Euro, the single currency has been at the mercy of higher bond yields from Italy’s budget woes, taking it to a 7 week low of 1.1476. The fall has been consistent since Sep 24 when it last saw 1.1815. If the pair now crosses the 61.8% Fibonacci retracement level of 1.14850 distinctly, it would head
Financial Market Overview 8th October, 2018 Noon update Indian Rupee:- The Indian rupee extended losses, falling beyond the 74-level against the dollar in afternoon trade, weighed down by greenback demand from several private and foreign banks. The rupee was trading at 74.04 to a dollar against 73.7650 at close on Oct. 5. Intraday, the rupee
Completely flabbergasted by rupee’s volatility – a whopping 3% weakness in 10 trading days – I recall Jim Cramer’s words “Every once in a while, the market does something so stupid it takes your breath away.” Trying to make some sense in this insanity, I came across something interesting. Check out the two charts below.
In the daily charts, support of 1.3050 (red line) was touched on June 28 after which it again tested the support in mid July but the pound convincingly drove past that on August 3. August 29 saw the same support as a resistance which didn’t let it cross even on a second attempt. But it
While gold is sought as a universal reserve by most countries, it is to be seen how the yellow metal is likely to trade in the politically driven financial markets. A mere demand-supply and fundamental analysis is not enough to understand the behavior of the markets, but one needs to literally predict the tweets which
The recent correction in Indian equities (Global equities too) has made a lot of market participants extremely bearish about the Indian growth story. Have read a series of news articles indicating that ‘it is the beginning of the end of Indian equity bull run’. Arguments that were put forth to substantiate that ‘Indian equities will