Daily Market Update 2nd August 2016
Dollar hovers near three-week low, Aussie eyes RBA
insights
Trading tips this week - technical analysis: Kim
James Kim, sales trader at Saxo Capital Markets Australia, examines trading strategies for week 31 in a technical analysis of forex and equity charts.
Kim looks at trends in the US dollar index, and pairs including EURUSD, GBPUSD, AUDUSD and USDJPY.
He also looks at the Nikkei 225, the US 500, the US 30, the AUS 200 and commodities such as oil, copper and gold.
Kim also examines two ETF charts, the Barclays Capital High-Yield Bond and the iShares Nasdaq Biotechnology Index Fund.
Kim also examines two ETF charts, the Barclays Capital High-Yield Bond and the iShares Nasdaq Biotechnology Index Fund.
Daily Market Update 1st August 2016
Oil rises after month of steady decline but oversupply still weighs
My precious metals trades today: Neighbour
Joe Neighbour from Central Markets is looking to buy two precious metals stocks on the FTSE 100, Randgold (RSS:xlon) and Fresnillo (FRES:xlon).
Precious metal stocks rallied strongly in yesterday's session. They have largely been in consolidation mode of late, but in recent sessions they have started to break higher.
Both Randgold and Fresnillo have completed bullish flag patterns and now look set to continue pushing higher.
Neighbour is a buyer on the open this morning with stops below yesterday’s lows.
His upside target is 2200p on FRES and 10000p on RRS. Stop loss on FRES at 1850p and 8705p on RRS.
Why Apple is still losing momentum: Garnry
Saxo Bank head of equity strategy Peter Garnry explains why he thinks Apple has lost its mojo
iPhone sales are saturating fast. The company’s business in China is deteriorating fast. Revenue is down 33% in the latest quarterly figures.
Apple smartphones are encountering significant competition from Chinese hardware and software manufacturers at a lower price point.
Revenues from the Beats music subscription service and the Apple Watch are down 10% compared to last year. As a result, Garnry doesn’t expect Apple share prices to be fantastic over the next year.
