345 days ago
US stocks gain amid debt-ceiling deal.
US stocks continued to advance amid debt-ceiling resolution and AI enthusiasm.
346 days ago
WTI Crude oil starts month on strong note $USO $XLE #oil #trading
Oil has started the month of June on a strong note. It could well rebound in the summer months as demand picks up. Recent price action has been led by piling up stockpiles and a divide within OPEC members, but traders may want to show patience and not give up on upside potential just yet.
347 days ago
#Swiss #franc launches strong rebound vs #dollar. $DXY $SPY #fx #trading
Swiss retail sales in May disappointed strongly coming in at -3.7% versus expectations of -1.4%, suggesting Swiss consumption is much softer than previously thought. This is the weakest number since a year ago when retail sales also fell before rebounding in the summer month. Today's data gave a reason for traders to ditch the Swiss franc, which continued to weaken against the dollar. The next leg higher could take the USD/CHF to around 0.94. This is consistent with our trade idea, in which we wrote about in yesterday's weekly forex ideas.
348 days ago
S&P 500 could be on the merge of a breakout. $SPY $QQQ #trading #fx
S&P 500 futures have just slipped above the area of technical resistance. A few names continue to be the main drivers including Tesla and Nvidia. As we approach the summer month, a clearer technical breakout could form, with the possibility of lagging sectors such as financials and energy rebounding.
352 days ago
#debtceiling nearing deal $SPY $QQQ #trading #trending
US lawmakers are moving closer to a deal that would raise the debt limit for two years. While the deal is not quite closed yet, it appears that it's imminent within a few days. Markets may however somewhat sell off on the news of the deal, as these events tend to be priced-in in advance and traders often exit the trader after positive news. Today should see lighter volumes as traders may exit positions ahead of the long weekend. Also interesting to note that markets are now pricing a 4.96% year-end Funds rate, which means there are essentially zero interest rate cuts priced in the second half of this year.
