Nasdaq’s CEO Robert Greifeld on Thursday said Nasdaq Inc. sees a very strong interest from Chinese firms for U.S. listings, even though many mainland firms recently delist as they look for higher valuations at home. Greifeld said three Chinese companies have already listed on Nasdaq so far this year, and said “anything approaching double digits […]
Suggestions that a production cap will be agreed upon at OPEC’s biannual meeting in Vienna was rejected by Iran’s Oil Minister. Iran Minister Bijan Zanganeh stated that limiting production would have ‘no benefit’ to countries that have just been freed from sanctions.The country is known to be an advocate for a national quota system. He […]
China’s vice finance minister urged the U.S. Federal Reserve on Thursday to strengthen its communication with China and international financial markets with regards to its interest rate decisions. The Fed will decide during its June or policy meetings whether interest rates will be raised, which could have big implications on the global economy. Sequentially China […]
In Asia, Japan will release the Consumer Confidence, 10-y Bond Auction, and Monetary Base y/y. The US will release some economic data such as the Crude Oil Inventories, Natural Gas Storage, FOMC Member Powell Speech, Unemployment Claims, Challenger Job Cuts y/y, and ADP Non-Farm Employment Change. So there is a probability the USD/JPY will move […]
Wave summary: Despite all the disappointments, we remain optimistic in regard to this currency pair in the longer term. However, for the short term it looks as more corrective weakness should be seen towards 1.6248 before the corrective decline from 1.6931 is over. From 1.6248 or upon a break above 1.6487, renewed upside pressure is […]
Technical outlook and chart setups: Silver is seen to be trading at $15.97 levels for now after bouncing off $15.81 levels yesterday. The metal now seems to have formed an intermediary low at $15.81 levels and is looking to rally from here. Please note that the metal has bounced off the fibonacci support/convergence around $15.80/16.00 […]
Wave summary: Our view remain bullish as long as the low at 121.46 stays untouched. To indicate that a corrective low has been seen at 121.85, a break above minor resistance at 122.83 will be needed, while a break above resistance at 123.32 confirms the low and that a new impulsive rally is developing for […]
Technical outlook and chart setups: Gold is seen to be trading at $1,214.00/15.00 levels at this moment. It may be looking to print one last low around $1,197.00 levels before turning bullish. The metal is looking to produce a countertrend rally after forming a base around $1,197.00 levels. On the flip side, the metal may […]
EUR/USD: Since Monday till now, the EUR/USD has been making some bullish attempt, which, however, pales into insignificance when compared to the current bearish outlook in the market. The bulls have gained 90 pips so far this week, but unless the price moves above the resistance line at 1.1300, the shallow rally would be taken […]
When the European market opens, some economic news will be released such as the Minimum Bid Rate, ECB Press Conference, French 10-y Bond Auction, and Spanish Unemployment Change. The US will release economic data too such as the Crude Oil Inventories, Natural Gas Storage, FOMC Member Powell Speech, Unemployment Claims, Challenger Job Cuts y/y, and […]
Overview: According to the previous events, the NZD/USD pair is still moving between the levels of 0.6773 and 0.6850. Overall, we still prefer the bullish scenario as long as the price is above the level of 0.6773. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that […]
Overview: The USD/CHF pair continues to move downwards from the areas of 0.9954 and 0.9900. Yesterday, the pair dropped from the level of 0.9954 to 0.9860. Today, resistance is seen at the levels of 0.9954 and 0.9900. So, we expect the price to set below the strong resistance at the levels of 0.9955 and 0.9900; […]
USDX is showing weakness on a short-term basis, as it’s currently testing the 200 SMA price zone on the H1 chart. However, the next strong support can be found around the 95.22 level, which acted as a barrier for sellers during the May 23th session. If the greenback is able to resume the bullish bias, […]
GBP/USD had a very weak session yesterday after posting new lows. Currently it’s testing the support level of 1.4408. A rebound can be expected to re-test the resistance zone of 1.4464, but all the indicators on the H1 chart are pointing to the downside, as the 200 SMA is supporting that bearish scenario. A breakout […]
A Bank of Japan official stressed introducing quantitative easing program and negative interest rate won’t be sustainable in the long stretch. BOJ board member Takehiro Sato reiterated levying negative rate does not benefit the economy, challenging the upbeat remarks of Governor Haruhiko Kuroda. He added the measure counters the central bank’s huge asset purchase program. […]
The United States government warned that foreign banks doing business with North Korea will face U.S. sanctions or fines. The insular communist country’s series of ambitious nuclear arms tests that started this January raised accusations of money laundering activities to fund its lucrative nuclear testing, prompting the U.S. administration to call North Korea a “primary […]
A stronger yen pulled shed Japanese stocks down, trailing its largest one-day decline in a month, while other markets remained almost toned-down before the scheduled gathering of the European Central Bank and the Organization of the Petroleum Exporting Countries this week. OPEC is not awaited to announce oil production curb. But the ECB is expected […]
Apple Inc. has marked its comeback in the Australian bond market with a new two-part note offering. People privy to the matter disclosed the tech giant is providing senior unsecured fixed-rate bonds maturing in June 2020 with a yield premium of around 0.85% higher than the swap rate. Sources added the iPhone maker is also […]
We have updated the the monthly asset class ETF value strategy weights and associated performance data at Value Strategy. Related Posts:Video market update for April 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Video market update for April 23, 2024 April 23, 2024 Potential for the breakout on the EUR/USD…The material […]
International Business Times VideoCan anyone solve the UK’s growing housing crisis? The new Mayor of London, Sadiq Khan, has a huge challenge on his hands now that he is settled at City Hall. He promised during his election to make 50% of all new homes in London “genuinely affordable”.This is how bad matters have become in […]
On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. The 0.6550 level was broken a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. During February’s consolidations, the price zone of 0.6750-0.6840 constituted […]
On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation range) enhanced the bullish side of the market. Hence a bullish visit to the resistance at 1.4120 (Fibonacci Expansion 100%) occurred. Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 (141.4% Fibonacci expansion) where an evident bearish […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470) which allowed further bearish decline to occur. The prominent demand level located at 1.3845 (historical bottom that goes back to March […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms had been previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level of 1.0570 which had been previously […]
The home page and “Value Strategy” now show preliminary asset class ETF value strategy positions for June 2016. There may be small shifts in allocations based on final data. Related Posts:Video market update for April 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Video market update for April 23, 2024 April 23, 2024 Potential for […]
Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6325 in a high volume. According to the 30M time frame, I found strong downward pressure in a high volume. Be careful when buying and watch for selling opportunities. The price failed to test resistance at the level of 1.6430, which is sign […]
Since our previous analysis, gold has been trading upwards. The price tested the level of $1,219.70 in an average volume. According to the 30M time frame, I found an upward channel. We can observe successful testing of the upward diagonal, which is a sign that selling looks risky. I found a narrow spread of the […]
The United Kingdom would experience a large economic impact in the event British people decide to exit the European Union, said France-based Organisation for Economic Cooperation and Development. The OECD noted the country’s gross domestic product could decline by 3%, while GDP in other nations within the region would drop by 1%. Releasing its economic […]
Germany has supported recommendations by a special panel to create a fund financing its exit from nuclear energy. The Economics Ministry mentioned the German government will draft a measure on establishing the fund, mandating energy firms to contribute to the expense of leaving and maintaining nuclear waste. The committee suggested companies should give around €23.3 […]
Good morning!I continued working throughout yesterday afternoon. Prompted by a reader, I had a look at software group Kainos (LON:KNOS). What a fascinating company! If you missed that section, click here to revisit yesterday’s complete SCVR.The organic growth at Kainos from 2013-2016 has been remarkable. Thank you to the reader who pointed out there were many, generally […]
