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<p>Going into the FOMC rate decision, the AUDUSD was mired near the middle of an up and down trading range. </p><p>The FOMC decision sent the price higher, outside of the trading range and the race to the upside was on.</p><p>Today, the price continued it's move to the upside and in the process extended above the

<p>Bloomberg is reporting that ECB sources are saying that the policy members are largely united on forecasting rate cuts later than the market thinks.</p><p>The markets are projecting around 145 bps of easing in 2024 and a 52% probability of a cut in March. </p><p>Today ECB Pres. Lagarde said that the central bank did

<p>The Atlanta Fed GDPNow model estimate for Q4 growth jumps to 2.6% from 1.2% on December 7. That's a big jump.</p><p>In their own words:</p><blockquote>The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.6 percent on December 14, up from 1.2 percent

<p>The price of crude oil is rebounding in trading today after bottoming near swing area support yesterday. </p><p>Looking at the daily chart above, that swing area comes in between $66.82 and $68.22 (see red numbered circles). Yesterday the low price reached $67.71 between those swing levels. Today the price currently up $2.80 or

<p>ECB President Christine Lagarde was under the weather at today's press briefing and led to some less-than-sharp messaging but — between the lines — she was clear on what had changed.</p><p>"We are at the medium-term target that we set for ourselves of reaching the 2% at the end of our projection," she

<p>European stock markets surged early in the day only to pare back gains following the ECB decision and in part due to a large gain in the euro.</p><ul><li>Stoxx 600 +0.8%</li><li>German DAX flat</li><li>UK FTSE 100 +1.2%</li><li>French CAC +0.6%</li><li>Italy MIB +0.2%</li

<p>The EURUSD – coming into the trading day – had resistance against the 61.8% retracement of the 2023 trading range at 1.09594 (see video above). </p><p>When the price in the early North American session moved through that level without much in the way of resistance, the price extended higher and is now up-testing the

<p>Like many other currency pairs, the USDCAD is moving in the direction of a lower dollar and in the process is stretching toward a key technical target. The pair is moving closer to its 61.8% retracement of the 2023 trading year. That level comes in at 1.33999. The low price today has reached 1.34192. A […]

<p>Retail sales surprised to the upside in November but CIBC warns that there are signs of deceleration that should mount in the months ahead.</p><p>The CIBC report on US November advance retail sales highlights a modest increase, signaling a positive start to the holiday shopping season. Retail sales rose by 0.3%, beating expecta

<ul><li>Prior was +0.4% (revised to +0.2%)</li><li>Retail inventories ex-autos -0.9% vs -0.9% prior</li></ul><p>This is a low-tier indicator but inventories are looking to be a minor drag on Q4 growth.</p> This article was written by Adam Button at www.forexlive.com.