Gold is slightly higher today after the dollar fell from its weekly highs. The rise today is also associated with risk aversion as traders’ search for yield in alternative places. As you recall, the global financial markets are now on the edge as the world braces for a trade war. In the recent past, Trump…
Alibaba Group Holding Limited (NYSE: BABA, “Alibaba”) announced today that the company will acquire all outstanding shares that it does not already own in Ele.me, a leading online delivery and local services platform in China, in a transaction that implies the enterprise value of Ele.me at US$9.5 billion. Alibaba and its affiliate Ant Small and…
GBP/USD 4 hour The GBP/USD is testing the Fibonacci levels of the potential wave 4 (green) retracement. Price is a key support zone due to the 50% Fib, 1.40 round level, long-term moving average, and support trend line (blue). A bullish bounce could see price move up within the trend whereas a bearish break could…
USDCAD continued its sideways movement in a trading range between 1.2814 and 1.2948. The key resistance is at 1.2948, a breakout of this level would confirm that the downside movement from 1.3124 had completed at 1.2814 already, then next target would be at 1.3000, followed by 1.3124. Support is at 1.2803, a breakdown below this…
Gold prices settled at $1325.01 an ounce, suffering a loss of 1.67% over the holiday-shortened week but making a gain of 0.47% over the month. The key factor that weighted on the market was very much fears about more interest rate increases than expected this year. The uptick in volatility in global stock markets and…
Monday’s stock picks: Long Las Vegas Sands (LVS) Long Apache (APA) Short Hyatt Hotels (H)
In Trump’s “easy to win trade war” script, US farmers will suffer from China’s initial response. US farmers are in the crosshairs of China’s Trade Retaliations. Penalties range from 25% on American pork and eight other kinds of goods to 15% on fruit and 120 types of commodities. The Chinese Finance Ministry said in a statement…
Welcome to another review of the 4 major cryptocurrencies. So far my bearish view on all 4 and especially in ETH and XRP is proving to the point. Staying away or shorting them has been my view as no reversal sign or trend change confirmation has been issued yet. XRP/USD Ripple Price remains inside our…
Asian stocks opened in green following a strong performance by global equities last week. Japanese shares are higher as the Nikkei 225 gains 0.50%. The Shanghai Composite is trading up by 0.15%. Stock markets stateside were closed the previous session for Good Friday. Back home, India share markets opened the day on a firm note. The BSE Sensex is trading higher by…
WTI Crude Oil The WTI Crude Oil market went back and forth in electronic trading on Friday, as we continue to struggle a bit. The $64 level underneath should be supportive, and most certainly the uptrend line will be as well. I believe that the area underneath should end up being massively supportive, and I…
