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Article / 20 minutes agoThe Saxo Trade Navigator provides you with daily technical insight into almost 200 instruments ranging from FX to equities, commodities and bonds.Read the article
Squawk / 49 minutes agoEuroSTOXX 50 Future ($FESX_F) Re-energizes Bull Theme; Targets 3175/85
European benchmark average bullish shift through 3134
• We stated in our last client report that “the bias into Tuesday and midweek is for a push up to challenge 3134, with a break here becoming more likely” and the push above here highlights a shift to a more bullish tone again.
• Above 3134 now aims up to modest resistance at 3148, but with real risk this week back to challenge the 3175 cycle high and key long-term retrace target at 3185.
• Overshoot risk, more likely into May, will be to 3200 and then Fibo targets at 3219 and 3233.
• The 8-day RSI is positive, but not OB, leaving scope to go still higher this week
• WHAT CHANGES THIS?
• Below 3098 eases bull risks; through 3054 signals a neutral tone, only shifting negative below 3007
Please see full report with levels and latest audio-visual analysis here: http://members.marketchartist.com/Daily/eurostoxx.pdf
Daily Adjusted Continuation and Weekly charts
Article / 1 hour ago
3 Numbers To Watch: Eurozone PMIs, US PMI and new home salesToday’s key numbers to watch include flash April PMI data for the Eurozone and the US, along with the monthly report on new home sales in the US for March.Read the article
Article / Yesterday at 14:58 GMT
Loonie in the land of the cross hairsThe lack of Canadian economic data this week leaves the loonie in the cross hairs and exposed to the ebbs and flows of regional developments dictating direction in CAD crosses.Read the article
Saxo TV / Yesterday at 12:59 GMT
Wells Fargo - the big bank with big potentialLea JakobiakAs earnings season heats up, Jim Sinegal from Morningstar, says that so far results from the finance sector have been disappointing "because of the legal expenses big banks have to pay". He thinks Wells Fargo has "most potential going forward".
Squawk / Yesterday at 10:41 GMTDutch housing prices dropped 0.3% m/m in March following a flat reading in February. The annual change in house prices was -2.1% vs. -1.7% a month earlier. Despite the decline in March, there are signs of stabilisation following a couple of years of large declines in house prices. Having said that, house prices also appeared to stabilise in late 2010 / early 2011.
Article / Yesterday at 9:38 GMT
US Easter data wrap: Leading indicators surge in MarchThe Easter break saw the release of a range of interesting economic data, including US leading indicators, which rose no less than 0.8 percent month-on-month in March.Read the article
Article / Yesterday at 6:50 GMT
Quiet currency market looking for a resurrection of volatilityMarkets are getting fully back up to speed today after much of Europe was out for a four-day weekend. Volatility in the currency market remains extremely muted with the focus this week on sterling and the kiwi.Read the article
Squawk / Yesterday at 6:08 GMTHave a GREAT trading day all!!
Editor’s Picks / Yesterday at 5:21 GMT
Of 72 economists polled, none see economy contracting this yearMarketWatchIf you’re comforted by the wisdom of crowds, then it’s probably good news that a National Association for Business Economics survey of 72 economists didn’t find a single respondent who thinks the U.S. economy will contract this year, the fourth-consecutive survey where that’s been the case. Alternatively, it could be evidence of groupthink in either mentality or forecasting model.Read article on MarketWatch Go to post
The NABE polls its members quarterly, and most — like on Wall Street — expect the economy to grow between 2.1% and 3% this year. Six percent see the economy rising between 0.1% and 1%, 14% see it between 1.1% and 2%, 72% see it between 2.1% and 3%, and 8% see it growing between 3.1% and 4%.