The Nasdaq 100 has long been outperforming the Dow Jones Industrial Average (DJIA) during the major uptrend phase. However, this trend seems to be changing as there has been a recent bullish rotation into the laggard, DJIA. This rotation is considered a positive breadth development for the US stock market. In this analysis, we will
The US dollar saw a significant rally during Tuesday’s trading session, breaking above the 142 yen level. This movement has sparked hope among traders, suggesting a potential resurgence for the struggling currency. However, there are still hurdles to overcome before the dollar can fully recover. To solidify its upward trajectory, the USD needs to break
The silver price (XAG/USD) is experiencing difficulties in maintaining its position above the significant resistance level of $24.00. This struggle is occurring amidst an increase in demand for safe-haven assets. Investors are displaying cautious behavior ahead of key events such as the release of the FOMC minutes, Manufacturing PMI data, and labor market information. The
The Pound Sterling (GBP) continues to face considerable pressure as the S&P Global UK Manufacturing PMI data remains below consensus. This indicates that UK factory activities have remained subdued due to weak demand from both the domestic economy and export markets. The recent data release shows that the Manufacturing PMI remains below the 50.0 threshold
The GBPUSD currency pair has recently experienced a surge in value, reaching a four-month peak. However, despite this positive momentum, it has also faced some setbacks along the way. Prior to its current upward trajectory, GBPUSD broke above a significant descending trendline in early November, signaling a potential shift in its overall performance. This bullish
In late 1976, Mohammad Yunus embarked on a mission to alleviate poverty in Bangladesh’s port city of Chittagong. He introduced the concept of microfinance and began offering small loans, as low as $100, to empower women and protect them from exploitative moneylenders. This initiative marked the beginning of a microfinance movement that would eventually spread
Traders keeping a close eye on EURNZD have noticed the presence of incomplete bearish sequences in the cycle from the peak on August 21st. This has led to a bearish outlook for the pair, with a target of 1.7329 area. Traders have been advised to avoid buying and instead focus on short positions. A recent
Indonesia has taken significant measures to reduce its 2023 budget deficit, signaling a commitment to economic stability despite challenges in the global economy. The finance minister, Sri Mulyani Indrawati, announced that the deficit has been lowered to 347.6 trillion rupiah ($22.48 billion), equivalent to 1.65% of gross domestic product (GDP) based on unaudited figures. Indonesia’s
Gold price (XAU/USD) has started the new year on a positive note, reversing a major part of its recent losses. The precious metal remains in a modest uptrend, benefiting from dovish Federal Reserve (Fed) expectations and geopolitical risks. However, the rising US bond yields and a stronger US dollar may pose challenges to further gains
BYD, the Chinese electric car company, announced on Monday that it has produced over 3 million new energy vehicles in 2023. This puts BYD on track to surpass Tesla’s production for the second consecutive year. While Tesla has not yet released its full-year figures, it stated that it produced 1.35 million cars during the first
Bitcoin’s price has experienced a resurgence following rumors of the approval of a spot ETF. The cryptocurrency broke out of a major declining channel on the 4-hour chart, surpassing the $43,000 resistance level. This bullish movement has signaled a potential upward trend. After breaking multiple hurdles, including the 100 simple moving average (red, 4 hours)
The UK manufacturing sector, which contributes less than 30% to the UK economy, holds significant importance in determining the state of the national economy. Recent signs of a deteriorating sector align with expectations of a UK recession. However, a closer look at the sub-components of the sector provides valuable insights for investors. Prices, Employment, and