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Trump’s message to Vladimir Putin came a day after the American president said he believed that “Russia is ready” for a peace deal with Ukraine.

U.S. stock futures dropped on Thursday as a short-lived rally faded. Investors weighed the unpredictable trade moves by the Trump administration and mixed corporate earnings reports. Stocks are having a hard time building on Wednesday’s rally, which was driven by hints that President Trump may be softening his tough stance on trade and the Federal […]

The post Trade Tensions, Earnings Reports, and Dow Jones Analysis appeared first on Action Forex.

WTI oil edged higher on Thursday and recovered part of losses of previous day (down 2.4% for the day) after OPEC signaled further output increase from June. Limited recovery remains weighed by signals of further supply increase and with still unclear situation with tariffs, after calmer tones were heard from the US President yesterday. Overall […]

The post WTI Oil: Recovery Faces Strong Headwinds at Key Fibo Barrier appeared first on Action Forex.

There has been a back and forth regarding the tariff headlines as traders and investors are clouded in uncertainties. Clearly, the economic war has narrowed to a face-off between the US and China. Meanwhile, if we take our eyes away from the headlines, what’s price telling us? In this article, we will use the Elliott […]

The post S&P500 (SPX) Elliott Wave Forecasts Amid Tariff Uncertainties appeared first on Action Forex.

For what it is worth (more of some of the rehash from yesterday). FoxBusiness Gasparino it X’ing

• Trump White House is informing senior Wall Street executives of a near-term trade agreement in principle with India.

• Sources are senior Wall Street execs with connections to the White House.

• No specific timing details yet; past efforts with Japan were delayed due to renegotiations.

• The envisioned India deal would include:

  • Agreed-upon goals

  • Resolved issues

  • A set deadline for a finalized trade pact

• Deal could serve as a template for similar agreements with Japan, South Korea, and Australia.

• Press officials for Scott Bessent declined to comment but did not deny the report.

• Story is still developing.

Here is the SCOOP

Love how the WH tells Wall Street execs

Let me guess, it will be a “Memorandum of understanding” and the thorny issues will be figured out later.

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

USDCAD moved higher on Wednesday, breaking above both its 100- and 200-hour moving averages (blue and green lines on the chart above) —a bullish technical development. Notably, this marked the first sustained move above the 200-hour moving average since April 9. Back then, the pair briefly breached the level before reversing sharply and trending lower, ultimately bottoming at 1.3827 on April 14 after falling from 1.4260.

Today, however, the upside momentum faded. During the Asia-Pacific session, the pair attempted to hold above the 200-hour moving average (currently near 1.3860), but that level gave way at the start of European trading. The subsequent decline saw the price test the 100-hour moving average, now at 1.38356, with a session low of 1.3839 before a modest bounce.

While the price did manage to briefly move back above the 200-hour MA, it quickly slipped back between the 100- and 200-hour moving averages, putting the pair in neutral short-term territory. These two moving averages are now acting as the key technical barometers.

• A sustained move below the 100-hour MA would open the door for a retest of this week’s lows near 1.37808. Move below that and the pair is trading at the lowest level since October 2024 and opens the downside for more probing.

• Conversely, a break back above the 200-hour MA at 1.3860 could revive bullish momentum—though buyers already failed once during the early North American session, which raises doubts about follow-through on the upside.

For now, the battle lines are drawn between the moving averages, and traders will be watching closely for the next directional shove.

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

There are reports that:

• Apple is struggling to ship manufacturing equipment to India from China
• It moved subassembly lines back to China from India due to quality and cost concerns
• It is unable to use Chinese firms for production in India due to geopolitical tensions

Shares of Apple are trading down -0.37% in premarket trading at $203.85. Yesterday the price moved briefly above its 200 hour moving average, currently at $204.36. The 38.2% retracement of the move down from the December all-time high at $260.10 comes in and $203.93. The price is trading above and below that level in premarket trading. If the buyers are to take more control, they would need to get back above both the 30.2% retracement and the 200 hour moving average. Absent that and a rotation back down toward the 100 hour moving average at $194.95 cannot be ruled out.

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

German ECB Governing Council member Joachim Nagel acknowledged today that Germany faces significant downside risks to growth due to US tariffs. “As far as economic growth is concerned, which of course also depends on the level of the respective tariffs, the impact in Europe will also be significant for Germany,” he warned. But on inflation, […]

The post ECB’s Nagel and Lane warn of growth hit from tariffs, downplay recession risk appeared first on Action Forex.

China dumps critical minerals, collapsing prices and making it difficult for U.S. companies to compete, Interior Secretary Doug Burgum said.

US durable goods orders soared by 9.2% mom in March to USD 315.7B, far surpassing expectations of a 1.5% mom gain. The sharp rise was driven almost entirely by a surge in transportation equipment, which jumped 27% mom to USD124.6B, marking a third consecutive monthly increase. Orders excluding defense also posted a strong 10.4% mom […]

The post US durable goods orders surge 9.2% mom on transportation demand, but underlying momentum stalls appeared first on Action Forex.