The U.S. stock market indexes were mixed between 0.0% and +0.4% on Friday, as investors hesitated following recent run-up. The S&P 500 index slightly extended its short-term uptrend after breaking above 2,700 mark on Thursday. It currently trades 5.1% below January 26 record high of 2,872.87. The Dow Jones Industrial Average gained 0.4%, and the technology Nasdaq…
ECB member and Bank of France governor, Francois Villeroy de Galhau, hit the wires this morning insisting that despite sluggish inflation, the governing council is set to stick with the plan and end QE over the near-term, citing September or December as the likely cut off point, and warning that the first rate hike could…
The EUR/USD is extending its recovery after hitting new lows for the year. The pair nears $1.2000 but faces a dense cluster of resistance. The Technical Confluences Indicator shows that the pair faces congestion of resistance lines around $1.1983. This includes the one-week high, the Bolinger-Band one-hour Upper (Stdv. 2.2), the BB 15m-Upper, and the Pivot Point…
After opening their day on a flat note, Indian share markets witnessed choppy trades and ended their session marginally higher. Losses were largely seen in the consumer durables sector and telecom sector, while banking stocks ended the day in the green. At the closing bell, the BSE Sensex stood higher by 21 points (up 0.1%) and the NSE Nifty stood flat. Both, the BSE Mid Cap index and…
After opening their day on a flat note, Indian share markets witnessed choppy trades and ended their session marginally higher. Losses were largely seen in the consumer durables sector and telecom sector, while banking stocks ended the day in the green. At the closing bell, the BSE Sensex stood higher by 21 points (up 0.1%) and the NSE Nifty stood flat. Both, the BSE Mid Cap index and…
The US equity market rebounded last week, posting a gain after two straight weekly declines. The advance topped performances for the major asset classes,based on a set of exchanged-traded products. Vanguard Total Stock Market (VTI) surged 2.5% for the five trading days through May 11, the ETF’s biggest weekly increase in two months. Last week’s rally…
Oil prices dropped on Monday morning, receding from last week’s 3 ½ year highs. Prices were pressured by a continued increase in U.S. drilling as well as Europe’s strong reaction against U.S. President Donald Trump’s expected sanctions against Iran. U.S. drillers added 10 rigs last week. At the current level of 844 rigs, the U.S….
Fundamental Forecast for EUR/USD: Neutral The Euro fell against five of the seven other major currencies, although EUR/USD nearly closed the week positive. The upcoming update to the April Eurozone CPI report could easily undermine EUR-crosses mid-week. The IG Client Sentiment Index has returned to a neutral view on EUR/USD after the pair’s late-week rebound. The Euro finished near the end of…
Kiwi fell to its lowest in 2018 after Governor Orr statement, Short NZD/USD? RBNZ has left rates unchanged at 1.75% as expected. Even though New Zealand has seen solid global and domestic growth, with the economy operating around full potential, RBNZ has revised forecast for GDP and Inflation downwards. Three dovish statements have led us…
Tesla: Short Squeeze Of The Century Tesla (TSLA) is often referred to as the “short of the century”. However, little credence is given to the possibility of Tesla becoming the short squeeze of the century instead. And despite being one of the best performing stocks in America over the last 8 years Tesla remains the…
