Thanks to the actions of governments and central banks in response to coronavirus outbreak, investors have been piling into equities over the past several weeks despite the global economy being in a standstill. The rebound has been remarkable. The big question is what’s going to happen next: a continuation higher (to a new all-time high?) …
[Video] S&P 500 arrives at KEY technical area after strong recovery Read More »
Crude oil prices jumped 5% at the Asian open then fell around 2-3% in the immediate reaction to the OPEC+’s historic decision to cut oil output by 9.7 million barrels a day, just shy of the initial proposal of 10 million bpd. Though the reaction hasn’t been great, I think crude prices will likely climb …
Crude oil likely bottomed amid OPEC+ historic deal Read More »
Here is my latest analysis on gold – sorry about the background/kids noise, working from home!
Things have settled down with global stock indices extending their advance following Monday’s big upsurge and risk-sensitive currencies are also pushing higher. Investors are betting that the coronavirus outbreak may have peaked and are ignoring the economic slump that we are in. They are hoping that with the death rate falling in parts of the …
Here are the before and after charts of the trade signals for March 2020 in the Discretionary trade signals group on Telegram. USD/CAD Long Issued: 2nd March Closed USD/CAD long essentially at break-even (a few pips profit) after the Fed’s unexpected rate cut. In hindsight, this trade would have worked beautifully if we kept it …
No one used to care about it, but now it is arguably the most important macro data. The weekly unemployment claims hit a new record as 6.6 million people applied for it, doubling from 3.3 million the week prior. As soon as the data came out, European stock indices and US index futures, which had …
Stocks relinquish gains as jobless claims surge by 6.6 million Read More »
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