Blogs

<p>Few would argue that 2020 has been a good year for oil after the market turmoil sparked by the coronavirus crisis sent WTI prices crashing into negative territory for the first time in the US benchmark’s history. But just as the unexplainable recovery of global equities, oil is looking bullish once again, at least in […]

<p>The US 500 cash index has been retreating over the last few days, after it found strong obstacle at the 15-week high of 3,233. The price has just breached the red Tenkan-sen line and may find support at the 200-day simple moving average (SMA), currently at 3,019, ahead of the 2,986 support, being the 23.6% […]

<p>Stock market gains are slowly getting wiped out as the second coronavirus wave hits the US. New Mexico, Oregon, Florida, Texas, Arizona are having large increases in new coronavirus cases. As the overall cases rise above 2 million, Texas had its highest one-day infection total, Florida’s weekly cases jump to highest level, California shows

<p>WTI oil stands at the back foot on Thursday and is trading around $2.5 lower in early US session compared to opening levels. Fresh weakness threatens to break below three-day congestion under psychological $40 barrier, after initial attack failed. Larger bulls are running out of steam, as pullback was signaled by overbought daily studies a

<p>The S&P 500 Futures  are on the downside after the Federal Reserve hinted at keeping interest rates near zero through 2022. At the same time, the central bank said it expects the U.S. economy to contract by 6.5% this year and rebound 5.0% in 2021. Later today Producer Price Index (+0.1% on month in May […]

<p>So, the Fed was as dovish as you would expect, and the stock markets initially rallied before dropping in overnight trading after Jay Powell dashed hopes for a V-shaped recovery. In London, travel stocks got a battering this morning with Carnival down about 9% at the bottom of the FTSE amid concerns over a new […]

<p>A flurry of UK data including GDP numbers for April will hit the markets at 06:00 GMT on Friday, and forecasts point to abysmal readings. Yet, economic data hardly move the markets anymore, so the pound’s performance will likely be shaped by a combination of Brexit news and global risk sentiment. The risks surrounding the […]

<p>USDCHF is set to close deep in the red sea this week following the sharp pullback off the 0.9625 level. The bears are currently ready to pierce the 0.9400 number and open the way towards the 0.9320 support, but some caution should be warranted as the RSI is entering the oversold area, suggesting that negative […]

<p>Notes/Observations Concerns over a second wave of coronavirus in the US (confirmed cases tops the 2M mark (pick up in cases in LA county and Texas and other states; infections rise after reopening) Fed recently warned that of a slow economic recovery from the coronavirus pandemic. Asia: Chinese state-owned companies said to have bought at

<p>Silver has been appreciating against the US Dollar since the end of March. The XAG/USD exchange rate has already exceeded the 17.00 level. It is likely that some upside potential could continue to prevail in the market, as the exchange rate is supported by the 55-, 100– and 200-hour moving averages. In this case the […]