AUD/USD witnesses a modest pullback from the vicinity of a two-month high set on Thursday. The USD short-covering move is seen as a key factor exerting downward pressure on the pair. The risk-on impulse offers some support to the risk-sensitive aussie and limits the downside. The AUD/USD pair faces rejection near a technically significant 200-day… Read More »
UOB Group’s Senior Economist Alvin Liew comments on the revised Q2 GDP figures in Singapore. Key Takeaways “Singapore’s final 2Q 2022 GDP was revised lower sequentially to a contraction of 0.2% q/q SA (versus prelim print of 0.0% q/q SA) after recording a downwardly revised 0.8% expansion in 1Q (from 0.9% previously). Compared to a… Read More »
Scaling into losing positions helps traders “average down” their buying price before the asset eventually goes their trades’ way. But scaling is not for everyone. After all, you’ll never be sure that the asset will eventually trade your way. Will you still be able to make good trading decisions if price continues to trade against… Read More »
CSSE stock tanked 10.4% in Friday’s premarket. Chicken Soup for the Soul reported a wide GAAP loss of $-1.39 in Q2. CSSE just concluded its acquisition of Redbox on Thursday. Chicken Soup for the Soul (CSSE) stock is down 10.4% in Friday’s premarket a day after it reported second quarter earnings that wildly missed forecasts.… Read More »
Senior Economist at UOB Group Alvin Liew reviews the latest US inflation figures and the impact on the Fed’s rate path in the near term. Key Takeaways “Both key measures of US inflation came in below expectations for Jul. US headline consumer price inflation was still elevated but came off from recent highs, to 8.5%… Read More »
NYSE:GME fell by 2.66% during Thursday’s trading session. GameStop’s NFT Marketplace is getting some high-end collections added. Coinbase stock drops as it is once again under investigation by the SEC. NYSE:GME continued to dip lower and underperform its meme stock rivals on Thursday. Shares of GME fell by 2.66% and closed the trading session at… Read More »
NYSE:HKD fell by 1.65% during Thursday’s trading session. TOP Financial Group rises 52% while MEGL stock slumps lower. Treasure Global stock IPOs on the NASDAQ and gains 345%. NYSE:HKD has now gone two straight days without any major swings as the Hong Kong-based fintech stock remains heavily inflated. On Thursday, shares of HKD dipped by… Read More »
NYSE: AMC gained 7.56% during Thursday’s trading session. AMC is using the APE preferred shares to disguise another capital raise. The SEC is looking into Melvin Capital for allegations of misleading investors. NYSE: AMC rose higher for the second straight day as the movie theater chain continues to add to the recent rally that has… Read More »
USD/CAD attracts some dip-buying on Friday amid a modest pickup in the USD demand. The prospects for additional Fed rate hikes, elevated US bond yields benefit the greenback. The recent rally in oil prices could underpin the loonie and keep a lid on any further gains. The USD/CAD pair rebounds a few pips from the… Read More »
Gold edges down for the third straight day amid a modest pickup in the USD demand. The risk-on impulse further exerts some downward pressure on the safe-haven metal. The uncertainty over the size of further rate hikes caps the USD and extends support. Gold slips into negative territory for the third straight day on Friday… Read More »
