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S&P 500 Index: The risk of a pullback starts to grow – Credit Suisse

S&P 500 uptrend is starting to lose momentum and support at 3765 needs to hold to suggest the immediate risk can still lean higher, economists at Credit Suisse report. Key quotes “The S&P 500 Index has again been unable to resume its uptrend and although a large bullish ‘outside week’ remain

USD/JPY drops to fresh daily lows near 103.60

USD/JPY is falling for the second straight day on Friday. Wall Street's main indexes look to open in the negative territory. 10-year US Treasury bond yield is down more than 2%. The USD/JPY pair posted small daily losses on Thursday and continued to push lower on Friday with risk-off flows helping t

Dutch government to resign over childcare subsidy scandal – NOS

Dutch Prime Minister Mark Rutte and his government will resign over a childcare subsidy scandal that "drove thousands of families to financial ruin," Reuters reported on Friday, citing Dutch news outlet NOS. There hasn't yet been an official confirmation of this news at the time of press. Market rea

January flashlight for the FOMC blackout period

Executive Summary The January 26-27 meeting of the Federal Open Market Committee (FOMC) is now elevendays away, and we have entered the blackout period when committee members refrain from public comments. Notably, this will be first meeting to occur during the Biden administration, and in keeping wi

EUR/USD outlook: Bearish bias remains below broken Fibo support at 1.2173

EUR/USD The Euro stays in red on Friday and pressures new one-month low as bears regain traction after Thursday's hesitation, expressed by daily Doji candle. The action remains under broken Fibo level (1.2173, 23.6% of 1.1602/1.2349) that keeps near-term bias with bears. Rising bearish momentum on d

Week ahead – ECB, BoJ and BoC meet but all eyes on US capitol [Video]

The first of the new year’s central bank meetings will get under way next week and it will be a heavy schedule on the data front as well. The European Central Bank, Bank of Japan and Bank of Canada will almost certainly be debating the latest setback to the recovery from the worsening Covid-19 outbr

Brent slows downs as it hits massive resistance [Video]

Brent has been in a massive 56% rally since October 2020 and is now retesting a key level that held as support for 175 days (August 2019 - January 2020). This market is very strong but a pullback to the previous highs might give us the best trading opportunity. The only real pullback on this rally h

US: Retail Sales decline by 0.7% in December vs. 0 expected

Retail Sales in the US continued to fall in December. US Dollar Index stays in the positive territory near 90.50. Retail Sales in the US fell by 0.7% in December to $540.9 billion, the data published by the US Census Bureau showed on Friday. This reading followed November's decline of 1.4% (revised

US: Annual Core PPI edges lower to 1.2% in December vs. 1.4% expected

Annual Core PPI in US softened modestly in December. US Dollar Index clings to daily gains after the data. The Producer Price Index (PPI) in the US for final demand rose to 0.3% on a monthly basis in December from 0.1% in November, the data published by the US Bureau of Labor Statistics showed on Fr

US: NY Empire State Manufacturing Index falls to 3.5 in January vs. 6 expected

NY Empire State Manufacturing Index continued to decline in January. US Dollar Index clings to daily gains around 90.50. The headline General Business Conditions Index of the NY Fed's Empire State Manufacturing Survey fell to 3.5 in January from 4.9 in December, the NY Fed's report revealed on Frida

Forecasting the bounce higher in GDX from blue box area

In this technical blog, we are going to take a look at the past performance of 4 hour Elliott Wave Charts of GDX, which we presented to members. In which, the rally to 05 August 2020 peak unfolded in an impulse structure. Down from there, GDX made a pullback lower to correct the cycle from the 16 Ma

The greenback is finishing the week with a firm tone

Overview: The US dollar is firm against most of the major and emerging market currencies today. Among the majors, the Japanese yen and Swiss franc are resilient. For the week, sterling and the yen appear poised to eke out small gains, while the Scandi's are the weakest performers with around a 1% de

Biden inauguration next week amid Fed repricing

President-Elect Joe Biden isdue to beinaugurated on Wednesday. While the event is normally a pure formality, tensions are high in the US,with concerns about another riot. We expect the Biden administration to be more stimuli-friendly near-term, as Biden told us when he presented his economic plan ye

JPMorgan stock waits for earnings results

The JPMorgan Chase & Co. stock (NYSE: JPM) traded higher yesterday, hitting a new record high at 142.71. Then it retreated somewhat. Overall, the stock continues to trade above the upside support line drawn from the low of October 29th, and thus, we would consider the broader outlook to be posit

Gold Price Analysis: XAU/USD extends sideways grind near $1,850

Gold is fluctuating in a very tight range on Friday. XAU/USD could push higher if it manages to break above 200-SMA on H4 chart. Key support for gold is located at $1,817. The XAU/USD pair registered small daily gains on Thursday but struggled to extend its recovery amid a lack of significant fundam

Pull-up Update

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