XAU/USD is facing the resistance of the upper trend line (now at around 1343.00) of the triangle pattern on its weekly chart once again. Being contained by the trend line, the gold price pulled back from 1344.65. XAU/USD Weekly Chart Let’s look into the 4-hour chart, the fall from 1344.65 is likely consolidation of the uptrend from…
The common investing practice is to chase stocks with a low price-to-earnings (P/E) ratio. That’s because this basic measure of how much investors are spending for $1 worth of earnings speaks of undervaluation. The logic is simple – a stock’s current market price does not justify its higher earnings and therefore leaves room for upside….
WTI Crude Oil The WTI Crude Oil market fell a bit during the session on Friday, but found enough support at the $63 level to turn around and form a hammer for the daily candle. That’s a very bullish sign, and I think it shows that we are trying to reach towards the $65 level…
Sanofi (SNY) and Bioverativ (BIVV) have entered into a definitive agreement under which Sanofi will acquire all of the outstanding shares of Bioverativ for $105 per share in cash, representing an equity value of approximately $11.6B. The transaction was unanimously approved by both the Sanofi and Bioverativ boards. The acquisition is expected to be immediately…
Equities in emerging markets posted the strongest advance among the major asset classes last week, based on a set of exchange-traded products. US bonds, meanwhile, continued to slide, delivering last week’s biggest setback for broadly defined markets. Vanguard FTSE Emerging Markets (VWO) was firmly in the winner’s circle for the shortened trading week in the US through…
Global stocks and U.S. bond markets on Monday shrugged off day three of the US government shutdown in Washington, although the dollar pulled back as the euro continued its strong start to the year, while U.S. stock index futures dipped less than 0.1% on expectations that the political impasse will not hurt the U.S. economy…
Indian share markets extended rally in the final hour of the trade, hitting fresh record highs while the Bank nifty touched 27,000 level for the first time. At the closing bell, the BSE Sensex finished higher by 286 points. While, the NSE Nifty finished higher by 72 points. Meanwhile, the S&P BSE Midcap Index and S&P BSE Small Cap Index ended up by 0.7% & 0.8%…
On Friday, Energy Information Administration (EIA) released an interesting statement. In their estimation, the United States will pass Saudi Arabia and Russia to become the leading exporter of crude oil in the next twelve months. The country will be producing more than 10 million barrels of crude oil every day. This is an important development….
Previous: On Friday the 19th of January, despite a price surge to 1.2296, trading on the euro/dollar pair closed down. The euro dropped against the dollar to 1.2214 before trading closed in Chicago. The euro’s decline was brought about by a rise in US bond yields as well as market participants awaiting the results of an…
Wall Street certainly didn’t have much in the way of negative thoughts with respect to the prospects for a federal government shut down last week. Even though White House Office of Management and Budget and interim Consumer Finance Protection Bureau director Mick Mulvaney gave a “between 50 and 60 percent” chance that the U.S. Congress…
