Nasdaq index is skyrocketing amid split congress, Uber and Lyft soared
The tech-heavy Nasdaq index remained the best performers in post-election trading as shares of big tech stocks rose sharply on prospects of dividend legislative assembly. Traders assume the clear majority for any side could make it easier for them to amend tech and social media laws. Besides Nasdaq, other stock…
US Dollar Trades Below 93 Mark Despite Steep Equities Selloff
US dollar continues to trade below 93 levels despite the massive stock price selloff on concerns stemming from record growth in daily virus infections. US and European stock markets lodged the largest daily decline in the past few months on Monday and extended that downtrend in Tuesday trading.
Technical Weekly Look Ahead
This report will discuss potential trading set ups this week in addition to updating previous trade ideas Summary of Trade Ideas GBP/USD – Short Bias NZD/CHF – Long Bias CHF/JPY – Short Bias GBP/USD As illustrated above, GBP/USD is trading in a downtrend structure, this is evidenced by a series…
The Era of Oil Demand Growth Is Over According To BP
BP Plc said that the era of Oil demand growth is now over , in a report released on Monday. The most bullish scenario they had in terms of forward looking Oil output has been visualised below (Chart from Bloomberg, data from BP). Having a looking between 2017-2025, demand forecasts…
European Stocks Extends Gains into New Week; Here’s What to Expect
European stocks are in green after posting their largest weekly gains since early last month as STOXX Europe 600 Index jumped 1.67% last week. Easing social distancing policies along with robust economic data has been adding to investor's sentiments.
Gold Wedge at APEX for Breakout!
Gold (XAU/USD) has been compressing into a wedge directly above the previous all time high, which was broken after 9 years in August 2020. The APEX of the wedge is fast approaching as traders and investors patiently await for the continuation break out on gold. Wedge patterns are generally a…
Key Events To Watch Out For This Week
Monday GBP ♦ UK Parliamentary Vote on Brexit – TBC UK parliament are set to debate the Internal Market bill, a move that if proceeded with, would breach the divorce Brexit agreement signed last year. This bill would allow companies to trade ‘unhindered’ across the UK , clearly breaking the…
Gold To Keep Pushing Higher ?
Falling Equity Prices Equities have begun falling as markets begin to reverse price sky high valuations against realised assets and realistics growth expectations, coupled with election risks. Falling equity prices would encourage central banks to print more money (I.e Quantitative Easing), in order to support markets and the economy. Quantitative…
What's Next For The Canadian Dollar ?
The Canadian dollar is at a critical point right now, as illustrated in the CAD index chart below. The CAD is trading on the lower support of an upwards rising channel structure, and although the CAD has gained momentum from April onward, it is looking increasingly weak. Note that previously…
Analysing US Economic Activity – Forward Looking Inflation Analysis
This article will briefly look at financial indicators that illustrate the current and forward looking view of the U.S. economy. Expected Inflation Levels Image Source Credit: Scott Grannis Expected inflation levels can be calculated by taking the difference between Treasuries (Red Line) and Treasury Inflation protected securities (Blue Line) ,…