The most crowded trade in foreign exchange just had its worst day in two months. USD/JPY fell as low as 156.10 on Thursday before settling at 156.49 — a decline of more than 150 pips from Wednesday’s levels and the pair’s weakest close since the mid-October panic that first broke the carry trade’s rhythm. The […]
Every market has a number that defines it. For gold right now, that number is $4,130 — and the metal spent Tuesday testing it almost to the dollar. Gold fell to $4,130.10 on Tuesday, its lowest price in two weeks, before recovering to close at $4,142. Wednesday’s session has been calmer, the metal stabilizing around […]
Three sessions ago, the S&P 500 looked like it might be starting something ugly. Today it looks like it finished something normal. The index rose for a third consecutive session on Wednesday, closing at 7,757 and completing a recovery of 1.5% from Friday’s correction low of 7,659. More than 60% of the two-day, 2.4% slide […]
It finally happened. After two weeks of compression, four failed probes, and a record-setting build-up of volume, bitcoin broke through the $84,800 ceiling on Wednesday, trading as high as $84,835 before settling at $84,563 — its highest close in two weeks and its first daily finish above the range in sixteen sessions. The session volume […]
Range breakouts are rarely clean events with a trumpet fanfare. More often they arrive the way Tuesday’s did: as a slow, persistent grind against a known ceiling, where each session takes a slightly bigger bite out of the resistance than the one before, until the sellers simply stop showing up. Bitcoin pushed to $83,288 on […]