2020-11-30 • Updated
CHF/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.
XAU/USD: Gold consolidates below 23.6% retracement level. It seems that bulls have lost control from bears’ pressure.
Asian equity markets began the week mixed amid tentativeness heading into month-end and upcoming key risk events. OPEC+ talks on Sunday failed to reach an agreement on an output cut extension. Looking ahead, highlights from macroeconomic calendar include regional and national German CPIs, US Chicago PMI, OPEC meeting, ECB's Lagarde and BoE's Tenreyro speeches. The idea that a potential Treasury Secretary (Janet) Yellen and Fed chair Powell could work together to shape and coordinate super easy monetary policy and massive fiscal stimulus that could drive a rapid post pandemic recovery saw the dollar under pressure.
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
Welcome to October, the tenth month of 2023. For this installment of What to Trade, I have handpicked a few of my favorite trade ideas for the month. Let’s go over a few of them.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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