News

Ford is offering its most premium pickup truck customers a new package, including a personal concierge, accessory discounts and a maintenance plan.

CEO Kelly Ortberg said that a few 737 Max planes that were in China set to be delivered to carriers there have been flown back to the U.S.

Short-covering was on display as stocks shot up on signs of easing tensions on trade even though no concrete deals have been reached yet.

Relocating production lines takes years of planning and construction and requires massive amounts of space and capital.

The Mexican peso and stock markets have done well this year even as the growth outlook dims. Yesterday the IMF downgraded Mexican GDP forecasts and now the World Bank sees no growth at all this year as it now sees 0% GDP growth compared to 1.5% in January.

Other LatAm changes:

• Brazil to 1.8% from 2.2%
• Argentina to 5.5% from 5.0%
• LatAm and Caribbean to 2.1% from 2.5%

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

More from ECBs Knot:

• Not concerned about prospect of stronger EUR and smaller current-account surplus

The EURUSD has traded to the highest level going back to November 2021 this week (the high price on Monday reached 1.15726).. At the start of the session today, the price fell sharply to a low of 1.1307. The current priceis trading at 1.1339. That is below its 200 hour moving average of 1.1391, but above support at the low for the day, and below that support on the daily chart between 1.1271 and 1.1275 (the high from 2023, and the 61.8% retracement of the trading range since the 2020 high price)..

This article was written by Greg Michalowski at www.forexlive.com.

The USDCAD has moved higher in the North American session, breaking back above a key swing area between 1.38078 and 1.38499 (highlighted by the red numbered circles on the chart). The rally has taken the pair up to a session high near 1.3890.

On the 4-hour chart, the next upside target comes into focus near the 1.3930 level—a key resistance zone to watch if bullish momentum continues.

Drilling down to the hourly chart, the pair has also broken above both the 100-hour and 200-hour moving averages. The 100-hour MA was cleared at 1.3832, followed by the 200-hour MA at 1.3861. Holding above these levels keeps the buyers in control from a technical standpoint.

A move back below the 200- and 100-hour MAs would weaken that bullish outlook and suggest a potential shift back toward neutral or bearish bias.

The buyers are making a play, but there is work to do from a technical perspective.

This article was written by Greg Michalowski at www.forexlive.com.

The broader US stock indices are trading higher on the day but trading at session lows.

• The S&P index is up 76.57 points or 1.44% at 5363.16. The high for the day reached 5469.69
• the NASDAQ index is up 375 points or 2.29% at 16671.80. The high for the day reached 17029.86

At session highs today, both the S&P and NASDAQ indices tested their falling 200 hour moving averages. For the S&P index, the 200 hour moving average comes in at 5467. The high price was 5469 (green line on the chart below).

For the NASDAQ index, the 200-hour moving average came in at 17009. The high price extended above that level to17029.86, but could not sustain momentum and rotated back to the downside.

Finding willing sellers near the 200-hour moving average keeps the bias tilted in favor of the sellers and reinforces the technical importance of that level—both today and going forward. For buyers to regain control, the price will need to break and hold above the 200-hour moving average. Failing that, a rotation back toward the 50-hour and 100-hour moving averages remains a likely scenario for both indices.

This article was written by Greg Michalowski at www.forexlive.com.

Corporations like Target, McDonald’s and Delta donated to Trump’s inaugural committee after skipping the last two cycles. Now he has roiled their businesses.

The EURGBP pair eased slightly on Wednesday, slipping toward the lower end of its recent consolidation range after the European session. The pair was last seen hovering near the 0.8600 area, reflecting a mild pullback within a still-bullish technical setup.