Currency futures diverged while the dollar rose on Friday after positive data confirmed rate hike expectations. S&P Global reported that the index of the US manufacturing and services sectors rose to 53.5 in April. It was the highest reading since last May, following a final reading of 52.3 in March. It conflicts with mounting evidence Read More…
Technical analysis NQ has begun a small consolidation move for the past few days. It appears the pullback may be in or the market could also be forming a flag at the moment. There are trade opportunities, but we need to be mindful that if we do go long in this market that the pullback Read More…
On Thursday, gold prices surged above the crucial $2,000 barrier once more as the dollar and Treasury yields declined. Weak US economic data supported the argument for the Federal Reserve to stop raising interest rates. A different data set revealed fewer existing house sales and significantly lower-than-expected factory activity in the mid-Atlantic region. At the Read More…
Oil prices fell by almost 2% on Wednesday, hitting a two-week low on worries that Fed rate hikes in the United States, the world’s largest oil consumer, might reduce oil consumption. Europe’s persistently high inflation rate and China’s mixed economic indicators discouraged investors. China is the world’s largest consumer of crude oil. That was the Read More…
Introduction Today we look at the Dollar index because it has a widespread effect on all markets. Generally, when the Dollar rises in value, stocks fall, and vice versa. It also drastically affects the Oil and Gold charts. Let us take a look at the technical formations that can give us a better idea of Read More…
Equities in the US and Europe made some gains on Tuesday as the first-quarter earnings season started. The S&P 500 scraped out a tiny gain thanks to the resilience of a few large technology firms, which helped offset weaker-than-expected quarterly results from Johnson & Johnson and Goldman Sachs. Shares of healthcare firm J&J dropped 2.8% Read More…
