The following technical analysis video for Nvidia Corp. stock shows that despite the bears looking good with the existing downtrend, bulls can start planning a series of buys, and set buy orders at lower prices, as they target a reversal. I have invented this method which I have not seen anywhere else. I call it
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The Atlanta Fed third quarter GDP tracker jumped to 2.4% from 0.3% in today’s release. “After recent releases from the US Bureau of Economic Analysis and the US Census Bureau, the nowcasts of third-quarter personal consumption expenditures growth and third-quarter gross private domestic investment growth increased from 0.4 percent and -7.6 percent, respectively, to 1.0
The Securities and Exchange Board of India (Sebi) on Thursday came out with the framework for foreign investors to participate in exchange-traded commodity derivatives. The regulator said foreign portfolio investors (FPIs) will be allowed only in cash-settled non-agricultural commodity derivative contracts and indices. FPIs other than individuals, family offices and corporates may participate in commodity
USD/CHF prepares to finish the week with decent gains of 0.65%. The weekly chart depicts the pair as neutral-to-upward biased, further extending the uptrend but unable to crack 0.9900. The USD/CHF daily chart portrays the major as upward biased, and once it clears the 0.9886 mares, the 0.9900 figure would be next. The USD/CHF finished
Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued an apology to the users while efforts to track down and recover the stolen funds are underway. “We are deeply sorry,” stated Transit Swap while revealing
The major US stock indices are paying back their gains. The Dow industrial average has turned back negative on the day. It currently is down -92 points -0.32% at 29133.24. The S&P index is near unchanged at 3641.88 after trading as high as 3671.44 The NASDAQ index is still positive by about 47 points or
ABC Australia is reporting that a major investment bank is on the brink, citing ‘a credible source’. Most are pointing towards Credit Suisse. It was caught out in the Archegos disaster and since then (Feb 2021) its share price has spiralled to $3.90 from $14.90. Moreover, the credit default swaps are at distressed levels. A
The rate paid for gas produced from old fields, which make up for about two-thirds of all gas produced in the country, was hiked to USD 8.57 per million British thermal units from the current USD 6.1, according to an order from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC). Simultaneously, the price of
Sterling surprisingly ended as the best performer last week, as it staged an impressive U-turn after initial selloff. BoE’s intervention should have saved the Pound for now. The development also helped Euro rebound while Dollar trailed behind as third. Rally in Dollar looked a bit exhausted as it failed to ride on intensifying risk-off sentiment.
GBP/JPY registered hefty gains of 3.96% during the week. Long-term, the GBP/JPY is neutral upwards, though if it clears 162.57, that could open the door for further gains. Per the daily chart, if the GBP/JPY clears 162.25, the pair can rally towards 164.00. The GBP/JPY advanced for the fourth straight day and reclaimed the 200-day
In March, Elon Musk officially started the process of acquiring Twitter for $44 billion. Some people believe that Musk’s contract was a mistake on his behalf, and they point to the fact that he is eager to expose his dirty laundry in court in order to get out of it as proof of this. After
Markets: Gold up $1 to $1661 US 10-year yields up 6.1 bps to 3.81% WTI crude oil -$1.52 to $79.71 S&P 500 down 55 points, or 1.5%, to 3585 GBP leads, NZD lags Close the books on a brutal month and quarter. There was nowhere to hide with a nearly 10% decline in stocks in
Commodity prices are in a turmoil and financial and currency markets are volatile since the start of the Russia-Ukraine conflict. Policy tightening measures of central banks, strong US currency, and fears of recession hindered global economic activities. Since the Russian invasion of Ukraine, aluminium has lost its steam shedding prices to a one-and-a-half-year low. Prices
Inflation in August was stronger than expected despite the Federal Reserve’s efforts to bring down prices, according to data Friday that the central bank follows closely. The personal consumption expenditures price index excluding food and energy rose 0.6% for the month after being flat in July. That was faster than the 0.5% Dow Jones estimate
EUR/USD trips down ahead of the end of the week, month and Q3. US Fed officials continued with their “restrictive policy” rhetoric, agreeing that further hikes are coming. US Core PCE surpassed analysts’ expectations, paving the way for another 75 bps Fed hike. EU’s inflation jumped above the 10% threshold, and money market futures expect
United States Senator Bill Hagerty, a member of the Senate Banking Committee, introduced legislation seeking a safe harbor for cryptocurrency exchanges from “certain” Securities and Exchange Commission (SEC) enforcement actions. The Digital Trading Clarity Act of 2022, introduced by Sen. Hagerty, aims to provide regulatory clarity around two primary concerns plaguing crypto exchange establishments —
The last week was certainly a volatile one for the major currency pairs. The GBPUSD saw the biggest movement falling to the lowest level on record, and the EURUSD also reached to a new low for the year and lowest level since 2002. What about the other pairs? Moreover, how did the pairs end the
September is typically a seasonally weak for the US stock market , and it didn’t disappoint this month. The major stock indices are going out at the lows for the day, month, quarter. For the Nasdaq , the index is closing at the lowest level since July 2020. The Dow is closing at the lowest
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