FX

The S&P 500 has dropped back to close to the 3700 mark, down around 4% from earlier weekly highs. Stocks are being sold amid fears about the ongoing coordinated retail trader attack on Hedge Fund short positions. The S&P 500 slipped all the way back to below the 3700 on Friday, down roughly 2.5% at

USD/JPY keeps the positive view and could attempt a move to the 104.75 in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday USD ‘could move above the month-to-date high near 104.40’. We added, ‘a rise beyond 104.75 is unlikely’. Our view was not wrong as USD eased

GME cannot be stopped, where will it end? Brokers put restrictions on new positions in Gamestop (GME). Gamestop (GME) still has a huge short interest. Update Further to the prior news, (below) Gamestop (GME) shares have given back almost all of the prior day’s territory. The share price dropped from $483 to $112.25 on the

Open interest in natural gas futures markets reversed the previous drop and rose by around 4.7K contracts on Wednesday, in light of advanced figures from CME Group. Volume followed suit and rose by around 94.6K contracts, extending the erratic activity seen in past sessions. Natural Gas still looks to $3.00/MMBtu Wednesday’s upside in prices of

$GME (Game Stop) has been in a tremendous rally since it reached the blue box buying around the $8.20 area. The market has changed, and there is no question computers have taken over the market. We have done a series of articles explaining this idea. The market is always a fight between buyers and sellers.

S&P 500 Futures eases from the record top flashed on Tuesday. Vaccine hopes join IMF’s upbeat economic growth forecast but traders turn cautious before FOMC. Aussie CPI, China’s Industrial Profit flashed mixed signals to add to market’s confusion. S&P 500 Futures drop to 3,841, down 0.02% intraday, during Wednesday’s Asian session. The risk barometer refreshed

Here is what you need to know on Tuesday, January 26 2021: Indices were strong on Tuesday with the FTSE up 0.4%, Euro Stoxx up 1% and the Dax up nearly 1.5%.  Overnight, Asian stocks closed lower having had a strong performance on Monday. The Nikkei was down 1% and the Hang Seng down 2.5%. 

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NZD/USD started the new week on a firm footing. US Dollar Index fluctuates in a tight range above 90.00. Wall Street’s main indexes look to open in the positive territory. The NZD/USD pair gained traction during the Asian trading hours on Monday and advanced to a daily top of 0.7218 before going into a consolidation

Iraq, the OPEC’s second-biggest producer will pump around 3.6 million barrels daily in January and February, Bloomberg reported, citing Ali Nizar, the deputy head of State Organization for Marketing of Oil (SOMO). According to data compiled by Bloomberg, Iraq produced around 3.85 million per day in December. The planned oil output cut in January and

XAU/USD’s downside appears more compelling. Technical set up on the daily chart favors the bears. Focus remains on Biden’s stimulus passage and Fed decision. Gold (XAU/USD) witnessed a steep drop on Friday after facing rejection at the 21-daily moving average (DMA) of $1876 once again.   The sell-off drove the metal below the 50-DMA and 200-DMA

Gold (XAU/USD) fell 1% on Friday as risk-off mood and stellar US Markit Manufacturing PMI boosted the US dollar. Despite the decline, the yellow metal managed to close the week above the $1850 level, booking the first weekly gain in three weeks. Expectations of a massive US fiscal stimulus under the Biden administration kept the

Major US equity bourses closed the final trading day of the week in the red. A number of factors were cited as being behind the more defensive equity market tone. Stocks were given a mild boost following much stronger than anticipated preliminary January US Markit PMI numbers. Major US equity bourses closed the final trading

DXY trades in a volatile fashion above 90.00 so far on Friday. Further south of 90.00 emerges the YTD low at 89.20. DXY alternates gains with losses and always above the key 90.00 level for the time being. The inability of USD-bulls to push further north of recent tops in the 91.00 region prompted sellers

Gold fades recovery moves from $1,858.43, stays near two-week top. Looming border close in Britain, rumors over Japan’s canceled Olympic and EU’s tough lockdowns probe the bulls. Biden administration turned down hopes of vaccine availabilities in the Pharmacies by February. Stimulus hopes favor the bulls but monthly PMIs will decorate the calendar. Following its failure

NYSEAMERICAN:TRXC finished the day in the red after rising nearly 30% at one point. Transenterix received European approval for its Intelligent Surgical Unit. Investors are hoping Transenterix can get a share of the nearly 6 million annual laparoscopic surgeries in the U.S. and Europe. NYSEAMERICAN:TRXC had another rollercoaster trading session as shares surged by nearly

Gold Price Analysis: XAU/USD refreshes two-week high, eyes $1,900 amid risk on mood Gold buyers pause around $1,871, recent high of $1,871.28, after rising the most in 13 days the previous day, as Thursday’s Asian session begins. In doing so, the yellow metal seesaws around the recently flashed two-week top as traders await fresh push

Is gold weakness set to stay? Gold normally has a great start to the year on Chinese gold buying for the Lunar New year celebrations. In fact, over the last 10 years gold has risen in eight years out of ten during the month of January. 2012 saw a large rise of 9.14%. 2011 recorded