Source: Markets Insider Oil investors are holding its price above $75 a barrel as they adopt a wait-and-see attitude on OPEC+ intervention, solving output differences between the UAE and Saudi Arabia. CL1! Is up +0.19%. Fresh talks are due on Monday after OPEC+ members last week failed to reach an output agreement for 2021.Most OPEC+ members are pushing for a slow output … [Read more...] about Oil Shows Less Signs of Slowing Down Above $75 bbl Amid OPEC+ Impasse
Lagging Business Activity Slowdown Growth of China’s Services Sector
Source: Caixin. China’s Caixin Services Purchasing Managers’ Index (PMI) June dropped to 50.3, the lowest level in the last 14 months. CSI 300 Index gains +0.062%. The recent Caixin Services PMI was 4.8% lower than the reading in May and the lowest figure in 14 months.The scattered COVID-19 outbreaks in Guangdong Province was responsible for the decline in the volume of … [Read more...] about Lagging Business Activity Slowdown Growth of China’s Services Sector
Simple Techniques for Trading Head and Shoulders Pattern
A good investor knows all the tools crucial for profitable trades. However, one can only excel if one identifies the tools that work best. If you are looking for a tool that indicates when the market is about to turn a corner, you will like the head and shoulders pattern. The big question here is how to apply the indicator best to obtain its maximum potential. Before … [Read more...] about Simple Techniques for Trading Head and Shoulders Pattern
Global Central Banks Bet on China’s Recovery with Record Holdings of the Yuan
Source: Yicai Global Holdings of the Chinese yuan as a share of global foreign exchange reserves rose to 2.5% in the first quarter, the highest level since the fourth quarter of 2016. USDCNY is down -0.01%. Yuan reserves by global central banks rose by 6.7% to $287.5 billion in the first quarter from the previous one, the ninth consecutive increase.The rise in yuan … [Read more...] about Global Central Banks Bet on China’s Recovery with Record Holdings of the Yuan
US Added 850,000 Jobs in June as Unemployment Rate Remained at 5.9%
Source: U.S. Bureau of Labor Statistics. In June, the total nonfarm payroll employment increased by 850,000, and the unemployment rate remained unchanged at 5.9%. DJI +0.063% Significant job increases were recorded in leisure and hospitality, professional and business services, retail trade, public and private education, and other service sectors.The current unemployment … [Read more...] about US Added 850,000 Jobs in June as Unemployment Rate Remained at 5.9%
