Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market closed with a decline amid worsening investor sentiment due to a lack of progress in agreeing on a new stimulus package. Speaker of the U.S. House of Representatives Nancy Pelosi on Saturday night called on the White House to agree on the remaining outstanding issues within 48 hours, The Wall Street Journal reported. Pelosi and U.S. Treasury Secretary Steven Mnuchin were scheduled to hold further discussions on Monday. Standard & Poor's 500...
Source: PaxForex Premium Analytics Portal, Technical Insight Due to Turkey's possible use of Canadian military equipment in the Nagorno-Karabakh conflict, Canada suspended the issuance of permits for exporting weapons to Turkey. USD/CAD, 30 min Pivot: 1.3180 Analysis: Provided that the currency pair is traded above 1.3165, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3180 Take Profit 1: 1.3215 Take Profit 2: 1.3235 Alternative scenario: In case of...
Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices did not show a single trend at Friday's trading results. Nasdaq Composite lost 42.32 points (0.36%). Nasdaq 100, H4 Pivot: 11927.48 Analysis: Provided that the index is traded above 11180.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 11927.48 Take Profit 1: 12100.00 Take Profit 2: 12350.00 Alternative scenario: In case of breakdown of the level 11180.00, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The New York City FRSB lowered its forecast for US GDP: FRSE of New York: current GDP forecast for the USA for the 3rd quarter is downgraded by 0.3% to +13.8%; GDP forecast for Q4 decreased by 1.2% to +3.6%; The main driver of the revised estimates were unpleasant surprises from the data on industrial production and capacity utilization published last week. USD/JPY, 30 min Pivot: 105.42 Analysis: Provided that the currency pair is traded above 105...
Source: PaxForex Premium Analytics Portal, Fundamental Insight The shares of HP have fallen by almost 10% in the last three years as the S&P 500 has grown by almost 40%. Even after the indexation of reinvested dividends, the total income of the company was less than 1%. HP was struggling as its relatively stable PC sales were offset by lower sales of printers and consumables. The resignation of CEO Dion Weisler, Xerox's failed aggressive takeover bid, as well as disruptions in the COVID-19 environment also prevented...
