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Wed, May 08, 2024 05:16 AM All times are UTC

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FxWirePro: US Oil declines on oversupply concerns, good to sell on rallies

May 23, 2016 08:45 am UTC| Technicals

Pattern Formed Shooting Star Major resistance- $49.35 (161.8% retracement of $46.79 and $42.90) US oil has declined after making a high of $49.27 on account of strong USD and firm global supply will continue to...

FxWirePro: South African rand erases previous loss against US dollar, down side limited

May 23, 2016 08:43 am UTC| Technicals

USD/ZAR is currently trading around 15.5382 levels. It made intraday high at 15.6421 and low at 15.5203 levels. Intraday bias remains slightly bearish for the moment but down side is limited as 20D, 30D and 55D...

FX Hedging Strategy Series

FxWirePro: "Dragon fly" doji on AUD/USD, demand zone at 0.7214 but edgy at 61.8% fibos - Credit Call Spreads for speculation

May 23, 2016 07:53 am UTC| Technicals

A dragon fly doji is traced out at 0.7227 levels which is at the troughs of the downswings. We kept urging for our bearish targets 0.7648 as well as 0.7502 from last couple of weeks, which are very well achieved by...

FxWirePro: Euro strengthens against Swedish krona, good to buy on dips

May 23, 2016 07:49 am UTC| Technicals

EUR/SEK is currently trading around 9.3410 levels. It made intraday high at 9.3416 and low at 9.3225 levels. Intraday bias remains bullish till the time pair holds key support at 9.32 marks. A sustained...

FxWirePro: EUR/CAD forms Bullish Bat pattern, good to buy at dips

May 23, 2016 07:16 am UTC| Technicals

Pattern Formed - Bullish Bat pattern Potential Reversal Zone (PRZ)- 1.4180 EUR/CAD has completed Bullish Bat pattern around 1.4180 level. It is currently trading around 1.47256. The short term trend is...

FxWirePro: EUR/JPY rejected at session highs by 123.64, good to sell rallies

May 23, 2016 06:55 am UTC| Technicals

Japans hopes to obtain endorsement for fiscal measures crushed, G7 leaders issued strong warning to the Japanese authorities against fx intervention. JPY strength seen across the board post G7 meet, EUR/JPY falls...

FxWirePro: Chinese Yuan remains supported just below 6.5510, a break above targets 6.57

May 23, 2016 06:50 am UTC| Technicals

USD/CNY is currently trading around 6.5482 marks. It made intraday high at 6.5499 and low at 6.5475 levels. Intraday bias remains neutral till the time pair holds key resistance at 6.5510 levels. A sustained...

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Economy

Nigerians throw naira notes around to show love: but it could land you in jail

The legal implication of physically damaging the naira, Nigerias currency, came into focus recently with the prosecution of at least two celebrities by the countrys Economic and Financial Crimes Commission. Nigeria has a...

The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today’s globalized system

Given the spate of news about international trade lately, Americans might be surprised to learn that the U.S. isnt very dependent on it. Indeed, looking at trade as a percentage of gross domestic product a metric...

Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

Three weeks from now, some of us will be presented with a mountain of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what...

Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility

Ivan Vladislavić is Johannesburgs literary linkman. He tells us, in the first pages of his new book, The Near North, that before cities were lit, first by gaslight and later electricity, people of means paid torchbearers...

Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget

With Jim Chalmerss third budget on May 14, Australians will be looking for some more cost-of-living relief beyond the tax cuts although they have been warned extra measures will be modest. As this weeks consumer price...

Politics

Sudan’s civil war is rooted in its historical favouritism of Arab and Islamic identity

The current civil war in Sudan goes beyond a simple power struggle between two generals. It reflects a deep-rooted crisis within the countrys governing structure thats been present since it gained independence from the...

South Africa’s youth are a generation lost under democracy – study

South African president Cyril Ramaphosa recently painted a rosy picture in which the countrys youth democracys children had enormous opportunities for advancement, all thanks to successive post-apartheid governments led...

Sadiq Khan on track for third term as London mayor – but nearly half of Londoners dissatisfied with performance

Polls have consistently shown that the incumbent mayor of London, Sadiq Khan, appears to be on track to win a third term in office at the upcoming mayoral elections on May 2. One poll we commissioned as part of our...

The politics stopping the UK from opening a youth mobility scheme with Europe

Earlier this week, it seemed possible that young people in the UK might soon be able to travel freely to work and live in Europe again. The European Commission laid out proposals to open mobility to millions of 18- to...

Biden administration tells employers to stop shackling workers with ‘noncompete agreements’

Most American workers are hired at will: Employers owe their employees nothing in the relationship except earned wages, and employees are at liberty to quit at their option. As the rule is generally stated, either party...

Science

IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects

About a trillion tiny particles called neutrinos pass through you every second. Created during the Big Bang, these relic neutrinos exist throughout the entire universe, but they cant harm you. In fact, only one of them is...

The Mars Sample Return mission has a shaky future, and NASA is calling on private companies for backup

A critical NASA mission in the search for life beyond Earth, Mars Sample Return, is in trouble. Its budget has ballooned from US$5 billion to over $11 billion, and the sample return date may slip from the end of this...

Dark matter: our new experiment aims to turn the ghostly substance into actual light

A ghost is haunting our universe. This has been known in astronomy and cosmology for decades. Observations suggest that about 85% of all the matter in the universe is mysterious and invisible. These two qualities are...

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Technology

Binance CEO Discloses $150 Million Bribe Amidst Tensions with Nigerian Government

Binance, the renowned cryptocurrency exchange, disclosed that Nigerian government authorities demanded a staggering $150 million in bribes to quell legal actions against its executives, igniting a fierce dispute between...

Hong Kong Central Bank Leads Initiative to Explore Asset Tokenization Advancements

The Hong Kong Monetary Authority (HKMA) has spearheaded the formation of a specialized community to explore asset tokenization. Partnering with various industry players and regulators, this initiative seeks to drive...

Shiba Inu Lead Shytoshi Kusama Unveils Mysterious 'Evita' Teaser, Sparking Frenzy

Shytoshi Kusama, the elusive figure at the helm of the renowned cryptocurrency Shiba Inu (SHIB), has set tongues wagging with a cryptic teaser shared across social media platforms. The enigmatic message features the word...

Amazon Opens Online Shopping for South African Customers

Amazon has finally arrived in South Africa. With its launch in the region, Jeff Bezos e-commerce platform is expected to compete with the leading local online shopping player, Takealot.com. The American e-commerce giant...

Apple Embarks on AI Chip Development for Data Center Capabilities

Apple Inc. is set to transform the tech landscape with its newly developed AI chip, tailored specifically for data center operations. Dubbed Project ACDC, this initiative marks a significant leap in server technology,...