OIL After yesterday’s oil price rally, investors are in a wait and see mode as the OPEC+’s key virtual meeting approaches. It will be crucial for the group to reach a quick agreement to mitigate against the worst-case scenario of an enduring global glut, which was the result of the failure of the previous OPEC…
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What to watch US jobless claims: Another week of initial jobless claims data will be released on Thursday, after 10 million new people filed for unemployment in the US over the past two weeks. The consensus expectation, which last time was way below the mark, is for a figure of six million this week. Currently,…
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The current situation of elevated volatility is reflected very prominently on the chart here. Buying volume increased sharply in the second half of last week and price has now moved into overbought based on both the slow stochastic and Bollinger Bands. There are likely to be short-term opportunities in both directions this week, but buyers…
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GOLD The gold price fell yesterday as low as $1,570, breaking down the first support level of $1,590 in the process, on growing fears that central banks will buy much less gold and other precious metals in the next few years. Despite this quick descent and despite the strength of greenback seen in the last…
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Health names soar in Monday rally All three of the major US stock indices finished more than 3% up on Monday, with healthcare the best performing of the 11 sectors in the S&P 500. The sector gained 4.7%, driven by the healthcare technology and pharmaceutical sub-sectors, which gained 7.1% and 5.8% respectively. Hospital firm Universal…
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OIL Oil price is attempting a difficult rebound with WTI climbing back above $21 after sinking to a 17-year-low of $19.40 yesterday evening. Rumours about talks between Putin and Trump, will include discussions on the oil price, are giving some hope to the barrel amid a backdrop of its dramatic performance YTD that shows a…
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Key data points Bold indicates the most important releases for this symbol. Monday 30 March, 23.30 GMT: Japanese unemployment rate (February) - consensus 2.4%, previous 2.4% Monday 30 March, 23.30 GMT: Japanese annual retail sales (February) - consensus -1.2%, previous -0.4% Tuesday 31 March, 23.50 GMT: Tankan Large Manufacturers’ Index - consensus -10, previous 0…
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S&P 500: +6.2% Thursday, -18.6% YTD Dow Jones Industrial Average: +6.4% Thursday, -21% YTD Nasdaq Composite: +5.6% Thursday, -13.1% YTD FTSE climbs as government tacks on support for the self-employed Both the FTSE 100 and the FTSE 250 climbed higher on Thursday, although both still remain in a bear market. Yesterday, Chancellor Rishi Sunak added…
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Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for March 9, 2020. US stock futures hit their daily down limit of 5% and shares in Asia dived as the first shots were fired in an all-out global oil price war and waves of negative coronavirus news…
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ActivTrades’ Market Analysts prepared their daily commentary on traditional markets for March 9, 2020. This is not a trading advice. See details below: FOREX The euro is down more than 1% to the yen during early Monday trading in Europe. The flight to safety is obvious, with refuge assets recording gains following the deterioration of…
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