Author: Traderlogy

Weekly Recap & Upcoming Market Movers – 22th October 2018

Last Week Recap Last week the US stock market closed relatively unchanged after weeks of selling, Dow was up +0.4% while the S&p 500 was up +0.02% for the week. Markets are still jittery as investors digest the minutes from Fed’s September meeting but strong earnings from banks managed to put the brakes on the recent declines. Crude oil (WTI) prices slumped -2.9% last week as tensions between the US and Saudi Arabia escalate. US President Donald Trump speculated that “rogue killers”, and not Saudi officials may be responsible for the sudden disappearance of the US-based journalist, Jamal Khashoggi. President...

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Weekly Market Update for Straits Times Index (STI) – 15th October18

Current Trend for the Straits Time Index (STI) Finally the STI has broken down last week on heavy volume as US indices retrace from their  highs and it seems to have caught local traders by surprise by the depth of the selling which broke through the support level of 3190 mentioned in last week’s market analysis as well as the previous low of 3100. With macro factors such as rising interest rates on US treasuries as well as the stalemate in negotiations in the ongoing trade war between US and China weighing on global markets, we do expect STI...

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Weekly Recap & Upcoming Market Movers – 1st October 2018

Last Week Recap Last week as expected, the US federal reserve hiked rates for the third time this year, raising the fed funds rate by 0.25% to 2.25%. The US central bank said that it expected rates to be raised again for the fourth time this December, three times next year and one time in 2020. The US stock market fell for the week, the S&P 500 declined -0.5% while the DJIA was down -1.1%. Canada has agreed on a trade deal with the US and Mexico, keeping the NAFTA trilateral trade relation intact. The new deal is named the “United States-Mexico-Canada Agreement”....

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