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S&P 500 Weekly Forecast

This/Next Week Forecast (September 21 - 25, 2020) Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 3430, which will be followed by moving up to resistance level 3505 and if it keeps on moving up above that level, we may expect the market to reach resistance

GBE Prime: Banking Remains a Large Thorn in Broker’s Sides

Photo: Ben-Florian Henke, Head of GBE Prime Banking continues to remain one of the biggest challenges for foreign exchange (forex) brokers. Recently, GBE Prime, a regulated broker and liquidity provider, announced that it had formed a banking relationship with Raiffeisenbank. Speaking to Finance M

Chinese Aug Caixin Services PMI 54.0 vs 54.1 prior

Reuters reported that the recovery in China's service sector activity extended into a fourth straight month in August, an industry survey showed on Thursday, with companies hiring more people for the first time since January. The Caixin/Markit services Purchasing Managers' Index (PMI) slipped to 54.

Philippine Central Bank Refrains From Rate Cut

The Philippine central bank refrained from cutting rates further from the current record low as policymakers await the real impact of previous easing on the economy. The Monetary Board of the Bangko Sentral ng Pilipinas, or BSP, on Thursday, retained the overnight reverse repurchase facility rate

Spotware’s cTrader Copy Added by Scandinavian Capital Markets

Photo: FM cTrader Copy, the social trading investment program offered by Spotware, has been added by one of the company’s clients – Scandinavian Capital Markets, a Swedish foreign exchange broker, Spotware announced earlier this week. The social trading platform, which was launched as an improved

USD sustained weakness beyond 2020 is not on the table – ANZ

The US dollar is in fierce focus as the currency weakens across the G10. The narrative around this trade has been easy to see: low US rates, rising political tension in the US and struggles to form consensus around the next round of much needed fiscal stimulus. Add to this a rollover in the US’s gro

Hi-ho silver! Away!

The Lone Ranger galloped into town upon Silver overnight, precious metals markets are seeing fireworks this morning after plenty was also seen yesterday. Silver prices exploding higher, threatening to drag gold out of its multi-week malaise – more on this below. Meanwhile, the buy-everything trade w

Finland Industrial Production Decline Slows In May

Finland's industrial production declined for a second month, but at a softer pace, in May, figures from Statistics Finland showed on Friday. Industrial production decreased by a seasonally adjusted 1.2 percent month-on-month in May, following a 2.7 percent decline in April. Manufacturing output fell

Philippine Exports Decline Sharply In May

The Philippine exports and imports declined sharply in May, the Philippine Statistics Authority said Friday. Exports decreased 35.6 percent year-on-year in May, but slower than the 49.9 percent fall logged in April. At the same time, imports were down 40.6 percent, after declining 65.3 percent in Ap

Gold Price Analysis: Trapped in an ascending triangle

Gold prints ascending triangle on the 15-minute chart.  A breakout would imply a continuation fo the uptrend.  Gold is currently trading at $1,784 per ounce, representing a 0.11% gain on the day, having tested Monday’s high of $1,787 soon before press time.  The yellow metal has carved out an ascen

Silver Price Analysis: Drops to 200-HMA inside immediate falling channel

Silver prices stretch the early-week pullback from $18.39. 61.8% Fibonacci retracement, the channel support might question further downside. A descending trend line from September 2019 becomes the key upside barrier. While printing three-day losing streak from the highest levels since late-February

Gold Price Analysis: XAU/USD bearish case for the contrarians out there

Bulls have lost their grip, besides a very near term possibility to the upside, bets are firmly being laid on the downside. The contrarians will be eyeing developments very closely at this juncture. The price of gold has lost steam of late. While the upside case has been made loud and clear, there

Dollar Mostly Strong Against Peers

The U.S. dollar firmed up against most major currencies on Thursday, reacting to the latest batch of economic data. Data from the Labor Department this morning showed first-time claims for U.S. unemployment benefits pulled back further off the record high set in late March in the week ended May 16th

Malaysia Bourse May Extend Winning Streak

The Malaysia stock market has finished higher in back-to-back trading days, rising almost 20 points or 1.3 percent along the way. The Kuala Lumpur Composite Index remains just beneath the 1,400-point plateau and it may add to its winnings on Friday. The global forecast for the Asian markets is upbea

Lower Open Anticipated For Indonesia Bourse

The Indonesia stock market has climbed higher in two straight sessions, gathering more than 35 points or 0.7 percent along the way. The Jakarta Composite Index now sits just beneath the 4,530-point plateau although it's looking at a soft start on Wednesday. The global forecast for the Asian markets

Pull-up Update