The coronavirus outbreak and the economic fallout will continue to be the main driver of the markets this week. Although the number of cases in China is falling, the situation is worsening outside the Asian nation. The US overtook China last week as the nation with the most confirmed virus cases. Numbers of cases in […]
Continue ReadingDaily life came to a screeching halt the past week as governments, businesses and consumers took drastic steps to halt the COVID-19 pandemic. Most governments closed schools and cancelled events and flights, some of them imposed country-wide lock-downs, and some declared a national emergency to combat virus outbreak. And in an attempt to limit-down the […]
Continue ReadingThe exceptional stimulus measures by the Fed and other central banks reveal the depth of the crisis facing the world and the financial system today. In less than two weeks, the Federal Reserve cuts interest rates to 0% (150 basis points), and injected 2.2 trillion dollars of liquidity into the markets. But unfortunately, markets reacted […]
Continue ReadingThe Coronavirus outbreak is expected to continue to be the main theme in the markets, as the number of virus cases outside of China are accelerating fast with no sign yet that the outbreak is close to peaking. Last week the United States, France, Italy, Germany and the United Kingdom have all reported huge increases […]
Continue ReadingWill Euro rally lose steam? From a technical viewpoint, the long-term path on the weekly chart is still bearish, while in the medium-term and short-term windows the euro has reached a very important resistance area near 1.1200 and entered the overbought borders. Such conditions indicates that there’s little scope for more gains, and suggest a […]
Continue ReadingThe spread of the coronavirus outside of China has frightened markets last week. The number of infections outside China continued to explode, particularly in Italy and japan. And heightened fears that the virus turns into a pandemic and sparks a global recession, tormented financial markets. All major stock market indices melt down 10%-15% from all-time […]
Continue ReadingThe coronavirus outbreak is expected to remain the main driver in the market this week. Sentiments are expected to remain sensitive to any virus-related news, with not much on the economic calendar to enthuse markets. The last week began with disappointing news, US tech giant, Apple Inc, issued a rare profit warning on Monday, saying […]
Continue ReadingGold stretched its upside rally and hit a fresh 7-year high. Having surged by about 6% since the beginning of the year, and as we indicated last week, the precious metal look to be headed towards the 1625$-1635$ area. Gold’s strength was confirmed last year after the break of the 1360$ resistance area and the […]
Continue ReadingBitcoin bulls likely to keep control After the spectacular rally last year, bitcoin entered a dwonward corrective phase forming a falling wedge. The falling wedge is a Bullish Wedge that have a noticeable slant to the downside against the prevailing uptrend. The breakout of the upper trendline of the pattern at 8000 opened the door […]
Continue ReadingThe past week, Coronavirus outbreak continued to attract all the attention. First US equities reached another record level on the back of a declining number of newly infected people. Then on Thursday, the rally in global equity markets came to a halt after the latest virus numbers showed a sharp spike in both infections and […]
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