Gold 1 OZ (XAU=X) fighting the downtrend, nearing old support zone

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Gold 1 OZ (XAU=X) fighting the downtrend, nearing old support zone The downtrend off the February high print at $1,346.8/oz. remains in play, just, while the short-term upside is capped between $1,287/oz. (61.8% Fibonacci retracement) and the May 17 high at $1,289/oz. To break the series of recent lower highs, gold needs to break and close above the May 14...

Australia: S&P/ASX 200 (.AXJO) has reached 12-year highs

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Australia: S&P/ASX 200 (.AXJO) has reached 12-year highs The ASX 200 is not doing badly out of a period of trade-related risk appetite which has hit other markets. The Sydney equity benchmark reached highs not seen since late 2007 last week as a range of fundamental factors combined to lift it. Rising iron ore prices played their part, with Australia’s primary...

Euro: USD/EUR (EUR=X) treading water with little in the way of news to move the market

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Euro: USD/EUR (EUR=X) treading water with little in the way of news to move the market The Euro went back and forth during trading on Tuesday as currency markets were relatively quiet after the Memorial Day weekend. That being said, the market looks as if it is hanging around the 1.12 handle, a significant resistance barrier that extends at least 50...

British Pound: USD/GBP (GBP=X) Expected to Trade Sideways

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British Pound: USD/GBP (GBP=X) Expected to Trade Sideways The British pound went back and forth against the US dollar during trading on Tuesday, as we continue to bounce around. It makes sense of the Brexit of course steals all the headlines but at the end of the day we also have to worry about global trade. If the global trade situation...

Shanghai: SSE Composite Index (.SSEC) investors seek new catalysts after a long holiday weekend while monitoring U.S.-China trade tensions

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Shanghai: SSE Composite Index (.SSEC) investors seek new catalysts after a long holiday weekend while monitoring U.S.-China trade tensions U.S. stocks closed near intraday lows Tuesday after major benchmarks surrendered earlier gains as investors sought new catalysts after a long holiday weekend while monitoring U.S.-China trade tensions. How did major benchmarks fare? The Dow Jones Industrial Average DJIA, -0.93% shed 237.92...

Japanese Yen: USD/JPY (JPY=X) short-term pullback

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Japanese Yen: USD/JPY (JPY=X) short-term pullback The 110.00 level has been of interest lately in USDJPY as last week saw prices push below this key area on the chart. This keeps USD/JPY in a bearish spot, although there may be need for a short-term pullback before the bearish side of the pair can become attractive again. The 110.00 level hasn’t...

Silver 1 OZ 999 NY (XAG=X) struggles. with technical resistance

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Silver 1 OZ 999 NY (XAG=X) struggles. with technical resistance A soft start for silver this week as the three-month downtrend remains dominant and currently caps any upside moves. Silver remains under all three moving averages and below the 23.6% Fibonacci retracement level at $14,92. To initiate a turn higher, silver will need to break the pattern of lower highs...

Ferrari (NYSE:RACE) Clienti Headed to Maranello for Hybrid Debut

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$RACE Ferrari's (NYSE:RACE) official teaser for the V8 hybrid debuting this week was released on Instagram Tuesday, The Aristocrat of Supercar makers, Ferrari takes its 1st run into the hybrid mix with a 1000hp entry, the Maranello Outfit will make a show of it. The motorcycle rider who ran down the prototype a few weeks ago looks to have...

Cash is King, Retail Investors Nervous Ahead of Summer

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$DIA, $SPY, $SOX, $QQQ, $RUTX, $VXX FLASH: Cash is King for investors heading into Summer Increasing a cash buffer is typical during times of economic and geopolitical uncertainty. But data from global wealth managers show that stashing cash has continued at unusually high rates even as global stocks have rallied this year on conflicting signals from central banks, mixed macroeconomic data and...

US Consumer Confidence Up in May, Economic Optimism Best Since 2000

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US consumer confidence rose in May as households grew more upbeat about the labor market, suggesting the economy remained on solid ground despite signs that activity was slowing after being temporarily boosted by exports and a build-up of inventories. The surge in confidence reported by the Conference Board on Tuesday came despite an escalation in tensions in the 10-month trade dispute between...