Gold prices traded higher as the markets’ mood soured in late North American trade on Friday, sending capital fleeing to the relative safety of Treasury bonds and depressing yields. That offered a familiar lift to non-interest-bearing assets epitomized by the yellow metal. The move may have marked de-risking before the weekend as markets weighed tensions in Syria and…
Monday’s stock picks: Long Seagate Technology (STX) Long Plains Group (PAGP) Short Weibo (WB)
USDCAD stays below a falling trend line on its 4-hour chart and remains in the downtrend from 1.2943. As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 1.2450 area. Near-term resistance is at 1.2625, only a break of this level…
The second week of April 2018 proved to be just another in a series of noisy weeks in 2018 for the U.S. stock market. Geopolitics, trade and good old fashioned political noise filled the week that was for the S&P 500 (Index: SPX), where the ultimate outcome for the week was for the index to close…
S&P 500 The S&P 500 initially tried to rally during the trading session on Friday, reaching towards the 2680 handle. The market turned back around to form a bit of a negative candle, as US banks struggled. Ultimately, this is a market that I think continues to deal with the 2680 level as resistance, and…
Following futures positions of non-commercials are as of April 10, 2018. 10-year note: Currently net short 330.6k, down 44.7k. Annual core CPI rose stronger-than-expected 2.12 percent in March.This was the first year-over-year reading with a two handle in a year. Nonetheless, core PCE – the Fed’s favorite measure of consumer inflation – is not as…
Indian stock markets rose for a seventh straight session on Friday, their longest winning streak since November 2017. The gains came on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank. Sentiment was also upbeat after retail inflation eased to a five-month low in March, supporting views that monetary policy…
This weekend millions of Americans and/or their accountants are preparing to file income tax returns. Tax day is an annual event as significant as the Fourth of July – though far less fun. Photo: Getty Images My friends outside the US – and I have many – observe our ordeal with a combination of amusement…
After the airstrikes on Syria early on Saturday, the situation seems contained. There are growing chances of a relief rally, positive for the USD/JPY. For the USD/CAD, the event is a double-edged sword, but the Canadian Dollar could come out on top. Early on Saturday morning, US President Donald Trump announced a coordinated missile and airstrike…
Markets had started Friday above the marked consolidations I had drawn on the charts but subsequently ended the week still inside these trading ranges. As a two-day pattern, Friday’s close finished as a bearish engulfing pattern across markets which means I’ll be looking for a break of newly drawn ascending support (of the last 8…
