World Stocks Hit All Time High, S&P Futures Rise To Within 1% Of Record
After yesterday’s violent gap up in stocks across the globe in response to the “expected” outcome from the French election, today the risk on sentiment has continued if to a lesser extent, with stocks in Europe, Asia all rising while S&P futures point to a higher open. Yen, gold decline, while the euro traded as […]
Euro Consolidates Gains, Bond Market Sell-Off Continues
The US dollar is again at the fulcrum of the foreign exchange market. The dollar-bloc currencies are under pressure, along with the Japanese yen, while the European complex is posting modest gains. The euro is consolidating in the half cent below $1.09. Yesterday’s marked up in early Asia saw the euro complete the 61.8% retracement […]
Dollar Continues To Fall, While Stocks Continue Rising
The very strong relief rally following the French elections caused stock markets globally to climb upwards. The election outcome was in line with polls, with pro European Candidate Macron probably gaining the Presidency with a 60% chance on May 7th. With political uncertainty related to the French presidential election cleared (for now at least), focus […]
Europe Is A Buy, Says Morgan Stanly Analyst Who Made The Prediction In March
With the first round of the French election in the rearview mirror, there are clear winners and losers. With Emmanuel Macron and Marine Le Pen facing the chosen two to face off in a May 7 election, Morgan Stanley says the outcome will be benign: markets will win.It will be interesting to see if Horseman Capital […]
Crude Oil Prices Look To Inventory Data For A Lifeline
Crude oil prices continued to decline, dropping to the lowest level in a month. A standout catalyst explaining intraday losses was not readily apparent but the broader narrative making the rounds on the newswires pointed to concerns about the inability of OPEC output cuts to boost prices in the face of swelling swing supply. Sellers’ resolve […]
Google Market Cap Hits An All Time High $600 Billion
Even as the US “brick and mortar” retail industry is in a tailspin of historic proportions, its ad spending must be better than ever, because on Monday Google parent Alphabet closed up 2.3%, hitting a new record high, and as Bloomberg pointed out first, the company’s market value crossed above $600 billion for the first […]
Major US Dollar Pairs Indicate Bull Flag Chart Patterns
EUR/USD 4 hour The EUR/USD is moving sideways and respecting the 61.8% Fibonacci resistance level of wave 2 (green). A bullish break could see price build an extension towards the 78.6% Fibonacci level. 1 hour The EUR/USD bounced at the 50% Fibonacci support level and most likely in a wave 4 (pink) correction. A break […]
5 Reasons To Bottom Fish Semiconductor ETFs
Semiconductor stocks were the star performers of the broader technology space in 2016 thanks to upbeat earnings, consolidation activities and innovative technologies. Areas like autonomous cars, 3D printers, fitness devices and IoT fueled growth in the sector, offsetting the otherwise-saturating businesses like PCs and smartphones. As a result, semiconductor ETFs including VanEck Vectors Semiconductor ETF (SMH – Free Report) […]
USD/CAD Elliott Wave View: Ending An Impulse
Short-term Elliott Wave view in USDCAD suggests the decline to 1.322 ended Intermediate wave (X). Up from there, the pair is showing 5 waves impulse structure where Minutte wave (i) ended at 1.3338, Minutte wave (ii) ended at 1.3258, Minutte wave (iii) ended at 1.3525, and Minutte wave (iv) ended at 1.3406. Near term focus is on 1.3596 – 1.364 area to […]
Sensex Trades Strong; Energy Stocks Witness Buying
After opening the day on a positive note, share markets in India have continued the momentum and are trading comfortably above the dotted line. All sectoral indices are trading on a positive note. Stocks in the energy sector and stocks in the capital goods sector are leading the gains. The BSE Sensex is trading up by 222 points (up 0.8%), and the NSE Nifty is […]
