Highlights of the Bank of Canada decision on September 5, 2018: Statement: Note: There is no press conference after this decision but Wilkins is delivering a speech tomorrow.
Goldman Sachs sees 3% Barclays has widened their Q3 GDP tracker to 2.9% from 2.8%. Meanwhile Goldman Sachs held their estimate for Q3 growth at 3.0%. The Atlanta Fed is an outlier at 4.7% (released yesterday). They are expected to revise their estimate today.
Looks toward 50% retracement The EURUSD has traded lower in trading today (and from the start as well). The price stayed below the broken trend line (see green circles) and moved below the lows from Friday and Monday. That opened the door for even more bearish selling.
Strong auto sales from Ford Monthly auto sales numbers are trickling out. This one is a great sign for consumers and the industry. The sales for F-Series trucks were the best since 2005. Part of that was because of poor sales in July due in part because of a fire at a supplier that hurt…
More numbers coming up Heads up for a few data releases to come. The action starts at the bottom of the hour (1330 GMT) with the Canada manufacturing PMI from Markit. There’s no consensus but CAD is vulnerable at the moment.
Price action using MA as risk defining level The USDJPY has been using the 100 hour MA (blue line) as a barometer for bullish/bearish (blue line in the chart below).
Watching 1.28519 The GBPUSD gapped lower on Monday on Brexit concerns and the high on Monday stalled at an old ceiling area in the 1.2931-356 area (see higher yellow area). Bearish.
What does it take to be a trader If you are a successful part time trader eventually you will ask yourself the question – “Could I do this professionally?”. If you have a proven track record with a solid strategy and a viable risk/reward ratio in place – theoretically you should be able to “go…
Ford sales strong, everyone else soft The early numbers from Ford suggested a great month for consumers but the numbers elsewhere have been a tad softer than expected.
Florence becomes third hurricane of the Atlantic season The NHC announced that Florence has reached hurricane strength in the mid-Atlantic. Today, tropical storm Gordon is helping to push oil prices higher because of the shuttering of some offshore production.