Sellers are looking to break key support near the 0.6700 level, which helped to stem the initial decline back in December. The 38.2 retracement level @ 0.6702 adds to the support layer but both appear to be giving way now in a drop to 0.6690. Of course, the daily/weekly close is still one that will

Of note, AUD/USD is now down near 0.7% to 0.7135 as price closes in on the 7 January low of 0.7130. A push below that opens up the path towards some minor support at 0.7100 next before a potentially steeper drop towards 0.7000 again.

Elsewhere, USD/CAD is moving back up above 1.2600 as oil

S&P 500 futures -0.2%Nasdaq futures -0.3%Dow futures -0.1%That didn’t take long as the more risk averse mood from last week continues to play out. As mentioned earlier, the charts are looking awful for US equities at the moment and that in itself is a tough one to go against. The real fear now is th

There’s no respite for bitcoin today after it sank to the lowest levels since July a day ago.
It’s continued lower, falling $2091 to $34596, which is the lowest since July 26.
On Friday, El Salvador President Nayid Bukele tweeted that the country bought 410 bitcoin but that didn’t help. T

No one knows if Russia is going to invade Ukraine but there are plenty of reasons to worry.
Starting Monday, the US State Dept will start evacuating family members of embassy personnel in Ukraine, according to reports.
On the diplomatic side, the US said it would respond in writing to a se

Blackrock is out with its latest macro perspectives note and it makes a compelling argument: Inflation is largely driven by supply shocks, not fiscal policy and raising rates isn’t the solution.
It’s been largely driven by manufacturing shortages and a shift in consumer spending into goods

WTI crude oil futures settles at $85.14 to end the trading week
Not so fast with that breakout in Treasury yields
OPEC+ continues to struggle to meet its production quotas
Beijing reports 12 new covid infections
Baker Hughes oil rig count falls 1 to 491
Yellen: Inflation is

The 200-day moving average in the S&P 500 is not to be taken lightly. The last time we had a genuine break below was at the start of the pandemic and it was a free fall from there. Notably, a few minor incursions (pun intended) below have ultimately been buying opportunities.

On the day:S&P

After the painful drops in US financials after earnings followed by today’s 23% drop in Netflix after disappointing guidance, it’s a daunting time to be reporting.
Here’s a look at who is on the earnings calendar next week. The main event is also the FOMC decision on Wednesday and that will be follo

The price of WTI crude oil futures are settling at $85.14 to end the trading week. That is down $0.41 or -0.48% on the day.
The high price reached $85.56. The low reached $82.78. 
The high prices reach reached $87.10. The low for the week was on Monday at $81.58. The high price was a new seven year