Mercedes-Benz is out to prove that a less costly and smaller sport-utility vehicle can still deliver powerful driving and loads of technology. To underscore the point, Mercedes this week is unveiling the GLA, its most compact and cheapest priced SUV, in the rugged terrain around Granada in southern Spain. The crossover, mixing features of a […]
U.S. stocks sagged down after the best four-day surge in a year for the Standard & Poor’s 500 Index. Treasuries pulled back amid comments from Federal Reserve officials signaling continued stimulus trims, while Chinese data triggered an advance in copper. The S&P 500 retreated less than 0.1 percent at 4 p.m. in New York after […]
February 13th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist. European markets have opened lower today, as investors preferred to book profits following a week-long rally and ahead of earnings release from several big European companies. Earlier today, the Royal Institution of Chartered Surveyors (RICS) revealed that the house price balance index in the […]
Mark Carney’s press conference and the Bank’s quarterly inflation report were the key events of the week for the pound. They both certainly lived up to expectations as the currency rallied strongly on the back of new forecasts made in the report and Mark Carney’s appearance. Going into the conference, the key question was what […]
Intraday technical levels: R3: 1.3734 R2: 1.3693 R1: 1.3643 PP: 1.3602 S1: 1.3552 S2: 1.3511 S3: 1.3461 Trading recommendations: The market opened below the daily resistance today. Also, it should be noted that the resistance is set at the level of 1.3734 as strong level on February 13-14, 2014. Additionally, the EUR/USD pair hit the […]
Australian employment disappoints again Morning Report: 08.30 London • This morning, financial markets are on the back foot as US markets lost momentum overnight. The US dollar index is once again slipping lower as Yellen’s commitment to quantitative easing sinks in. • Elsewhere, the Australian dollar is under isolated pressure with the AUD/JPY down 1.01% […]
World’s largest PC maker Lenovo Group Ltd. said its earnings escalated to 30% to $265m (or £159m) in its 3rd quarter net profit on higher sales of laptops and mobile devices. The Chinese company’s revenues bounced by 15% to $10.8 billion, which is led by China’s sales. However, Lenovo warned its future profit would be negatively impacted by […]
Prices of natural gas futures banged higher on Thursday before the data that might show a weekly draw down for the fuel, while crude-oil futures moved back from the $100 per barrel level. In electronic trading, March natural gas increased 10 cents or 2%, to $4.91 per million British thermal units. The move came prior to the scheduled release […]
The Asian stocks plunged, following the regional gauge index advanced on the sixth day yesterday to cap its longest winning streak this year. Asahi Group Holdings Ltd. slipped 3.2% in Tokyo after Japan’s second largest beer maker’s profit forecast failed to meet estimates. Tokyo Tatemono Co. slid 13% after the developer postulated a full year operating profit below analyst […]
The US stocks edged lower on Wednesday, ending its four-day winning streak for the Dow industrials as the last week’s rebound ran out of steam. The Dow Jones Industrial Average missed 30.83 points or 0.2%, to 15963.94. The S&P 500 dived 0.49 point or less than 0.1%, to 1819.26. The Nasdaq Composite Index moved relatively better, profiting 10.24 points […]
EURGBP is in a downward channel since falling from the July 2013 high (0.8767) to the January low (0.8167). The pair has been hovering just above this low for the past three weeks and any upside moves have met resistance provided by the 23.6% Fibonacci retracement level of the July-January down-leg. The upper channel line […]
Google continues to fascinate consumers and investors around the world as a truly one of a kind company. Here’s a short video we made about it: Click to buy Google stock What are your thoughts about Google and Google’s stock? Have your say in the comments! The post 30 seconds on Google appeared first […]
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The Australian dollar tumbled across the board following weak jobs data. The Australian economy lost 3,700 jobs in January, which came on top of a slight downward revision in December’s figures. This resulted in raising the unemployment rate to the highest level since July 2003, at 6%. The data disappointed economists who expected a rebound […]
Forex trading caused the USD/JPY to rise modestly on Feb. 11, after global market participants reacted to the testimony that Janet Yellen provided when speaking with Washington lawmakers. The greenback rose to as much as 102.71 yen during the session, according to Reuters. This figure compared to the exchange rate of 102.33 that was obtained […]
When the European market opens, some economic news will be released such as ECB Monthly Bulletin, German Final CPI m/m.The US will release the economic data too such as the US-30-y Bond Auction, US-Natural Gas Storage, US-Business Inventories m/m, US-Business Inventories m/m, US-Unemployment Claims, US-Retail Sales m/m, US-Core Retail Sales m/m, so amid the reports, […]
In Asia, Japan will release the CGPI y/y and the US will release some economic data such as US-30-y Bond Auction, US-Natural Gas Storage, US-Business Inventories m/m, US-Business Inventories m/m, US-Unemployment Claims, US-Retail Sales m/m, US-Core Retail Sales m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, […]
Technical outlook and chart setups: 1. The EUR/JPY reversed from expected levels around 140.00, respecting the falling trend line resistance. The short positions initiated earlier could be held for further downside expectations. Risk remains at 142.00. 2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are spread through 134.00, 131.00 and […]
Technical outlook and chart setups: 1. The GBP/CHF rose past the trading range and broke higher yesterday. Trading at around 1.4950 levels at the moment, the setup still favors bears to take control back. As seen here, the pair has retraced up to 0.618 fibonacci resistance at 1.4950. It is expected to reverse from here […]
USDJPY The pair went through a correction after a tremendous rally towards the 105 levels from June’s lows. The price was holding the 38.2 fib level and consolidating for three consecutive days, then started moving higher again. In the daily and hourly charts RSI gave a buy signal. But the price is facing resistance near […]
We are recommending a buy call in this pair from January. It made a high at the level 0.9156 and started correcting. In the daily chart, RSI favour longs. Continuously, the pair was holding the 0.89 levels. It forms a good base around that levels. In Asia’s trading session the pair is trading at the […]
EUR/USD: The recent bullish signal on this pair has been put in serious jeopardy, but the Bullish Confirmation Pattern is not over yet. The price needs to maintain its presence below the support line at 1.3550 before it can be said that the bullish signal is over. It is very much likely for the pair […]
Daily chart: The USDX continues forming a higher low pattern below the 200 SMA. During yesterday’s session, the USDX made no definitive trend movements in general, since the USDX remains above the support level of 80.62. Recall that if the USDX manages to break that level, it would be expected to drop to the level […]
Daily chart: The GBP/USD had a bullish momentum that has led it to consolidate above the support level of 1.6540. Now, it is very likely that this pair will begin to form a lower high pattern to continue rising as the bullish trend has been quite lateralized this week. For now, we recommend caution when […]
Daily pivot point: 0.9032 Overview: The AUD/USD pair closed at the price of 0.9030. Also, the price has been above the ratio of 50% Fibonacci retracement levels for two days. Equally important, the market showed imperturbability and extended further to as high as 0.9066 yesterday. Consequently, it should be noted that the price has formed […]
Overview: The GBP/USD pair movement will be continued directly from the level of 1.6483 (61.8% of Fibonacci retracement levels) in H1 chart. Moreover, this level was confirmed by the bullish market yesterday. Additionally, the price of the GBP/USD pair has been showing an upward trend at the same price which represents the weekly resistance 1. […]
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The USD/CAD continued its downward spiral one day after the Canadian government announced its federal budget. The budget provided no immediate relief for the Canadian dollar, which has declined more than 9% over the past 12 months. The North American pair has declined nearly three-quarters of a percent over the past five sessions, as the […]
The EUR/GBP plunged in the European session after the Bank of England’s quarterly Inflation Report said the UK economy will expand 3.4% in 2014, much faster than the 2.8% rate forecast in November. This is expected to push employment below the 7% threshold sooner than expected. However, the BOE is expected to keep monetary policy […]
The EUR/USD pair fell sharply after Eurozone industrial production data failed to live up to forecasts. Meanwhile, ongoing uncertainty concerning Eurozone inflation also weighed on the pair ahead of a keynote speech from European Central Bank President Mario Draghi. Industrial output in the Eurozone expanded at an annualized rate of 0.5% in December, well below […]
