The USDCHF pair has been swinging from bullish to bearish from a weekly perspective on this pair.
It has established strong resistances at 1.00571 to 1.00148, forming a double top as it tried to break these levels. The double top rejection resulted in the USDCHF pushing back down and bouncing off 0.94907. This price level corresponds to the 200 MA and the 0.5...
Canada's inflation rate rose by 0.7% in June to a 39-year high of 8.1%. After its July meeting, the Bank of Canada raised rates by 100 basis points and is expected to tighten its monetary policy even further.
BOC's aggressive monetary policy may be a positive sign for the USDCAD to move further to the downside, building upon the recent pullback. Last Monday,...
Pinterest’s (NYSE:PINS) shares closed up 16.2% on Friday on the New York Stock Exchange after the Wall Street Journal reported after market hours on Thursday that activist investor Elliott Investment Management has built a stake in the digital pinboard platform.
Top-level departures
The news came just two weeks after the company, which has been struggling...
It has been a volatile four months for GameStop’s (NYSE:GME) stock since the company announced its planned stock split on March 31.
Four-for-one split
On March 31, GameStop disclosed plans to carry out a stock split by boosting its share count to 1 billion from 300 million. A stock split does not necessarily increase a company’s market capitalization, but...
After the euro made a once in 20 years slide to parity with the US dollar, one might also ask: will the British pound be the next to cross parity with the American dollar?
The GBPUSD pair has been consistently in a downtrend since last year. Traders and investors are now on their watch as technical indicators may show signs of a possible move towards the parity...
Yesterday, JPMorgan Chase (NYSE: JPM) reported that the bank's second-quarter earnings fell as a result of adding $428 million in bad loan reserves.
With this view, JPMorgan has chosen to temporarily halt its share repurchases in order to meet regulatory capital requirements.
According to a statement from JPMorgan, the reserve rise was primarily to blame for...
Technical analysis, and in particular the Range identifier Indicator, suggests a possible continuation to the downside is on the cards for GBPUSD.
The Range Identifier is a technical tool that highlights price ranges of an asset. Technical analysts will commonly use this indicator to determine price breakouts. Similar to the Darvas Box indicator, the Range...
The US dollar/ Thai baht (USDTHB) has been rallying to the bullish side. Hawkish Fed policy has remained the key source of dollar strength, but one may still wonder if the trend will continue or if it is already oversold and is bound for correction.
A unique indicator used to identify if a trend is oversold or overbought is the DeMarker indicator. The DeMarker,...
Australia’s main share index, the ASX 200, closed lower on Wednesday by 0.5%. This fall could have been a lot worse If not for technology and financial stocks mitigating the rout in other major Australian sectors.
Australian Securities Exchange’s Metals & Mining Index fell by a massive 5.6%. Heavyweights in the mining sectors, Rio Tinto (ASX: RIO), Newcrest...
Sugar is used in food, beverage, and in biofuel production, and its importance in global trade gives it a strong position in the commodity futures market. The price of sugar has surged 17% since the beginning of January 2021.
Reduced Brazil production
Sugar prices have recently been affected by production levels in Brazil, a key sugarcane producer and...
The debate over abortion reignited in the US following the Supreme Court’s decision to overturn the landmark 1973 Roe v. Wade ruling that generally protects women’s rights to abortion.
Upending five decades-old right to abortion
In a 5-4 decision, the Supreme Court on June 24 overturned the ruling that many critics say will have far-reaching consequences in...
Tesla's stock price last Friday jumped from $673.42 to $681.79, gaining 1.24% after the end of the session.
Tesla stock showed signs of range contraction during the day, making an intraday range from $666.36 day low to a day high of $690.69, the narrowest in the last seven days. The stock volume was 79% of the average volume on the previous trading day, down by...
USDMXN made a rebound this week as the USD restarted its momentum to the upside.
The US dollar has found a mild bullish impetus in Jerome Powell’s ECB forum appearance where he reiterated his hawkish outlook for the US economy. Powell believes that the US economy remains well positioned to absorb tighter credit conditions while avoiding recession and rising...
Crude oil experienced a significant drop in price over the past two weeks. This week, however, it appears the energy commodity is bouncing back to the bullish side.
The fall in the price of oil since May was triggered by the fear of a recession, in the US in particular, and numerous central banks’ moving against inflation with rate hikes, leading to slowing...
With US stocks officially entering the bear market recently and with concerns that the next recession is upon us, companies are walking another tightrope.
Consumer goods companies including big multinational brands have employed various measures to protect their profit margins and cushion the impact of skyrocketing inflation and weakening consumption. Even...
With US stocks officially entering the bear market recently and with concerns that the next recession is upon us, companies are walking another tightrope.
Consumer goods companies including big multinational brands have employed various measures to protect their profit margins and cushion the impact of skyrocketing inflation and weakening consumption. Even...
As fears that a recession is just around the corner for the US, some economists are warning that Australia could follow suit.
Some, however, remain bullish on the Australian economy due to high household savings, strong commodity exports, accommodative government stimulus and a robust pipeline of residential building constructions.
Emerging from...
The Reserve Bank of New Zealand (RBNZ), showing concern about inflation, made another 50bsp hike during May taking its Official Cash Rate to 2.0%. The hawkish tone and actions of the RBNZ paired with fears the US economy could tip into a recession by the end of the year have helped the NZD regain some composure over the past couple of weeks.
The NZDUSD made a...
