Tightening monetary conditions in developed countries are not hurting gold so far, and investors’ switch from buying risky stocks generates demand for the safe-haven. The daily charts also clearly show gold being repurchased in downturns. Read more…
Canada’s merchandise trade balance slipped back into a deficit of $137 billion in December from a $2.5 billion surplus in November. Merchandise exports were down 0.9% (month/month), while imports rose 3.7%. Imports rose in 8 Read more…
The U.S. trade deficit widened to $80.7 billion in December from $79.3 billion in November. Total exports (goods and services) increased by 1.5% (+0.3% in November), while imports rose 1.6% (+4.6% in November). Goods exports Read more…
Elon Musk’s company suffered an impairment loss of $101 million in 2021 linked to bitcoin, but it continues to believe in the future of crypto. The recent tremors in the crypto market haven’t changed Tesla’s Read more…
Daily Pivots: (S1) 1.1414; (P) 1.1440; (R1) 1.1465; More… Intraday bias in EUR/USD remains neutral at this point. A medium term bottom could be in place at 1.1120, on bullish convergence condition in daily MACD. Read more…
KPMG in Canada, an affiliate of one of the Big Four accounting firms, adds bitcoin and ethereum to its corporate treasury. Bitcoin and ethereum received a ringing endorsement after KPMG in Canada said it had Read more…
Daily Pivots: (S1) 1.3499; (P) 1.3527; (R1) 1.3564; More… Intraday bias in GBP/USD remains neutral and outlook is unchanged. On the upside, break of 1.3627 will resume the rebound to 1.3748 resistance. Firm break there Read more…
Daily Pivots: (S1) 0.9218; (P) 0.9240; (R1) 0.9258; More…. Intraday bias in USD/CHF remains neutral and outlook is unchanged. Further rise will remain mildly in favor as long as 0.9090 support holds. break of 0.9372 Read more…
Daily Pivots: (S1) 114.89; (P) 115.13; (R1) 115.35; More… Intraday bias in USD/JPY remains neutral for the moment as range trading continues. Overall, consolidation pattern from 116.34 is still extending. On the upside, break of Read more…
Morgan Stanley analyst Adam Jonas cut his rating on price target on GM in what he called ‘the most significant estimates reduction” for the carmaker in two years. Updated at 9:31 am EST General Motors Read more…