Category Archive: Finance
Sensex Crosses 33,000-Mark; SBI & ICICI Bank Top Gainers
After opening the day on a strong note, the Indian share markets have continued the momentum and are presently trading off record highs following a mega recapitalization package for banks and a Rs 7 trillion infra booster ahead of October F&O expiry. Sectoral indices are trading mixed, with stocks in the PSU sector & banking sector leading the pack of gainers, […]
Gold Prices May Find Fresh Support As Risk Appetite Sours
Gold prices faced renewed selling pressure as Fed rate hike speculation found fresh momentum. The US Dollar rose alongside front-end Treasury bond yields, sapping demand for non-interest-bearing and anti-fiat assets epitomized by the yellow metal. Interestingly, hawkish sentiment did not seem linked to better-than-expected US PMI data. That suggests the seesaw in Fed-sensitive assets over the past 48 hours […]
FTSE Intra Day Elliott Wave Analysis
FTSE Elliott Wave view suggests that Primary wave ((4)) ended with the decline to 7199.5. Up from there, rally is unfolding as an impulse Elliott Wave structure where Minor wave 1 ended at 7327.5 and Minor wave 2 ended at 7289.75. Rally to 7494.34 ended Minor wave 3, and pullback to 7473.12 ended Minor wave 4. The […]
GBP/USD Bearish Momentum Reaches Key Support Line At 1.31
GBP/USD 4 hour The GBP/USD needs to break below the support (blue) trend line before a larger bearish breakout is triggered. A break above resistance (red) could indicate that a larger wave C (orange) can take place. 1 hour The GBP/USD could be in a wave 1-2 (brown) if price stays above the 100% Fibonacci […]
Gold-Backed Petro-Yuan Silliness: Reserve Currency Curse?
A massive amount of hype is spreading regarding China’s alleged ambitions to dethrone the dollar. The story this time involves China’s plan to price oil in yuan using a gold-backed futures contract. Even if that were true, the impact would be zero. Nonetheless, CNBC is now in on the hype. CNBC reports China has grand ambitions […]
Asian Shares, Oil Prices Head Higher
Japan’s Nikkei 225 stock index was up 0.08 percent at 1:06 p.m. HK/SIN, heading towards the 17th consecutive day of gains, an unprecedented winning streak for the index that set the index at a 21-year high. The Nikkei’s rally was bolstered by Japanese Prime Minister Shinzo Abe’s electoral victory last Sunday and the understanding that […]
The Fed, Inflation, And Full Employment
In this video, we look at the Fed, inflation and full employment. Specifically, the video walks you through a couple of slides of a recent edition of the Weekly Macro Themes report. In the video, we talk through the unemployment rate and the signal that it is giving on the status of the US labor market. […]
German IFO Business Climate Beats With 116.7 – EUR/USD Rises
The German economy is on a roll according to IFO: the business climate is up to 116.7, significantly above expectations. The Expectations component is up to 109.1 points and the Current Assessment rises to 124.8. All the figures are above expectations and are accompanied by minor upwards revisions. EUR/USD is rising towards the end of […]
Stock Swing Trade Ideas, Recent And Upcoming
Stock Swing Trades to keep an eye on, based on strong trending movement and the price finding support after a pullback. Stocks mentioned: OLED, WTW, CENX, MMSI, RNG, LL, TNET, SAP.TO, MTY.TO and BYD.UN.TO Universal Display (OLED): The price has already moved up from the entry, and earnings are on Nov. 2. Full Screen Make It […]
Gold Inches Down As Stocks Rise
Gold prices ended Tuesday’s session down $5.34 as gains in equity markets dented the appeal of the safe-haven metal. Apparently, the risk-on attitude across global markets and the dollar’s recent appreciation will continue to influence the price of gold. In economic news yesterday, IHS Markit’s Composite PMI came in at 55.7, up from 54.8 in […]
