullback to 0.636 ended wave (2). The pair has turned higher in wave (3) with internal subdivision in 5 waves in lesser degree. Up from wave (2), wave...

^AUDUSD : 0.66029 (-0.26%)
Dollar Sees Support from Hawkish Fed Comments

The dollar index (DXY00 ) today is up +0.11%. The dollar is seeing support from a +4.3 bp rise in the 10-year T-note yield to 4.496%. The dollar is also seeing support from hawkish comments today by...

DXY00 : 105.301s (+0.07%)
^EURUSD : 1.07713 (-0.10%)
^USDJPY : 155.774 (+0.19%)
GCM24 : 2,375.0s (+1.48%)
SIN24 : 28.506s (+0.50%)
Dollar Softens and Gold Rallies as US Jobless Claims Climb

The dollar index (DXY00 ) on Thursday fell by -0.30%. The dollar gave up an early advance Thursday and fell moderately after US weekly jobless claims rose more than expected to an 8-1/2 month high, a...

DXY00 : 105.301s (+0.07%)
^GBPUSD : 1.25251 (+0.01%)
^EURUSD : 1.07713 (-0.10%)
^USDJPY : 155.774 (+0.19%)
GCM24 : 2,375.0s (+1.48%)
SIN24 : 28.506s (+0.50%)
Elliott Wave Analysis on USDJPY Recovery Post BOJ Intervention

(USDJPY) has been in a roller coaster in the last few weeks due to the Bank of Japan (BOJ) Intervention. In this article, we will look at the short term Elliott Wave path for the currency post the intervention....

^USDJPY : 155.774 (+0.19%)
Stocks Rise on Fed Rate Cut Hopes

The S&P 500 Index ($SPX ) (SPY ) this morning is up +0.32%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.48%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.13%. US stock indexes this morning...

$SPX : 5,222.68 (+0.16%)
SPY : 520.84 (+0.13%)
$DOWI : 39,512.84 (+0.32%)
DIA : 395.18 (+0.30%)
$IUXX : 18,161.18 (+0.26%)
QQQ : 442.06 (+0.24%)
ZNM24 : 108-225s (-0.36%)
EQIX : 757.68 (-1.91%)
STE : 231.33 (+2.36%)
TTD : 87.26 (-1.59%)
APP : 86.43 (+2.05%)
CAKE : 37.65 (+4.41%)
Dollar Falls on Dovish Jump in US Jobless Claims

The dollar index (DXY00 ) this morning is down by -0.18%. The dollar gave up an early advance today and turned lower after US weekly jobless claims rose more than expected to an 8-1/2 month high, a dovish...

DXY00 : 105.301s (+0.07%)
^GBPUSD : 1.25251 (+0.01%)
^EURUSD : 1.07713 (-0.10%)
^USDJPY : 155.774 (+0.19%)
GCM24 : 2,375.0s (+1.48%)
SIN24 : 28.506s (+0.50%)
Our currency playbooks for the day session

We present our forex and currency futures playbooks

Stock Furtures Trade Higher While Traders Are Concnered About The BOE's Next Policy Move. Gold and Oil Prices Struggle For Direction

European markets and US futures are trading higher while investors wait for the two most important events to unfold, and one of them will very much shape trading activity for the rest of the month.

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Consumer Sentiment falls to lowest level since November 📉 https://t.co/4zGU4JDHTb
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BREAKING 🚨: CBOE Volatility Index $VIX has now traded red or unchanged over the last 8 trading days, the longest such streak since 2015 https://t.co/oTPlzDNWCO https://t.co/5CnRWInMWG
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Potential Inverse Head & Shoulders pattern developing in Paypal $PYPL? 🤔 https://t.co/KWs63Qc9H7
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Stock Market says goodbye to Fear! 🫡🥳 Congrats everyone, we escaped!! https://t.co/kR2TNNSqP2
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BIG NEWS 🚨: McDonald's $MCD to offer a $5 Meal in attempt to win back customers who have been priced out https://t.co/e1EqCKYcMP https://t.co/Ze0BNlK5T7
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Correction: Gorman retired from his CEO position at the end of last year https://t.co/CEIJBfR9Dc
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Walt Disney Insider Trading Activity 🚨 Board of Directors member James Gorman purchased 20,000 $DIS shares for a total investment of $2.1 million. James Gorman also happens to be the CEO of Morgan Stanley Wealth Management. https://t.co/aKA5fTRGFT https://t.co/KuPPEIemzB
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Bitcoin $BTC falling to levels not seen since last week https://t.co/3lFmtKUbuY
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Today's 4 Stock Market Movers: $NVDA $LRCX $AMAT $MU https://t.co/zMYDpOvIjt

Chart of the Day

Dave Inc (DAVE)

The Chart of the Day belongs to fintech company Dave (DAVE) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to...
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