Yesterday, JPMorgan Chase (NYSE: JPM) reported that the bank's second-quarter earnings fell as a result of adding $428 million in bad loan reserves.
With this view, JPMorgan has chosen to temporarily halt its share repurchases in order to meet regulatory capital requirements.
According to a statement from JPMorgan, the reserve rise was primarily to blame for...
Technical analysis, and in particular the Range identifier Indicator, suggests a possible continuation to the downside is on the cards for GBPUSD.
The Range Identifier is a technical tool that highlights price ranges of an asset. Technical analysts will commonly use this indicator to determine price breakouts. Similar to the Darvas Box indicator, the Range...
The US dollar/ Thai baht (USDTHB) has been rallying to the bullish side. Hawkish Fed policy has remained the key source of dollar strength, but one may still wonder if the trend will continue or if it is already oversold and is bound for correction.
A unique indicator used to identify if a trend is oversold or overbought is the DeMarker indicator. The DeMarker,...
Australia’s main share index, the ASX 200, closed lower on Wednesday by 0.5%. This fall could have been a lot worse If not for technology and financial stocks mitigating the rout in other major Australian sectors.
Australian Securities Exchange’s Metals & Mining Index fell by a massive 5.6%. Heavyweights in the mining sectors, Rio Tinto (ASX: RIO), Newcrest...
Sugar is used in food, beverage, and in biofuel production, and its importance in global trade gives it a strong position in the commodity futures market. The price of sugar has surged 17% since the beginning of January 2021.
Reduced Brazil production
Sugar prices have recently been affected by production levels in Brazil, a key sugarcane producer and...
The debate over abortion reignited in the US following the Supreme Court’s decision to overturn the landmark 1973 Roe v. Wade ruling that generally protects women’s rights to abortion.
Upending five decades-old right to abortion
In a 5-4 decision, the Supreme Court on June 24 overturned the ruling that many critics say will have far-reaching consequences in...
Tesla's stock price last Friday jumped from $673.42 to $681.79, gaining 1.24% after the end of the session.
Tesla stock showed signs of range contraction during the day, making an intraday range from $666.36 day low to a day high of $690.69, the narrowest in the last seven days. The stock volume was 79% of the average volume on the previous trading day, down by...
USDMXN made a rebound this week as the USD restarted its momentum to the upside.
The US dollar has found a mild bullish impetus in Jerome Powell’s ECB forum appearance where he reiterated his hawkish outlook for the US economy. Powell believes that the US economy remains well positioned to absorb tighter credit conditions while avoiding recession and rising...
Crude oil experienced a significant drop in price over the past two weeks. This week, however, it appears the energy commodity is bouncing back to the bullish side.
The fall in the price of oil since May was triggered by the fear of a recession, in the US in particular, and numerous central banks’ moving against inflation with rate hikes, leading to slowing...
With US stocks officially entering the bear market recently and with concerns that the next recession is upon us, companies are walking another tightrope.
Consumer goods companies including big multinational brands have employed various measures to protect their profit margins and cushion the impact of skyrocketing inflation and weakening consumption. Even...
With US stocks officially entering the bear market recently and with concerns that the next recession is upon us, companies are walking another tightrope.
Consumer goods companies including big multinational brands have employed various measures to protect their profit margins and cushion the impact of skyrocketing inflation and weakening consumption. Even...
As fears that a recession is just around the corner for the US, some economists are warning that Australia could follow suit.
Some, however, remain bullish on the Australian economy due to high household savings, strong commodity exports, accommodative government stimulus and a robust pipeline of residential building constructions.
Emerging from...
The Reserve Bank of New Zealand (RBNZ), showing concern about inflation, made another 50bsp hike during May taking its Official Cash Rate to 2.0%. The hawkish tone and actions of the RBNZ paired with fears the US economy could tip into a recession by the end of the year have helped the NZD regain some composure over the past couple of weeks.
The NZDUSD made a...
This year has been no joke for the US stock market.
Of the 24 weekly candles that make up this year's chart on the S&P 500 (SPX), only 7 have finished bullish. The Dow jones Industrial Average (US30) and the Nasdaq Composite (NAS100), the US’s 2 other major indices, have followed similarly in 2022. We have not seen drastic falls like this in quite some time....
This year has been no joke for the US stock market.
Of the 24 weekly candles that make up this year's chart on the S&P 500 (SPX), only 7 have finished bullish. The Dow jones Industrial Average (US30) and the Nasdaq Composite (NAS100), the US’s 2 other major indices, have followed similarly in 2022. We have not seen drastic falls like this in quite some time....
The Sterling has appreciated almost 8.5% against the Japanese yen since May 12, and the steep climb may have begun to look overdone as the price retraces back for the past days.
BOE vs BOJ
The Bank of England (BOE) hiked its benchmark interest rate by 25-basis points during its policy meeting on Thursday to balance the risk of high inflation, but the concern...
The USDCHF can be relatively slow-moving compared to other major forex pairs. However, we have seen some significant moves since March this year. In fact, the most recent April monthly candle was the largest bodied candle in almost seven years. Albeit April’s candle moved in the USD’s favour rather than the francs. In April, The USDCHF opened at 0.922 and closed...
The Japanese yen's weakness is obvious across all its pairs, including against the Canadian dollar. The CADJPY has displayed a strong bullish uptrend after its breakout above the 92 price level, on a monthly time frame, and is now facing a historical resistance in which to overcome.
Looking at the CADJPY on the chart below, we can see that the price is currently...
