Forex news for December 18, 2014: December 2014 Philly Fed business index 24.5 vs 27.0 exp US initial jobless claims 289k vs 295k exp December 2014 US Markit services PMI flash 53.6 vs 56.9 exp US November leading index +0.6% … Continue reading
Gold last week found sellers against the 100 day moving average (blue line in the chart below), tops trend line resistance, and the 50% retracement of the move down from the July 2014 high. That level came in at … Continue reading
Oil failed to once and then twice to get above the 38.2% and then the 200 hour MA as well. The subsequent selling has taken the price back below the 100 hour MA and now the price is testing the … Continue reading
WTI crude is down $2 on the day to $54.55. Signs of life over the past two days have been squashed. I don’t ever think I’ve seen sentiment in a market in a major asset like oil get so ugly, … Continue reading
The SNB defends the CHF floor with an interest rate of now -0.25% and if needed, a further cut and interventions are possible, notes Nordea Markets. “The SNB’s aim is to defend the minimum exchange rate of EURCHF 1.20. An … Continue reading
What is a Federal Reserve hike? That’s a tough question to answer than it may seem. The Fed aims for a range on the Fed Funds from 0% to 0.25% rather than a specific target like it has had historically. … Continue reading
What looked like a positive move in oil today has turned negative. The failure of WTI to push through the $59 level has seen it reverse quickly. Intraday there are encouraging signs that a bottom is trying to be put … Continue reading
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