Month: July 2022

Technical Analysis

Ethereum technical analysis

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Old school technical analysis says that price itself is the most inportant technical indicator. Some claim that the most important part of technical analysis lies in the price itself, as it travels through time. ETH, in terms of technical analysis, is also a potential bear flag. Bear flags extend/continue a downward trend. The bear flag
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News

China official July Manufacturing PMI falls from June, and back into contraction. Again.

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Official PMIs come from the China National Bureau of Statistics and the China Federation of Logistics and Purchasing. For July: Manufacturing 49.0, its lowest in 3 months and back into contraction expected 50.3 and prior 50.2 China’s NBS attributes the result, according to statements reported in State media (Xinhua), to traditional production off-peak period, insufficient
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News

Fed rate hikes and strong US greenback sent gold to multi-month lows

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Gold lost its glitter due to a strong US greenback and hints of more interest rate hikes from the US Federal Reserve that pushed investors away from the precious yellow metal. The London spot gold corrected more than 18 percent from its recent high of $2070 which it hit in March, to a near one
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Economy

The economy may look like it’s in recession, but we still don’t know for sure

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In an aerial view, shipping containers sit idle at the Port of Oakland on July 21, 2022 in Oakland, California. Truckers protesting California labor law Assembly Bill 5 (AB5) have shut down operations at the Port of Oakland after blocking entrances to container terminals at the port for the past four days. An estimated 70,000
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Finance

Apple beats on revenue and profit, expects growth to accelerate despite ‘pockets of softness’

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In this article AAPL Apple reported fiscal third-quarter earnings on Thursday that beat Wall Street expectations for sales and profit but showed slowing growth for the iPhone maker.   Apple stock rose over 3% in extended trading. Here are the key numbers compared to what Wall Street was expecting, per Refinitiv estimates:   EPS: $1.20
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FX

GBP/USD Price Analysis: Stills bearish on buyers failure at 1.2220

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GBP/USD extends its gains to two straight weeks, gains some 1.49%. From a daily chart perspective, the GBP/USD is still downward biased, facing solid resistance around 1.2200. GBP/USD Price Analysis: Unless buyers reclaim 1.2245, the pair remains tilted downwards. The British pound finished the week on the right foot and recorded its second consecutive week
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Blockchain

Crypto pumps after Fed rate hike, Zuckerberg pins hopes on Metaverse making hundreds of billions and Tesla posts $64M BTC gain: Hodler’s Digest, July 24-30

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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week ‘Bullish rate hike’ — Why crypto spiked in the face
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Technical Analysis

Major stock indices pushing back to early session highs. NASDAQ index moves above 100D MA

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The major US indices are pushing the early session highs after a dip lower after the open. Dow industrial average is making new highs up to 32769.29. S&P reached a new high at 4122.80. The prices up 48.72 points or 4121.21 NASDAQ index reached a new high of 12356.91. It currently trades at 12352.96 up
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News

Key events and releases next week highlighted by the US employment & rate decisions

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With the month of July ending today, next week will start the new trading week for August. Still a summer month, trading may be impacted by vacation/holidays. Nevertheless there is enough data events scheduled including key jobs reports that of Canada and US, and interest rate decisions by the Reserve Bank of Australia and the
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News

Oil prices rise on tight supply as attention turns to OPEC+ meeting

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Oil prices gained about $1 in early trade on Friday, lifted by supply concerns and a weaker U.S. dollar as attention turns to what OPEC and allies including Russia agree at a meeting next week marking the end of their 2020 output reduction pact. U.S. West Texas Intermediate (WTI) crude futures for September delivery rose
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News

Yen Overwhelmed Dollar on Falling Benchmark Yields

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Dollar ended broadly lower last week, as the worst performer, as hammered by the events of FOMC meeting and GDP release. In short, Fed chair has signalled slower tightening pace ahead and the message was reinforced by another quarterly GDP contraction print. Whether the US was already in recession or not, Fed is turning from
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Economy

Watch Treasury Secretary Janet Yellen talk live about the state of the U.S. economy

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[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Treasury Secretary Janet Yellen speaks Thursday at a news conference on the state of the U.S. economy. Yellen’s comments follow news that the U.S. economy contracted for the second consecutive
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Finance

Intel CFO says we’re ‘on the bottom’ after company misses earnings and stock sinks

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In this article INTC Intel shares sank as much as 10% in extended trading on Thursday after the chipmaker reported second-quarter results and quarterly and full-year guidance that fell short of analysts’ expectations. Here’s how the company did: Earnings: 29 cents per share, adjusted, vs. 70 cents per share as expected by analysts, according to
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FX

S&P 500 reclaims the 4000 mark, as US equities record its best month since 2020

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The three major US equity indices advanced between 0.97% and 1.88%. A risk-on impulse since last Wednesday underpinned US equities, lifted by US corporate earnings of Amazon and Apple. The US Dollar Index fell below 106.000, while the US 10-year T-note yield finished around 2.654%. US equities finished the week on a higher note, as
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Technical Analysis

WTI crude oil futures settle at $98.60

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The price of WTI crude oil futures are settling at $98.60. That’s up $2.20 or 2.28%. The high price reached $101.87. The low price extended to $96.42. The price got a boost on the break of the $100 level, but could not sustain the momentum. Crude oil rotate back lower after run above $100 stalls
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News

US stocks close the month with strong gains

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The major stock indices are ending with solid gains for the day: Dow industrial average rose 315.50 points or 0.97% at 32845.14 S&P index rose 57.86 points or 1.42% at 4130.28 NASDAQ index rose 228.10 points or 1.8% at 12390.70. That’s a largest increase cents April 2020 Russell 2000 rose 12.20 points or 0.65% at
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News

Gold gains further ground as Fed’s tightening debate intensifies, more volatility ahead

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Gold along with other commodities rose for the second consecutive week as the US dollar dipped deeper into the red territory. The commodity US dollar inverse relation has strengthened further in the last few days and trends in the US dollar may continue to remain the key price determining factor as market players try to
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Economy

There is deflation in some items as Wingstop notes dropping chicken wing prices

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In this article QSR-CA YUM PPC NDLS WING Spicy chicken wings. Gado | Archive Photos | Getty Images Three months ago, Wingstop put a shocker in its earnings release: It was seeing DEFLATION in bone-in chicken wing costs. The chicken chain reiterated the trend with its latest results Thursday morning and its stock rallied 20%
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