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Results 311 to 320 of 451
  1. #311

    Eur/gbp

    Settled back in consolidation from the .8764 high to retrace rally from the .8450 low of last week. Dips see support now at .8636 then the .8572, early Dec high. The latter must hold to keep bulls in control and see renewed strength later. Failure will see return to the .8500 level and .8450 support. [PL]

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  2. #312

    Asian shares are mixed as Trump remarks on policies are seen weak

    On Thursday, Asian stocks were mixed on Thursday after President-elect Donald Trump held a freewheeling press conference, which financial experts told was quite sparse on economic policy details.

    The S&P/ASX managed to go down 0.08% with biotech company CSL, tumbling 1.45% right after Donald Trump lambasted high drug prices during his news conference. Besides this, the Shanghai composite dared to inch up 0.2%. As for the Shenzhen composite, this benchmark was intact. Hong Kong's Hang Seng went down to trade down 0.27%. Additionally, the Nikkei 225 went down 0.96%.

    On Wednesday, American stocks were higher after the close because revenues in the Oil & Gas, Utilities as well as Basic Materials sectors brought stocks higher.

    At the close in NYSE, the Dow Jones Industrial Average rallied 0.50%. Simultaneously, the S&P 500 index tacked on 0.28%, and the NASDAQ Composite index surged 0.21%.

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  3. #313
    Australian shares edge down at close of trade

    On Thursday, Australia stocks went down after the close, as losses in the A-REITs, Healthcare as well as Consumer Staples sectors brought stocks down.

    The S&P/ASX 200 headed south 0.08%.

    The best performers of the session on the S&P/ASX 200 were demonstrated by such benchmarks as Steadfast F, Galaxy Resources Ltd and IPH Ltd. They rallied respectively 8.07%, 5.20% and 4.85%.

    As for the worst performance, we should mention Bellamys Australia Ltd, M Pharma Fp and Western Areas Ltd. They went down respectively 17.76%, 4.14% and 3.10%.

    Soaring shares outnumbered dropping ones on the Australia Stock Exchange by 542 to 494, while 347 remained intact.

    Shares in Steadfast F grew to all time peaks, surging 8.07% to 2.410. then, stocks in Bellamys Australia Ltd sank to 52-week minimums, dipping 17.76% to 4.400. Stocks in Galaxy Resources Ltd inched up to 3-years peaks, adding 5.20% and being worth 0.657.

    The S&P/ASX 200 VIX, assessing the implied volatility of S&P/ASX 200 options, leapt 0.72%, hitting 13.186, a fresh 1-month peak.

    The currency pair AUD/USD gained 0.24%, trading at 0.7459.

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  4. #314

    President-Elect Leaves Dollar Bulls Unimpressed

    President-Elect Leaves Dollar Bulls Unimpressed

    The long-awaited first press conference by President-Elect Donald Trump left many investors with more questions than answers as he failed to justify the current premium priced in the dollar and equity markets.
    We already knew that Trump wants to build a border wall with Mexico, bring back U.S. production onshore, and that he’s willing to be the best job creator America has ever known, but what’s his plans on corporate tax reforms? How and when is he planning to spend on roads, bridges, and other infrastructure projects? Is he going to impose tariffs on imported goods from China, Mexico and the rest of the world? Unfortunately, no updates were revealed.
    Thus, the greenback was dragged, falling against all major currencies on Wednesday with the dollar index falling to lowest levels since Dec 14 at 101.28. The selloff continued until early Thursday suggesting that dollar bulls are no more willing to price any additional premium until we get more clarity on his promised fiscal plans.
    The continued fall in U.S. treasury yields is another factor dragging the dollar. U.S. 10 year yields have been in a down trend since Dec 14, losing 11.8% in value after spiking 42% since the election results were revealed.
    U.S. stocks were less impacted, and managed to close higher despite the volatility and sharp selloff in pharma stocks which were attacked by Trump. Whether the rally can be sustained will depend on two factors, earning growth and actions from Trump’s administration as his words and tweets are clearly starting to show less influence.
    The combination of dollar weakness, lower U.S. yields and doubts in Trump's policies offered gold a boost, with the yellow metal posting a high of 1,199. So far gold has recovered 6.8% from December lows, and trader higher in 11 out of 13 days. Fed Chair Janet Yellen’s speech will probably decide whether we’re going to see a break and hold above 1,200 today.

  5. #315

    American property foreclosures are at 10-year minimum in 2016

    American property foreclosures are at 10-year minimum in 2016

    Foreclosure proceedings affected almost a million American homes as well as other real estate the previous year, tumbling 14% from 2015 and also declining 70% from the worst of the housing crisis in 2009, as Tuesday’s report disclosed.

    Foreclosures reached a 10-year minimum and property owners in all but 15 states faced fewer of the early stages of foreclosure, which normally started after owners have missed up to four mortgage payments, as the report by ATTOM Data Solutions states.

    Final repossessions of properties also sank, though they didn’t grow in 21 states and the District of Columbia, including Alabama, Massachusetts, Virginia, New York and New Jersey.

    The spokesman for the Irvine, California, data company, Daren Blomquist told that over half of the foreclosures, which didn’t occur were related to the housing crisis, which started in 2008 amid turmoil in the financial markets as well as the bursting of a years-long bubble in American real estate prices.

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  6. #316

    European shares edge down on American policy uncertainties

    European shares edge down on American policy uncertainties

    On Thursday, European stocks sank, as uncertainty dominated after Donald Trump’s first press conference since his win in November.

    During European morning trade, the EURO STOXX 50 lost 0.50%, French CAC 40 dipped 0.48%, German DAX 30 dived 0.52%.

    Market sentiment edged down after Donald Trump failed to provide clear details on his promises to stimulate fiscal spending as well as cut taxes at a highly-anticipated news conference on Wednesday.

    Financial shares were broadly lower because French lenders BNP Paribas as well as Societe Generale dipped 0.28% and 1%. Meanwhile, German Commerzbank and Deutsche Bank diped 0.29% and 0.49% respectively.

    Among peripheral lenders, Italy’s Unicredit and Intesa Sanpaolo dropped respectively 0.91% and 1.14%, while Spanish banks Banco Santander along with BBVA edged down 0.77% and 1.11% respectively.

    On Wednesday, Deutsche Telekom along with Inmarsat PLC launched a new Wi-Fi platform for passengers on Lufthansa Group flights in the EU.

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  7. #317

    Gold Prices Hit Six-Week High After Trump Press Conference

    Gold Prices Hit Six-Week High After Trump Press Conference

    Gold prices continued to rise and crude oilprices followed as a press conference with Donald Trump poured cold water on Fed rate hike speculation. The US President-elect did not offer much to markets yearning for details about his on-coming economic policy plans, which have been speculated to boost inflation and force Janet Yellen and company in to a steeper tightening cycle.

    Treasury bond yields fell alongside the US Dollar, boosting the appeal of anti-fiat and non-interest-bearing assets including gold. The weaker greenback also offered a lift to the benchmark WTI contract because it is priced in terms of the US currency, even as EIA inventories data showed a much larger build (4.1m barrels) than economists projected (930.1k).

    Fed-speak comes back into the spotlight from here after as the lull in high-profile economic data continues. This time around, comments from incoming FOMC voters Patrick Harker and Charles Evans – Presidents of the US central bank’s Philadelphia and Chicago branches – are going to be in focus. Even a broadly hawkish tone may fall on deaf ears however, as we saw earlier in the week.

    On balance, this may mean that dynamics established overnight will find follow-through amid continued retracement of “Trump trade” moves. This may bode well for gold and crude oil prices alike, although the latter may find it harder to build significant momentum as risk appetite sours along with confidence in an aggressively hawkish Federal Reserve.

  8. #318

    Euro Pushes Higher as Trump Speech Misses Mark

    EUR/USD has edged higher in the Thursday session, pushing above the 1.06 line. Currently, the pair is trading at 1.0640. On the release front, it's a busy day in Europe and the US. Eurozone Industrial Production sparkled with a gain of 1.5%, well above the forecast of 0.5%. Later in the day, the ECB will publish the minutes of its December policy meeting. In the US, today's highlight is unemployment claims, with the indicator expected to rise to 266 thousand. We'll also hear from two FOMC members – Charles Evans and Patrick Harker. Friday promises to be busy, with the US releasing retail sales and consumer confidence reports.
    There was plenty of anticipation ahead of Donald Trump's press conference on Thursday, but the event quickly turned into a spectacle rather than a platform outlying the president-elect's plans as president. The markets were hoping to hear some specifics about Trump's economic policy, but the president-elect didn't comply. Instead, Trump focused on attacking the media for releasing damaging material on him, and also presented his plan to avoid business conflicts while in office. The markets were clearly disappointed with the theatrics and the US dollar was broadly lower after the press conference.
    During the recent presidential campaign, Trump had plenty to say about the ills of the US economy on the campaign trail, but was short on solutions. He has gone on record promising tax cuts and significant fiscal spending to repair the country's infrastructure. This has led to expectations of reflation in the US, after years of low inflation levels. What does this mean for the currency markets? Lower taxes and higher spending (assuming both can be done simultaneously), would boost the US economy and raise inflation levels. This would likely lead to further rate hikes, which is bullish for the US dollar. The greenback has impressed since the US election, with EUR/USD climbing 3.7 percent.

  9. #319

    Market Morning Briefing

    Market Morning Briefing


    STOCKS
    Most of the indices are in a bullish consolidation mode which keeps the uptrend intact in the medium term. Shanghai is close to its major trend decider levels which may set the direction for the next few weeks soon.
    The Dow Jones (19891.00, -0.32%) remains stuck in the range of 19700-20000 for the 5th consecutive week and unless a surprisingly bad US retail sales data hit the markets tonight, the index may well end the week in the same range with no immediate intention to expand the range.
    Dax (11521.04, -1.07%) has lost the near term bullish momentum despite hitting a fresh high at 11692 this week and may now trade sideways in the range of 11400-700 for a few sessions before the next trending move.
    Nikkei (19208.09, 0.38%), similar to Dow, continues to trade in a narrow range for the 5th consecutive week but the medium term uptrend remains intact as long as the major support of 19000 holds.
    Shanghai (3106.01, -0.43%) is trading very close to the long term support area of 3100-3080, which if broken, may open major downside possibilities in the coming weeks. We will see if the bulls manage to hold the support and initiate a bounce from the support.
    Nifty (8407.20, +0.32%) is trading above the crucial 8300-mark, initiating bullish sentiments for the next few weeks. There could be some rejection from 8440 (decent resistance) before embarking towards 8500-8550 levels in the longer term.
    COMMODITIES
    Crude is in a consolidation mode like many major equity indices and Precious metals may be entering similar sideways mode after the recent sharp gains.
    Gold (1192.37) has corrected a bit after hitting a 7-week high at 1206.93 as Dollar Index (101.51) recovered above 101. The correction may extend to 1185-75 in the next few sessions if an immediate rise above 1207 is not seen.
    Silver (16.90) has corrected a bit too but if the immediate support of 16.60 holds now, then another fresh high in the range of 17.00-20 can be expected before any bearish reversal.
    WTI (53.06) and Brent (56.03) extended their gains on the upside but from a broader perspective, it is nothing more than a 5-week consolidation in the range of 50-55 for WTI and 53-58 for Brent with no clear trend in the near term. Both may oscillate in the same range for 1-2 weeks more.
    Copper (2.664) has found strong support near 2.53 this week and may test the major resistance at 2.70-75 by the next week.
    FOREX
    The Dollar Index (101.50) has found Support near 100.75 region after having fallen after Trump's press conference a day ago. A small bounce to 102 can be seen while this holds.
    Near-term Resistance near 1.07 has held on the Euro (1.0607 and may may restrict the market in a new range between 1.07 and 1.05. The medium term could see a rise towards 1.08 if and while the Support at 1.05 holds.
    Dollar-Yen (115.13) has rebounded decently in the US session, and is close to recovering half of the post-Trump-press-conference fall to 113.73. Watch intra-day Resistance near 115.30 and intra-week Resistance in the 115.70-116.00 region. While that holds, we may look for a range of 116-114 through next week, with a bit of a bearish bias.
    The Pound (1.2155) has given up most of its rise to yesterday's rise to 1.2317. This makes 1.2280-2320 into a formidable near-term Resistance. The Pound needs to work hard to stay above Support at 1.2030 all through next week.
    We were surprised by the further strong rise in the Aussie (0.7484) to a high of 0.7518. While the other currencies have given up a third of their gains, the Aussie is holding onto yesterday's gains. If the Aussie does not stop climbing here, we may have to look at 0.7750 on the upside. Need to see how the market behaves over the next couple of days.
    The Chinese Yuan (USDCNY 6.9068) could be ranged between 6.87-93 for a week. A break of either of these levels will set the trend for the next few weeks.
    Dollar-Rupee (68.09) saw a low near 67.96 yesterday and may trade between 67.90-68.20 in the near term. The Support at 67.90 needs to be watched closely whether it holds or breaks.
    INTEREST RATES
    The 10Yr GOI yields (6.5136%) are closing to the near term swing low 6.50% again and a break below 6.50% may resume the medium term downtrend for the target of 6.30%. Wait and watch if 6.50% holds or not. No bias.
    The US yields are seeing a battle between the 30Yr (2.98%) and the shorter term 10Yr (2.38%) and 5Yr (1.89%). The 30Yr is struggling near the major resistance 3.20% but the 10Yr is finding support near 2.3% and 5Yr near 1.8%.
    Both the 30-10YR (0.59%) and 30-5Yr (1.09%) are trying to bounce from major medium term supports and if, successful, may push the 30Yr up for a retest of the resistance of 3.20% and help Dollar Index in the process.

  10. #320

    Pound Steady, US Jobless Claims Sparkles

    The British pound pushed above the 1.23 line earlier on Thursday but was unable to consolidate and has retracted. In the North American session, GBP/USD is trading at 1.2220. On the release front, there are no major events in the UK. Over in the US, unemployment claims were sharp, coming in at 247 thousand. This easily beat the estimate of 266 thousand. The US releases key retail sales and consumer confidence reports on Friday, so traders should be prepared for some movement from GBP/USD.
    The US labor market continues to fire on all cylinders, as unemployment claims beat expectations for a second straight week. However, it should be noted that unemployment rolls may be skewed around the Christmas holiday season, so analysts are not reading too much into these unusually low releases. Still, 4-week averages for unemployment claims remain at very low levels, as the employment markets remains close to capacity.
    There was plenty of anticipation ahead of Donald Trump's press conference on Wednesday, but the event quickly turned into a spectacle rather than a platform outlying the president-elect's plans as president. The markets were hoping to hear some specifics about Trump's economic policy, but the president-elect didn't comply. Instead, Trump focused on attacking the media for releasing damaging material on him, and also presented his plan to avoid business conflicts while in office. The markets were clearly disappointed with the theatrics. Although the dollar was broadly lower in the aftermath of the Trump press conference, it has managed to hold its own against the pound.
    British numbers were a mix on Wednesday. Manufacturing Production posted a gain 1.3%, its strongest gain since April. The markets chose, however, to focus on the Goods Trade deficit, which jumped to GBP 12.2 billion. The pound responded negatively and dropped below the 1.21 line for the first time since October 6. Meanwhile, Mark Carney testified before a parliamentary committee. Carney acknowledged that the British financial sector will face adverse consequences due to Brexit, but argued that the "financial stability risks around that process are greater on the continent than they are for the UK". Prime Minister Theresa May has stated that she wants to begin negotiations over Britain's departure from the EU by the end of March, so Brexit is sure to be one of the hot economic topics early in 2017.

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