GOLD The financial environment has once again proven detrimental for gold as a mix of bearish ingredients have pulled the price down to $1,700. Indeed, the combination of a strong US dollar and expectation for rising yields, in conjunction with Joe Biden’s optimism on the vaccine rollout, have caused bullion to fall again with investors…
Read more
From a technical perspective, oil’s uptrend since last summer is clearly still active for now. Brent has failed to break below the 50 SMA from Bands, and there is currently no indication of overbought from either Bollinger Bands (50, 0, 2) or the slow stochastic (15, 5, 5). The key area on this chart for…
Read more
OIL The blockage of the Suez seems to be solved in the short term, which is positive news for the majority of financial assets, but not for oil. As a result, the barrel has started the new week in red as investors are less worried about supply. Focus now switches to the OPEC meeting, which…
Read more
The United States Attorney’s Office for the Easter District of New York announced this week that Instagram influencer “Jay Mazini”, whose real name is Jegara Igbara, has been charged with wire fraud. The charges were related to a Bitcoin scheme where the social media influencer is alleged to have persuaded his followers to send him…
Read more
EUROPEAN SHARES Stocks managed to edge slightly higher in Europe on Thursday, despite a bearish opening amid lingering macro uncertainty. Inflation worries, virus spikes and political tensions continue to pressure market sentiment this week while bullish investors increasingly struggle to find positive catalysts. Most stock traders are now trying to identify shares and sectors with…
Read more
EUROPEAN SHARES European markets extended yesterday’s losses by opening lower on Wednesday, amid a lingering risk-off mood. Jerome Powell attempts to play down the threat of unwanted inflation wasn’t enough to sustain investors’ appetite for riskier assets while renewed lockdowns in Europe amid spiking infections continue to pressure stocks. However, even if cyclical and energy…
Read more
From a technical point of view, gold’s downtrend is still active, with the 100 SMA having moved further below the 200 and a new low having been reached on 8 March. Now that there is no longer an oversold signal from either Bollinger Bands (50, 0, 2) or the slow stochastic (15, 5, 5) -…
Read more
EUROPEAN SHARES European shares opened lower on Tuesday, extending the bearish trend seen in Asia amid progress slowing in the fight against the pandemic. Today’s risk-off trading stance came after investors digested the prospect of an extended lockdown in Germany due to increasing virus cases in the region, which could significantly jeopardize the nascent economic…
Read more
White label technology provider and consulting firm, Qinox Tech, has just announced that the company upgraded its global currency rates data service through a service agreement with OANDA, an FCA-regulated international broker and data provider. According to the partnership agreement, Qinox Tech will provide currency solutions from OANDA. White-label brokers and other service buyers using Qinox Tech’s…
Read more
GOLD Although gold initially reacted positively to the FOMC’s decisions by spiking up to $1,750, those gains have been washed away by a fresh wave of dollar strength. While gold’s failure to hold onto the psychologically important level of $1,750 may raise alarm, the medium term outlook still looks supportive with a dovish Fed stating…
Read more