After a poor start in Asia, equities recovered. The MSCI Asia Pacific initially extended last week’s losses and fell to its lowest level since February 12 before recovering to finish near its highs, 0.4% above last week’s close. European markets followed suit. They did not have to take out last week’s lows. The Dow Jones Stoxx…
Traditional Markets Talk of a trade war between the two largest economies in the world has brought stocks to their knees at the end of last week. The powers that be have been working hard to convince the markets that the extent of the trade wars has been overplayed. So the hope is that even though Trump is…
Biohaven Pharmaceutical announced positive top-line results from both of its two Phase 3 clinical trials of rimegepant, an oral CGRP receptor antagonist for the acute treatment of migraine. In each trial, rimegepant met the co-primary efficacy endpoints of superiority to placebo, at two hours post-dose, on pain freedom and freedom from the most bothersome symptom….
USD/CAD extended its downside movement from 1.3124 to as low as 1.2823, facing a key support level at 1.2803. A breakdown below this level would suggest that the uptrend from 1.2247 (Jan 31 low) had completed at 1.3124 already, then deeper decline towards 1.2650 support could be seen. Near-term resistance is at 1.2948, a breakout of this…
Jerome Powell, the new Fed Chairman, made his debut last week. It was jarring to see a modest, reasonable, straight-talking person in that spot after 30 years of aliens from the planet Academic Finance who neither understood nor cared about how actual markets work. I was thinking about posting a short piece on this –…
Previous: On Friday the 23rd of March, trading on the euro closed up. The euro rose against the dollar to reach 1.2372. The catalyst for this movement was the greenback’s decline along with a retreat to safe haven assets (gold, yen, franc) on the back of an escalation in rhetoric over trade between the US and…
What a difference a week makes! Last week, we were on very firm ground in noting that President Trump’s proposed tariffs were having very little impact on stock prices, where we closed our weekly observations with the following comment: We’re making a point of noting the major international trade-related headlines, where U.S. President Trump’s planned tariffs are…
EUR/USD 4 hour The EUR/USD is testing the resistance trend line (red). A bullish break could start a potential wave 3 (blue) of 3 (purple) whereas a break below the support zone (green) could indicate a larger trend change. 1 hour The EUR/USD could be building An ABC correction (green) within wave 2 (blue). A…
Indian share markets are trading just above the dotted line in the noon session following amid mixed global markets. Consumer Durables stocks and bank stocks witness majority of the buying momentum while losses were largely seen in energy stocks and software stocks. The BSE Sensex is trading higher by 93 points and the NSE Nifty is trading up by 9 points. Meanwhile, the BSE Mid Cap index is trading…
Thoughts The stock market can fall a little more in the short term. New developments: odds of a trade war are decreasing. Not a long-term bearish factor for the stock market. Initial Claims increased last week but are still trending lower. A medium-long term bullish factor for the U.S. stock market. VIX is in backwardation….
