US futures yesterday closed higher having a positive start to the session as PCE inflation data which ended in positive despite other economic data not having been as good as expected. The unemployment data has been better than expected and the economic growth data has been as expected. Overall, there is a general sense of economic slowdown. Today's PCE price...
Gold prices fell below the current average trading zone in the Asian session as the bias in the dollar and distrust of the metals ahead of inflation data may possibly affect interest rates. Industrial metals such as copper also posted losses due to weakening confidence with major importer China.
Spot gold currently opened the European session at $2,300 slightly...
- The market was trading below a bearish trendline for a month ; the short-term trend was then bearish.
- In mid-June, and with the establishment of a new low above 0.6435, the market has registered a sharp rebound.
Investors' appetite for risk suddenly grew, and FX safer havens such as CHF and JPY currencies have been fled from traders.
The market accelerated...
Oil prices rose slightly at the beginning of the Asian session on the surprise of excess inventories in the U.S. stockpiles. This was largely driven by the geopolitical risks of conflicts in the Middle East and the prospect of an eventual drawdown of these inventories during the third quarter, which is the time when demand increases. At the start of the European...
- The market is trading above a bullish trendline since mid-April ; The mid-term trend is then bullish.
- However, since the establishment of a new all time high above the psychologic level of 20,000pts, bear traders have taken control of the market.
The RSI indicator has already given a bearish signal by breaking out its own bullish trendline, while both...
We start the day with slightly positive stocks in Europe, after yesterday the US indices closed with the S%P500 and Nasdaq closing negative and the Dow Jones closing slightly positive. The Canadian index closed higher with the S&P/TSC Composite up +1.36% after positive earnings releases in energy, socimis and utilities boosted the Toronto index. Highlights: Africa...
- The market is trading above a bullish trendline since March 2024 ; the mid-term trend is then bullish.
- Since the last impulsion wave that led the market to $32.150, prices have registered a pull back in a shape of a bearish flag pattern.
This pull-back led the market back to its mid-term bullish trendline, where bull traders prevented prices from dipping...
Today in Spain a scandal has been revealed about how to pay 60% more pensioners with the same number of employed people. The baby-boom generation is starting to retire, and it is expected that by 2050 there will be 6 million more pensioners and the same number of workers. There are currently 21 million employed (taxpayers) and more than 9 million pensioners. The...
- The market is trading below a bearish trendline since beginning of May 2024 ; the mid-term trend is bearish for EURGBP.
- Since the impact over 0.8397, the market has registered an increased buying pressure, preventing prices from dipping further.
This slow trading mind shift has led the market into what looks like a potential inverted Head & Shoulders bullish...
Expected today was UK retail sales data, which rose 2.9% in the previous month. April's decline of -1.8% during a period of heavy rain on the island kept customers away from the stores, according to the UK's Office for National Statistics. The expected forecast was for a positive correction of 1.5% according to surveys but this has been far exceeded. Also...
It appears that the failure of Swiss government-backed Swiss bank UBS last year, which was subsequently absorbed by Credit Suisse, prompted the government to regulate more restrictively for banks that are considered key and too big to fail destabilizing the Swiss economy, in April. Hence, the Swiss National Bank and the governing federal council acted on capital...
The Ibex will not initially suffer from the Chinese veto on domestic wool, and the tax increase on meat imports. It will do so later. And I will explain why, the index does not weight anything in food, only services, finance, and energy. When Banco Santander and BBVA, the textile company Inditex, the telecoms Amadeus and Telefónica and Iberdrola move, the index...
European market stocks rose at the open driven by easing concerns about regional political turmoil in a week that is set to see several central bank meetings, including the Bank of England (BoE). It appears that the call for elections in France makes it easier to believe that Macron's center-left group will have a tough time against the Rassemblement Nationale in...
"Neutral" interest rates according to the Federal Reserve Bank of New York, was killed at 0.7% in the first quarter of 2024. This indicator shows us that the rate level should support a booming economy that will sustain the rate cut target towards 2%. While the Fed's long-term forecast for the federal funds rate has risen to 2.8%. Wells Fargo has brought out the...
This Friday's Asian open has started cold concerning the Fed's effect on Asia-Pacific crosses this time around. Sentiment especially from China on tariffs in the Eurozone has heightened concerns of a renewed trade war. For Chinese companies, it is not so much a hindrance as a temporary restraint that is likely to be solved by their strategic alliances along the...
- The market is trading below a bearish trendline which took place at the beginning of April ; the mid-term trend is then bearish for the black gold.
- However, since the impact over $72.43, the LCrude has registered a sharp bullish price action, led by bull traders who managed to defend that zone as well as short-sellers who bought their short positions...
The Fed has left us air on this year's rate cuts, and a weak majority of the Open Markets Committee is leaning toward a single cut, when in March there was a consensus for two. Powell has warned of the high level of uncertainty in the market to get carried away with the dot plot, a collection of economic, inflation, employment and interest rate forecasts obtained...
- The market has been trading inside a bullish channel since mid-April ; the mid-term trend is then bullish.
- Since the beginning of June, and another impact over the lower bound of the mid-term bullish channel, bulls have taken control of the market and ended a 7-days long correction.
The market has registered a sharp rebound over that zone, driven by hopes of...
