Introduction YM is flat year-to-date but is only 10% away from all-time highs. With most equity indices, YM’s low was back in October of 2022, which is exactly one year ago. The price rallied 25% from there before retracing 7% to current price levels. Weekly Chart YM has been between $28,679 and $36844 since the Read More…
US equities fluctuated and closed with mixed results on Monday as benchmark US Treasury yields dropped from 5%. Investors turned their attention to high-profile earnings and closely watched economic data for the week ahead. The S&P 500 index finished modestly lower, while momentum stocks sensitive to interest rates lifted the tech-heavy Nasdaq Composite Index higher. Read More…
Currency futures ended slightly higher on Friday as the dollar weakened on reduced bets for a Fed rate hike in December. ING analyst Francesco Pesole noted that the dollar was not benefiting as much as it should from strong US data and its high rate advantage, likely due to its overbought status. The dollar weakened Read More…
Introduction Bond buying has been going crazy since the start of the conflict in the Middle East, and anyone trying to catch a falling knife now has been burnt badly. Let’s take a look at all time frames to get an idea of how we can take advantage of these market moves. Monthly Chart The Read More…
Gold rose for the third consecutive session on Thursday due to increasing Middle East tensions, driving up demand for safe-haven assets. Moreover, Federal Reserve Chair Jerome Powell’s comments fueled optimism that the US central bank might pause rate hikes. Meanwhile, Israel conducted more airstrikes on Gaza, with British Prime Minister Rishi Sunak echoing US President Read More…
Oil prices surged by approximately 2% to reach a two-week high on Wednesday. This increase was driven by a larger-than-expected drawdown in US oil storage and concerns about global oil supplies. During the week ending on October 13, US Energy Information Administration (EIA) reported that energy companies removed 4.5 million barrels of crude oil from Read More…
