By Filipe R. Costa While most hedge funds have been heavy sellers of gold during the year, China has been happily accumulating as much as it can. They’ve been able to purchase a record amount of gold, without triggering a price increase, thanks to the Fed’s tapering threat, which made investors believe the central bank…
By Dominic Picarda. The key to successful trading is letting your profits run and cutting your losses. I am always baffled by those who seem to be forever looking for things to end in tears before the party is even fully in swing. I read one piece this morning suggesting that the overly bullish state…
European markets opened slightly positively today as investors decided to start the week in a profit-taking mood. It seems investors are now putting the concerns over the US budget behind them and are instead looking forward to a break from talks of a government shutdown. Furthermore, since this matter has been put to bed for…
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By Zak Mir. U.S. Indices After The Shutdown Ends Dow: Almost perfect 200 day moving average rebound Likely bull flag above 50 day moving average at 15,165 Target towards year highs – favoured up to 2013 price channel top of 15,800 as soon as the end of October. S&P: Significantly more positive chart structure than…
Risers: Prudential, +2.97% The life insurance and financial services company has led the FTSE 100 higher following an upbeat statement overnight from Asian rival AIA. With Prudential having a strong exposure to the company, AIA reported record quarterly results and said its new business rose by 26%. The insurance sector was also helped by reports…
By George Leong. A bridge deal on the impasse and debt ceiling was reached in Washington on Wednesday. The deal will see the government reopen until January 15, and the debt ceiling will be extended until February 7 to allow both sides to try to hammer out a deal. Now of course, the agreement doesn’t…
London-listed equities have been driven significantly higher on the open in sympathy of an accelerating GDP number from China. But traders saw immediate flow out of stocks in order to capture the overnight return. This notwithstanding, the market is higher and Basic materials outperform. Gold remains supported this morning in line with the weakness…
By Dominic Picarda. The ride is well and truly back on in equities. I see every chance that it will continue for now. Seasonality is soon turning positive for the indices, while there is plenty of healthy scepticism in the air. These make for fertile conditions for an ongoing rally. The recent dip has got…
By Ben Turney. If it wasn’t for the last minute, nothing would ever get done in American politics. For the third time in a row, a compromise was reached, seeing the debt ceiling temporarily extended, the government reopen and the crisis averted. In reality, absolutely nothing of any substance was achieved last night, other than…
