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Weak US data increases recession risksEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 A series of US economic data have pointed to a slowing economy, including a 1.1% drop in retail sales and a 0.7% decrease in month-on-month industrial production. Investors then raised concerns about a recession, with the stock market dipping. The Dow plunged 613 points (-1.81%) to 33,296, the S&P 500 declined 62 points (-1.56%) to 3,928, and the Nasdaq dropped 146 points (-1.27%) to 11,410. Both the Eurozone and the UK had their year-on-year inflation readings meet Mitrade's estimates, at 9.2% and 10.5% respectively. EUR/USD added 4 pips to 1.0792, and GBP/USD climbed 58 pips to 1.2346. AUD/USD dropped 34 pips to 0.6941, as Australia recorded a 14,600 drop in employment. USD/CAD increased over 100 pips to 1.3491, and USD/JPY traded 75 pips higher to 128.88. WTI oil futures slipped below $80, closing at $79.8 a barrel. Spot gold lost over $4 to $1,904.37 an ounce. Bitcoin just declined to $20,698.0, and Ethereum is currently trading lower at $1,516.68.
by Mitrade_official
Correlation – Crude Oil & CPIStudies indicated Crude Oil is the best indicator to track the current inflation. It is also a leading indicator to inflation numbers? If that is true, we will have to track the crude oil prices very closely. Content: i. The most inline commodity with CPI ii. Can the Crude Oil track CPI? iii. Direction of Crude Oil Crude Oil Futures Minimum fluctuation 0.01 = $10 0.10 = $100 1.00 = $1,000 10.00 = $10,000 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NYMEX:CL1!Long
by konhow
7
Inflation slows down in Canada and GermanyEUR/USD 🔽 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔽 WTI 🔼 December’s readings for Canadian and German inflation have slowed, with Germany’s year-on-year inflation decreasing from 10.0% to 8.6%, and Canada’s month-on-month inflation turning negative from 0.1% to -0.3%. Later today, Mitrade expects the UK year-on-year inflation rate to come down from 10.7% to 10.5%. Slower inflation then makes it more likely for respective central banks to reduce their rate hikes. Meanwhile, EUR/USD closed lower at 1.0788, GBP/USD rose over 90 pips to 1.2288, and AUD/USD climbed more than 30 pips to 0.6987. USD/CAD decreased 19 pips to 1.3388, and USD/JPY dropped 41 pips to 128.13. WTI oil futures traded slightly higher to $80.45 a barrel, while spot gold retreated to $1,908.62 an ounce. Bitcoin surged past the $21,000 level, currently at $21,250.0. The Dow plunged 391 points (-1.14%) to 33,910, the S&P slid 8 points (-0.20%) to 3,990, and the Nasdaq added 15 points (+0.14%) to 11,557.
by Mitrade_official
THE BIG XAU SHORT! (part 2)Over last 2 weeks, the market has stopped responding to fundamentals which are showing a stronger labor market than the Fed is willing to tolerate; should have pushed XAU lower. We're 2 weeks away from the next rate hike (February 1st) and we could see a correction in this time, especially if the market is expecting a less aggressive Fed. In that case, price will likely correct going into the hike and then explode higher on Feb 1-2. With DXY & Yields moving higher, we're likely going to get this retest of 1900. *NOTE: either the big short is in play right now or we will get a push higher towards 1960 before it occurs; one thing is for certain - price needs to correct going into Feb 1st rate hike
OANDA:XAUUSDLong
by XAUSpeculator
4
US dollar recovers against major currenciesEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 After several sluggish sessions, the US dollar recovered against other major currencies. USD/CAD closed 11 pips higher at 1.3407, and USD/JPY increased 66 pips to 128.54. Meanwhile, the US stock market was closed. EUR/USD and AUD/USD declined over 10 pips to close at 1.0816 and 0.6954 respectively, and GBP/USD lost more than 20 pips to 1.2191. Later today, Mitrade expects the German year-on-year inflation rate to remain at 8.6%. Spot gold prices retreated to $1,915.36 an ounce, and WTI oil futures traded lower to $78.81 a barrel. Bitcoin fell below the $21,000 level to $20,992.0.
by Mitrade_official
catching THE BIG GOLD SHORT!Over last 2 weeks, the market has stopped responding to fundamentals which are showing a stronger labor market than the Fed is willing to tolerate; should have pushed XAU lower. We're 2 weeks away from the next rate hike (February 1st) and we could see a correction in this time, especially if the market is expecting a less aggressive Fed. In that case, price will likely correct going into the hike and then explode higher on Feb 1-2. XAU is reaching a key monthly lvl by tomorrow (1937) - valid short. *NOTE: I'm looking to catch a large reversal and 1937 is 1 of 2 scenarios for this potential upcoming move (see chart for more details)
OANDA:XAUUSDShort
by XAUSpeculator
1
More tightening measures expected from JapanEUR/USD 🔽 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 As the Bank of Japan loosened bond yield control last year, Mitrade anticipated further tightening from the central bank, including a possible rate hike on Wednesday. Meanwhile, USD/JPY plunged over 140 pips to 127.88, and USD/CAD increased to 1.3396. EUR/USD rebounded from 1.0793 to close at 1.0828 with an 18-pip loss. GBP/USD added 26 pips to 1.2226, and AUD/USD traded slightly higher to 0.6976. Spot gold climbed above the $1,900 level to $1,920.13 an ounce. WTI oil futures rose past $80 to $80.11 a barrel, and Bitcoin continued to rise steadily, last traded at $21,159.0. Before reopening on Tuesday, the Nasdaq was up 81 points to 11,541. The S&P rose 15 points to 3,999, and the Dow rose 112 points to 34,302.
by Mitrade_official
Slowing US inflation cuts rate hike estimatesEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 The US month-on-month inflation rate turned negative at -0.1% in December, while the year-on-year reading remained at 6.5%. As a result, Mitrade now expects a 25 basis points Fed rate hike in February is more likely. Less tightening spells good news for the stock market. The Dow increased 216 points (+0.64%) to 34,189, the Nasdaq rose 57 points (+0.50%) to 11,459, while the S&P climbed 13 points (+0.34%) to 3,983. Major currencies then strengthened against the greenback. EUR/USD surged over 90 pips to 1.0846. GBP/USD and AUD/USD added more than 60 pips to 1.22 and 0.6972 respectively. USD/CAD dipped 62 pips to 1.3362, and USD/JPY lost over 300 pips to a seven-month low at 129.22. Spot gold climbed to $1,896.91 an ounce, and WTI oil futures advanced slightly to $78.39 a barrel. Bitcoin is currently trading higher at $18,786.0.
by Mitrade_official
Dollar stabilizes ahead of inflation dataEUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 Later tonight, Mitrade expects the US year-on-year inflation rate will decrease from 7.1% to 6.5%, giving more leeway for the Federal Reserve to use smaller rate hikes to combat inflation. Meanwhile, the greenback did not show any significant weakness, though EUR/USD steadily climbed to a seven-month high at 1.0755. GBP/USD had minor losses at 1.2142, and AUD/USD added over 10 pips to 0.6899. While USD/CAD closed slightly lower at 1.3424, USD/JPY rose to 132.47, adding 22 pips. Spot gold retreated from an eight-month high of $1,885.84 an ounce and closed at $1,875.58. Despite an 18.96 million barrel increase in the US Crude Oil Inventories, WTI oil futures still moved up to $77.41 a barrel. Bitcoin extended its strong run, currently at $18,181.0. The Nasdaq rose the most, adding 196 points (+1.76%) to 11,402. The S&P surged 50 points (+1.28%) to 3,969, and the Dow rose 268 points (+0.80%) to 33,973.
by Mitrade_official
1
Australian inflation rebounded in Q4EUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔼 WTI 🔼 The latest quarterly inflation reading in Australia shows a minor uptick at 7.3%, which Mitrade expects the Reserve Bank of Australia could increase rate hikes. On the other hand, Australian retail sales in November rose from 0.4% to 1.4%. AUD/USD was down over 20 pips to 0.6887. EUR/USD had minor gains at 1.0734, while GBP/USD declined to 1.2155. Both USD/CAD and USD/JPY increased more than 30 pips to 1.3423 and 132.25 respectively. WTI oil futures traded slightly higher at $75.12 a barrel. Spot gold climbed to $1,876.97 an ounce, and Bitcoin reached $17,461.0. The stock market enjoyed modest gains yesterday. The Nasdaq 100 rose 97 points (+0.88%) to 11,205. With the Dow Jones Industrial Average up 186 points (+0.56%) to 33,704, and the S&P 500 gaining 27 points (+0.70%).
by Mitrade_official
Oil sellers gearing up for a push lower? Are oil sellers gearing up for a push lower? Hi traders. Thanks for tuning in for today's update. After yesterday's fade, oil sellers remain in control today. Today's video looks at the last several day's price action with a focus on yesterday's and today's selling. Was yesterday's fade a warning that we could see a new test lower by sellers? The main trendline remains intact, and we have seen the fast-up trend broken and a new short-term downtrend start to form. Levels to watch: Resistance 74.90 Support 73.15 & 71.63 A close below 74.15 could set off a new push lower, but if we see a new higher close above resistance, this could be a warning that seller numbers are not that strong. Good trading, and happy Tuesday.
EIGHTCAP:USOUSDShort
by Eightcap
EUR/USD reached a 7-month highEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 Major currencies continued their rally against the US dollar. EUR/USD rose to a 7-month high of 1.0759, then closed at 1.0728. GBP/USD added over 80 pips to 1.2183, and AUD/USD has modest gains at 0.6911. Inflation in Tokyo climbed to 4% in December, the highest level in four decades. Meanwhile, USD/JPY decreased 20 pips to 131.88, and USD/CAD fell 55 pips to 1.3387. Spot gold gained $5 to $1,871.79 an ounce. WTI oil futures traded slightly higher at $74.63 a barrel. Bitcoin retreated from $17,400, currently at $17,212.0. Although the Nasdaq 100 climbed 68 points (+0.62%) to 11,108, the S&P 500 only lost 2 points (-0.08%) to 3,892, and the Dow plunged 112 points (-0.34%) to 33,517.
by Mitrade_official
Slowed Nonfarm Payrolls weakened the greenbackEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 After numerous rounds of voting, the US Congress finally elected a speaker. Meanwhile, the Nonfarm Payrolls reading for December was 223,000. The number was slightly higher than Mitrade's estimate of 220,000, but the steady decline in recent months is indicative of a slowed economy. Thus, investors anticipated that the Federal Reserve would carry out smaller rate hikes, and major currencies rallied against the US dollar. GBP/USD rose 190 pips to 1.2098, as the Euro and Aussie added over 120 pips against the greenback to 1.0644 and 0.6875 respectively. USD/CAD dipped more than 120 pips to 1.3442, and USD/JPY plunged 132 pips to 132.07. The Nasdaq 100 added 299 points to 11,040. The S&P climbed 86 points to 3,895, and the Dow increased 700 points to 33,630. Spot gold climbed to $1,865.97 an ounce. U.S. WTI oil futures traded slightly higher at $73.77 a barrel. Bitcoin just rose to $17,190.0.
by Mitrade_official
1
Ukraine dismisses Russian temporary ceasefire proposalEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔼 On Orthodox Christmas Day, Russia offered a 36-hour ceasefire with Ukraine. In response, Ukraine rejected the offer, claiming it only served Russia as breathing space and a propaganda tool. Meanwhile, western allies have agreed to provide military vehicles to Ukraine, boosting its offensive capabilities. The ongoing war strengthened the greenback, and GBP/USD fell below the 1.2000 level to 1.1906, losing more than 140 pips. The Euro and Aussie dropped over 80 pips against the US dollar to 1.052 and 0.6749 respectively. USD/CAD added 101 pips to 1.3569, and USD/JPY increased 74 pips to 133.4. Later tonight, Mitrade expects December's nonfarm payrolls will slow down to 220,000. Spot gold declined to $1,833.05 an ounce, and WTI oil futures traded slightly higher to $73.67 a barrel. Bitcoin remained steady at $16,843.0. The Dow slumped 339 points (-1.02%) to 32,930, the S&P slid 44 points (-1.17%) to 3,807, and the Nasdaq plunged 173 points (-1.59%) to 10,741.
by Mitrade_official
Today's forex news: China resumed Australian coal importsEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔼 WTI 🔽 After two years, the Chinese government has lifted its unofficial ban on Australian coal imports. While concerns about rising infection rates in China remain, an export boost allowed AUD/USD to jump over 100 pips to 0.6832. EUR/USD reached a closing price of 1.0599, now stabilized above the 1.0600 level. GBP/USD rebounded more than 80 pips to 1.2053. Although USD/CAD plunged a little below 200 pips to 1.3476, USD/JPY has added 160 pips to 132.62. Spot gold rose to a seven-month high of $1,863.88 an ounce, then retreated to $1,854.74. WTI oil futures dropped further to $72.84 a barrel, and Bitcoin is currently trading higher at 16,847.0. Among the major US indices, the S&P 500 enjoyed the highest gain, with a 28-point increase (+0.75%) to 3,852. The Dow Jones Industrial Average and the Nasdaq 100 closed higher at 33,269 and 10,914 respectively.
by Mitrade_official
Gold prices reached a six-month highEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔽 XAU 🔼 WTI 🔼 The US stock market remains closed for the holiday, and prospects for 2023 have improved since investors anticipated slower inflation and interest rate hikes from major central banks. Spot gold closed at $1,823.95 an ounce and then rose to a six-month high of $1,831.64. WTI oil futures climbed past $80 to $80.26 a barrel, while Bitcoin steadily increased to $16,695.0. The Euro and Pound declined over 30 pips against the US dollar, closing at 1.0662 and 1.2045 respectively. German Manufacturing PMI for December last year was at 47.1, lower than the market estimate of 47.3. Later tonight, Mitrade expects the German year-on-year inflation rate will drop to 9.1. AUD/USD traded slightly lower to 0.6802. USD/CAD gained 18 pips to 1.3572, but USD/JPY slid 40 pips to 130.73.
by Mitrade_official
European gas price return to pre-war levelsEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔽 With European countries imposing multiple economic sanctions on Russia, there were also efforts made to alleviate high energy prices due to supply shortages. As of 30 December, natural gas futures are trading at levels not seen after the Russian invasion of Ukraine, thanks to adequate supply and mild weather conditions. Even though Mitrade expected a drop of 1.52 million barrels, US crude inventories just increased by 718,000 barrels. WTI oil futures prices then fell to $78.4 per barrel. Spot gold added $10 to $1,814.95 an ounce, as Bitcoin traded higher at 16,626.0. Other major currencies have rallied against the greenback. EUR/USD surged more than 50 pips to 1.0661, and GBP/USD almost climbed 50 pips to 1.2052. AUD/USD rose to 0.6780. USD/CAD slid to 1.3546, and USD/JPY plunged over 140 pips to 133.01. The stock market also enjoyed a sharp rally. The Dow Jones Industrial Average reached 33,220 after adding 345 points, the S&P 500 reached 3,849 and the Nasdaq reached 10,951.
by Mitrade_official
US stocks fall as bond yields riseEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 Market sentiment remained subdued amidst high infection rates in China, as well as growing tensions between Serbia and Kosovo. The US 10-year Treasury bond yield then rose to a month-high of 3.885%, sending the stock market to close lower. All three major indices dropped yesterday. There was a 365-point drop in the Dow Jones Industrial Average to 32,875, a 46-point drop in the S&P 500 to 3,783, and a 143-point slide in the Nasdaq 100 to 10,679. Meanwhile, the greenback has strengthened against major currencies. USD/CAD added over 80 pips to 1.3608, and USD/JPY climbed to a week high of 134.49, before closing at 134.47. EUR/USD lost 30 pips to 1.0608, while GBP/USD and AUD/USD suffered minor losses at 1.2013 and 0.6736 respectively. As a retaliation, Russia plans to impose an oil ban on those who follow the G7 price cap. However, lower demand expectations saw WTI oil futures trading lower at $78.96 a barrel. Spot gold retreated to $1,804.35 an ounce, as Bitcoin declined from $16,754.0 to $16,568.0.
by Mitrade_official
US Stock markets closed lower after the holidayEUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔼 WTI 🔼 The holiday mood did not lift market sentiment. Extreme cold weather in the US has proved fatal in certain regions. Although the Dow Jones Industrial Average increased 37 points (+0.11%) to 33,241, the S&P 500 declined 15 points (-0.41%) to 3,829, and the Nasdaq 100 plunged 162 points (-1.48%) to 10,822. While increasing infection rates in China have slowed WTI oil futures to close with minimal gains at $79.53 a barrel. Spot gold rose to a six-month high of $1,829.66 an ounce, then traded at $1,813.65. Bitcoin recovered from 16,650 to 16,754.0. On the other hand, the greenback had varied performances against other major currencies. The Euro and AUD traded slightly higher towards the US dollar, closing at 1.0638 and 0.6729 respectively. Multiple strikes in the UK sent GBP/USD down over 30 pips to 1.2021. USD/CAD declined more than 60 pips to 1.3522, and USD/JPY climbed 63 pips to 133.48.
by Mitrade_official
XAUUSD - 240 MINS TIMEFRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
OANDA:XAUUSDShort
by Tradelikemee
The US displays resilient GDP readingsEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔽 XAU 🔽 WTI 🔽 The US has recorded the third consecutive positive GDP growth which exceeds Mitrade's estimates, with quarterly growth of 3.2%. As such, the greenback strengthened towards its peers, and EUR/USD dropped slightly to 1.0593, while AUD/USD decreased over 40 pips to 0.6666. The UK had a set of disappointing GDP data, including a -0.3% quarterly slowdown, leading GBP/USD to lose 40 pips to 1.2036. USD/CAD added more than 30 pips to 1.3646, and USD/JPY traded lower at 132.33. Spot gold lost support at the $1,800 level, closing at $1,792.56 an ounce. A high number of COVID cases in China has dimmed the outlook for global oil consumption. WTI oil futures then suffered minor losses at $77.49 a barrel. Bitcoin just recovered to 16,806.0. In the previous session, the Dow Jones Industrial Average lost 348 points (-1.05%) to 33,027, the S&P 500 lost 55 points (-1.44%) to 3,822, and the Nasdaq 100 fell 279 points (-2.49%) to 10,956.
by Mitrade_official