Selling of Swiss Franc is somewhat the biggest theme in a very quiet day so far, with UK on holiday. On the other hand, some buying is picking up in Canadian Dollar. But overall, markets are mixed without a clear direction yet. Main focus will firstly be on whether US stocks could extend last week’s
Month: August 2021
S&P and NASDAQ up six the last seven trading days The major US indices are opening higher with the S&P and NASDAQ making new all-time intraday highs. The S&P closed at a record level for the 52nd time in 2021 on Friday. The NASDAQ index closed at a record high level for the 31st time
Trudeau’s decision to call an election looks like a disaster Canadian Prime Minister Justin Trudeau called an election two-years early hoping to ride Canada’s early vaccination success along with a solid overall handing of the pandemic and NAFTA to a majority government. That decision looks to have backfired in a big way. Polls showed he
New Delhi: Gold in the national capital on Monday dipped Rs 199 to Rs 46,389 per 10 gram amid a correction in global precious metal prices along with rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,588 per 10 grams. Silver also dipped Rs 250 to
UOB Group’s FX Strategists noted USD/CNH risks a deeper pullback on a close below 6.4500. Key Quotes 24-hour view: “The sharp drop in USD to a low 6.4585 last Friday came as a surprise. While there is scope for USD to weaken further, oversold conditions suggest that a break of the major support at 6.4500
The closely-awaited Jackson Hole speech by Fed chair Powell reaffirmed that QE tapering would begin later this year. While being more upbeat about the progress of employment and inflation, Powell warned of the downside risks posed by the rapid spread of the delta variant. He also attempted to de-link taper and rate hike, causing instant
Enterprise adoption of blockchain technology is an important long-term goal of the cryptocurrency community because the integration of digital currencies with daily business activities will bring new users into the ecosystem and provide a boost to on-chain activity. One protocol that has been gaining traction on the enterprise adoption front is XinFin Network (XDC), an
No explicit taper timeline The dollars move lower on the headlines from Fed chair Powell’s speech. No explicit taper timeline has sellers pushing the greenback lower. Yields are moving lower as well. The comments run counter to what most Fed officials have been saying which will make for an interesting September meeting. Of of course the jobs report in September will be a key talking
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on Sept. 1, Kuwait’s oil minister said on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Wednesday to discuss the previously agreed increase of 400,000
Pinterest Inc.,PINS: Daily Chart, August 26 2021.We should be missing one last move down, so look closely the 23.6 and 38.2 fib level, and after that we can look for buys. UiPath Inc.,PAHT: 4H Chart, August 26 2021After a confusing start which could be labelled as complex we may have completed a leading diagonal into wave {I}
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Swing area between 1.2577 and 1.2596 is the next downside target The CAD has followed the other currencies in moving higher versus a weakening dollar after Chair Powell did not satisfy the taper hawks. Looking at the hourly chart, the price has moved back below its 100 hour moving average at 1.36372. Stay below that moving average keeps the bears
Singapore has hit its 80% fully inoculated target (the population of Singapore is 5.7 million people). Singaporean authorities have previously said they’ll be further easing COVID-19 restrictions after hitting the 80% milestone. Great work SG. Meanwhile in Australia: Sydney (NSW state as a whole, but most is Sydney) reported 1026 on Saturday and reported 1218
Commenting on the US jobs scenario in an interview with CNBC late Friday, Federal Reserve Vice Chair Richard Clarida said, “We’ve made progress on the labor market.” Additional quotes “Expect further gains in the autumn.” “I don’t think it takes 800K gains in jobs but it will take robust gains.” “Inflation is very likely to be largely
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Whenever there’s data out on futures contracts liquidation, many novice investors and analysts instinctively conclude that it’s degenerate gamblers using high leverage or other risky instruments. There’s no doubt that some derivatives exchanges are known for incentivizing retail trading to use excessive leverage, but that does not account for the entire derivatives market. Recently, concerned
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