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Why spreads matter more than you think, Elev8 broker explains
The spread, the difference between the bid (selling price) and ask (buying price)—can become a substantial expense when trades are frequent. According to the World Gold Council, average spot-market spreads were 0.02% for gold (XAUUSD) and 0.09% for silver (XAGUSD) between February 2025 and February 2026. It means your
USDCAD buyers push higher, but the 100-day MA remains a key hurdle
The USDCAD trended higher through September (see chart below), but the buyers ran into a ceiling in early October. Three separate highs between October 5 and October 14 stalled near 1.4291–1.4298. The buyers had their chances to extend the trend. They could not get through.That inability to break higher opened the door
Gold tests its 100-hour moving average as buyers look for more control
Gold is extending higher today and testing its falling 100-hour moving average near $4043. That level is the short-term barometer for buyers and sellers. A move above—and the ability to stay above—would give buyers more confidence after last week’s sharp decline. Stay below, and sellers retain the technical advantage.S
US October Richmond Fed -2 vs -2 expected
Manufacturing shipments 0 vs -5 last monthOther details:Employment 3 versus 7 last monthWages 20 versus 17 last monthPrices paid 7.12 versus 7.08 last monthPrices received 5.27 versus 4.19 last monthNew orders -8 versus -6 last monthBacklog of orders -21 versus -10 last monthCapacity utilization -7 versus -7 last month
October US consumer confidence 91.7 vs 81.0 expected
Prior was 81.9 (revised to 84.2)Present situation 120.4 vs 111.8 priorExpectations 72.6 vs 65.7 priorThis is a nice jump but it comes after the worst reading since 2014 so it's still at extremely depressed levels. In any case, I struggle to see the value of this indicator as anything but a political barometer. That's v
US New home sales for September 0.676M annualized vs 0.650M estimate
Prior month 0.684M annualized revised lower to 0.680M annualizedDetails: New home sales: 676,000 annualized. Prior 680,000.Sales change: −0.6% MoM; −5.3% YoY.Homes for sale: 476,000 vs 481,000 in August. Down 2.3% YoY.Months’ supply: 8.4 months vs 8.5 months in August and 8.2 months a year earlier.Median sales price: $
Bitcoin trades in a narrow range above and below $80,000. What would get the digital currency out of its rut?
Bitcoin has been moving lower since the September and October highs formed a ceiling near $87,374. The repeated failures near that level gave sellers a clearly defined area to lean against. Buyers had their opportunities to extend the upside, but they could not sustain a break. The price has since worked its way lower.
S&P 500 rebounds as US-Iran escalation fears fade, but bearish drivers remain intact. What's next?
The S&P 500 sold off sharply last week as growth concerns, widening credit spreads and the risk of renewed US-Iran strikes weighed on risk sentiment. Although no new US attack has occurred so far, the risk of further escalation remains elevated as we approach the US midterm elections.The fundamentals continue to point
US August Case-Shiller 20-city house price index +2.7% y/y vs +2.6% expected
Prior was +2.5% y/y20-city house price index +0.3% m/m vs +0.3% expectedMortgage rates at 7.5% aren't doing any favors for the housing market.For background, the S&P Case-Shiller Home Price Indices are the best-known measure of US house prices. They’re published on the last Tuesday of each month at 9 am ET and carry a
US FHFA Monthly home prices index 0.3% vs 0.2% estimate
Prior month 0.3%Details of the reportUS August FHFA house prices rise 0.3% as expected; annual growth slows to 2.4%House prices MoM: +0.3% vs +0.3% expected. Prior revised to +0.2% from +0.3%.House prices YoY: +2.4% vs +2.6% expected. Prior revised to +2.6% from +2.5%.House Price Index: 444.6 vs 443.5 expected. Prior r
Another Apple launch is off to a bad start
It’s starting to feel like Apple’s tradition: every big launch comes with a problem. The iPhone 4 had signal issues when held a certain way, the iPhone 6 Plus was bending in people’s pockets, and the iPhone 15 Pro was getting unusually hot until an iOS update helped fix it.Now it’s the iPhone Duo’s turn. Just hours aft
US September durable goods orders +1.8% vs +1.7% expected
Prior was 0.0%Ex-transport +0.5% vs +0.6% expectedPrior ex-transport +0.3%Ex-defense +2.2% vs +0.1% priorNon-defense capital goods orders ex-air +0.5% vs +0.7% expectedPrior +1.6%Durable goods orders have been chopping sideways for much of the past year and today's report is more of the same. it's a nice climb but it c
investingLive European news wrap: Markets remain rangebound ahead of the FOMC decision
Headlines:FOMC Preview: A hawkish hold as markets watch for signals about timing and extent of further tighteningWhy the Federal Reserve matters more to crypto market than many investors realiseOil consolidates around recent highs as fears of imminent US strikes ease. What's next?ECB rate outlook grows more complicated
Morning Kickstart: Dollar mostly higher as yields ease ahead of the Fed
The U.S. dollar is mostly higher heading into the North American session, but the gains are not across the board. The greenback is advancing against the EUR, GBP, JPY, CHF and CAD, while losing ground against the AUD and NZD. EURUSD and GBPUSD are trading nearer their session lows, keeping the immediate focus on whethe
FOMC Preview: A hawkish hold as markets watch for signals about timing and extent of further tightening
The Federal Reserve is widely expected to keep interest rates unchanged at 3.75–4.00% at tomorrow’s FOMC meeting, with markets pricing a 90% probability of a hold. With limited changes expected to the policy statement, the focus will be on Fed Chair Warsh’s press conference.Despite higher September inflation data stren
Why the Federal Reserve matters more to crypto market than many investors realise
Cryptocurrencies have different use cases and fundamentals, but the macroeconomic conditions are an important underlying driver. The Federal Reserve's policy has an enormous influence on macroeconomic conditions through liquidity, borrowing costs and risk appetite, making it a key factor for the crypto market. Because
Oil consolidates around recent highs as fears of imminent US strikes ease. What's next?
Crude oil is consolidating around recent highs as the fears of imminent US attacks on Iran eased. Nevertheless, the market remains supported amid persistent escalation risk given the prolonged stalemate in negotiations. Moreover, the talks between Saudi Arabia and Iran failed to produce any meaningful breakthrough, wit
Bitcoin at risk of a big correction after breaking below the major $80K support. What to watch next?
Bitcoin broke below the key support zone around the 80,000 level recently as fears of potential US strikes on Iran over the weekend weighed on the crypto market. The lack of US attacks eased the bearish momentum but didn’t change the bigger picture as the persistent risk of another escalation continues to limit the ups
ECB rate outlook grows more complicated as bank lending conditions tighten
The ECB just released its latest bank lending survey and it's not exactly painting a particularly encouraging picture for the euro area economy. Of note, banks are tightening their lending standards further while demand for loans is falling across the board, largely due to the backdrop of higher interest rates continui
European stock market open: Stocks retreat as caution returns, UK leads losses
European stocks are opening lower across the board today in giving back some of yesterday's gains as investors remain cautious ahead of major central bank decisions and big tech earnings later this week. Here are the opening changes:Eurostoxx -0.2%Germany DAX -0.1%France CAC 40 -0.4%UK FTSE -0.9%Spain IBEX -0.3%Italy F
Gold gets stuck in a consolidation around the $4,000 level as traders await the FOMC decision, US-Iran developments
Gold got stuck in a consolidation around the 4,000 level as traders await the next key catalysts to pick a direction. The first one is tomorrow’s FOMC decision where the Fed is widely expected to keep interest rates unchanged and keep the current stance. We could see a relief rebound if the Fed delivers on expectations
France consumer confidence plunges to lowest since 2013 as fiscal worries deepen
France October consumer confidence 80 vs 85 expectedPrior 86; revised to 85That's a major blow. French household confidence falls to its lowest since 2013 in October as fiscal worries and concerns over the country's public finances weigh heavily on sentiment. That is not a good look as the index strays further away fro
What are the main events for today?
EUROPEAN SESSIONIn the European session, we don't have much on the agenda other than a couple of low-tier releases like the French consumer confidence and the Spanish unemployment rate. The data won't change anything for the ECB, so the market reaction will be muted. The risk sentiment is neutral to bearish at the mome
China tech stocks plunge as AI trade cracks deepen, is Wall Street next?
Things may be looking quieter and calmer in European pre-market but it wasn't really the case in Asia trading, or more specifically Chinese markets. While stocks in Japan and South Korea held up today, it was a different story in China as tech shares there took a heavy beating. The latest selloff is making for some rat
Chart of the day: Gold price hangs by a thread at $4,000 as bond market risks loom
So far this week, gold is hanging on around the $4,000 mark as buyers are hoping to prevent a bigger breakdown on the charts. After spending much of October struggling to find its footing, gold price is in a very vulnerable spot as we approach some major risk events later this week. The stakes are high for buyers to tr
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