The S&P index on the daily chart moved to and through the 200 day MA on Thursday. It moved above the same MA today too. The MA comes in at 3967.17. The high today reached 3980.98. The high yesterday reached 3997.76. The price closed just below the MA yesterday. It is currently trading below that
Jeff Weniger from WisdomTree put together a nice graphic emphasizing that US inflation is about to begin lapping some seriously high year-over-year comparative numbers. With that, the old numbers will ‘fall out’ of the year-over-year reading and that will cause inflation readings to fall. How far will they fall? If CPI were to run at
Last year looked topsy-turvy in terms of crude oil prices. Immediately after the Russia-Ukraine war, NYMEX crude oil prices skyrocketed to a 14-year high, but substantially corrected later and fell back to more than a year’s low by the end of the year. Uncertain micro-economic conditions adversely hit the fundamentals of the commodity throughout the
Dollar was sold off broadly last week as a 25bps rate hike by Fed in February is now pretty much a done deal, after CPI data. On the other hand, Yen staged a strong rally on speculations that BoJ is now much closer to exit of ultra-loose monetary policy. USD/JPY ended as the biggest mover
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Thursday, Oct. 13, 2022. Ting Shen | Bloomberg | Getty Images JPMorgan Chase on Friday posted fourth-quarter
USD/CAD finished Friday’s session with gains, though it faltered to clear 1.3400. USD/CAD Price Analysis: Exposed to selling pressure below 1.3400. The USD/CAD prolonged its weekly losses and tumbled for the fourth consecutive week, losing 0.36%, but on the day, the USD/CAD is up 0.22%. After the University of Michigan (UoM) Consumer Sentiment release showed
Ethereum layer-2 scaling protocol Polygon (MATIC) is carrying out performance testing of zero-knowledge rollup (zk rollups) technology ahead of full integration with its mainnet. The development of the technology, called Polygon zkEVM (Ethereum Virtual Machine), has been ongoing for over three years by the Polygon Hermez team. The team has already confirmed that zero-knowledge proofs
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The US 10 year yield moved to a new year low at 3.417%. That took the yield just below the 50% of the move up from the August 2022 low at 3.426%, but remained above the December low yield of 3.404%. The combination is forming a nice floor for the 10 year yield at the
The ghost of 2022 is behind us in the stock market as the major indices closed higher for the 2nd consecutive week to start the new year. The gains have been led by the Nasdaq which rose by an oversized 4.82% this week (largest 1 week gain since November 7 week), after rising by near
Chandigarh, The country’s wheat output is expected to be 112 million tonnes in the 2022-23 crop year, almost five million tonnes more than last year’s rabi harvesting season, with rise in area under high-yielding varieties contributing to this, said Gyanendra Singh, Director of Karnal-based ICAR-Indian Institute of Wheat and Barley Research (IIWBR). Singh ascribed expected
Australian Dollar rises broadly today as risk-on sentiment carried forward to Asian session. Additionally, the Aussie is lifted by reopening of China, together with Yuan and Hong Kong stocks. Kiwi and Sterling are currently the next strongest. Dollar plunges broadly as a result too, with expectations that Fed to going to slow down the tightening
In this article WFC Follow your favorite stocksCREATE FREE ACCOUNT People walk past a Wells Fargo bank on 14th Street on December 20, 2022 in New York City. Michael M. Santiago | Getty Images Wells Fargo reported shrinking profits on Friday, weighed down by a recent settlement and the need to build up reserves amid
According to analysts at MUFG Bank, the Japanese Yen is set to gain further ground on the back of monetary policy expectations from the Bank of Japan. They consider possible a slide under 120.00 for later in 2023. Key quotes: “USD/JPY has fallen further still today and is now 15.5% down from the peak on
The gold bulls are certainly having a moment. At the start of December, as I always do, I highlighted the seasonal trend towards higher gold. Once again, it worked and remains the single-best seasonal trade I know of. It’s been a ticket to start the year off with a solid gain forever. This year has
Go with the break is the message from MUFG Research’s first trade of the week for 2023. They suggest buying EUR/CHF from spot (reference 1.0045) with a target of 1.0470 and a stop at 0.9830. “We are recommending a new long EUR/CHF trade idea. Given the CHF’s role as a regional safe haven currency, the