News

The USD/CAD pair surrenders its intraday gains and falls back to near 1.3860 during North American trading hours on Thursday.

The warning sign from a healthcare giant seen as the insurance industry’s bellwether may mean trouble for companies with Medicare Advantage plans.

United States EIA Natural Gas Storage Change came in at 16B below forecasts (24B) in April 11

The major US stock indices remain mixed. The Dow industrial average is largely impacted by United health which is down $122 or -21% at $462. That has the Dow industrial average down 577 points or -1.46%.

Meanwhile the broader indices are giving up their early gains.

• NASDAQ index is now down -37 points or -0.24%. At session highs the index is up 95 points.
• S&P index is trading unchanged at 5277. At session highs the index was up 32.56 points

Nvidia continues to be under pressure and is down -3.5% at $100.81. Matter is down -0.31% and Microsoft is down -0.36%.

Although the markets seem pressured, the NASDAQ index did reach a low of 14784.03 back on April 7. The current price is 16250. The S&P index reached a low of 4835.04. The current price is trading at 5275.

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

In an interview with Fox Business New York Fed President John Williams said monetary policy is “well positioned”. “I don’t see any need to change the setting of the fed funds rate anytime soon,” he added. He expected US growth to dip below 1% this year, accompanied by a rise in the unemployment rate to […]

The post Fed’s Williams: No urgency for rate change, expects sub-1% growth without recession appeared first on Action Forex.

The New York Times was out late yesterday with a report relevant to the Middle East and oil traders:

• Israeli officials had recently developed plans to attack Iranian nuclear sites in May to set back Iran’s nuclear program by a year.
• Trump made clear to Netanyahu that he would not provide American support for an Israeli attack in May while the negotiations were playing out
• Netanyahu initially pushed for an option that would have combined airstrikes with commando raids
• Gabbard argued the buildup of American weaponry could potentially spark a wider conflict with Iran that the United States did not want

There are reports of a larger buildup of American navy assets in the Arabian sea, though the target is purportedly the Houthis in Yemen.

I take this report as a sign that nothing is imminent, though the latest reports on negotiations aren’t as good as they were coming out of the weekend. Also note that the targets here all appear to be nuclear, not energy more broadly or oil.

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

This week turned out to be relatively quiet for the dollar. The dip at the end of last week was replaced by hovering near the bottom, i.e. around the 99 level on DXY, which corresponds to the lows of the last three years and slightly below the reversal area of the last two years. This […]

The post Dollar at the Bottom: Tariffs Ruin ‘Exorbitant Privilege’ appeared first on Action Forex.

The Bank of Canada leaving policy on hold on Wednesday provided a minor boost for the Canadian Dollar (CAD) but the pair has nudged a little higher again this morning, reflecting minor gains in the US Dollar (USD), leaving funds trading more or less bang on our fair value estimate (1.3881), Scotiaba