On Thursday, gold strengthened as the dollar weakened ahead of US non-farm payrolls data. Traders anticipated signs of a weaker labor market, increasing the likelihood of a Federal Reserve rate cut in March. Chris Gaffney, head of world markets at EverBank, warned that market expectations for interest rates had become too optimistic. He stated that Read More…
Tag: futures trader
Oil Prices Plunge 4% on Surging Gasoline Inventories
On Wednesday, oil prices dropped by almost 4%, reaching the lowest close since June. Concerns about global fuel demand increased following US data revealing a larger-than-expected increase in gasoline inventories. Prices were also impacted by worries about China’s economic health and future fuel demand, worsened by Moody’s downgrade of China’s A1 rating outlook from stable Read More…
Technical Analysis of the S&P 500: Key Strategies for Profit
Introduction The S&P 500 is close to ending the year well in the green, currently at an 18.5% return for the year. 7 months have closed in the green, and we will need to wait and see what December brings, but after this rally, it wouldn’t be surprising to see some investors who were long, Read More…
Equities Ended Mixed as Employment Data Set the Stage for Fed Rate Cuts
Equities closed mixed on Tuesday after the US reported a big drop in job vacancies. As a result, investors increased their bets on a Fed rate cut in March. Job vacancies in the US have fallen to their lowest level since early 2021. US job openings (Source: Bureau of Labor Statistics) On Tuesday, the Labor Read More…
Equities Dip as Investors Brace for Employment Data Impact
On Monday, US equities declined, breaking last week’s rally, as investors became cautious before this week’s employment data. The data could impact expectations of an early interest rate cut by the Federal Reserve next year. S&P 500 nearly overbought (Source: Bloomberg) The S&P 500 achieved its highest close of the year on Friday after Fed Read More…
Nasdaq Futures (NQ) Pause At Resistance Level
Weekly Chart The weekly chart has seen 5 green weeks in a row, but this week has started off differently as NQ price rallied into a resistance zone at $15931, and price immediately began to sell off. Last week’s spinning top close is also a worry for the Bulls, but they will hope it is Read More…