Closing changes:

• S&P 500 +0.6%
• DJIA +0.8%
• Nasdaq Comp +0.6%
• Russell 2000 +2.9%
• Toronto TSX Comp +1.0%

This is the fifth straight week of gains, sentiment is bubbly and Jim Cramer is bullish.

This article was written by Adam Button at www.forexlive.com.

It’s a buy-everything market today, with one big exception.

Oil fell sharply today in the past two hours. The catalyst: US oil drilling rigs rose by 5 in the latest Baker Hughes weekly count. OPEC+ now has around 5 million barrels per day of spare capacity and there’s no sign yet of US production growth falling (let alone declining). There had been hopes that demand growth next year would absorb OPEC spare capacity but even OPEC is only forecasting 2.5 million barrels per day in demand growth; so it would take another year like that to tighten the market.

In the meantime though, US production continues to expand, with some help from Canada, Guyana, Iran and Venezuela.

Worse is that this is very likely to be the limit of OPEC discipline. There won’t be another cut and there’s the very real possibility of a war for market share next year and a free-for-all, leading to oil in the $40s.

Now that would be great for the inflation picture but would put most private oil companies into a money-losing position. You would think that threat would discipline them, but here we are with rigs growing.

So the market is starting to price in a real mess in oil next year, or at least the risk of that.

This article was written by Adam Button at www.forexlive.com.

This has gotten out of hand — The rate cut pricing just won’t stop.

US 2s are down 15.6 bps to 4.55% and Fed funds futures are pricing in 132 bps of cuts next year. Pricing for the first cut on March 20 is now at 73%.

It’s tough to square this with a series of Fed officials saying they’re still more likely to hike rates and that it’s too early to abandon the hawkish bias. If you are to take them at their word, we shouldn’t even be talking about cuts until H2.

And that’s how markets used to work but it’s changed. Ten or 15 years ago, the market parsed Fed comments and then leaned one way or another.

Today, markets expect Fed officials to know exactly what’s priced in via the Fed funds futures market. Instead of watching what Fed officials say, it’s all about what they don’t say. The market has been pricing in cuts and waiting for the Fed to pushback, instead, it was Waller this week (a hawk) came out and said there are good arguments that if inflation continues falling for several more months that you could lower the policy rate.

That led to the market pricing in even more easing and still, no Fed official offered a hard pushback and Barkin address markets directly saying:

„Market bets on 4 rate cuts next year might be based on expectations for soft landing. I hope they are right“

The market is running with that now the Fed is headed into a blackout until December 13.

This article was written by Adam Button at www.forexlive.com.

It’s a rare occasion that we get to see the Fed chair be the one to be last on the agenda before the blackout period goes into effect. But ahead of this month’s FOMC meeting, this will be one of those times. As such, Powell will have the chance to set to record straight on whether he agrees or disagrees with what has been priced in about the Fed outlook. It is definitely going to be an interesting one and we could see some late market moves today all before the weekend: What to know ahead of Fed chair Powell’s appearance later in the day?

This article was written by Justin Low at www.forexlive.com.

USD

• The Fed left interest rates unchanged as expected
  at the last meeting with basically no change to the statement.
• Fed Chair Powell stressed once again that they are
  proceeding carefully as the full effects of policy tightening have yet to be
  felt.
• The US Core PCE yesterday came in line
  with forecasts with the disinflationary progress continuing steady.
• The labour market is starting to show weakness as Continuing
  Claims are now rising at a fast pace and the recent NFP report missed across
  the board.
• The latest US PMIs came basically in line
  with expectations with a miss in the Manufacturing index and a beat in the
  Services measure.
• The US Consumer Confidence this week beat
  expectations although the details about the labour market continued to weaken.
• The hawkish Fed members recently shifted
  their stance to a more neutral position.
• The market doesn’t expect the Fed to hike anymore.

JPY

• The BoJ kept its monetary policy basically
  unchanged at the last meeting but formally widened the YCC to 1% on the 10-year
  JGBs stating that it will be a reference cap.
• Governor Ueda repeated once again
  that they won’t hesitate to take easing measures if needed and that they are
  not foreseeing sustainable price increases.
• The Japanese CPIlast week showed that inflation pressures are easing
  although they remain well above the BoJ’s 2% target.
• The latest Unemployment Rate ticked
  lower with the labour market remaining strong.
• The recent Japanese Manufacturing
  PMI fell further into contraction, but the Services PMI ticked higher remaining
  in expansion.
• The latest Japanese wage data beat
  expectations. As a reminder the BoJ is focusing on wage growth to decide
  whether to tweak its monetary policy.
• The market expects the BoJ to keep
  interest rates unchanged at the next meeting as well.

USDJPY Technical Analysis –
Daily Timeframe

On the daily chart, we can see
that USDJPY managed to fall into the key
trendline around the 146.50 level where it bounced as the sellers might want to
wait for a stronger catalyst before going for the breakout. A break below the
trendline, and especially below the 145.00 handle, will be strong bearish
signals and will likely confirm the top in the pair with the cycle lows being
targeted next.

USDJPY
Technical Analysis – 4 hour Timeframe

On the 4 hour chart, we can see that the latest leg
lower into the key upward trendline diverged with the MACD. This is generally a
sign of weakening momentum often followed by pullbacks or reversals. The
sellers should step in around the downward trendline with a defined risk above
it to position for a drop back into the major trendline and target a breakout.
The buyers, on the other hand, will want to see the price breaking higher to
invalidate the bearish setup and position for a rally back into the 150.00
handle.

USDJPY Technical Analysis –
1 hour Timeframe

On the 1 hour chart, we can see more
closely the current price action around the trendline. What happens here will
likely decide where the pair goes next. A break to the upside should trigger a
rally into the 150.00 handle, while a rejection and a break below the 147.60
level will make things even more interesting as the sellers will target a breakout.

Upcoming Events

Today, the main event will
be the release of the US ISM Manufacturing PMI which missed expectations by a
big margin the last time. A strong report is likely to give another boost to
the US Dollar while weak figures could weigh on the greenback in the short term.

This article was written by FL Contributors at www.forexlive.com.

Powell will be making two appearances today but at a similar event at the Spelman College. They are late ones and even more so on a Friday, as he is slated to speak at 1600 GMT and then at 1900 GMT. Here’s the agenda:

The first chat will center around „the challenges of the post-Covid economy“ before the roundtable discussion kicks off later in the day.

Given the setting, it looks like there could be room for Powell to be questioned on the Fed outlook and the key thing to watch out for now will be his remarks on interest rates. And that will be even more crucial now especially after Fed governor Waller’s remarks earlier this week here.

Will Powell double down on that or will he push back against what Waller had mentioned when it comes to rate cuts and the timing of easing monetary policy? That is the main thing to keep an eye out for.

It is also important to get a sense of what markets have priced in going into Powell’s appearance later today. Right now, there is roughly 115 bps worth of rate cuts priced in for the Fed for next year alone. The first rate cut is priced in for May right now and personally, I think we’re at the limit already in terms of pricing in added dovishness for the Fed.

The current pricing suggests that we are going to see rate cuts come within six months and that is nowhere near what the Fed had suggested with their earlier talk of higher rates for longer. So, are traders getting it wrong or is the Fed eventually going to cave in? I guess we’ll see.

This article was written by Justin Low at www.forexlive.com.

Tesla Inc. (TSLA) remains a highly watched stock in the market, with its daily price movements offering significant insights for investors. Equipped with an updated chart featuring detailed price labels, this analysis will integrate these specific price points to offer a refined perspective for both swing traders and long-term holders considering their positions in TSLA. For those interested in other stocks hub page, check out our ddaily updates stocks page and choose a stock symbol that may interest you,

Swing Trader Analysis for TSLA STOCK: KEY PRICE LEVELS

• Resistance Retreat: TSLA’s price pulling back from the 1st upper VWAP line at $240.88, after a bearish candle, indicates a short-term resistance area.
• Downward Journey: The price decrease from the VAH line at $252.75 suggests a potential trajectory towards the POC line at $235.59.
• Support Levels: Should the downtrend persist, the next support is at the VWAP line at $228.6, followed by the VAL line at $220.73.

Price Forecast for Tesla Swing Traders: Key Support and Resistance to Monitor

• Immediate Resistance for TSLA stock: The 2nd and 3rd upper VWAP lines at $252.80 and $264.73, respectively, serve as crucial short-term ceilings.
• Potential Support Reversal for TSLA stock: The POC at $235.59 may provide a rebound point, while the lower VWAP lines at $217.04 and $205.11 offer subsequent support levels.

Long-Term Investor Insights: Strategic Price Points for Tesla stock

• Evaluating Entry and Exit: The current pullback near the upper VWAP lines suggests a re-evaluation of entry points, with the POC at $235.59 acting as a potential accumulation zone.
• Monitoring Lower Supports: The VAL at $220.73 and the lower VWAP bands ($217.04, $205.11, and $193.19) are critical for determining long-term support strength.

Conclusion: Strategic Investment Decisions Ahead for TSLA Traders and Investors

The detailed daily chart of TSLA presents specific price levels that are instrumental for traders and investors. Swing traders can leverage the resistance and support labels to make precise moves, while long-term investors may find these levels helpful for assessing the stock’s value and making informed decisions. Understanding these price points, in conjunction with TSLA’s market activity, is vital for navigating investment strategies effectively.

This article was written by Itai Levitan at www.forexlive.com.

USD

• The Fed left interest rates unchanged as expected
  at the last meeting with basically no change to the statement.
• Fed Chair Powell stressed once again that they are
  proceeding carefully as the full effects of policy tightening have yet to be
  felt.
• The US Core PCE yesterday came in line
  with forecasts with the disinflationary progress continuing steady.
• The labour market is starting to show weakness as Continuing
  Claims are now rising at a fast pace and the recent NFP report missed across
  the board.
• The latest US PMIs came basically in line
  with expectations with a miss in the Manufacturing index and a beat in the
  Services measure.
• The US Consumer Confidence this week beat
  expectations although the details about the labour market continued to weaken.
• The hawkish Fed members recently shifted
  their stance to a more neutral position.
• The market doesn’t expect the Fed to hike anymore.

GBP

• The BoE kept interest rates
  unchanged as expected at the last meeting.
• The central bank is leaning towards
  keeping interest rates “higher for longer”, although it keeps a door open for
  further tightening if inflationary pressures were to be more persistent.
• The BoE members continue to repeat
  that they will keep rates high for long enough to get inflation back to target.
• The latest employment report beat
  expectations with wage growth remaining at elevated levels.
• The UK CPI missed expectations
  across the board, which was a welcome development for the BoE.
• The UK PMIs last week beat
  expectations on both the Manufacturing and Services measures, with the Services
  sector crawling back in expansion.
• The latest UK Retail Sales missed
  expectations across the board by a big margin as consumer spending remains
  weak.
• The market doesn’t expect the BoE to
  hike anymore.

GBPUSD Technical Analysis –
Daily Timeframe

On the daily chart, we can see that GBPUSD recently
broke through the key resistance around the 1.26 handle where we had also the
50% Fibonacci retracement level for confluence. The pair managed to extend the
rally to the 1.12750 level where it got rejected from the 61.8% Fibonacci
retracement level of the entire fall from the cycle high. The sellers will now
want to see the price falling back below the 1.26 handle to pile in and target
new lows.

GBPUSD Technical Analysis –
4 hour Timeframe

On the 4 hour chart, we can see that the pair has
been diverging with the MACD for quite some time as it approached the key
resistance level. This is generally a sign of weakening momentum often followed
by pullbacks or reversals. In this case, the buyers are likely to lean on the
trendline and the previous resistance that now might act as support. The
sellers, on the other hand, will want to see the price breaking lower to
position for a drop into new lows.

GBPUSD Technical Analysis –
1 hour Timeframe

On the 1 hour chart, we can see more
closely the bullish setup around the trendline and the support level. What
happens here will likely decide where the pair will go in the next few weeks. A
bounce and a break above the 1.2670 level should confirm another rally, while a
break below the trendline and the support is likely to trigger a selloff into
the 1.24 handle.

Upcoming Events

Today, the main event will
be the release of the US ISM Manufacturing PMI which missed expectations by a
big margin the last time. A strong report is likely to give another boost to
the US Dollar while weak figures could weigh on the greenback in the short term.

This article was written by FL Contributors at www.forexlive.com.

Muto says that as things stand, there is a high chance for yield curve control (YCC) and negative rates to be scrapped – possibly as early as April next year. The key thing that such a development hinges on will be the outcome of the spring wage negotiations. Meanwhile, he also says that the BOJ has no choice but to hold on to ETFs for now as any unwinding in their holdings could trigger a market selloff.

He’s just reaffirming the market landscape and outlook at the moment. As mentioned many times already, the BOJ has kicked the can down the road to next March and April as they hope to make a change after the spring wage negotiations then. The question in the next few months will be whether the inflation outlook will have materially changed by then to justify such a move.

This article was written by Justin Low at www.forexlive.com.

Technological
advancements are propelling a remarkable transformation in the Forex market, a
dynamic arena where fortunes are made and lost. Whether it is traditional
trading methods or sophisticated strategies, technology has catapulted the
Forex market into a new era. This surge in technological innovation is not
merely a trend but a revolution and traders are embracing this paradigm shift
for the optimal trading experience.

This digital transformation has opened up new
opportunities for traders of all levels, providing them with tools and insights
that were previously unavailable. As one of the leading Forex brokers,
YaMarkets empowers its clients to navigate the complex world of Forex trading
with confidence.

Here are some of the trends and developments
of Forex trading which is being used by YaMarkets to pass the optimal benefits
of trading to the traders

1. AI-Powered
Trading Algorithms

AI is playing a pivotal role in developing sophisticated trading
algorithms that can analyse vast amounts of market data, identify patterns, and
make trading decisions based on these insights. These algorithms, capable of
processing complex information at lightning speed, offer traders a powerful
tool for navigating the dynamic forex markets for optimal Trading.

Yamarkets plays a crucial role in
facilitating AI-powered trading algorithms by providing a robust and
technologically advanced trading platform.

The platform offers a range of features and
tools that empower traders and developers to implement sophisticated algorithms
for efficient and data-driven trading strategies such as:

Key features of YaMarkets AI-powered trading
algorithm

· Data
Integration: Yamarkets enables seamless integration of diverse data sources,
including market feeds, economic indicators, and social media sentiment
analysis. This rich data environment serves as the foundation for AI algorithms
to make informed trading decisions

· Advanced
Analytics: Yamarkets’ trading platform offers comprehensive analytics tools
that assist in the evaluation of historical market data and the identification
of patterns. AI algorithms leverage these analytical capabilities to recognize
trends, correlations, and anomalies, aiding in the development of predictive
models.

· Machine
Learning Support: YaMarkets supports machine learning models, allowing traders to
implement algorithms that can adapt and improve over time. This capability is
instrumental in creating dynamic strategies that can adjust to changing market
conditions.

· Risk Management
Tools: Yamarkets offers advanced risk management tools to monitor and
control trading activities. AI algorithms can leverage these tools to implement
risk mitigation strategies, such as stop-loss orders and portfolio
diversification, enhancing overall trading stability.

· Execution
Speed: Yamarkets prioritizes low-latency execution, a critical factor
in high-frequency trading. This feature ensures that AI-powered algorithms can
react swiftly to market changes, optimizing trade execution and minimizing
slippage.

· Scalability: Yamarkets
provides a scalable infrastructure that accommodates the computational demands
of AI algorithms. This scalability is essential for handling large datasets and
complex computations required by advanced trading strategies.

2. Democratisation of Forex Trading

In the past, Forex trading was largely the
domain of institutional investors and professional traders. However, the advent
of online trading platforms and mobile applications has democratized access to
the market, allowing individuals with an internet connection to participate.
YaMarkets played a significant role in this democratization, pioneering the use
of user-friendly trading platforms and providing accessible educational
resources to traders.

YaMarkets has spearheaded the democratisation
of Forex trading by introducing user-friendly trading platforms used by the
latest developments of Trading platforms such as MT4 and MT5. The user-friendly
interfaces and accessible tools offered by YaMarkets empower individuals,
irrespective of their background or experience, to navigate the complexities of
Forex trading with confidence using the internet.

The key factors contributing to the democratisation
of Forex trading in YaMarkets include:

· Online Trading Platforms: The advent of user-friendly and accessible online
trading platforms of YaMarkets has empowered individual traders to participate
in the Forex market. As a Technology
YaMarkets educates traders by continuously providing updated educational resources,
real-time market data, and various tools to assist traders in making informed
decisions

· Leverage and Margin Trading: YaMarkets offer leverage, allowing traders to
control larger positions with a relatively smaller amount of capital. While this
can enhance potential profits, it also involves higher risk. Nevertheless, it
enables traders with limited funds to participate in the Forex market.

·
Reduced Costs: Using the Latest technology, YaMarkets provides clear statistics that
allow traders to Lower transaction costs, tighter spreads, and competitive
pricing e making Forex trading more cost-effective and accessible for retail
traders.

· Regulatory Changes: YaMarkets‘ regulatory prudence is aimed at
creating a more transparent and secure environment for retail Forex trading.
These changes are designed to protect traders and ensure fair practices within
the industry.

3.
Cloud-Based Technology

One of the latest developments in Forex
trading is using cloud-based Technology. YaMarkets’ Cloud-based trading
platform has emerged as a significant advancement in the financial industry,
revolutionizing the way traders interact with the markets. This cloud computing
technology provides traders with a host of benefits, ranging from increased
accessibility and convenience to enhanced security and collaboration.

The cloud-based technology
of YaMarkets allows traders to connect from anywhere with an internet
connection. This flexibility is especially crucial in the fast-paced world of
financial markets, where timely decision-making is paramount. Traders can
access their accounts, execute trades, and monitor the market in real time,
whether they are at home, in the office, or on the go.

4. Mobile Trading Apps

The evolution of mobile trading apps stands as a pivotal trend and
development in the financial landscape, fundamentally transforming the way
traders engage with the markets. The convenience offered by these apps has led
to their widespread adoption, enabling traders to seamlessly monitor market
movements, manage accounts, and execute trades directly from their smartphones
or tablets. Among the trailblazers in this domain, the YaMarkets Mobile trading
app has played a significant role in revolutionizing the trading experience,
offering a myriad of benefits to traders.

·
Real-time
Market Monitoring: The app
enables real-time monitoring of market movements, empowering traders with
up-to-the-minute information. This instantaneous access to market data allows
for swift decision-making, crucial in an environment where market conditions
can change rapidly. YaMarkets Mobile app ensures that traders stay
well-informed, enhancing their ability to seize opportunities and manage risks
effectively.

·
Trade
Execution at Your Fingertips: YaMarkets‘
mobile app facilitates seamless trade execution directly from the palm of the
trader’s hand. Whether it’s initiating new trades, modifying existing
positions, or closing positions, the app streamlines these processes,
eliminating the need for a desktop setup. This feature not only enhances
convenience but also ensures that traders can act promptly on their trading
strategies.

·
User-friendly
Interface: The mobile app is designed
with a user-friendly interface, making it accessible to traders of all levels
of experience. Intuitive navigation and a well-designed layout contribute to a
positive user experience, reducing the learning curve for those new to mobile
trading. This emphasis on usability aligns with YaMarkets‘ commitment to
empowering traders through accessible technology.

·
Enhanced
Portfolio Management: YaMarkets
Mobile trading app facilitates comprehensive portfolio management, allowing
traders to monitor their investments, track performance, and make informed
decisions about portfolio adjustments. The app provides a holistic view of the
trader’s financial landscape, enhancing strategic planning and risk management.

·
Security
Measures: Recognizing the importance of security in the
financial realm, YaMarkets has implemented robust security measures within its
mobile app. Encryption, secure login protocols, and other protective features
ensure that traders can engage in mobile trading with confidence, knowing that
their sensitive information is safeguarded.

Summary

In conclusion, the Forex
market is in the midst of a transformative revolution driven by technological
advancements. YaMarkets, a leading Forex broker, has been at the forefront of
this evolution, playing a crucial role in empowering traders with cutting-edge
tools and platforms. Here are some specific examples of how YaMarkets is using
the latest trends and developments in forex trading technology to benefit its
traders:

• Artificial intelligence
  (AI) and machine learning (ML) are being to develop automated trading
  systems that can make decisions based on real-time market data. This
  can help traders to take advantage of opportunities and avoid risks that
  they might not otherwise be aware of.
• Big data
  analytics is being used to identify patterns and trends in the market
  that can be used to develop profitable trading strategies. This can
  give traders a significant edge over the competition.
• Cloud-based trading
  platforms are providing traders with access to the latest trading
  tools and technology from anywhere in the world. This can make it
  easier for traders to stay on top of the market and make informed trading
  decisions.

This article was written by FL Contributors at www.forexlive.com.