USDCAD is showing signs of a pullback on its 1-hour time frame, as the pair bounced off the 1.2200 major psychological support area. Price is now testing resistance at the 38.2% Fibonacci retracement level, which lines up with the short-term 100 SMA.
Welcome to today’s Morning Coffee Break – traders had a case of Deja vu yesterday as the U.S. markets traded similar to last week ahead of the European Central Bank (ECB) and U.S Federal Reserve meetings. U.S. futures are indicating a positive opening today with the Dow Jones fair value of 30.36, S&P 500 fair value of 2.33 and the NASDAQ’s fair value currently at 5.37.
Welcome to today’s Morning Coffee Break – U.S futures are indicating a lower open with fair value for the Dow Jones at -23.10, S&P 500 at -2.24 and the NASDAQ fair value at -5.84. Market participants will get to hear from two Federal Reserve officials throughout the day today.
Welcome to today’s Morning Coffee Break – On the first day of trading this week traders are waking up to lower futures in the U.S. stock indexes after last week’s rally sparked by the Federal Reserve’s aggressive new round of quantitative (QE3) easing last week Thursday.
Below are Monday’s trending equities ahead of the opening bell.
Gold price continued its climb higher for a second day after Federal Reserve announcement of third round of quantitative easing which weakens the U.S. dollar and in turn strengthen gold’s price as traders look for safety. The FMOC’s announcement of QE3 was more aggressive than most analysts were anticipating with a plan to purchase 40 billion USD in mortgage backed securities on a ongoing unlimited fashion until the U.S. economy
Welcome to today’s Morning Coffee Break – The Federal Reserve decisively stepped off the sidelines with a stronger than expected new round of unlimited quantitative easing (QE3) sending U.S. markets rallying. Market participants are clearly satisfied with the FMOC’s move as U.S. futures are indicating an extension of yesterday’s rally.
Below are Wednesday’s trending equities ahead of the opening bell.
Welcome to today’s Morning Coffee Break – This morning is the day market participants have been waiting for since Fed Chairman Ben Bernanke’s Jackson Hole speech a couple of weeks ago. U.S. Equity markets are likely to remain in a fairly tight range ahead of the Federal Reserve’s key interest rate decision and policy statement scheduled for today at 12:30 a.m. ET. Followed the all-important FMOC economic forecast which could reveal
The U.S. dollar continues to remain under pressure as the U.S. dollar index trades below the 80 level to 79.68 in anticipation of the Federal Reserve will begin its third round of monetary easing (QE3). Market participants are focusing on tomorrow’s statement from the FMOC scheduled for 12:30 a.m. ET.
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