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Forexlive Americas FX news wrap: USD weakest of the majors today after retail sales disappoint

Forex news for North American trading on May 14, 2021 The week is ending with the USD as the weakest of the major currencies today. The NZD was the strongest.  

The major US indices close higher for the 2nd consecutive day

Stocks close near session highs The major US stock indices are close higher for the second consecutive day.  Some other highlights for the day/week - Week ends with 2 strong days higher after three down days to start the week the final numbers are showing:

CFTC commitments of traders: USD shorts increase led by CAD longs

Weekly forex futures positioning data from the CFTC for the week ending May 11, 2021. - EUR long 94K vs 85K long last week. Longs increased by 9K - GBP long 28K vs 20K long last week. Longs increased by 8K

AUDUSD moves above 100/200 hour MA as risk on continues

100/200 hour MA at 0.7776 area  The AUDUSD after testing the 100/200 hour area for 5 consecutive hourly bars has made a break for it with a break above the MA levels currently near converged at 0.7775 to 0.7777.  The price is currently trading at 0.7785.

The Nasdaq moves above the 50 hour. Now the 100 day MA is being approached

100 day MA is at 13438.47 currently The NASDAQ index continues its move to the upside and is currently trading up over 300 points or 2.3% at 13428.03 (that is the high). The last move to the upside took the price back above its 50 hour moving average currently at 13407.  The next target comes in at the 100 day

Gold trades back toward highs and looks to test swing high ceiling area

The recent swing high ceiling comes in between $1841.82 to $1845.44 The price of gold is trading up about $14.50 or 0.80% at $1841.24. That moves the price closer to the high for the day and also to the swing high ceiling seen over the last week or so between $1841.82 and $1845.45.  There were 4 consecutive days

S&P and NASDAQ test hourly moving averages

NASDAQ test the 50 hour moving average. S&P test 100 hour moving average The S&P index reached 4173.43, while the NASDAQ index reached 13406.86.

WH Econ Advisor Rouse: We've a long way to go on the recovery

White House economic advisor Rouse speaking. Meanwhile White House economic advisor Rouse is also speaking and says:

Dallas Fed Pres. Kaplan: Committed to anchoring inflation/expectations at 2%

Speaking at the University of Texas McCombs School Dallas Fed president Kaplan is speaking at the University of Texas McCombs School. Kaplan is not a voting member. He has been advocating for more discussions on tapering, but walked back some of his hawkish undertones after the weaker then expected jobs report last week.

Baker Hughes oil rig count 352 versus 344 last week

Baker Hughes rig count for the week of May 14 - Oil rigs 352 versus 344 last week - Gas rigs 100 versus 103 last week - Total rigs 453 vs 448 last week The price of crude oil before the report was at $65.31.

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