Toward the end of May, our long term (12-month) target for BAW was reached. Since then, the stock has retraced, overshooting the incline support however trading within the 50/61.8% Fibonacci…
Gold was down on Thursday morning in Asia, remaining close to a one-week low. A strengthening dollar and increasing risk appetite as concerns over surging COVID-19 cases abated, both decreasing the yellow metal’s appeal to investors.
The dollar was up on Thursday morning in Asia but climbed down from multi-month highs, as strong earnings boosted global stocks and increased investor risk appetite.
Oil was down Thursday morning in Asia, as the U.S. Energy Information Administration (EIA) confirmed a surprise draw in U.S. crude oil supplies and soaring COVID-19 cases globally dampen the fuel demand outlook. However, the black liquid held on to most of its gains from the previous session over expectations that supplies will remain tight through the end of 2021.
Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the U.S. economic recovery fueling a risk-on rally.
Asian stocks rallied on Thursday, bonds nursed losses and oil held onto sharp gains as investors seemed to set aside virus jitters for now and looked ahead to the European Central Bank for reassurance that policy support will continue for some time.