Introduction On July 24, the S&P 500 closed at 5,427.13; this marks almost a 5% drop from the previous high. This drop follows a series of mixed performances over the last week. The volatility is attributed to significant losses in major tech stocks and companies within the utilities sector. Notably, shares of Vistra Corp. and Read More…
Gold prices ended higher on Tuesday, rebounding ahead of more US economic data this week. At the same time, news that India, the second largest consumer of gold, cut import duties improved the demand outlook for gold, boosting prices. Gold traders eagerly await GDP and inflation data from the US, which will come later in Read More…
Introduction There is an interesting pattern on the 6J daily chart that we could take advantage of. Since the middle of 2021, the Yen has been in a downtrend compared to the Dollar, but we want to look at the retracements during that period. Putting a 50 and 100 sma on the chart, there is Read More…
Equities ended higher on Monday as risk appetite improved and demand for mega-cap growth stocks increased. Shares of big companies like Alphabet, Tesla, and Nvidia led gains. At the same time, investors were preparing for this week’s US inflation report, which could reshape the outlook for Fed rate cuts. Nvidia rose by 4.8% after Reuters Read More…
Introduction We are excited to celebrate a big milestone this week at OneUp Trader! This marks the 100th newsletter hitting your inbox! Our Goal With The Newsletters From the very first newsletter, our mission has been clear: to provide educational trading content on recent market news, OneUp Trader updates, and a platform traders can trust. Read More…
Introduction Gold bulls were hoping for a rally through the all-time high last week, but it looks like they will need to sit on the sidelines for a while longer before that happens. Gold futures have performed well so far in 2024. Gold prices have risen approximately 15% year-to-date, reaching new highs. J.P. Morgan’s research Read More…
Currency futures fell on Friday as the dollar rose on safe-haven inflows after a cyber outage. At the same time, Fed rate-cut optimism fell, and markets focused on US economic resilience instead. A cyber outage on Friday spooked investors and had them rushing for safety in the dollar. Cybersecurity firm CrowdStrike made a software update Read More…
Interest futures fell on Thursday as investors took profits after the recent rally on a September Fed rate cut. The US unemployment claims data shows that more people are becoming unemployed, which will likely force the Fed to reduce interest rates in September. Interest futures have been bullish since last week as investors cheered the Read More…
Economic Data Recent positive data from the Eurozone, such as higher-than-expected GDP growth and industrial production, have supported the Euro but this is not very evident on the chart because at the same time the Dollar has many factors contributing to its strength too. Recent US inflation data showing a cooling trend has led to Read More…
Oil prices rose nearly 2% on Wednesday due to a larger-than-expected drop in US crude inventories. At the same time, oil demand increased as Fed policymakers indicated that the recent decline in inflation would pave the way for rate cuts. Brent futures (Source: ICE Futures Europe, Bloomberg) The Energy Information Administration reported that inventories fell Read More…
