Today, the European market started lower, strongly influenced by the rise in global bond yields. This has affected confidence ahead of the release of long-awaited inflation data at the end of the week. Yesterday Wall Street showed some weakness coupled with the Asian market also closing in losses, partly under pressure from rising US Treasury yields as inflation...
Today's data releases include M3 currency production, mortgages, and private and corporate loans, as well as PPI, retail sales, consumer sentiment, and monthly and annual consumer price index data for several eurozone countries, mainly Germany. At the US open we have the MBA index of loans, purchasing power, and 30-year debt; and German inflation rates.
This...
- The market still trades above its bullish long-term trendline ; The long-term trend remains alive to this day.
- Since March 2024, the market has entered a consolidation phase, trading sideways between $57K/ GETTEX:59K and $70K.
Both moving averages remain bullish, as dynamic support to prices, while the RSI indicator has broken-out its bearish trendline...
- The market was trading inside a bullish channel since the beginning of 2024 ; the mid-term trend was then bullish.
- With the establishment of a new 7-months high at 0.9225 in early May 2024, the market's bullish trend has been invalidated with a bearish flag consolidation pattern, previously forecasted by a bearish divergence between prices and the MACD...
This day has seen the price differential between the COMEX and the London Metal Exchange (LME) seen as a support for the consolidation of the UK market. The copper market has been experiencing tensions due in part to the closure of one of the most important mines in Latin America located in Panama, coupled with the reduction of production forecasts from several...
Today on Memorial Day, the US market will remain closed today. The ECB has focused on cutting interest rates trying to get ahead of its peers in the US and UK. European stocks have started slightly higher from Friday's close. Sentiment continued part of the day up 0.28% at around 18,745 points. Data from the Ifo institute on current conditions were slightly below...
Today we face news from the UK regarding general retail sales which are expected to be slightly negative versus the previous result, including the annual. Market start sentiment has been relatively negative due to concerns of interest rate hike by the FED. The DAX, CAC40,FTSE100 fell at the open by 0.9%,0.6% and 0.9% respectively.
Sentiment for the week's close...
- The market has been registering higher highs and low since mid-April ; the mid-term trend was then bullish.
- As stated in our previous analysis, the market has successfully accelerated to a new historical high around 8,483pts.
Since then, with continuing disappointing economic developments regarding inflation, PMI and retail sales data, investors have been...
The Australian session has started on a positive note with both annual and quarterly retail sales in positive territory on an annual basis (previous 4.1% vs. 1.5% today) and showing a correction although still in negative territory on a quarterly basis (previous -1.9% vs. -0.3% today). Australian PMI data showed a slight decline. The Australian Federal Reserve's...
- The giant chipmaker keeps trading higher, benefitting from both crypto and AI frenzy this year.
The market recently ended its consolidation in the shape of a bearish flag pattern, now trading back to its all-time highs just below the $1,000 mark.
- Investors are now bracing for big swing in the company's share price as the results for Q1 are to be published...
It is clear that the US indices are inflated based on the boost from the Federal Reserve news. Yesterday three of the US indices closed higher, except for the Russell which closed slightly negative. This comes to reflect that the AI sector seems to be dragging with the magnificent 7 again in this directionality regardless of sectoral scope to all, due to its...
- The market has been trading inside a bearish channel since end of December 2023 ; the mid-term trend was then bearish.
- Since the impact over 0.5850, bull traders have been progressively piling up long positions, leading the market to a new high, breakin-out its mid-term bearish channel.
Both moving averages remain bullish, while the MACD is also evolving in...
Important April and year-over-year inflation data from Canada will be released this afternoon, which according to Statistics Canada has seen a housing production crisis unheard of in the country, leading to a runaway increase in housing prices and access to housing. It has also reflected a very strong increase in inflation in rents, transportation, and the...
Already since last Thursday the index tried to force the breakout zone at highs without success, and it seems that since Friday it is getting back on the bulls due to the favorable news in the Eurozone regarding the continuation of the Euro policy. According to President Von der Legen the ECB will not be able to lower interest rates below 3%, and this will cause...
- The market has been trading above a bullish trendline since November 2024 ; the long term trend is bullish.
- Last month, the market entered a consolidation phase following the establishment of a new all-time high above 5,100pts.
Investors have taken some of their profits out, which pulled the market back to its bullish trendline around...
This day the EURUSD faces news from European industrial production, tobacco, energy and food sectors. There is also a statement from Vice President de Guindos at noon today. The data reported by the US yesterday was quite poor with a similar result to expectations, in the case of manufacturing production slightly better than expected, and the Fed's inflation...
The Brent barrel (Brent) this week has cut its price by -1.05% versus -491% on a monthly basis, versus West Texas (LCrude). Crude oil prices rose 32 cents during the American afternoon session for Brent and 31 cents higher for West Texas Intermediate.
More subdued inflation, much weaker retail sales, coupled with lower-than-expected U.S. consumer prices in April,...
This day we have European data on employment, industrial production and GDP growth, as well as inflation rates for some countries such as Spain. The afternoon is very important for the markets with the Fed's manufacturing index, inflation, retail sales, and vehicle sales data, as well as the PCI for the month of April. With less relevance we also have information...
