Fundamental analysis
WHSELFINVEST:GBPUSD showed resilience in 2024, falling just 1% across the year. The pair experienced strong gains between April to September, rising from a low of 1.23 to a high of 1.34. However, GBP/USD fell 5% in the final quarter of the year amid notable USD strength, pulling GBP/USD from 1.34 to the 1.25 level where it trades at the...
Market Overview
The NASDAQ-100 (NDX) has recently corrected by approximately 5.5% from its all-time high of 22,133 on December 16, 2024. This comes after a historic rally driven by resilient megacap technology stocks, robust earnings, and the continued dominance of AI-led innovation.
Despite the correction, the index remains up 18% year-to-date, outpacing...
EUR/USD Talking Points
The strength from Q3 has been mostly erased so far in Q4, with a fast sell-off developing in EUR/USD.
In late-September the pair continued to grind away at the 1.1200 handle but not even a month later the pair has dropped by more than four big figures.
Support showed up at the 1.0761 level looked at on Tuesday. The big...
Gold Talking Points
The massive move in gold has continued to yet another fresh ATH this morning, even with the US Dollar continue its own bullish jump.
Trying to chase an overbought market like gold can feel like trying to jump on a rocket that’s already left the Earth, but that doesn’t mean that traders have the singular choice of fading it or...
EUR/USD has put in a very bullish outlay so far in Q3 trade. But last week saw bulls stall inside of the 2024 high and that brings questions to topside continuation in the pair.
EUR/USD continued the advance last week following the rate cut rally following the European Central Bank’s move two weeks ago. There was technical context for bullish continuation as the...
Gold Talking Points:
Gold bulls have continued to push an impressive trend throughout 2024 and there was another extension of that this morning with another fresh all-time-high.
At this point chasing fresh breakouts in gold can be seen as challenging given that it’s now showing overbought conditions on the daily, weekly and monthly charts. But – that...
S&P 500 forecast: The US stock market has shown impressive resilience following the recent volatility. Investors, thrilled by the Federal Reserve’s outsized rate cut, have pushed index futures higher. However, there are mixed opinions about what lies ahead. For now, it looks the S&P 500 will finish the week at a fresh record high.
Fed’s Rate Cut and Its Impact...
I expect gold to rise further and continue to attract buying activity on any dips. One reason is that the overall trend remains bullish, which should deter bearish speculators from acting too forcefully unless there are clear signs of a reversal.
Gold finished higher for the 7th consecutive month in August, meaning that the precious metal is now up a solid 21%...
- NZD/USD hits highs not seen since early January
- Latest leg higher fueled by big improvement in New Zealand business confidence
- Kiwi likely to outperform as long as traders continue to see a soft US economic landing
About the only thing rising as fast as dairy prices is New Zealand business confidence right now, and both are beneficial for NZD/USD which has...
Silver’s been on a nice run recently, benefitting from an easing of concerns towards the trajectory for US economy. But with the move stalling ahead of levels where it's struggled in the past, and with major risk events approaching fast, are we on the cusp of yet another bearish reversal?
Silver has rallied 14% from the early August lows
It has been...
Tuesday’s UK Construction PMI came in above expectations at 55.3, the highest reading in more than two years
Time will tell whether traders are overly optimistic that the BOE will be able to cut rates relatively slower than its major rivals or whether more rate cuts still need to be discounted
GBP/USD’s bias remains to the downside and traders may...
Shinichi Uchida, Deputy Governor of the Bank of Japan (BOJ), says the bank won’t hike interest rates when markets are unstable, delivering a clear message on what traders need to do to prevent them doing so again: create volatility.
It’s an amazing statement, signalling the BOJ can and will be bullied by markets to avoid doing what is right for the Japanese...
With tentative signs of stablisation in commodity futures and US equity index futures pushing higher in early Asian trade, the prospects for some form of squeeze higher in AUD/USD appear to be growing.
You can see just how violent the selloff has been over the past two weeks, leaving it oversold on RSI (14) for the first time since August 2023. But the modest...
Approximately a week ago, Elon Musk cautioned Bill Gates against shorting Tesla stock, suggesting potential negative consequences. However, the situation has shifted, with Tesla's stock price experiencing a significant $20 drop following the release of its earnings report in the aftermarket.
Tesla's Q2 2024 results were a mixed bag, leaving many questions...
The EUR/USD poked its head above the June high of 1.0916 to reach its best level since March, after the US Empire State Manufacturing Index came out weaker than expected earlier. The US dollar has remained under pressure against most major currencies, albeit not so much against the likes of the New Zealand dollar following last week’s dovish RBNZ meeting. Still,...
Trump Media & Technology Group Corp's stock surged following news of an attempted assassination on major shareholder Donald Trump at a political rally on Sunday.
Given the fervent nature of Trump's supporters, it's plausible that voters could turn to their wallets before casting ballots in November as the presidential race heats up. Drawing parallels to the...
July 2024: Shopify's shares took a heavy hit in May after a moderate Q1 earnings report which might have beaten investor consensi, EPS by $0.04 & revenue by $20 mio, yet this was not enough to prevent a large selloff. The share price is currently recovering and is now trading 4,5% higher than it did 12 months ago. This is partly thanks to the analyst from Goldman...
Nvidia (NVDA) continues to defy gravity, hitting $140 in pre-market trading today.
This translates to:
A 23% increase in June alone
A 55% increase in Q2
A staggering 184% increase since the beginning of the year
A 225% year-to-date (YTD) surge
These are the kinds of figures we've come to expect from Nvidia, making even impressive YTD gains of 27% by companies...
