European indices close mostly higher Spain's Ibex lower The major European indices are closing mostly higher.. The exception is the Spain's Ibex which is trading down about -0.6%. The provisional closes are showing:
Bottlenecks are getting worse and it's going to skew everything The signal and the noise are going to be a mess for awhile One of the most-interesting numbers to watch this week will be US auto sales. The consensus is for a fall to 14.50m from 14.75m in July but there's good reason to believe it could be even lower.
Another poll puts German conservatives behind SPD leads It looks like conservatives will drop the torch that Merkel is passing. Conservatives are behind once again in a new poll from Insa, this time for Bild.
USDJPY higher on the day but price bias is neutral Below the 50% midpoint. Above 200 hour MA The USDJPY is the marginally higher on the day, but the technical bias is neutral. Looking at the hourly chart, the price has been able to extend back above its 200 hour moving average at 109.855 and its 100 hour moving average at 109.911, but it found sellers leaning against the
China Tightens Limits for Young Gamers and Bans School Night Play The restrictions reflect the government’s intensifying push for companies to jettison what it says are unhealthy cultural influences.Chinese children and teenagers can play online games for one hour a day on weekend and holiday evenings, banning gaming on school days.
German inflation surges to 13-year high of 3.4% Economic rebound, higher energy prices and supply chain disruption drive up prices
Dallas Fed August manufacturing index 9.0 vs 27.3 prior Dallas-area manufacturing survey for August 2021 This is a lower-tier manufacturing index but there are some concerning trends here, particularly in new orders.
USDCHF ups and downs continue After test of the 12 day low, the USDCHF squeezes back higher The USDCHF open the day near the close from Friday after the sharp decline. The pair move down to test the August 17 low near 0.9099.
AstraZeneca Requires Its U.S. Employees to Be Vaccinated All workers based in the United States who are returning to the office or visiting clients must be inoculated against the coronavirus, the pharmaceutical giant said.A nurse administering the AstraZeneca vaccine to a patient in Sydney, Australia.
AstraZeneca requires its U.S. employees to be vaccinated. All workers based in the United States who are returning to the office or visiting clients must be inoculated against the coronavirus, the pharmaceutical giant said.A nurse administering the AstraZeneca vaccine to a patient in Sydney, Australia.
US July pending home sales -1.8% m/m vs +0.4% expected US July pending home sales Sales in the West rose but they fell elsewhere, particularly in the northeast.
AUD/USD Threatens Descending Channel Ahead of Australia GDP Report The update to Australia’s GDP report may push AUD/USD out of a descending channel as the economy is expected to grow at a record pace.
Global Weather Disruptions, Food Commodity Prices, and Economic Activity: A Global Warning For Advanced Countries Examines the macroeconomic effects of global food commodity price increases that are caused by global harvest and weather disruptions, and finds that the decline in economic activity is substantial and greater in advanced than in low-income countries.
Trudeau crashes in pre-election polls. New government increasingly likely Trudeau's decision to call an election looks like a disaster Canadian Prime Minister Justin Trudeau called an election two-years early hoping to ride Canada's early vaccination success along with a solid overall handing of the pandemic and NAFTA to a majority government.
Major US indices open higher. S＆P and NASDAQ at new records S&P and NASDAQ up six the last seven trading days The S&P closed at a record level for the 52nd time in 2021 on Friday. The NASDAQ index closed at a record high level for the 31st time on Friday.
USDCAD was back into lower key swing area. Can sellers push the price through the support. Swing area between 1.25778 and 1.25962. That area comes in between 1.25778 and 1.25962 (see red numbered circles and yellow area in the chart above). Recall from last week, the price moved into that area, but found support buyers.
S＆P 500 set to hit another record at the open That will be the 53rd day hitting a record this year S&P 500 futures are up 6 points in the pre-market after closing at a record 4509 on Friday. Bespoke was passing around this chart today, showing the incredible outperformance of the S&P 500 on low-volume days, something we're likely to get today.
US pending home sales highlight a quiet US economic calendar Not much scheduled news coming The July US pending home sales isn't going to be a market move but it's the highlight of a light calendar to start a busy US trading week.
GBPUSD breaks back below the 38.2% retracement on the hourly chart. Extends the narrow trading range Back down testing its 100 hour moving average The GBPUSD just extended the trading range for the day and in the process moved back below its 38.2% retracement of the move down from the July 30 high.
EURUSD stays above 50% midpoint of recent trading range The EURUSD corrected higher last week The EURUSD corrected higher last week reversing more than half of the most recent move to the downside from the July 30 high. The moved to the low on August 20 took the price of the pair to a new 2021 low (see daily chart below) taking out the low from the end of