From a technical point of view, a clear move back above $80 seems to be unlikely as of now given this area’s importance as a psychological resistance and buying saturation based on the slow stochastic. ATR of around $2.20 is now about half the peak in December, though, so a retest of $80 seems very…
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Even before large losses at the end of last week, it already seemed fairly unlikely that the cartel would significantly boost production. With most members seemingly content with prices of Brent around $75-85 and various countries including Japan having released their strategic reserves of crude, there had been no clear calls among OPEC for increasing…
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What to watch Chewy: Online pet food and product retailer Chewy’s share price is up by more than 150% in 2020, as consumers stuck at home have turned to online solutions. Pet sales and adoptions have also surged this year during US lockdown restrictions. The firm will deliver its third-quarter earnings on Tuesday, where investors…
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What to watch Coupa Software: California-based tech firm Coupa Software offers business spending management services, which provide companies with visibility into and control over their operations. The firm’s share price has soared in 2020, more than doubling. Coupa’s cloud-based products fit well into the current mass work-from-home environment. Companies facing economic difficulties who want to…
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What to watch US jobs report: All eyes will be on November’s job report from the Bureau of Labor Statistics on Friday, investors will be watching to see whether surging Covid-19 case numbers in the US have damaged the labour market. In October, jobs growth was better than expected, and the unemployment rate fell to…
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What to watch Dollar General: Discount retailer Dollar General has added almost 40% to its share price in 2020, taking its market cap past the $50bn mark. Along with other discount retailers, Dollar General’s gains this year have been driven by consumers stocking up on staples, and turning to cheaper options in the face of…
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GOLD The gold price is little changed, continuing the slow dance seen in the last few days around $1,950. Bullion is waiting for new market drivers, as investors seem to have fully priced in the current scenario and the hyper-expansive monetary policies of central banks. Carlo Alberto De Casa – Chief analyst, ActivTrades OIL This week’s oil…
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Mazrouei continued: Are we going to have a second wave or not? I hope not. I hope we’re not going to limit travel and we will go back to at least a consumption level that is reasonable. Now we are back to the consumption level of 2013, believe it or not. Mazrouei did not define…
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Key data points Tuesday 14 April (all day): G7’s video meeting Wednesday 15 April, 12.30 GMT: American monthly retail sales (March) - consensus -7%, previous -0.5% Thursday 16 April, 12.30 GMT: American initial jobless claims (11 Apr) - consensus 4.7 million, previous 6.6 million Brent, four-hour There hasn’t been any ongoing direction for crude oil…
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OIL Despite the world’s oil producers agreeing to a massive cut of 9.7 million barrels per day, the oil price was unable to hold onto its initial gains as investors are still expecting there to be a global oversupply for the next few months. After a positive gap when markets opened, WTI has fallen again…
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