Prices are approaching our support in line with our 50% retracement and 78.6% extension where we could see a bounce above this level.

Prices are approaching our support in line with our 50% retracement and 78.6% extension where we could see a bounce above this level.

Global equities have suffered an ugly shift in sentiment after US stocks declined sharply yesterday, led by the tech-heavy Nasdaq 100 index, which suffered one of its worst sessions this year and closed at is lowest in over a month. The weak sentiment spilled over into Asia, with the Nikkei...

The USD remains weak in the wake of the shocking miss on US April nonfarm payrolls, with the short end of the US yield curve suggesting that this release has bought the Fed time to sit on its hands for longer, while the long end of the US yield curve...

Although Friday's US jobs miss supports the Federal Reserve's view that the economy needs support for longer, the bond market tells us that inflation is the only mantra. This week's monthly CPI data will be in focus. While economists expect the CPI to rise to 3.6% YoY, the market knows...

Today we discuss the week's earnings, steelmakers close to overtaking e-commerce stocks as the big pandemic winner, and the threat to vaccine intellectual property rights.Earnings releases are continuing this week at a blistering pace with focus shifting away from the US towards Europe and especially Chinese technology earnings as data...

Prices are facing bearish pressure from horizontal swing high resistance, in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension. Prices might push down towards 1st support in line with horizontal swing low support which coincides with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. If prices push up further, prices...

Prices are facing bearish pressure from horizontal swing high resistance, in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension. Prices might push down towards 1st support in line with horizontal swing low support which coincides with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. If prices push up further, prices...

Today we look at the Friday NFP payrolls change shocker and to what degree it deserved the knee-jerk reaction it got, noting that it is very important to focus on the interesting change to the US yield curve in the wake of the data release. Elsewhere, we look at whether...