S&P 500, Nasdaq, Dow Technical Forecast: Stock Reversal Levels
Stocks snapped a seven-week losing streak with the indices responding to key downtrend support. Levels that matter on SPX500, Nasdaq & Dow weekly technical charts.
Bitcoin Weekly Forecast: Price Continues to Hold Key Support – Is a Breakout on the Cards?
Bitcoin continues to tread water above key support as JP Morgan says there is tremendous upside for the space. Is a breakout in the making?
USD Down, Commodity Currencies Up on Better Risk Sentiment
Rates as of 0500 GMT Market Recap Well, maybe I will be able to retire eventually after all Equity market sentiment improved substantially yesterday, with the World Equity Indices page on Bloomberg a sea of green except for Sweden, for some reason. The SP 500 was up 2.0 and the NASDAQ up an even larger […]
Rouble Extends Losses on Rates Slashed; Eurobonds in Focus
May 27 Reuters The Russian rouble extended its losses on Friday after plunging the previous session as the central bank slashed interest rates, signalling more cuts to come, and the prospect of easing capital controls and a possible sovereign default hammered the currency. The rouble slumped around 10 to the dollar and euro on Thursday […]
Dollar Drifts Up but Set for Biggest Weekly Drop in 4 Months
LONDON, May 27 Reuters The dollar edged higher on Friday but was on track for its biggest weekly drop in nearly four months as traders lowered Federal Reserve rate hike expectations amid signs the U.S. central bank might slow or even pause its tightening cycle in the second half of the year. A broadbased decline […]
Indian Shares End Higher on Global Optimism, IT Stocks Rally
BENGALURU, May 27 Reuters Indian shares settled over 1 higher on Friday, led by gains in information technology stocks, as strong U.S. retail earnings outlook and waning concerns about overly aggressive interest rate hikes by central banks lifted sentiment globally. The NSE Nifty 50 index settled up 1.13 at 6,352.45 and posted a 0.6 gain for […]
Pound Heads for 2nd Weekly Gain, Aided by UK Support Package
LONDON, May 27 Reuters Britain39;s pound headed for a second weekly rise and was close to a onemonth high on Friday, helped by a large government spending package to support households that economists said should support the economy in the short term. The government on Thursday announced a 25 windfall tax on oil and gas […]
Crude Oil Prices Challenge Key Range Top. Breakout Ahead?
Crude oil prices are challenging the top of the range locking them in place amid uncertainty about Russia’s invasion of Ukraine. Will they break higher or slump back into congestion?
U.S. Economy Kicks off Second Quarter on Strong Note; Rise in Inflation Slowing
Consumer spending increases 0.9 in April Inflation adjusted consumer spending rises 0.7 Core PCE price index gains 0.3; up 4.9 yearonyear Goods trade deficit narrows 15.9 to 105.9 bln in April WASHINGTON, May 27 Reuters U.S. consumer spending rose more than expected in April as households boosted purchases of goods and services, and the increase […]
China Industrial Profit Rises 3.5 yy in JanuaryApril
BEIJING, May 27 Reuters Profit at China39;s industrial firms rose 3.5 in JanuaryApril verses the same period a year earlier, slower than the 8.5 onyear growth logged for JanuaryMarch, the National Bureau of Statistics said on Friday. Industrial profit dropped 8.5 in April, the data showed. The data covered firms with annual revenue above 20 […]