OIL Oil remains in a positive vein with the “long only” mood of the last few weeks continuing to dominate. WTI is now trading above $63, exactly $100 more than the historical low reached 10 months ago, when the price collapsed to -$37. The rally is linked to the risk on scenario and positive sentiment…
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EUROPEAN SHARES Most European equities continued their consolidation on Wednesday in contrast to extended losses in the Asian session overnight. Fed Chairman Jerome Powell tried to “reassure” investors yesterday saying the economic recovery still has a long way to go with dovish policies remaining in place as long as necessary. Investors don’t seem to be…
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EUROPEAN SHARES European equities opened mixed on Tuesday, with French and Italian shares trading slightly higher while benchmarks from Germany, Denmark and the Netherlands underperformed. The “wait and see” trading stance continues in investors’ minds ahead of key data from both Europe and the US today with inflation levels at the centre of every economic…
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The obvious pivot point on this chart is the 100% weekly Fibonacci retracement area, i.e. complete retracement of all the euro’s gains in March 2020. A clear breakout below $1.655 might trigger another leg down over the next few weeks. On the other hand, with price having been generally oversold or close to it for…
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GOLD The resurgence of inflation expectations, a rally in treasury yields and the possibility of seeing a stronger dollar in the next few months all hit the gold price in the last few trading sessions. In early Monday trading, we are seeing a different movie, as bullion is trying to rebound from the fresh 7-month-low achieved…
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GOLD Gold: double or quits? This proposition well represents the current situation for the yellow metal. Bullion just reached a new seven-month low at $1,760, before showing some rebound impulse to $1,775. We are now seeing an interesting challenge between the long term bullish trend and the short term bearish movement, which seems to be…
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Executed over several days in the first week of February this year in order to limit market slippage, Tesla made a $1.5 billion bitcoin purchase which has now been revealed by Block to have been brokered by the cryptocurrency platform, Coinbase. Up until this announcement it had been unclear who had facilitated the significant purchase,…
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GOLD The weather remains sunny on stock markets, but not for gold. Indeed, after an excellent 2020, we are seeing a little storm on bullion, hit by the recovery of US yields and by the strength of the optimism that is dominating share trading. After five days in a row in red, we are seeing…
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GOLD Gold has fallen below $1,800 with the price suffering as US yields surge to pre-crisis levels. Thanks to the economic stimulus doled out by the Federal Reserve, inflation could be back, as highlighted by James Bullard, a member of the FOMC. This could mean higher yields and a stronger US dollar, an unhelpful mix…
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GOLD Despite the weakness of the greenback, bullion is showing little strength and is continuing a slow dance around $1,820/oz. This lack of energy in the rebound is due to the permanent "risk on" scenario dominating stock markets. As a result, the price was unable to rebound and attack the first significant resistance at $1,845-$1,850.…
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