Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.Trading foreign exchange on margin carries a high level of risk and may … [Continue reading]
Coronavirus in the US: Texas hospitalizations reportedly up 6.8%, Florida positive test rate tops 16%
COVID-19 cases continue rising in the US. Texas, currently suffering the worst outbreak, has reportedly seen a daily increase of 6.8% in hospitalizations, to 9.286. Several hospitals in Houston are overwhelmed. Florida, another state suffering … [Continue reading]
S&P 500: Resistance at 3190/92 to cap for now – Credit Suisse
S&P 500 strength has extended to next flagged resistance at 3190/82 which is expected to cap near-term to maintain a high-level consolidation range with support seen at 3155, per Credit Suisse. Key quotes “The S&P 500 has extended its … [Continue reading]
WTI eases from two-week top ahead of API stockpile data
WTI stays depressed while extending pullback from $40.83. Coronavirus woes battle economic optimism in China, US summer driving demand slows. Saudi Arabia hikes selling price, another explosion reported in Tehran. API data, risk catalysts will be in … [Continue reading]
Gold Price Analysis: Trapped in an ascending triangle
Gold prints ascending triangle on the 15-minute chart. A breakout would imply a continuation fo the uptrend. Gold is currently trading at $1,784 per ounce, representing a 0.11% gain on the day, having tested Monday’s high of $1,787 … [Continue reading]
Wall Street Close: US stocks surge and Nasdaq powers to record high
The Dow increased 1.78 percent to 26,287.03, The S&P 500 was up 1.59 percent to 3,179.72. Nasdaq rallied 2.21 percent to 10,433.65. US stocks rallied on Monday following a stock-market rally in China after a state-run newspaper published … [Continue reading]
BoC surveys show economic recovery will take time – RBC
The Bank of Canada published the second quarter Business Outlook Survey and the Canadian Survey of Consumer Expectations. Nathan Janzen, Senior Economist at RBC Economics points out both reiterated that the economic recovery from an unprecedented … [Continue reading]
S&P 500: Upward bias above 3116/13 with resistance seen at 3190/94 – Credit Suisse
S&P 500 while above 3116/13 can maintain an immediate upward bias within its high-level consolidation range with resistance seen at the top of the early June price gap and potential downtrend from March at 3190/94, per Credit Suisse. Key quotes … [Continue reading]
GBP/USD to rally on a break above 1.2550 – OCBC
GBP/USD benefits from the US dollar weakness and rises to 1.2490 on Monday. In doing so, the cable registers 0.07% gains and stretches Friday’s gains to challenge the monthly top beyond 1.2500 but a break above 1.2550 is needed for a deeper move … [Continue reading]
UK’s Sunak to announce a hike in property tax threshold, cut VAT on Wednesday – The Times
Citing the UK government sources, the UK Times reported on Sunday, the country’s Finance Minister Rishi Sunak is considering plans to raise the property tax threshold to as high as GBP500K ($623,700) while temporarily slashing the value-added … [Continue reading]