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  • Squawk / 8 hours ago
    Senior Analyst /
    Saint Vincent and the Grenadines
    Weekly Trading Forecasts on Major Pairs (November 30 – December 4, 2015)

    Dominant bias: Bearish
    EURUSD only consolidated to the downside last week, in the context of a downtrend. There are resistance lines at 1.0750 and 1.0800, which could check rally attempts. There are also support lines at 1.0500 and 1.0450, which are the targets for bears, since further bearish movement is possible. Any rally attempts that happen in the market should be taken as false breakouts. It is expected that the Euro would be weak in December, and so EUR pairs would be bearish in most cases.

    Dominant bias: Bullish
    This pair managed to go upwards by an addition of 100 pips last week – in solidarity with the extant bullish bias. Since the great psychological level at 1.0000 has been breached to the upside, price has moved northward by 300 pips, testing the resistance level at 1.0300.

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  • Editor’s Picks / Yesterday at 13:13 GMT

    UK to outspend US over the holidays: ING poll

    A new survey released by ING indicates that Britons are preparing to outspend their US counterparts this holiday season. According to the polls, the UK tops the 14-country "Christmas Spending League" with the average Brit planning to spend $440 this holiday season (the average American is looking to drop $382 on holiday-related purchases). According to ING's Martha McKenzie-Minifie, "the fact that Thanksgiving and the Black Friday sales are so close to Christmas could well contribute to the [result]". At the bottom of the league? Germany, Australia, Ialy, and Spain, where consumers are planning $200 worth of holiday shopping.
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  • Trade view / Yesterday at 8:33 GMT
    Medium term

    Still bullish on ExxonMobil stock

    Trader /
    United States
    Shares of oil-related stocks bounced sharply off their August and September lows along with the broader stock market while decoupling from the price of oil, which until earlier this week was still pushing lower. Oil, however, increasingly looks ready to push higher in the near to medium term, which should also further help stocks like ExxonMobil.
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  • Editor’s Picks / Yesterday at 5:23 GMT

    Can India revive the iron ore market?

    As India embarks on an aggressive drive to become a manufacturing powerhouse and revamp its ailing infrastructure, Asia's third-largest economy may emerge as bright spot for iron ore demand. Nyshka Chandran writes the nation's potential growth could be the long-awaited catalyst to knock beleaguered iron ore prices out of its bear market. Imports are already on the rise, hitting a record of more than 15 million tonnes during the 2014-15 financial year. A 2011 ban on domestic mining in the mineral-rich states of Karnataka, Odisha and Goa led to a severe supply deficit, paving the way for imports. While the ban has since been lifted, output caps have been imposed, which should further underpin import growth.
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  • Editor’s Picks / Yesterday at 4:05 GMT

    Will the Samarco disaster drag BHP back to its teens?

    The Sydney Morning Herald
    When BHP Billiton divested South32 in May, the debate was whether investors should get used to BHP shares trading regularly below $A30. Just seven months on, BHP shareholders were contemplating life below $A19 per share when the stock touched $A18.92 on Thursday. Commonwealth Bank analyst Andrew Hines said commodity prices were low enough to start contemplating some extraordinary outcomes for mining companies like BHP. "A scenario in which commodity prices remain at depressed spot levels for three years before recovering to mid-cycle levels in 2025 generates a valuation of $A14.80 per share," he said in a note to clients. BP was infamously rocked in 2010 by the 'Deepwater Horizon' disaster. BHP shares have returned above $A19 per share on Friday morning on the back of some small rises in commodity prices overnight. Few seem willing to call the bottom for BHP shares. JP Morgandowngraded its price target for BHP shares from $A27 to $A18.
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  • Article / Thursday at 23:34 GMT

    Today's Trade: ASX rallies on European lead

    Trading Desk / Saxo Capital Markets
    Today's Trade:  ASX rallies on European lead
    Local markets opened slightly higher across the board. BHP surprised by also being in the green despite JPMorgan's downgrade of the stock. Markets were generally quiet overnight with the US closed for the Thanksgiving holiday. In commodities, oil fell in New York for the first time this week as fears of Russian military retaliation against Turkey dissipated; copper jumped as much as 4.2% while aluminium rose the most since early October.
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