
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.
2020-12-17 • Updated
Gold crossed the December highs of 1 875. By doing so, it entered the zone of two-month resistance reversing the losses of November. To complete the pattern, it would need to reach 1 900. That will likely happen in the mid-term, however, it is strongly advised to factor in the possibility of a downward retrace to 1 850 before or the area above it before an upswing takes the gold price to 1 900.
Therefore, tactically, it is advised that you wait and watch so far. The current bullish rally has been pretty powerful and may exhaust itself at any moment. When that happens, gold may into either a flattening period or retrace downward. A correction to the zone of 1 850 – 1 860 seems more likely. If that happens, that will be the recommended moment to enter the market.
Now, strategically, the channel 1 875 – 1 900 is the upper frontier of the five-month downtrend gold has been in since August. Most of the time, it has been trading below the primary resistance. However, the October high of 1 960 created a reference point to believe that there may be a secondary resistance – which is where the gold price may be aiming at. In any case, that just adds momentum to the potential of a bearish reversal: crossing the five-month resistance zone requires some effort, and even if 1 900 is reached in one shot, it will likely send the price downwards before it comes back up again.
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.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Are you aware of the recent crackdown by the SEC on major cryptocurrency exchanges, Binance US and Coinbase? Surprisingly, savvy Bitcoin traders seem unfazed, as options-based implied volatility metrics indicate. It appears that the lawsuits were anticipated and already factored into the market. Implied volatility reflects investors' expectations of price turbulence, but little evidence of heightened concern exists.
Let's dive into the recent debt ceiling saga in the US and its implications for the economy, deficit, and inflation. The good news is that a new debt deal is on the horizon, saving us from a potential default on June 5. Phew! This deal will impact the economy by providing stability and avoiding a financial catastrophe.
Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.