Author Archive: Jeremy Parkinson
Sensex Ends Day In Green; Consumer Durables Stocks Top Gainers
After opening the day in green, share markets in India witnessed buying activity throughout the day and ended the day on a positive note. Gains were seen across most sectors with stocks in the consumer durables sector and stocks in the IT sector, leading the gains. At the closing bell, the BSE Sensex stood higher by 91 points (up 0.3%) and the NSE Nifty closed […]
Gold – Friday, November 24
Rounding bottom pattern with 1,308 being the trigger. Source: INVESTING.com
The Currency Majors Are Consolidating
Yesterday’s trades on the main currency pairs were fairly calm. The financial markets of the US and Japan were closed due to the holidays. The US currency remains under pressure after the publication of the FOMC protocols. Some Fed’s representatives are concerned about the low level of inflation in the country. The Central Bank plans […]
Gold’s 47-Year Bull Market
The following monthly chart shows that relative to a broad basket of commodities*, gold commenced a very long-term bull market (47 years and counting) in the early-1970s. It’s not a fluke that this bull market began at the same time as the final official US$-gold link was severed and the era of irredeemable free-floating fiat […]
German IFO Business Climate Beats With 117.5 – EUR/USD Extends Gains
The IFO business climate reaches a new high of 117.5, significantly better than 116.6 expected. The Business Expectations component hits 111 points, also beyond early predictions and only the Current Assessment number is somewhat short of predictions with 124.4. The upbeat data is in line with other figures. EUR/USD is extending its gains, reaching above […]
EU Concern Rising About Italian Debt
The EU Commission is deeply concerned that Italy is under pressure to spend frivolously because of the upcoming elections. The EU is applying more scrutiny for Italy’s huge sovereign debt. Because of the vast size of the Italian economy, the high level of total debt is a major cause for the Eurozone as a whole. The […]
Elliott Wave Analysis: Forex, Oil And BTC/USD
Good day traders! BTC/USD is trading higher, unfolding a clear bullish movement which indicates black wave V to be in progress. Specifically, we see price trading choppy and slow for the last few sessions, which also suggest the price to be making a corrective pullback within uptrend. We see a potential EW triangle correction unfolding […]
USD/CAD Daily Analysis – Friday, November 24
USD/CAD is now facing 1.2666 support. A breakdown below this level could signal resumption of the downtrend from 1.2916, then next target would be at 1.2600, followed by 1.2433. Near-term resistance is at 1.2790, only break above this level could trigger another rise towards 1.2916 previous high.
UK Inflation Rate Remains Flat As Employment Levels Fall
Last week’s economic data for the UK was a mixed bag. While inflation remained broadly flat compared to the previous month, wage data indicated worrying signs as employment numbers fell. This comes amid a SME survey result indicating that businesses were preparing to cut their overhead costs to keep up with the price increases. Brexit […]
What Can Stop This Party?
There’s a pretty strong argument to be made that once vol. spikes sustainably, the biggest risk to markets is what JPMorgan’s Marko Kolanovic is calling “quantitative exuberance.” That’s a little bit of an eye-roller. Apparently, everyone had the same idea for their year ahead previews. “Let’s do a riff on ‘irrational exuberance.’” Someone was first with “rational […]
