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Using UKOil (FXCM’s Brent CFD) as a general reference, the heat that drove oil prices in August and September has declined. The stochastic, a measure of momentum, has dropped below 80 and is angled down (red rectangle). Last week’s candle looks to have charted a lower peak, hinting at the cooling down in the energy market. However, to confirm the lower peak, this week’s candle will need to close below…
The US 10-year Treasury yield is trading at 4.97%, just shy of the psychological 5% level. This is likely to weigh on the stock market. In effect, the higher interest rates mean that yields on risk-free treasuries have increased making them compelling to investors. Even those sitting in cash will feel the benefit of the higher yields. Moreover, with these type of returns from yielding assets, it will discourage investing…
Less than a month after the Bank of England had paused its tightening cycle, emboldened by progress on price pressures, today’s data showed that inflation is sticky, keeping further tightening in play
Last week’s movement by gold has changed its technical position. The candlesticks have moved above the 30-week EMA and the EMA has bullishly turned up. Moreover, the weekly RSI has popped above 50 (green rectangle) which is the bullish side of the indicator. The longer it maintains above 50, the greater the momentum support for the yellow metal. Another positive is that gold’s candlesticks have broken out above the green…
UKOil retraced significantly towards its end-of-August low (green dashed horizontal) before finding support. Monday saw significant upside when the market opened following Saturday’s brutal attack by Hamas on Israel and the start of a new Middle East conflict. Nerves still abound that the conflict may spread in the region affecting supply lines, and risk premiums are keeping the oil price supported.
HKG33 stays under pressure as today’s data from China showed non-existent consumer inflation for September, while markets continue to monitor developments around the troubled property sector
The sell-off in the bond market is accelerating today. This, in turn, is driving yields higher. The US 10-year yield traded as high as 4.88% and the real yield as high as 2.52%. These levels were last seen around 2007 and 2008 respectively.
The Bank of England got some encouraging news ahead of Thursday’s decision, as inflation eased in August according to today’s data and the UK index reacted higher
After a constant stream of poor economic data, today’s releases offer a glimmer of hope around China’s faltering recovery, helping HKG33, along with new supporting actions by the central bank
Sino-Western relations have deteriorated this year and the tech industry is front and center, but now the EV industry emerges as the next area of contention, as the EU announced an anti-subsidy probe
The pair slid on Monday after the Bank of Japan governor opened the door to an eventual hike, but finds support today ahead of key economic data
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