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Outside Reversals

Readers can relax; this is not another flying story. I am referring to the technical reversal pattern, which in the case of asset classes overnight, refers to financial instrument making a fresh high before closing below the low price traded the previous day. That is a bearish formation, and quite a

(DAILY NOTION): NAS100, US30, and SPX 500 Closed Lower, Is This a Signal of Things to Come? Next Mover: Nonfarm Payrolls

NASDAQ 100 (as of Jan 5, 2021 at 3.15 p.m.) Source: Yahoo Finance SPX 500 (as of Jan 5, 2021 at 3.15 p.m.) Source: Yahoo Finance US30 (as of Jan 5, 2021 at 3.15 p.m.) Source: Yahoo Finance It appears that the bulls on Wall Street have been stopped in their tracks. The SPX500 closed 1.48% lower

Hedge fund manager Scaramucci launches cryptocurrency fund

(Reuters) - Anthony Scaramucci’s firm SkyBridge Capital is the latest traditional fund manager to launch a bitcoin-focused fund after a surge of interest in cryptocurrencies in 2020. Slideshow ( 4 images )Scaramucci, who previously served a short stint as U.S. President Donald Trump's communications

LTCUSD Breakout Underway

Litecoin has finally broken past the $140.00 resistance level, as the popular cryptocurrency follows Bitcoin and Ethereum higher. Technical analysis shows that the LTCUSD pair could target the $200.00 now that bulls have surpassed the $140.00 resistance level. LTCUSD dip-buyers may look to buy any p

EUR/USD clinches fresh tops around 1.2300

EUR/USD remains firm and tests the 1.2300 yardstick. The selling bias around the greenback fuels the upside. German, EMU Manufacturing PMI remained robust in December. The upside momentum in the single currency remains well and sound at the beginning of the new year and pushes EUR/USD to fresh tops

Bitcoin could quadruple in 2021 as the digital currency sees a rally similar to 2017, Fundstrat's Tom Lee says

Cindy Ord/Getty Images Bitcoin's near 300% surge in 2020 could be followed up by an even stronger performance in 2021, according to Fundstrat's Tom Lee.In an interview with CNBC on Wednesday, Lee said bitcoin could quadruple in 2021 as the crypto asset experiences a similar parabolic setup that occu

Australia Manufacturing PMI Slips To 55.7 In December

The manufacturing sector in Australia continued to expand in December, albeit at a slightly slower pace, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 55.7. That's down marginally from 55.8 in November, although it remains well above the boom-or-bust li

USD/JPY: On the back foot near 103.00 amid concerns over covid emergency in Tokyo

USD/JPY sellers attack intraday low amid fears of the virus-led activity restrictions in Japan. Tokyo and 3 surrounding prefectures can witness emergency as early as this week. Japan’s Jibun Bank Manufacturing PMI overcomes manufacturing contraction for the first time since early 2019. S&P 500 F
Gold Oil

CORRECTED (OFFICIAL)-Britain steadfast in support for Gibraltar sovereignty - foreign minister

(Amends quote from reissued statement) LONDON, Dec 31 (Reuters) - Britain remains steadfast in support of Gibraltar’s sovereignty and is committed to mitigating the impact of Britain’s full exit from the European Union, Foreign minister Dominic Raab said on Thursday. Earlier on Thursday, Spain and B

UPDATE 1-U.S. weekly jobless claims fall for second straight week

(Adds details, quotes, byline) Dec 31 (Reuters) - The number of Americans filing first-time claims for unemployment benefits unexpectedly fell for a second straight week last week but remain elevated more than nine months into the health and economic crisis triggered by the coronavirus pandemic, sig

Brexit: UK Regulator Offers Temporary Relief on Swaps Trading

Photo: Finance Magnates The UK’s Financial Conduct Authority (FCA) has announced on Thursday that it will allow British companies to approach the European Union-based platforms for derivatives trading until the end of March 2021. This decision came hours before the expiry of the 11 months long trans

UPDATE 1-Britain backtracks over Brexit curbs on cross-border swaps trading

(Adds more detail) LONDON, Dec 31 (Reuters) - Britain’s markets watchdog said on Thursday it would allow UK market participants to use platforms in the European Union to trade swaps for up to three months in a bid to avoid potential disruption in markets. Following Britain’s full withdrawal from the

Using oil rent to finance energy transition is effective – Natixis

Currently, lenders (investors, banks) are increasingly discouraged from financing investments in fossil fuels. But they will be able to continue to finance oil companies whose strategy will be to invest a substantial part of their oil revenues in the energy transition (in renewable energies). Strate
(BLOOMBERG) Who are The Winners and Losers this Holiday Shopping Season? - Dec 31, 2020.#RetailSales##Economy#

Pull-up Update