Meta will better reflect the companies brand
Facebook will change its corporate name to Meta.
The name change will better reflect the company's brand according to Mark Zuckerberg. The main social media and network will keep the Facebook name.
Forexlive Latest News
Thu 28 Oct 2021 18:18:11 GMT
USDCAD moving back below the 100/200 hour MAs keeps the sellers happy
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The sharp fall after the BOC yesterday saw the corrective rally extend above the 100/200 hour MAs earlier today
The Bank of Canada surprise market yesterday by announcing they would stop there bond buying and will look to raise rates in the middle quarters of next year.
Thu 28 Oct 2021 17:44:24 GMT
The bond market is signaling a policy error. But which one?
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What's the bond market saying
The story this week is bonds. We've seen some of the wildest moves since the pandemic and what makes them so tricky is that they've come out of the blue to some extent, with no real trigger setting off most of them. And the ones with triggers have been shockingly large.
Thu 28 Oct 2021 17:02:01 GMT
U.S. Treasury auctions off $62 billion of the 7 year notes at a high yield of 1.461%
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WI level at the time of auction 1.450%
- High yield 1.461%.
- WI level at the time of the auction 1.450%
- Tail 1.1 basis points
- Bid to cover 2.25X vs six month average of 2.31X
Auction Grade: D+
Thu 28 Oct 2021 16:59:02 GMT
Thu 28 Oct 2021 16:56:02 GMT
U.S. Treasury to auction off $62 billion a 7 year notes at the top of the hour
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The five year issues found strong demand yesterday
The major component six month averages for the seven year show:
The last seven year auction came in at 3.32% with a tail of +0.6 basis points.
Thu 28 Oct 2021 16:40:58 GMT
GBPUSD rises to swing level that sits below the recent price highs.
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GBPUSD reaches a target area
The GBPUSD reached a swing area that sits below the recent price highs at 1.3812 to 1.38149 (see red numbered circles.
Thu 28 Oct 2021 15:47:53 GMT
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Pres. Biden: We have reached a historic economic framework
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Pres. Biden speaking at the White House.
Thu 28 Oct 2021 15:39:08 GMT
Thu 28 Oct 2021 15:24:22 GMT
USDCHF falls below the 200 day MA for the first time since August
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USDCHF is running away from its 100 day moving average as well
The USDCHF as broken below its 200 day moving average (green line in the daily chart below). The pair is trading below that level for the first time since August 7. The moving average currently comes in at 0.91457.
Thu 28 Oct 2021 15:16:33 GMT
ECB sources: Inflation will stay above 2% throughout the year
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The ECB sources headlines around post ECB rate decision
Thu 28 Oct 2021 15:05:23 GMT
A look at what's in the Build Back Better reconciliation package
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Top line is $1.75 trillion
The framework for a reconciliation deal has evidently been agreed to at the highest levels but I haven't heard anything yet from Manchin and Sinema so I'm not sure you can assume anything passes until the votes come in.
Thu 28 Oct 2021 15:02:47 GMT
The Kansas City manufacturing index for October 25 versus 22 estimate
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Kansas City manufacturing index for October 2021.
The Kansas City Fed manufacturing index for October came in at 25 versus 22 estimate. Last month the index was at 10.
Thu 28 Oct 2021 14:47:18 GMT
NASDAQ index trades to a new record high
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NASDAQ index trades to a new record high
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Surpasses the old high of 15403.44
The S&P index is up 37.32 point at 4588.99. It's high price reached 4592.60. That is still short of the high reached earlier this week at 4598.53.
Thu 28 Oct 2021 14:45:24 GMT
Video: A look at the euro, dollar, energy and gold
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Live with TradeGateHub
I caught up with Dale Pinkert at TradeGateHub earlier today and we talked about seasonal patterns for November along with what's happening the euro, dollar, energy and precious metals.
Thu 28 Oct 2021 14:27:45 GMT
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US dollar trading pushes to the downside
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US dollar trading pushes to the downside
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New lows for the greenback versus majors
EURUSD.
The EURUSD is trading at its highest level since September 29 and in the process has broken above the 38.2% retracement of the move down from the September high to the October low. That level comes in at 1.16712. The high price just reached 1.1682. The 1.1700 level is the next upside target followed by the 50% retracement of the same move lower at 1.17165.
Thu 28 Oct 2021 14:20:50 GMT
Pres. Biden: I think we are going to be in good shape on agenda
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The deal getting closer according to Washington lawmakers
- I think we are going to be in good shape on the agenda: Biden
- US House Mfume (D) adds that Biden as I was there on a deal with Manchin/Sinema
Thu 28 Oct 2021 14:00:13 GMT
US pending home sales for September -2.3% versus 0.0% estimate
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US pending home sales for September 2021
- rose 8.1%
- pending home sales felt -2.3% versus 0.0% estimate
- The index fell to 116.7 from 119.5 last month
- Each of the four major U.S. regions seeing contract activity decline month-over-month and year-over-year.
Pending home sales are on signed contracts for existing homes.
Thu 28 Oct 2021 13:55:30 GMT
EURUSD extends to a new session high
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EURUSD extends to a new session high
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Runs away from the moving averages
Earlier, the pair moved above both the 100 and 200 hour moving averages and have been able to stay above those levels. The current bar based against the 200 hour moving average and has sprinted to the upside.
Thu 28 Oct 2021 13:32:59 GMT
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US major indices open higher
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US major indices open higher
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NASDAQ index leading the way today
A snapshot of the market currently shows:
A snapshot of the other markets currently shows:
In the forex, the winners and losers have been shuffled around in early New York trading. The JPY is the strongest of the majors, while the CAD is the weakest. For a look at the winners and losers at the start of the NY session . The EUR has moved higher after Lagarde. The USD has moved more to the downside with only a small gain vs the CAD. Versus the rest of the major currencies, the greenback is lower.
Thu 28 Oct 2021 13:29:05 GMT
USDJPY lower and hangs below the 100 hour MA
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...but price is not going far
The USDJPY is lower on the day. The tilt lower started in the Asian session after the pair could not extend above its 100 hour moving average (blue line). Sellers leaned, and that tilted the bias to the downside.
Thu 28 Oct 2021 13:12:17 GMT
GBPUSD chops up and down with a modest upside bias
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The 100/200 hour MA (and 100 day MA) stalls the rallies
The GBPUSD continues the chop but with modest upside bias. Having said that, the pair has run into topside resistance defined by a cluster of moving averages including the:
Thu 28 Oct 2021 12:51:24 GMT
EURUSD extends range to the upside as Lagarde press conference continues
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Price breaking above 100 and 200 hour moving averages and extending the range
As ECBs Lagarde press conference continues and after better claims data, and lower US GDP, the EURUSD is breaking to the upside, and making new highs.
Thu 28 Oct 2021 12:49:29 GMT
Lagarde Q&A: Analysis does not support market based lift off expectations
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Lagarde pushes back on markets
The euro jumped but she's pushing back on market pricing for rate hikes, which show a 20 bps hike in Dec 2022.
"Our analysis certainty does not support that the conditions of our forward guidance are satisfied at the time of liftoff as expected by markets, nor any time soon thereafter."
That puts the ECB on the other side of some other central banks that are increasingly worried about inflation.
Thu 28 Oct 2021 12:35:43 GMT
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ECB's Lagarde opening statement: Momentum has moderated
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Comments from Lagarde in the opening statement
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ECB's Lagarde opening statement: Momentum has moderated
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