Day: September 7, 2020

Trump touts big job gains, says the U.S. is ’rounding the corner’ on the coronavirus
Business news

Trump touts big job gains, says the U.S. is ’rounding the corner’ on the coronavirus

U.S. President Donald Trump listens to a question during a news conference at the White House in Washington, September 4, 2020. Leah Millis | Reuters President Donald Trump predicted a sharp economic rebound next year and said Monday the U.S. is "rounding the final turn" on the coronavirus pandemic. Speaking to reporters from the North Portico of White House, Trump touted the most recent nonfarm payrolls report that showed a sharp drop in the unemployment rate and said that if he is not re-elected, the pandemic rebound will come to a halt. "We're currently witnessing the fastest labor market recovery from an economic crisis in history," he said. "Next year will be the greatest economic year in the history our country, I project." Trump spoke three days after the Labor Depart...
9 Lessons from trading coach Mandi Rafsendjani – Trading Podcast
Forex

9 Lessons from trading coach Mandi Rafsendjani – Trading Podcast

In our latest podcast (click for all episodes) we talked to Mandi Rafsendjani and we went really deep into trading psychology, the mindset and how traders can become successful. Below the video, I compiled the 9 most insightful take-away messages that I got from talking to Mandi. 1. Fill all your buckets The best traders lead a balanced life and do not derive their self-worth from trading alone. This will help you push through hard times when your trading results are not what you imagine them to be. Make sure that you have a supportive social environment, look after your family, surround yourself with people that add positivity to your life. Take care of your health, do sports and fuel your body with good food. Have hobbies, try out new things and explore your interests. Feed your mi...
How to Profit From Inflation with 4 Quality Assets
Investing, Online Trading

How to Profit From Inflation with 4 Quality Assets

Inflation can be a good or bad thing depending on your perspective. However, knowing how to profit from inflation is a great way to protect your money and even increase your wealth. What is Inflation? Inflation occurs when goods and services rise, making them more expensive relative to the amount of money you make. There are several definitions of inflation, but most surround a basket of goods and services that are used every day. Economists will often remove food and energy from their inflation calculations, to smooth the volatility. The factors that generally drive inflation are rent equivalents, which are the costs to own or rent a home, as well as, labor costs. When inflation begins to rise, which can be measured using the Consumer Price Index or the Federal Reserves’ favorite gau...
DeFi boom leaves former altcoin darlings in the dust — But for how long?
Crypto News

DeFi boom leaves former altcoin darlings in the dust — But for how long?

The rapid popularity and investment growth observed in the Decentralized Finance (DeFi) sector has reflected heavily on the price charts with DeFi and yield-related tokens like Yearn.finance (YFI), Aave (LEND), and others rallying to their all-time highs in 2020. YFI alone has surged 10x since listing. In fact, most high-profile DeFi-related tokens have outperformed Bitcoin (BTC) and other altcoins by a long stretch. Even governance and infrastructure projects like Chainlink (LINK) and UMA, the latter of which became one of the largest DeFi protocols in September, were eclipsed by DeFi tokens. As so, with all eyes set on DeFi projects and smart contract platforms like Ethereum (ETH) and Cardano (ADA), a few sectors in the cryptocurrency world appear to have been left behind. Most noticea...
Future Enterprises Q4 results: Reports net loss of Rs 395 cr
Stock News

Future Enterprises Q4 results: Reports net loss of Rs 395 cr

NEW DELHI: Future Enterprises Ltd on Monday reported a consolidated net loss of Rs 394.77 crore for the fourth quarter ended March 31, 2020. The company had posted a net profit of Rs 66.58 crore in the January-March quarter a year ago, Future Enterprises Ltd (FEL) said in a BSE filing. Recently, the board of FEL has approved amalgamation of the Future Group entities with the company to facilitate Rs 24,713 crore deal to sell the retail and wholesale business to Reliance Retail, owned by oil-to-chemical conglomerate Reliance Industries Ltd. Its revenue from operations was down 50.01 per cent to Rs 783.28 crore during the quarter under review, as against Rs 1,566.96 crore in the same period last fiscal. FEL's total expenses stood at Rs 1,174.77 crore, compared to Rs 1,524.68 crore, down...
Verbal Intervention Will Not Stop the Euro
Forex News

Verbal Intervention Will Not Stop the Euro

EURUSD has been held on Monday in a narrow range of 1.1800-1.185 which formed in the last week. Unwinding of long positions in equities backed by algo-driven shorts wasn’t accompanied with USD advance as it happened in the past which indicates, in my view, almost complete lack of fundamental indications for greenback growth. Looking from a different angle at this we can note that stocks retreated without typical response in the fixed income market – rise in junk bond yields. This clearly shows that the Fed suppressed strong demand factor for USD (“safe haven feature”) with aggressive easing and renowned inflation commitments: When the S&P 500 falls, the yields of junk bonds often rise (i.e. bonds get cheaper), however, last week retracement, as we can see, was different. US jobs m...
Bitcoin price hits $9.8K as quest to fill futures gap sees 6-week lows
Crypto News

Bitcoin price hits $9.8K as quest to fill futures gap sees 6-week lows

Bitcoin (BTC) hit fresh lows on Sep. 7 as renewed selling pressure saw the largest cryptocurrency return to the $9,800 range. Cryptocurrency market daily snapshot, Sep. 7. Source: Coin360 Analyst eyes BTC price bottom at futures gap Data from Coin360 and Cointelegraph Markets showed more trouble for BTC/USD on Monday, the pair hitting $9,880 — its lowest since July 26. BTC/USD 1-day price chart. Source: Coin360 After mixed performance over the weekend, $10,000 looked increasingly shaky support, something that analysts warn could be pivotal in the short-term. Discussing the current market, Cointelegraph Markets analyst Michaël van de Poppe said that the outlook hinged on two gaps in CME Group’s Bitcoin futures markets. As Cointelegraph reported, the two gaps are at $9,700 and $10...
‘We’re certainly in a bubble,’ strategist warns — but don’t expect it to pop anytime soon
Business news

‘We’re certainly in a bubble,’ strategist warns — but don’t expect it to pop anytime soon

Tech stocks are unequivocally in "bubble" territory, a chief investment officer told CNBC on Monday, but that's not to say the recent "tech wreck" is going to continue in the short term. U.S. stocks closed lower for the second consecutive session on Friday, bringing an end to a volatile trading week ahead of the long Labor Day weekend. The S&P 500 tech sector fell more than 4% for the week, intensifying speculation that the stock market shakeout was likely not over yet. The space had largely been responsible for the broader market's strong comeback off its coronavirus lows. "I think we are certainly in bubble territory," Jonathan Bell, chief investment officer at Stanhope Capital, told CNBC's "Street Signs Europe" on Monday. Bell suggested there had been "so many good reasons" fo...
Precious Metals Monday – 07-09-2020
Forex News

Precious Metals Monday – 07-09-2020

Gold The gold market was seen moving lower across last week as the rally in the US Dollar exerted firm downward pressure. The greenback had been driven higher over the week in reaction to a broad range of positive economic releases. With both the ISM manufacturing and non-manufacturing readings showing strength on the prior month sentiment moved swiftly in favour of the Dollar into the middle of the week. This positive sentiment was then extended into the back end of the week, firstly by a weaker-than-expected set of weekly jobless claims and finally by a positive set of US labour reports on Friday. The US labour readings on Friday were under close scrutiny following the fall back in jobs growth seen over the prior month. While the headline reading itself slightly undershot expectations ...
How to Trade the Rising Wedge Pattern
Online Trading, Technical Analysis

How to Trade the Rising Wedge Pattern

One of the most effective setups for profitable trading opportunities is the rising wedge pattern. Wedges form as a stock’s price movements tighten between two sloping trend lines that are drawn like a triangle. Many day traders are probably already familiar with rising wedge patterns (opposite of falling wedge patterns) as they are quite common in the stock market as well as futures and foreign exchange markets. The rising wedge, also known as ascending wedge, can be incredibly reliable and has the potential to generate huge profits if traded correctly as we explain in this blog post. Rising Wedge – What is it? A rising wedge is a bearish stock pattern that begins wide at the bottom and contracts as trading range narrows and the prices move higher. This indicates slowing momentum ...