Currency futures ended Friday mixed as the dollar rose after an upbeat jobs report. The dollar lost some of its gains made earlier versus the Euro but maintained its strength against the yen. April’s employment gains and wage growth exceeded economists’ expectations but revealed negative job revisions for March. The employment figures rose by 253,000, Read More…
On Thursday, gold continued its remarkable surge, supported by predictions for a pause in US rate hikes as US banking fears intensified a flight to the safe-haven metal. Wall Street dropped due to PacWest’s decision to look into strategic options. The news increased worries about the health of local banks and countered the optimism about Read More…
Technical analysis CL remains within the range we have been monitoring in almost every article this year made on crude futures. This range refuses to be broken in either direction. We can keep the technical analysis very simple with this trade as a huge spinning top has formed at the bottom of a 3-week sell-off. Read More…
Technical recap Gold has been in an uptrend for 2023 and is up nearly 30% since the November 2022 low. There is something that has put some fear into bulls for the time being, though, and it is a big inverted hammer on the daily chart. Inverted hammer This particular candlestick is extra powerful because Read More…
US equities ended lower Tuesday due to concerns that the government would run out of money after June 1 without a debt ceiling increase. Bank stocks collapsed following the weekend failure of American regional bank First Republic Bank. Energy shares tumbled as oil prices fell by 5% to a five-week low amid Concerns about the Read More…
Wall Street equities ended slightly down, and Treasury yields rose as investors reviewed Monday’s data. They were awaiting Wednesday’s Fed’s interest rate decision and quarterly earnings reports. Data showed that the US manufacturing sector recovered from a three-year low in April as new orders and employment increased. However, the sector’s activity remained weak due to Read More…
