Oil major BP (BP.L) plans to sell more U.S. crude to Asia as its shale oil production grows, seeking to capitalize on growth in the world’s key demand region. The strategy, outlined in a Reuters interview with company executives, follows BP’s move to acquire giant miner BHP’s (BHP.AX) assets in the United States’ prolific Permian […]
After circling around the $10,600 support for most of yesterday, Bitcoin’s price spiked to above $10,700 but failed to breakthrough to $10,800. Bitcoin’s (BTC) price failed to break through the $10,800 area, resulting in the OG cryptocurrency plunging back below the $10,700 area while most of the major altcoin markets saw losses. Bitcoin price fails to […]
U.S. stocks closed solidly higher Thursday after American and Chinese officials declared a tentative resumption of tariff talks, viewed by Wall Street as a sign of progress in the yearlong trade conflict between the economic superpowers. Also helping boost sentiment were a series of bullish economic reports, including data from ADP estimating the private sector […]
Facebook is in the middle of another serious problem of a security breach involving a feature that the company had disabled more than a while ago. According to reports, Facebook has unknowingly exposed personal data for many of its accounts in an unrestricted and unprotected database that was recently found by a security researcher. Sometime in July […]
Facebook Inc (FB) said earlier this week that its face recognition technology would be made available to all of its users with an option to opt out. In addition, the “Tag Suggestions” feature has been discontinued. Facebook shares closed higher for the sixth time in the past eleven trading sessions on NASDAQ on Wednesday. It […]
A January 2018 crash involving a Tesla and a firetruck was due to driver inattention and the “Autopilot” system design that allows motorists to disengage, federal investigators said Wednesday. The Culver City, California crash took place when a Tesla “Model S” rode into a firetruck that had been parked in the high-occupancy vehicle lane when […]
Sterling rebounded today after British lawmakers seized control of the parliamentary timetable to try to block a no-deal Brexit. The gain, which followed the pound slumping to a three-year low yesterday, is likely to precede more big price swings in the currency as the battle over Brexit enters another crucial phase. Lawmakers who defeated Prime […]
Coming out of the Labour Day weekend, the crypto market is looking very green with most of the top 100 coins listed by market cap posting growth in the last 24 hours, according to data fromCoinMarketCap . Bitcoin ( BTC ) has taken the lead with eight percent growth, resulting in a trading price of […]
For 5,000 years, gold has proven its status as the ultimate store of value. Today’s investors rush to buy the precious metal at the faintest market uncertainty. Over the past decade, global central banks have joined the gold rush. The volumes of gold gobbled by regulators across the world in 2018 reached the second highest […]
The widespread acceptance of Facebook’s Libra cryptocurrency would pose a threat to monetary policy in the EU, according to one board member of the European Central Bank (ECB), Yves Mersch. He said on Monday that “Depending on Libra’s level of acceptance and on the referencing of the euro in its reserve basket, it could reduce the […]
Gold futures posted a potentially bearish closing price reversal top last week. Although the chart pattern does not indicate a change in the main trend, it does signal that the selling is greater than the buying at current price levels. The catalyst behind the selling pressure was the stronger U.S. Dollar. A steep plunge in […]
The Australian share market looks set to start the week on a subdued note. According to the latest SPI futures, the ASX 200 index is poised to open the day 5 points or 0.1% lower this morning. On Wall Street the Dow Jones rose 0.15% higher, the S&P 500 index rose 0.05%, and the Nasdaq […]
Facebook, Inc. (NASDAQ:FB) is trading up 2% today, last seen at $185.46, rising with the broader tech sector. This move to the upside comes after a recent meet-up with the 160-day moving average. According to Schaeffer’s Senior Quantitative Analyst Rocky White, the last three encounters with this trendline have sparked an average one-month gain of 6.2%. Looking […]
Gold prices are modestly higher in early U.S. trading Thursday, but silver continues to power ahead with sharp gains to hit another more-than-two-year high overnight. Safe-haven demand and technical buying continue to be featured in both metals. December gold futures were last up $4.60 an ounce at 1,553.70. December Comex silver prices were last up $0.279 at $18.74 an ounce. A slightly […]
Asian markets retreated in early trading Thursday, as geopolitical tensions and the inverted U.S. Treasury yield curve weighed on investors concerned about a global economic slowdown. U.S. Treasury Secretary Steve Mnuchin that he expects Chinese officials to travel to Washington for renewed trade negotiations, but did not give a timeline, Bloomberg News reported. He did […]
The Australian share market looks set to end the week with a bang after Chinese officials said they don’t want to escalate the trade war. According to the latest SPI futures, the ASX 200 index is poised to open the day 47 points or 0.7% higher this morning. On Wall Street the Dow Jones raced […]
Apple (NASDAQ:AAPL) loosens grip on iPhone repair work Apple on Thursday said it will begin supplying parts and training to independent repair shops, offering more options to service for devices made by the California tech giant. The change of course came in the face of criticism that the iPhone maker’s tight grip on where repair […]
Tesla (NASDAQ:TSLA) launches insurance in California, promising savings and no snooping Tesla Inc. said late Wednesday it has launched an insurance product, promising hefty savings and no snooping for owners of its vehicles in California. Tesla Insurance is “designed to provide Tesla vehicle owners with up to 20% lower rates, and in some cases as […]
Ethereum: USD/ETH (ETH=) Dives Below Crucial Support In the past few days, we saw how ETH price struggled to clear the $192 and $195 resistance against the US Dollar. The price even settled below the $190 support and the 100 hourly simple moving average. As a result, there was a sharp decline below the $185 […]
Bitcoin: USD/BTC (BTC=X) Drops Below $10,000 Level Cryptocurrency prices slumped on Thursday in Asia, with Bitcoin down more than 5% and below the key $10,000 level. The digital coin slid more than $600 and fell from $10,200 to $9,600 in just 30 minutes, according to data compiled by Coindesk. The reason behind the movement was […]
Bitcoin: USD/BTC (BTC=X) Price Drops Sharply The price of Bitcoin (BTC) has dropped dramatically today, falling by $600 at 6:00 p.m. UTC on Aug. 28. In the course of an hour, the Bitcoin price sank from $10,269 to $9,630, but is currently attempting to stage a recovery. At press time the coin is trading at […]
Singapore: STI Index (.STI) falls on telecom, consumer stocks Philippine stocks rose over 1% on Wednesday, recovering from the previous session’s sharp fall on hopes of positive news from President Rodrigo Duterte’s visit to China, while other Southeast Asian markets were tepid amid lingering trade war worries. The benchmark Manila stock index closed 1.3% higher, […]
ASX 200 Gold 1 OZ (XAU=X) miners have launched into all-time highs The ASX 200 gold miners have launched into all-time highs as the gold spot price has soared by more than US$250/oz since May. Coupled with the low interest rate environment and weak Australian dollar, gold producers are in a prime position to make […]
Silver 1 OZ 999 NY (XAG=X) price outpaces Gold SILVER PRICES again outpaced gold in London trade Wednesday, hitting 29-month highs as the dearer precious metal held $10 below this week’s spike to new 6-year highs on a fresh fall in longer-term interest rates across the rich Western economies. US bond yields fell to new 3-year […]
China stocks down amid trade uncertainty; Hong Kong: (HSI:.HSI) inches up Chinese stocks fell on Wednesday morning amid lingering uncertainty around the Sino-U.S. trade war, as the positive impact from MSCI’s latest phase of China stock inclusion fades. The CSI300 index fell 0.4% to 3,800.04 at the end of the morning session, while the Shanghai […]
Australia: S&P/ASX 200 (ASX:.AXJO) posts gains as tech stocks shine The Australian share market has climbed modestly for a second day, buoyed by the tech sector, while the Aussie dollar has hit a 10-year low against its US counterpart. The benchmark S&P/ASX200 index finished Wednesday up 29.4 points, or 0.45 per cent, to 6,500.6 points, […]
NASDAQ Composite (.IXIC) Investors’ focus on speech by Federal Reserve Chair Jerome Powell An index of stock markets worldwide crept lower on Thursday on uncertainty over the outlook for U.S. interest rate cuts and weak U.S. manufacturing data that raised concerns about the health of the world’s largest economy. U.S. manufacturing industries in July recorded […]
Apple Inc. (NASDAQ:AAPL) two new “Pro” models are said to be in the works Apple plans to unveil three new iPhones next month, including two new “Pro” models and a successor to the iPhone XR, Bloomberg reported Thursday. The “Pro” models are meant to replace the iPhone XS and iPhone XS Max, according to the report. They’ll be […]
United States Oil (USO) weakened as worries about the global economy weighed Oil prices weakened on Thursday as worries about the global economy weighed and equity markets were under pressure as uncertainty over the outlook for U.S. interest rate cuts left investors on edge. Traders are awaiting a speech from Federal Reserve Chair Jerome Powell […]
Bitcoin: USD/BTC (BTC=X) Dates To Watch Any good investor, trader, or financial analyst – be it Bitcoin, crypto, or traditional financial markets – conducts due diligence such as fundamental analysis and technical analysis before and while taking a position, to minimize risk and maximize reward. As part of this analysis, oftentimes, analysts also look for important […]
Why Nordstrom, Inc. (NYSE:JWN) Stock Surged Shares of Nordstrom (NYSE: JWN) were gaining today after the well-to-do department-store chain posted an earnings report that, while troubling, was still better than the market had anticipated. Considering how far Nordstrom shares had fallen this year, investors seemed to take the opportunity to bid up shares of the turnaround play as […]
Amazon.com, Inc. (NASDAQ:AMZN) just opened its biggest office building in the world Amazon just opened its biggest office building in the world in the Indian city of Hyderabad.The online retail giant’s new campus in the city’s financial district opened on Wednesday. It covers 9.5 acres and has 1.8 million square feet of office space, making it […]
Ethereum: USD/ETH (ETH=) could become the first public blockchain on Hyperledger Ethereum could become the first public blockchain on Hyperledger – if the open-source consortium’s technical steering committee approves a proposal to adopt the ConsenSys-backed Pantheon project. Pantheon is a suite of ethereum-based services built by PegaSys, a 50-strong engineering team at ConsenSys. The Pantheon […]
Dow Jones Industrial Average (.DJI) investors awaited a key speech from the Federal Reserve’s top official The Dow Jones Industrial Average rose slightly on Thursday as investors awaited a key speech from the Federal Reserve’s top official. The 30-stock index climbed 49.51 points, or 0.2% to 26,252.24 in a volatile session that saw it rise as much […]
Tesla, Inc. (NASDAQ:TSLA) Outlook After Walmart Sues Over Solar Panel Fires? It seems like every few months Tesla TSLA is in the news for a scandal or some production issue. TSLA has also been a hot stock for young investors and people searching for massive growth potential from a firm in game-changing industry. You can […]
Facebook, Inc. (NASDAQ:FB) Directors and Officers Recent Trades COB and CEO of Facebook Inc Mark Zuckerberg sold 125,600 shares of FB on 08/19/2019 at an average price of $186.36 a share. The total sale was $23.4 million. Facebook Inc is the world’s largest online social network. Its products are Facebook, Instagram, Messenger, WhatsApp, and Oculus. Its […]
Bitcoin: USD/BTC (BTC=X) sellers are again struggling to force a sustained break Bitcoin (BTC) sellers are again struggling to force a sustained break below a widely-followed support level, but the outlook would turn bullish only above $10,956. The premier cryptocurrency by market value fell by $600 in the Asian trading hours on Wednesday, confirming a rising wedge […]
AMMB Holdings Berhad (1015:KL) Q1 net profit rises 12.6pc to RM391.46m AMMB Holdings Bhd (AmBank Group) posted a 12.6 per cent rise in net profit to RM391.46 million in the first quarter ended June 30, 2019 (Q1) from RM347.59 million in the same period a year ago. Revenue was 10.1 per cent higher at RM2.39 […]
DAX PERFORMANCE-INDEX (.GDAXI) attempts to push through key resistance zone The DAX has outperformed the FTSE 100, with yesterday’s gains taking us within striking distance of the 11,862 resistance level. A break through that level would bring us into a much more positive outlook for the index. As such, today will be dominated by the ability or […]
UK FTSE 100 (.FTSE) weighed by a strengthening pound as Brexit deal hopes lifted the UK currency FTSE 100 closed lower on Thursday weighed by a strengthening pound as Brexit deal hopes lifted the UK currency. The UK’s blue-chip index finished down 75.79 points at 7,128.18 The midcap FTSE 250 lost 2.43 to stand at […]
Shanghai: SSE Composite Index (.SSEC) Investors are waiting for the Federal Reserve Chairman Jerome Powell will speak at an economic meeting in Jackson Hole, Wyoming Asian markets were mixed Thursday as investors digested a slew of corporate earnings.Japan’s Nikkei 225 (N225) rose 0.1%,while Hong Kong’s Hang Seng Index (HSI) fell 0.5%. China’s Shanghai Composite Index (SHCOMP) was flat. South Korea’s Kospi (KOSPI) fell 0.5%. China’s largest electric […]
Gold 1 OZ (XAU=X) Investors focus on Federal Reserve’s Economic Policy Symposium in Jackson Hole, Wyoming Gold prices have been trading sideways the past few days, in line with our gold price weekly trading forecast. But now that the Federal Reserve’s Economic Policy Symposium in Jackson Hole, Wyoming is here, all that could change. Speeches by various […]
Canadian Dollar: USD/CAD (CAD=X) CPI indicated that the Bank of Canada could trigger central bank divergence With the strong oil prices and BOC’s likely monetary policy divergence, the USD/CAD pair drops to 1.3290 during Thursday’s Asian session. Following better than forecast Consumer Price Index (CPI) data from Canada, speculations were on the rounds that the […]
New Zealand Dollar: NZD/USD (NZD=X) continues to weaken on expectations of further rate cuts by the Reserve Bank of New Zealand The New Zealand Dollar continues to weaken on expectations of further rate cuts by the Reserve Bank of New Zealand even after central bankers shocked the markets with a surprise 50-basis point rate cut […]
British Pound: USD/GBP (GBP=X) Analysts remain sceptical Sterling’s gains will be enduring Pound Sterling rallied against the Euro, U.S. Dollar and other major currencies on Thursday after French President Emmanuel Macron said the Withdrawal Agreement can be amended to allow the UK to leave the European Union with a deal. Gains accelerated in the London […]
Australian Dollar: USD/AUD (AUD=X) forecasts cut at CBA, recovery scrapped, as headwinds mount ommonwealth Bank of Australia (CBA) has released new forecasts that show the Sydney-based lender no longer expects the Australian Dollar to recover into year-end. Previous forecasts suggested Australia’s Dollar was due to catch a break in the final quarter of 2019 as the Federal […]
Euro: USD/EUR (EUR=X) central bankers from around the world are discussing monetary policy, will have a massive effect on where things go next The Euro went back and forth during trading on Thursday as we continue to see a lot of noise just below the 1.11 handle. That being the case it looks as if the […]
Japanese Yen: USD/JPY (JPY=X) implied volatility could creep higher US Dollar price action and FOMC member commentary is front and center with the kickoff of the Federal Reserve of Kansas City’s annual Jackson Hole Economic Symposium today. Forex traders and equity investors alike have anxiously awaited clarity from Fed Chair Powell and other central bank officials […]
Silver 1 OZ 999 NY (XAG=X) position taking and evening from the futures traders ahead of speeches coming from central bankers Gold and silver prices are lower in early U.S. trading Thursday, as trader and investor risk aversion is not keen. The metals could also be seeing some position evening from the futures traders ahead of speeches coming […]
Hong Kong: Hang Seng Index (.HSI) face their worst slumps in operating income since the 2008 Hong Kong stocks are poised for their worst quarter since 2015 and corporate earnings are unlikely to save them. After a sell-off erased more than US$600 billion from the city’s equities, attractive valuations stood as a potential bright spot. […]
Target Corporation (NYSE:TGT) stock has biggest-ever one-day gain Target Corp. stock soared 20.4% in Wednesday trading after a second-quarter earnings report that provided analysts with further evidence that a combination of store and online sales is valuable. The stock move means Target TGT, +20.43% is heading towards a record one-day percentage gain. Target reported fiscal second-quarter earnings and revenue that […]
Ethereum: USD/ETH (ETH=) price started a fresh decrease after it failed to climb above the $202 resistance After a strong rejection near the $200 and $202 resistance levels, ETH price declined heavily against the US Dollar. There were also bearish moves in bitcoin and ripple below $10,000 and $0.2800 respectively. It opened the doors for more losses […]
Apple Inc. (NASDAQ:AAPL) new credit card with Goldman Sachs could be a disruptive force Apple’s new credit card with Goldman Sachs could be a disruptive force in more than just the banking industry, according to two analysts at MoffettNathanson. The technology device giant’s move into banking could enable it to give customers financing for new models of […]
The fundamentals, optics, and technicals all imply a healthy end-of-year rally for Facebook, Inc. (NASDAQ:FB) stock Much unlike calendar 2018, calendar 2019 has been a really good year for shares of global social media giant Facebook (NASDAQ:FB). Year-to-date, FB stock is up more than 40%. For what it’s worth, FB stock fell 25% in 2018. Most signs […]
United States Oil (USO) to Remain Range-Bound WTI Crude Oil prices were trading flat on Wednesday. The US Energy Information Administration (EIA) report showed that the crude oil inventory fell by 2.7 million barrels for the week ending August 16. This was the first decline in inventory in the past three weeks. The build-up comes […]
Bitcoin: USD/BTC (BTC=X) support at $8,143.04 The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to gain traction from here. Price is trading below both moving averages to indicate the presence of selling pressure. The […]
NASDAQ Composite (.IXIC) Investor sentiment lifted Investor sentiment lifted on Wall Street after upbeat earnings from the large retailers signalled consumer demand is still strong in the United States. That was despite last week’s recession signals from the bond market which triggered panic selling across global markets. The Dow Jones index jumped 240 points, or 1 per cent, […]
Tesla, Inc. (NASDAQ:TSLA) Walmart is claiming millions of dollars in damages It isn’t as if the company’s core electric car business is without issue. But in 2016, it went and bailed out the debt-laden SolarCity, which was owned by Elon Musk’s cousins and in which he himself was an early investor. The result: Tesla’s own […]
Bitcoin: USD/BTC (BTC=X) risks falling back to recent lows below $9,500 Bitcoin (BTC) risks falling back to recent lows below $9,500, having strengthened the short-term bearish case with a $700 drop earlier today. The top cryptocurrency fell from $10,843 to $10,082 in the eight hours to 07:00 UTC, confirming an end of the bounce from […]
UK FTSE 100 (.FTSE) All eyes on Fed minutes FTSE 100 closed higher midweek as traders awaited the publications minutes from last month’s US Federal Reserve meeting. Traders hope the tone from the US monetary policy committee meeting will be towards a further easing of interest rates, rather than a tightening of policy, which is making […]
Japanese Yen: USD/JPY (JPY=X) increased demand for risk overnight The Dollar/Yen is trading higher on Wednesday, rebounding from yesterday’s sell-off. Higher U.S. Treasury yields and increased demand for risk overnight are helping to underpin the Forex pair. The two-day price action suggests investors are squaring positions ahead of today’s release of the minutes of the […]
Gold 1 OZ (XAU=X) solid resistance at the August high of $1,546.10 Technically, the gold bulls have the solid overall near-term technical advantage. A 2.5-month-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at the August high of […]
Hong Kong: Hang Seng Index (.HSI) higher even as investors grappled with lingering worries over global growth Hong Kong shares edged up on Wednesday, even as investors grappled with lingering worries over global growth and political uncertainty in parts of Asia and Europe. The Hang Seng Index added 0.2% to 26,270.04 after trading in a […]
Canadian Dollar: USD/CAD (CAD=X) inflation is expected to slip below target The latest look at Canadian inflation today is expected to show price pressures easing in July from 2% down to 1.7%, while the core reading is expected to nudge 0.1% lower to 2.1%. If either of these expectations are missed on the downside, markets […]
Euro: USD/EUR (EUR=X) continue to see the 1.11 EUR level attract a lot of attention The Euro has gone back and forth during the trading session on Wednesday, as we continue to see the 1.11 EUR level attract a lot of attention. Ultimately, this is a market that remains negative longer term, so I look at […]
Australian Dollar: USD/AUD (AUD=X) Risk-on mood remains supportive This coupled with the prevalent risk-on mood, as depicted by a positive trading sentiment around equity markets, provided an additional boost to perceived riskier currencies – like the Aussie – and remained supportive of the ongoing positive momentum, albeit persistent US-China trade tensions might keep a lid […]
Singapore: STI Index (.STI) core inflation likely eased to its slowest pace in nearly three years Singapore’s core inflation likely eased to its slowest pace in nearly three years in July, reinforcing expectations that the central bank will loosen policy later this year to support the city-state’s subdued economy. A Reuters poll of 11 economists […]
British Pound: USD/GBP (GBP=X) slightly lower The British pound has rolled over a bit during the trading session on Wednesday, as the 1.22 level has offered a significant amount of resistance yet again. That being said though, the 1.2250 level is also resistance, and of course we have the 50 day EMA above which is painted […]
Shanghai: SSE Composite Index (.SSEC) investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more U.S. interest rate cuts Global stock markets were back in positive territory Wednesday as investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more […]
New Zealand Dollar: NZD/USD (NZD=X) continues to drift sideways The New Zealand Dollar continues to drift sideways to lower nearly two week after the Reserve Bank of New Zealand (RBNZ) stunned the financial markets by cutting interest rates a steep 50 basis points and even indicated it may be willing to take rates below zero. […]
Silver 1 OZ 999 NY (XAG=X) showing resilience in the face of rallying global stock markets this week Gold and silver prices are moderately lower in early U.S. trading Wednesday, as trader and investor sentiment remains positive at mid-week. Still, the precious metals market bulls should not be too disappointed in price action so far this week, as […]
Australia: S&P/ASX 200 (ASX:.AXJO) turned skittish ahead of a key meeting of central bankers The Australian share market has given up most of its gains from Tuesday, as markets around the world turned skittish ahead of a key meeting of central bankers. The benchmark S&P/ASX200 index finished Wednesday down 61.7 points, or 0.94 per cent, […]
Ethereum: USD/ETH (ETH=) Significant Movement Is Expected Ethereum holders have already taken a beating since the ICO boom helped bring the price per ETH to as much as $1,400 each. The fall from grace represents an over 85% drop from the previous all-time high, and some skeptics suggest that some altcoins may never again reach […]
United States Oil (USO) fell last week while gasoline inventories decreased U.S. crude stocks fell last week while gasoline inventories decreased and distillate stocks built, data from industry group the American Petroleum Institute showed on Tuesday. Crude inventories fell by 3.5 million barrels in the week to August 16 to 439.8 million, compared with analysts’ […]
Bitcoin: USD/BTC (BTC=X) Faces Further Losses After Rejection Near $11K Bitcoin is losing altitude after rejection near the psychological hurdle of $11,000 earlier today, and may fall below $10,000 in the next 24 hours. The leading cryptocurrency by market value rose to a high of $10,956 at 00:03 UTC today on Bitstamp, extending its recovery […]
Tesla, Inc. (NASDAQ:TSLA) to postpone self-driving feature’s price increase Tesla Inc. TSLA, -0.85% Chief Executive Elon Musk tweeted late Tuesday that a price increase on the company’s FSD, or full self-driving feature, is postponed until a latest version is in “wide release,” some four to eight weeks away. Musk had tweeted in July that the cost of the […]
Twitter, Inc. (NYSE:TWTR) shares are being guided upward It has been incredibly erratic action, but progressive action nonetheless. That is, Twitter shares are being guided upward, squeezed toward the narrowing tip of an ascending wedge pattern. More recently, TWTR stock has been finding support at levels that suggest the buyers are working on forcing a […]
Dow Jones Industrial Average (.DJI) investors contended with worries about the strength of the U.S. economy U.S. stocks finished at their lows of the session on Tuesday as investors contended with worries about the strength of the U.S. economy and political developments in Europe that were weighing on government bonds. How are the major benchmarks […]
The Home Depot, Inc. (NYSE:HD) will feel the impact of lumber price deflation and Lowe’s improvement Home Depot Inc., the largest U.S. home improvement retailer, is feeling the squeeze for two reasons: lumber prices have topped out and competitor, Lowe’s Cos. Inc. has been improving its performance, according to the company and analysts, Home Depot HD, +4.40% […]
Alibaba Group Holding Limited (NYSE:BABA) has delayed its up to $15 billion listing in Hong Kong China’s biggest e-commerce company Alibaba Group has delayed its up to $15 billion listing in Hong Kong amid growing political unrest in the Asian financial hub, two people with knowledge of the matter told Reuters. Alibaba’s Hong Kong-listing plans are being closely watched by […]
NASDAQ Composite (.IXIC) Investors await Fed chair’s speech on Friday Financial shares led U.S.stocks lower on Tuesday to end a three-day rally as investors awaited comments from Federal Reserve Chair Jerome Powell at the end of the week. The S&P 500 financial index .SPSY dropped 1.4% and the group weighed most heavily on the benchmark […]
Facebook, Inc. (NASDAQ:FB) Libra Partner Mastercard Is Building Its Own Cryptocurrency Team Mastercard (MA) reportedly is assembling its own cryptocurrency team. The payments stock is a partner in the Facebook (FB) Libra digital currency project. Meanwhile Bitcoin is attempting to rally after its worst week in 2019. Mastercard is recruiting staff with expertise in the “cutting-edge intersection of […]
Apple Inc. (NASDAQ:AAPL) Card is now available to everyone in the US The Apple Card is now available to all U.S. customers, the company said Tuesday. Apple announced the full launch of its new iPhone-integrated credit card, a joint venture with Goldman Sachs, on its website Tuesday. Previously, a limited number of customers were invited to apply for the card […]
UK FTSE 100 (.FTSE) gains reverse as fears of further political turmoil in Italy rise It was a day of two halves for both currency and equity traders in the UK after the FTSE 100 reversed early gains to end 0.9pc lower at 7,125 points. The mid-cap FTSE 250 also slipped, ending 0.5pc lower at […]
Euro: USD/EUR (EUR=X) Rate Flat as Italian PM Conte’s Possible Resignation in Spotlight The Euro US Dollar (EUR/USD) exchange rate held steady at $1.107 today, as Italian Prime Minister Giuseppe Conte may face removal as Deputy Prime Minister, and leader of the League, Matteo Salvini could push for a no-confidence vote in the Government. As […]
Hong Kong: Hang Seng Index (.HSI) returning to negative territory Stocks in Asia were mixed on Tuesday, as the People’s Bank of China published its new loan prime rates which would result in cheaper borrowing costs for companies. Mainland Chinese stocks were mixed on the day, with the Shanghai compositeshedding earlier as it slipped 0.11% to about 2,880.00. […]
Silver 1 OZ 999 NY (XAG=X) more upbeat trader and investor attitudes Gold and silver prices are modestly up in early U.S. trading Tuesday, as Monday’s price weakness is reckoned to be a buying opportunity in markets that remain in solid uptrends and not far below their recent highs. More upbeat trader and investor attitudes early this week […]
Australia: S&P/ASX 200 (ASX:.AXJO) good support for the market across the board The Australian share market has enjoyed strong gains for a second straight day, with every sector advancing. The benchmark S&P/ASX200 index finished Tuesday up 77.6 points, or 1.2 per cent, to 6,545 points, while the broader All Ordinaries was up 76.9 points, or […]
Gold 1 OZ (XAU=X) higher with a slide in U.S. Treasury yields Gold futures climbed on Tuesday, with a slide in U.S. Treasury yields helping the haven metal recoup more than a third of what it lost a day earlier, when a rally in the U.S. stock market prompted some settling in bullion. Gold for […]
British Pound: USD/GBP (GBP=X) lost some momentum in its recovery Last week’s recovery in GBP/USD was peculiar for two reasons. First, because Sterling has been notoriously weak for more than a month now. Second, because the pair managed to rally alongside the dollar. Early this week the inverse correlation between GBP/USD and the dollar index (DXY) has […]
Singapore: STI Index (.STI) rose in line with broader Asia as stimulus proposals in major economies muted recession fears Thailand cuts 2019 growth forecast to 3% from 3.8% Thai customs-cleared trade data for July due on Wed Malaysia hits over 1-week closing high By Niyati Shetty Aug 20 (Reuters) – Singapore and Malaysian stocks rose […]
Canadian Dollar: USD/CAD (CAD=X) price reflecting the buyer’s indecision to keep pushing higher On August 15, USD/CAD rallied to 1.3339 however, at this day the pair closed with a Doji candlestick, reflecting the buyer’s indecision to keep pushing the price higher. Consequently, the following day the price tested its weekly low. On August 14, the […]
Bitcoin: USD/BTC (BTC=X) losing altitude after rejection near the psychological hurdle of $11,000 Bitcoin is losing altitude after rejection near the psychological hurdle of $11,000 earlier today, and may fall below $10,000 in the next 24 hours. The leading cryptocurrency by market value rose to a high of $10,956 at 00:03 UTC today on Bitstamp, […]
Shanghai: SSE Composite Index (.SSEC) investors ponder the extent and impact of Beijing’s interest rate reform China and Hong Kong stocks barely moved on Tuesday as investors took a breather and pondered the extent and impact of Beijing’s interest rate reform. The CSI300 index was unchanged at 3,790.92 at the end of the morning session, […]
DAX PERFORMANCE-INDEX (.GDAXI) pushing past Fibonacci resistance The DAX is heading higher once again this morning, with the index rising through the 76.4% Fibonacci resistance level at 11,721. Once again, we have a clear downtrend in play here, given the creation of lower highs and lows. That means we would need a break through 11,862 to bring […]
New Zealand Dollar: NZD/USD (NZD=X) builds support from key Fibonacci NZD/USD continues to show evidence of having bottomed. Last week I looked at the initial build of a falling wedge pattern and this led to a continued test of support at the .6403 Fibonacci level, which is the 61.8% marker of the 2008-2011 major move […]
Japanese Yen: USD/JPY (JPY=X) ¥107 level above should continue to be resistance The US dollar rolled over a bit during the trading session on Tuesday, breaking below the bottom of the trading session on Monday. This of course is a very negative sign, and it should send this market much lower. At this point, the ¥107 […]
Australian Dollar: USD/AUD (AUD=X) continues to consolidate The Australian dollar has gone back and forth over the last several sessions, and of course the 0.68 level has offered a lot of resistance. We continue to pull back from that area on short-term charts, but I think at this point it’s obvious that the 0.67 level should […]
Apple Inc. (NASDAQ:AAPL) rallying Treasury yields and China trade news provided the early catalyst The stock market rally added to its recent gains early Monday, as the Dow Jones industrials at one point gained more than 250 points. Rallying Treasury yields and China trade news provided the early catalyst. Dow Jones stock Apple (AAPL) — along with investment banks Goldman Sachs (GS) and JPMorgan (JPM) […]
Alphabet Inc. (NASDAQ:GOOG) trading at valuations nearly as rich as they have ever traded The outlook for US technology stocks is more nuanced. Apple and Microsoft’s near trillion-dollar valuations rest on “aggressive, not implausible, assumptions”. Others, such as Amazon, “might or might not currently qualify as bubble stocks; we could make the case either way”. However, like Tesla, […]
