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Archives by Year:
AUD/USD Dips Toward 0.6700, Pressured By Strong US Data
Image Source: Unsplash AUD/USD’s continued decline fueled by robust US ADP employment and lower unemployment claims, overshadowing China’s PMI data. The swaps market adjusts expectations for Federal Reserve policy, anticipating less aggressive rate cuts by the end of 2024. Focus shifts to upcoming US Nonfarm Payrolls, with predictions of a decrease in job creation and […]
Chart Of The Day: AZZ Great Metal Coating
The Chart of the Day belongs to the metal coating specialist Azz (AZZ). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price […]
Peculiar FOMC Minutes Reaction
S&P 500 ignored soft landing supprotive data (JOLTS, manufacturing PMI), and instead sold off following – not on – FOMC minutes even if these contained slowdown of the balance sheet shrinking. Russell 2000 took the key hit, and it was led by regional banks rather than biotech, in a way connected to the XLRE (meaning […]
2023 Year End Sector Review
In this 2023 year-end sector review, part 1, we look at how companies performed during 2023 in the communications services, consumer discretionary, consumer staples, energy, and financial services sectors. Communication ServicesCommunication services usually bring to mind big telecom companies like AT&T, Verizon, BCE, or Telus. However, this sector has changed, now offering stocks from some […]
GBPUSD Analysis – Thursday, Jan. 4
Photo by Colin Watts on Unsplash The GBPUSD currency pair has been trading sideways within a range bound by 1.2610 and 1.2827. This consolidation phase suggests a period of indecision in the market, with buyers and sellers closely balanced.Looking ahead, there is a likelihood of another upward movement towards the 1.2827 resistance level in the coming days. If […]
Home Listings Rise As Sales Stagnate
Rebounding Treasury bond prices have lowered mortgage rates from their cycle high in October, but home prices at current mortgage rates are still painfully unaffordable for most.The Bank of Canada estimates that 45% of Canadian homeowners saw their mortgage payments rise in 2023, and 50% of mortgages initiated before March 2022 will face higher rates […]
Better Jobs Data
Image Source: Pexels Isaac Newton was born on this day in 1643, and markets appear to be celebrating his birthday with their rediscovery of gravity after last year’s rally in the final two months of the year. Analysts have also been getting in on the act as there have been as many downgrades of Apple (AAPL) in […]
S&P 500 At Late December Low: Breakdown Or Rebound?
Stock prices dipped again. Is it time to turn bearish?The stock market began the year on a very weak note, but currently, it appears to be just a correction of December’s advances. The S&P 500 index may also be entering a consolidation after a significant uptrend that started in November from the 4,100 level. On Tuesday, […]
Manufacturing Jobs Decline In Latest ADP Report, Services Soar
After four straight months of disappointments, ADP Employment Report printed +164k jobs in December, better than the +125k expected, up from a revised +101k gain in November.Source: BloombergThat is the largest monthly job gain since August with Services jobs dominating once again (+155k Services vs +9k Goods-producing).The advance was led by services sectors including leisure and hospitality and education […]
Nickel Futures Remain Depressed Near Three-Year Lows Amid Supply Glut
Image Source: DepositPhotosNickel futures continued to face downward pressure, sliding below the $16,500 per tonne mark, a level not far from three-year lows. The persistent weakness in nickel prices can be attributed to several key factors impacting the market: Robust Supply: The world’s leading nickel producers, including Indonesia, the Philippines, and China, have maintained robust supply […]
