Global equities on Wall Street experienced a mixed session following the Thanksgiving holiday, heading for the most significant one-month rally since November 2020. MSCI's global shares index slightly eased but was still on track for an 8.5% monthly gain, fueled by growing investor confidence that U.S. interest rates...
Market’s Euphoria Keeps Going Despite a Lack of New Stimulus
2020-10-07 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.
XAU/USD: Gold stands below 38.2% retracement area and seems that after some correction moves higher.
EU Market View
US stocks slumped after US President Trump announced that he is to walk away from COVID relief talks until after the election. Looking ahead, highlights from macroeconomic calendar include German Industrial Output, DoEs, FOMC Minutes, ECB's Lagarde, Fed's Williams, Kashkari, Evans, supply from UK, Germany. US House Democrats stated that Facebook (FB), Amazon (AMZN), Alphabet (GOOG), Apple (AAPL) enjoy ‘monopoly power’ and recommended big changes.
EU Key Point
- Germany August industrial production -0.2% vs +1.5% m/m expected
- US futures creep a little higher ahead of European trading
- Germany reports 2,828 new coronavirus cases, another 16 deaths in latest update
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.
Bitcoin's price remains stagnant despite the Fed's slightly less hawkish tone. In contrast, Bitcoin has outperformed other assets, doubling in price from $16K to nearly $38K this year. Improved fundamentals, including the resolution of Binance concerns...
Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means - time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops
Gold prices, reaching the highest since May 5, are consolidating as traders await the US PCE Price Index, a key inflation indicator. The upcoming data could impact the Fed's policy, influencing the demand for the US Dollar and providing direction for gold. The Greenback sees some repositioning, recovering modestly ahead of the data risk.