Economic Updates
US stocks extend sell-off, yields spike, GBP flash crashes
Wall St extended its sell-off in Mondays session, continuing on from Friday (albeit not as pronounced) against a backdrop of spiking bond yields, growth concerns and turmoil in the FX market. The S&P 500 closed at it’s lowest since late 2020 and the Dow slipped into bear market territory as investors fled risk assets. The USD was again dom...
Market await FOMC Interest rate decision
In what has been a heavily anticipated market event at 4:00am EST Australia, the US federal Reserve is set to release its changed Federal Funds rate for the quarter. The rate changes are an important aspect of keeping inflation under control as higher interest rates impact on consumer and business borrowing and investment. &n...
Technical Analysis – Oil taps a major trend line
The price of oil has been in a strong upward trend since May 2020, when it reached its bottom during the early stages of covid 19 pandemic, and the price of oil reached close to $0. The price of oil has respected the trend over the long term and has now retested the trend for the third time. As seen above, oil has failed to break below the t...
Coal Price Effect on Newcastle Coal Futures NCF1
As a trader the penny should now have dropped regarding the importance of energy stocks. Geopolitical issues around the world, especially surrounding Ukraine and Russia, has pushed energy stock prices to all time heights. This is due to supply chains being affected by the ongoing conflict. Newcastle Coal Futures, (NCF1) illustrate the increa...
Nasdaq breaks its trend as it heads lower
August proved to be a bearish month for the Nasdaq (NDX 100) and is showing no signs of slowing down. With a strong break below the daily trend line (as seen below), the Nasdaq has re-tested the trend and is now in its continuation phase. The price broke below the resistance area between $12230 and $12175, the Nasdaq has re-tested and respec...
Unemployment figures in Australia at record lows for August
Unemployment and Wages are an important metric to a country’s economy, simply put, if there are more members of the population at work and wages are at a good level, it may indicate that people have more purchasing power. This can help economic growth and can improve the health of the GDP. A growing economy should have an employment rate that...
Gold Testing Major Support Level
For the last 2 years, Gold has been bouncing in a range between $1700 and $2070 and is currently testing the major support level around $1700 as seen below. The price has used the yellow highlighted as an area for support zone and a rejection zone. Over the last 2 years clear rejections have occurred every time the price has reached around $...
Market smashed as CPI figures comes in hotter than expected
The US market has been smashed overnight on the back of higher then expected inflation figures. There had been some hope that inflation pressure was easing and that interest rate hikes were beginning to have an impact, however the bulls were no where to be seen in last night’s trading session as both the CPI and Core CPI figures came in higher th...
US Dollar Index Update, EURUSD Technical Analysis
An update on an article posted on the 1st of September regarding the US Dollar Index: https://www.gomarkets.com/au/featured/us-dollar-analysis-technical-perspective/ Last week the US Dollar Index struggled to break and close above a major resistance area between $108.7 to $109.8, with a weekly candlestick breaking above but closing below the...
Equities market rebounds after recent sell off
The equities market rebounded strongly after bulls pulled back all the losses from the prior week of trading. Much of the gains were associated with a drop in the strength of the US dollar which retraced after its insane run. The Dow Jones, Nasdaq, and S&P 500 all finished the trading week exceptionally strong rising 2.65%, 4.05% and 3.65%, res...
US equities under pressure as Tech tumbles to worst losing streak in 6 years
US equities returned from the Labor day holiday continuing from the selling pressures last week in anticipation of hawkish central bank policies and an ongoing energy crunch in Europe. Tech was particularly hard hit as risk off remains the market narrative, the Nasdaq had its 7th straight down day, it’s longest losing streak since 2016. The Na...
Market Recap – A look at the markets after the Labor Day Weekend U.S.
You may already be aware that our financial markets here in Australia and around the world are so closely intertwined that any event, decision or political movement in the U.S. may affect us directly or indirectly in the way we see the markets, our investments and opportunities on our day-to-day basis. Therefore, it is very important that as an...
Energy crunch a weak GBP and a Recession, what is going on?
The World and the European region are amid an energy crisis. With, the remnants of Ukraine and Russian crisis still lingering countries such as Germany and England are suffering as they struggle to keep up with the prices. The price of Natural Gas is nearly 5 times the price of what it was a year ago and Coal Prices soaring to all-time highs. ...
The week ahead – ECB, RBA, BoC and Fed headline a data heavy calendar
Global equities saw a steep sell-off last week as economic concerns, the European energy crunch and increasingly hawkish Central banks weighed on market sentiment and saw investors paring back on risk assets. Friday’s session saw a mixed Non-farm payroll announcement, with a beat on the headline figure offset by weaker than expected wage growt...
Bitcoin/USD – Technical Analysis
After Bitcoin reached its all time highs around $69,000USD per coin in November of 2021, it’s been downhill ever since. Currently sitting at roughly $20,080USD, it has dropped over 70% of its value in less than a year. Let’s break this down from a technical viewpoint, keeping it very simple with only a few lines. Not much else is needed....
