With price now within the value area between the 100 and 200 SMAs and strongly oversold based on the slow stochastic, a pause seems likely in the runup to tomorrow’s meeting of the BoC. The target for sellers in the medium term seems to be last month’s lows around C$1.25, while to the upside the…
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However, this situation may be short-lived for EU stocks as investors have been disappointed by today’s Spanish surging CPI print (8.5%), which dents expectation of a peak in European inflation. The ECB is now increasingly under pressure to act against rising prices in the region, and investors are likely to pay close attention to Christine…
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European Shares European markets followed the global neutral trend on Thursday following a mixed opening, as traders digest the latest macro developments. Investors welcomed the minutes of the last FOMC meeting yesterday, especially after it indicated the Fed could be less aggressive than initially expected, by changing the pace of its current hawkish approach if…
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Gold Gold prices hedged down during early Wednesday trading; a move dictated by a strengthening US dollar. The precious metal price action has, to a large extent, been determined by its inverted correlation with the greenback, and today’s picture is a perfect snapshot of that dynamic. After a losing streak that lasted for several sessions,…
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Gold Gold prices continue to recover from the multi-month lows touched earlier in May. The non-yielding precious metal is benefiting from the drop in treasury yields together with some dollar weakness - with which it has an inverted price correlation. The stabilization of treasury yields and the dollar, which have retreated from peaks reached in…
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More clues about those market drivers, especially regarding the economic outlook, may be provided this week as traders await major data such as global PMIs, US new home sales, GDP and jobless claims alongside another batch of speeches from FED, ECB and BoE speakers. Pierre Veyret– Technical analyst, ActivTrades Disclaimer: opinions are personal to the…
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European Shares Markets surged higher everywhere from Asian shares to US Futures contracts on Friday, mostly led by Utilities and the Energy sector, as investors welcomed reassuring major monetary news from Beijing. The “Risk-on” trading mood has registered a solid rebound during the last couple of hours as traders cheered the significantly dovish monetary decision…
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European Shares Share markets slid lower on Thursday, extending the drop registered on US stocks at the end of the trading session yesterday, as fear trading dominates. Despite the recent optimism, investor focus is now back on inflation and its impact on consumer and household spending, company performances and, more generally, growth. In addition, the…
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European Shares Stocks were little changed in Europe on Wednesday - despite Asian shares extending yesterday’s gains by closing in the green overnight - as market operators brace for a busy day. Most EU benchmarks trade towards their opening price, with utilities paring losses from the real estate sector, marking a pause in the current…
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There seems to be limited demand for now to push above the main resistance, the 100 SMA, but a breakout above here could see a test of the 200 SMA and the 61.8% area of the weekly Fibonacci fan. ATR’s large rise since the end of March, from about R0.2 to nearly R0.5, would traditionally…
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