won

5 must-watch series from the world of finance

With the boom of streaming services, investors are presented with often exciting opportunities. But today, we'll try to move away from looking at the world through the eyes of an investor and focus more on the content that streaming services offer. More accurately, we will take a look at the series that can be found on these platforms. But don’t worry, we won’t get too far from our beloved world of finance either.

Financial world has always been an attractive subject not only for Hollywood screenwriters. Classics such as Wall Street (1986) and Wolf of Wall Street (2013) have not only grossed millions of dollars world-wide but even managed to convince many viewers into starting their own careers in finance. However, with the rise of streaming services, finance has also taken centre stage for a number of series. Some of the most well-known are the HBO-produced series Billions (2016) and Succession (2018). Today, let's take a look at a

What Is Going On Financial Markets Today? Russia Will Not Resume Deliveries Of Gas

Gaining Canadian, Australian And US Yields In Focus. Won, Baht And PLN Weaken

Marc Chandler Marc Chandler 28.03.2022 14:41
March 28, 2022  $USD, BOJ, China, Currency Movement, German, Interest Rates, nuclear, Russia, Ukraine Overview: Yields are surging.  Canada and Australia's two-year yields have jumped 20 bp, with the US yield up 10 bp to 2.37% ahead of the $50 bln sale later today.  The US 10-year yield has risen a more modest three basis points to 2.50%, flattening the 2-10-year yields curve.  The 5–30-year curve has inverted for the first time since 2016.  European 10-year benchmark yields have risen 3-7 bp.  Tech stocks helped power the Hang Seng and Australia eked out a small gain, but most equity markets in the Asia Pacific region sold off for third consecutive session.  Led by financials, utilities, and communication, the Stoxx 600 has risen by about 0.75% in the European morning.  US futures are trading with a heavier bias.  The greenback is firm, with the yen again under the most pressure.  It is trading briefly above JPY125 in late morning activity in Europe, before pulling back.  The Australian dollar is the only major currency higher on the day.  Emerging market currencies are mostly lower.  The South Korean won, and Thai baht are hardest hit alongside the Polish zloty.  The jump in yields takes some shine off gold, which reached $1966 last week.  It is now straddling the $1930 area.  The $1900 area may offer important support.  The lockdown in Shanghai is sparking concerns about oil demand.  May WTI is off almost 4% after last week's 10.5% rally.  There is also speculation (hope) that OPEC+ agrees to boost output at this week's meeting.  US natural gas prices are little changed after rising in every session last week.  Europe's benchmark has risen by a little more than 8% today after falling 2.4% last week.  Iron ore is a little firmer, while copper is falling for the third session in a row.  May wheat is offered, giving back 2.4% after last week's 3.6% a rally.    Asia Pacific The Bank of Japan entered the market to reinforce the 0.25% cap of the 10-year yield.  Its first offer to buy an unlimited amount of bonds failed to draw any interest.  The second attempt had to buy JPY64.5 bln (~$525 mln).  The BOJ recognizes it is engaged in a struggle now and has pre-announced will be there for the next three sessions.  Separately, we note that according to the latest Nikkei poll, support for Prime Minister Kishida has risen six percentage points to 61%, with high marks given for handling the Russia's invasion of Ukraine.   On the one hand, China rejects the sanction regime against Russia, it says, because it is being imposed with a UN resolution.  On the other hand, reports suggest that Beijing and mainland companies are asking US officials for clarification with the idea in mind to understand what is permitted.  China and India purchases, for example, of Russian oil is not violating the sanctions.   There was thought that China would abandon its strict zero-Covid course.  Some suggested that the easing of restrictions in Hong Kong could be a prelude to a change by Beijing.  However, that does not appear to be the case.  Yesterday, Beijing announced a lockdown of Shanghai, China's largest city (population estimated around 25 mln).  The eastern half of city will be locked down for four days starting today.  This covers the financial district.  The purpose is mass testing.  The western half of the city will be locked down as of April 1.  Residents will be barred from leaving home and public transportation and ride-hailing services will be halted. A record 5500 cases were said to have been reported on Saturday. Recall that earlier this month, Shenzhen, an important tech hub was locked down. China is taking a new initiative though that has not been widely reported. It appears that China and the Solomon Islands are close to a security pact.  The leaked documents suggest that the pact could lead to a Chinese military presence there.  The Solomon Islands did not confirm the leaked details but did acknowledge that it was broadening out its security arrangements and China would be included in the changes.  This is a blow to Australia, which had seemingly secured the strategically located country into the Western alliance.  Solomon Islands had abandoned Huawei in 2018 and struck an agreement with Australia to build a 2500-mile internet cable to it. Last year, Australia sent some police to help quell riots in Honiara, the capital of the Solomon Islands, over economic problems, and anti-Chinese sentiment.  Yet, China has been making inroads.  For example, in 2019, Honiara dropped its recognition of Taiwan.  The US has acted belatedly.  Its embassy was closed in 1993 and not re-opened until last month.  As the map here shows, a Chinese presence in the Solomon Islands would compromise Australia's security.     The BOJ's defense of its Yield Curve Control policy in the face of surging global yields and especially US rates keeps the yen on the defensive.  The yen edged higher at the end of last week for the first time in six sessions, but its losses have accelerated today.  As we have noted the last significant high was in 2015 and then the greenback reached about JPY125.85. The notable high before that was in 2002, a little above JPY135.  The Australian dollar is firm.  It posted a marginal new five-month high near $0.7540.  It is approaching last October's high by $0.7550.  It is the fifth consecutive advance, if sustained, and it would be the ninth gain in the past 10 sessions.  The positive terms-of-trade shock seems to the be chief driver.  A pre-election due first thing Wednesday in Canberra is expected to include a cut in the fuel tax for six months, support for first-time home buyers, and boost funds for roads and rails.  The election is expected to be called by late May.  The greenback gapped higher against the Chinese yuan, reaching a little more than CNY6.3810, but has subsequently trended lower to fill the nearly fill the gap (the pre-weekend high) by CNY6.3680.  The PBOC's reference rate for the dollar was lower than the Bloomberg survey anticipated (CNY6.3732 vs. CNY6.3740).    Europe In an unexpected turn of events, Germany's Economic Minister Habeck, a member of the Green Party, suggested that he is open to re-examining the decision to close the county's remaining three nuclear plants later this year.  Previously, the Greens and Habeck ruled out this option.  Still, the surge in energy prices and the belated efforts to reduce its dependence on Russia is pushing the pragmatic Greens (realos) in this direction.  Merkel's push to close the nuclear energy plants after Japan's nuclear accident in 2011 resulting in increased reliance on Russia and spurred the Nord Stream 2 pipeline.  Among the scenarios that were bandied about before Russia's invasion of Ukraine was that it could pursue a limited objective of securing the entire regional claims Donetsk and Luhansk.  Since the war began, Western sources has played up different scenarios, one of total occupation of Ukraine.  The narrative it tells now is that after having suffered some significant setbacks, for which the higher range of estimates suggest Russia has lost as many soldiers (15k) in Ukraine as it did in 10 years in Afghanistan.  Russia admits to less than a tenth of those estimated deaths in Ukraine.  Even taking into account the number of injuries inflicted, the lower bottom of NATO's range is (7k).  It is quite clear that both sides have it in their interest to, shall we say, see what they want.  Still, the point now is that Russia's 1st Deputy General of the Chief of Staff suggested Russian forces will focus on gaining the full control of the Luhansk, for which it may be nearly there, and Donetsk, which is thought to be a little more than half secured.  The idea is that when the territory is militarily secure, a referendum would be held to formally join Russia.  Strategically, a land-bridge to Crimea will also be secured.   The euro was sold to an eight-day low near $1.0945 after holding above $1.0960 last week.  It popped up in early European turnover to the session of just below $1.10.  That is an important level in the coming days, with large options expiring there.  The nearly 585 mln euro expiry today is the smallest.  Tomorrow's expiring options are for almost 2.5 bln euros and the same for Wednesday ahead of Thursday's nearly 2.9 bln euro expirations.  If the upside is blocked, look for a test on $1.09 and below there is this month's low slightly ahead of $1.08.  Sterling is testing last week's low by $1.3120.  A break targets the $1.3070 area, and possibly $1.30, which was seen in the middle of the month. It last traded below there in late 2020, when it found a base around $1.2880.    America The US Treasury indicated that Russia could use frozen funds to make debt payments until May 25.   Next Monday, there is a $2.2 bln debt servicing payment due.  Some covenants allow for the rouble payments, but these reportedly do not.  After May 25, it needs to raise money other ways, including selling its oil and gas.  Over the weekend, President Biden implied relations with Russia cannot be normalized while Putin is in control.  It was later walked back by Secretary of State Blinken.  However, with the US claiming Putin is a war criminal, it is hard not to conclude that the US seeks regime change.  Some might find the US assertion of war crimes more powerful and compelling if Washington or Moscow were signatory members of the International Court of Justice.  If you are keeping records of such things, Beijing is not a member either.  The ICJ does not have authority over non-members.   President Biden is struggling in the polls.  His support is around 40%, near the levels that Trump experienced at the same time of his presidency.  One poll found that some 70% have little confidence in his handling of Russia and the war.  This suggests that his base has also softened.  Meanwhile, Biden is expected to unveil new budget proposals, which will include record spending for "peace" time.  He is expected to formally endorse the previous Senate Democrat proposal for a "billionaires' tax that would be extended to unrealized gains.  It is said to raise $360 bln over the next 10 years.  At the same time, without the Covid-related spending and income replaces, the budget deficit will be projected to fall.  The median forecast in Bloomberg's survey has the budget deficit falling to 5.1% of GDP this year form 10.8% last.   Lastly, there seems to be a misunderstanding about trend growth in the US.  Some observers talk about a growth recession as the most likely or best outcome that can be anticipated.  Yet the 2% pace or so bandied about can hardly be called a "growth recession” because for the Fed this would simply be a return to trend growth.  The Fed estimates that the long-term growth rate is 1.8%-2.0%.   On tap today is the US February advanced goods trade balance.  It was a record deficit in January.  Wholesale and retail inventories are also due.  Retail inventories rose by an average of 2.3% a month in Q4 21.  They are expected to have risen by about 1.4% after January's 1.9% increase.  Wholesale inventories rose by an average of 2.2% in Q4 21.   They are rising at about half that pace in the first two months of Q1 22.  We have noted that the inventory cycle is maturing, and it will not provide the tailwind as it did previously, and especially in Q4 21. The Dallas manufacturing survey is expected to have soften a little.     The US dollar has a nine-day drop in tow against the Canadian dollar coming into today's session.  It is pinned near the pre-weekend low around CAD1.2465.  It has not been above CAD1.2505 today.  We anticipate some near-term consolidation that could see the greenback trade toward CAD1.2520-CAD1.2540.  The US dollar is poised to snap an 11-day slide against the Mexican peso.  During that run, the greenback fell from around MXN21.06 to about MXN19.91.  It has been up to MXN20.12 today and since then it has found support ahead of MXN20.00.  We suspect near-term potential extends into the MXN20.20-MXN20.22 area.       Disclaimer
S&P 500 Has Been Moving Up For A While. What's Next?

S&P 500 Has Been Moving Up For A While. What's Next?

Paul Rejczak Paul Rejczak 28.03.2022 15:55
  Stocks extended their short-term uptrend on Friday, but this week we may see some more uncertainty and a possible profit-taking action. The S&P 500 index gained 0.53% on Friday following its Thursday’s advance of 1.4%. The broad stock market’s gauge extended its short-term uptrend after breaking above the 4,500 level. It gained over 380 points from the Mar. 14 local low of around 4,162. There have been no confirmed negative signals so far. However, we may see another correction and a profit-taking action at some point. There’s still a lot of uncertainty concerning the ongoing Ukraine conflict, but investors were recently jumping back into stocks despite that geopolitical uncertainty. This morning the index is expected to open virtually flat after an overnight advance followed by its retracement. The nearest important resistance level is at around 4,550-4,600, marked by the previous local highs. On the other hand, the support level is at 4,400-4,450. The S&P 500 index trades closer to its January-February local highs along the 4,600 level, as we can see on the daily chart (chart by courtesy of http://stockcharts.com): Futures Contract Remains Above the 4,500 Level Let’s take a look at the hourly chart of the S&P 500 futures contract. It is trading close to the new local high. Potential resistance level is at around 4,585, marked by the previous highs. There have been no confirmed negative signals so far. We are maintaining our profitable long position from the 4,340 level, as we are still expecting a bullish price action in the near-term. However, to protect our gain, we decided to move the stop-loss (take profit) and price target levels higher. (our premium Stock Trading Alert includes details of our trading position along with the stop-loss and profit target levels) (chart by courtesy of http://tradingview.com): Conclusion The S&P 500 index will likely open virtually flat this morning. However, the futures contract retraced its overnight advance, so we may see more uncertainty and a potential profit-taking action. The war In Ukraine remains a negative factor for the markets. The global markets will also be waiting for this Friday’s monthly jobs data release. Here’s the breakdown: The S&P 500 index extended its uptrend on Friday; this morning the futures contract retreated from its new local high. We are maintaining our profitable long position (opened on Feb. 22 at 4,340), but we moved stop-loss (take profit) and price target levels higher. We are still expecting an advance from the current levels. Like what you’ve read? Subscribe for our daily newsletter today, and you'll get 7 days of FREE access to our premium daily Stock Trading Alerts as well as our other Alerts. Sign up for the free newsletter today! Thank you. Paul Rejczak,Stock Trading StrategistSunshine Profits: Effective Investments through Diligence and Care * * * * * The information above represents analyses and opinions of Paul Rejczak & Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. At the time of writing, we base our opinions and analyses on facts and data sourced from respective essays and their authors. Although formed on top of careful research and reputably accurate sources, Paul Rejczak and his associates cannot guarantee the reported data's accuracy and thoroughness. The opinions published above neither recommend nor offer any securities transaction. Mr. Rejczak is not a Registered Securities Advisor. By reading his reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits' employees, affiliates as well as their family members may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
Crypto trading volume exceeds $100 billion in 24 hours as bulls flock to the market

Crypto trading volume exceeds $100 billion in 24 hours as bulls flock to the market

FXStreet News FXStreet News 28.03.2022 16:34
Proponents noted a 63.07% spike in the total transaction volume of cryptocurrencies across exchanges. Coinmarketcap data reveals a month-on-month increase of 4.75% in crypto trading volume. Bitcoin price crossed $47,000, fueled by $200 million shorts liquidated across exchanges. Bitcoin price is rallying, fueled by a frenzy of massive short liquidations on crypto exchanges. Proponents believe bulls have flocked to the market, as transaction volume exceeded $100 billion. Bitcoin price pushes past $47,000 in recent rally Bitcoin price crossed key resistance to hit a high above $47,000 in a rally fueled by the liquidation of millions of short positions. Analysts at the crypto intelligence platform Santiment observed a massive liquidation of shorts across exchanges at 1 pm and 6 pm UTC across crypto exchanges on March 27, 2022. Analysts argue that Bitcoin’s recent price rally to $47,000 was a response to liquidation in large quantities over the weekend. The average funding rate entered the long zone, where uncertainty among market participants increased. Therefore, analysts conclude that Bitcoin shorts have fueled the asset’s ongoing rally. Bitcoin and altcoin shorts liquidatedColin Wu, a Chinese journalist, reported a spike in the total transaction volume of cryptocurrencies, exceeding $100 billion over the past 24 hours. Wu referred to data from Coinmarketcap and observed a 63.07% increase in crypto transaction volume compared to March 26, 2022. The total crypto market value now exceeds $2.12 trillion. Historically, analysts have witnessed high transaction activity when large wallet investors flock to the market or scoop up crypto. Bloomberg analysts argue that Bitcoin looks overbought, compared to its 50-day Moving Average. Bitcoin price crossed key resistance at $45,000 in the current rally, erasing its losses for the year. FXStreet analysts have evaluated Bitcoin price and predicted the start of a new uptrend in the asset, as it crossed the $45,000 level.
Who Benefits Most From the Russia-Ukraine War?

Who Benefits Most From the Russia-Ukraine War?

Finance Press Release Finance Press Release 28.03.2022 17:25
With the unrest in the Black Sea basin, it appears that there are two more cross-trade wars in the world. These are about energy and currency.Crude oil prices, down most of Friday, finally ended the week higher after a huge fire broke out at oil facilities in Jeddah, Saudi Arabia, following attacks by Yemeni rebels.The great winner of the Russian-Ukrainian conflict is undoubtedly the United States, which now seems to be taking advantage of Europe’s moment of weakness.The latter is indeed currently switching its energy supplies from Russian natural gas (pipeline-transported) to the much more polluting and much more expensive US shale gas. The reasons are much higher extraction (fracking) and transportation costs since it requires additional processes such as liquefaction/degasification and the deployment of more port terminals that are able to provide such steps – also much more energy-consuming – linked to Liquefied Natural Gas (LNG) supplies.(Source: ResearchGate.net)By doing so, the European Union is going to increase its dependence on the US whilst a new and stronger block (including Asia) emerges on the east side.As a result, we have already started to witness dedollarisation in international trade, with the petroyuan set to dethrone the heavily-printed petrodollar.No wonder that the US dollar supply surge has ended up triggering uncontrollable and probably still underestimated inflation. As a result, this monetary virus is spreading through the global economy at a faster pace than any other variant! WTI Crude Oil (CLK22) Futures (May contract, daily chart) Henry Hub Natural Gas (NGK22) Futures (May contract, daily chart)“Inflation is like toothpaste. Once it's out, you can hardly get it back in again. So, the best thing is not to squeeze too hard on the tube.” – Dr Karl Otto PöhlThat’s all folks for today. Happy trading!Like what you’ve read? Subscribe for our daily newsletter today, and you'll get 7 days of FREE access to our premium daily Oil Trading Alerts as well as our other Alerts. Sign up for the free newsletter today!Thank you.Sebastien BischeriOil & Gas Trading Strategist* * * * *The information above represents analyses and opinions of Sebastien Bischeri, & Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. At the time of writing, we base our opinions and analyses on facts and data sourced from respective essays and their authors. Although formed on top of careful research and reputably accurate sources, Sebastien Bischeri and his associates cannot guarantee the reported data's accuracy and thoroughness. The opinions published above neither recommend nor offer any securities transaction. Mr. Bischeri is not a Registered Securities Advisor. By reading Sebastien Bischeri’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Sebastien Bischeri, Sunshine Profits' employees, affiliates as well as their family members may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
Volatility Retreats As Stocks & Commodities Rally

Volatility Retreats As Stocks & Commodities Rally

Chris Vermeulen Chris Vermeulen 28.03.2022 21:32
The CBOE Volatility Index (VIX) is a real-time index. It is derived from the prices of SPX index options with near-term expiration dates that are utilized to generate a 30-day forward projection of volatility. The VIX allows us to gauge market sentiment or the degree of fear among market participants. As the Volatility Index VIX goes up, fear increases, and as it goes down, fear dissipates.Commodities and equities are both showing renewed strength on the heels of global interest rate increases. Inflation shows no sign of abating as energy, metals, food products, and housing continues their upward bias.During the last 18-months, the VIX has been trading between its upper resistance of 36.00 and its lower support of 16.00. As the Volatility Index VIX falls, fear subsides, and money flows back into stocks.VIX – VOLATILITY S&P 500 INDEX – CBOE – DAILY CHARTSPY RALLIES +10%The SPY has enjoyed a sharp rally back up after touching its Fibonacci 1.618% support based on its 2020 Covid price drop. Money has been flowing back into stocks as investors seem to be adapting to the current geopolitical environment and the change in global central bank lending rate policy.Resistance on the SPY is the early January high near 475, while support remains solidly in place at 414. March marks the 2nd anniversary of the 2020 Covid low that SPY made at 218.26 on March 23, 2020.SPY – SPDR S&P 500 ETF TRUST - ARCA – DAILY CHARTBERKSHIRE HATHAWAY RECORD-HIGH $538,949!Berkshire Hathaway is up +20.01% year to date compared to the S&P 500 -4.68%. Berkshire’s Warren Buffet has also been on a shopping spree, and investors seem to be comforted that he is buying stocks again. Buffet reached a deal to buy insurer Alleghany (y) for $11.6 billion and purchased nearly a 15% stake in Occidental Petroleum (OXY), worth $8 billion.These acquisitions seem to be well-timed as insurers and banks tend to benefit from rising interest rates, and Occidental generates the bulk of its cash flow from the production of crude oil.As technical traders, we look exclusively at the price action to provide specific clues as to the current trend or a potential change in trend. With that said, Berkshire is a classic example of not fighting the market. As Berkshire continues to make new highs, its’ trend is up!BRK.A – BERKSHIRE HATHAWAY INC. - NYSE – DAILY CHARTCOMMODITY DEMAND REMAINS STRONGInflation continues to run at 40-year highs, and it appears that it will take more than one FED rate hike to subdue prices. Since price is King, we definitely want to ride this trend and not fight it. It is always nice to buy on a pullback, but the energy markets at this point appear to be rising exponentially. The XOP ETF gave us some nice buying opportunities earlier at the Fibonacci 0.618% $71.78 and the 0.93% $93.13 of the COVID 2020 range high-low.Remember, the trend is your friend, as many a trader has gone broke trying to pick or sell a top before its time! Well-established uptrends like the XOP are perfect examples of how utilizing a trailing stop can keep a trader from getting out of the market too soon but still offer protection in case of a sudden trend reversal.XOP – SPDR S&P OIL & GAS EXPLORE & PRODUCT – ARCA – DAILY CHARTKNOWLEDGE, WISDOM, AND APPLICATION ARE NEEDEDIt is important to understand that we are not saying the market has topped and is headed lower. This article is to shed light on some interesting analyses of which you should be aware. As technical traders, we follow price only, and when a new trend has been confirmed, we will change our positions accordingly. We provide our ETF trades to our subscribers, and somewhat surprisingly, we entered five new trades last week, four of which have now hit their first profit target levels. Our models continually track price action in a multitude of markets, asset classes, and global money flow. As our models generate new information about trends or a change in trends, we will communicate these signals expeditiously to our subscribers and to those on our trading newsletter email list.Sign up for my free trading newsletter so you don’t miss the next opportunity! Furthermore, successfully trading is not limited to when to buy or sell stocks or commodities. Money and risk management play a critical role in becoming a consistently profitable trader. Correct position sizing utilizing stop-loss orders helps preserve your investment capital and allows traders to manage their portfolios according to their desired risk parameters. Additionally, scaling out of positions by taking profits and moving stop-loss orders to breakeven can complement ones’ success.WHAT STRATEGIES CAN HELP YOU NAVIGATE The CURRENT MARKET TRENDS? Learn how we use specific tools to help us understand price cycles, set-ups, and price target levels in various sectors to identify strategic entry and exit points for trades. Over the next 12 to 24+ months, we expect very large price swings in the US stock market and other asset classes across the globe. We believe the markets have begun to transition away from the continued central bank support rally phase and have started a revaluation phase as global traders attempt to identify the next big trends. Precious Metals will likely start to act as a proper hedge as caution and concern begin to drive traders/investors into Metals and other safe-havens.We invite you to join our group of active traders and investors to learn and profit from our three ETF Technical Trading Strategies. We can help you protect and grow your wealth in any type of market condition by clicking on the following link: www.TheTechnicalTraders.com
Bitcoin has become a leading indicator of investor sentiment

Bitcoin has become a leading indicator of investor sentiment

Alex Kuptsikevich Alex Kuptsikevich 29.03.2022 08:51
BTC is up 4% on Monday, ending the day around $48K, and corrected by about 1% to $47.5K on Tuesday morning. Ethereum was up 1.8% in the last 24 hours to $3.4K. Terra is a leader of the day According to CoinMarketCap, the total capitalization of the crypto market increased by 1% over the day, to $2.15 trillion. The Bitcoin dominance index fell by 0.1 points to 42.1%. The crypto-currency index of fear and greed rose by 11 points over the day, to 60, and moved from neutral level to the "greed" grade. On Tuesday, the index dropped to 56 points. Among the leading altcoins, Terra soared by 10%, Doge corrected by 2%. In most others, there is a slight correction in the growth of the last days, but they are in positive territory over the last day. Bitcoin continued to rise on Monday after it broke through the strong resistance of the February highs around $45K in the previous evening. By the end of the day, BTC has renewed the highs of early January above $48K, having won back the decline since the beginning of the year. Bitcoin is correlating with S&P500 The growth of the first cryptocurrency rested on the 200-day moving average ($48.2K). Confident consolidation above it promises to strengthen and expand the growth of the entire crypto market and breathe fresh impetus into the growth of bitcoin. In December, we saw a false break, but then the price levels were higher, and corrective sentiment intensified in the stock markets. Now Bitcoin is growing along with the rise of stock indices and often even acts as a leading indicator of investor sentiment. According to Arcane Research, BTC's correlation with the S&P 500 stock indicator recently hit a 17-month high. According to CoinShares, institutions invested $193 million in crypto funds last week, and it was the most significant amount in three months. Glassnode believes that the Bitcoin trend has already changed to bullish, as evidenced by the increase in the number of addresses accumulating BTC.
US ADP Employment March Preview: Private job creation slows while yield curve flattens

US ADP Employment March Preview: Private job creation slows while yield curve flattens

FXStreet News FXStreet News 29.03.2022 16:43
US ADP payrolls are foreseen at 438K in March, NFP at 475K.US yield curve is flattening, rings recession alarm amid 50-bps May Fed rate hike bets.Fed Chair Powell believes the labor market is strong enough, recession unlikely.The US private sector hiring is seen slowing in March after the American companies added more jobs than expected in February. The US ADP private employment report, due on Wednesday at 12.15 GMT, usually provides a good hint at Friday’s full jobs report, so investors will be looking for clues on any potential labor market slowdown.Pace of jobs creation slows in the USThe Automatic Data Processing (ADP) is forecast to show that US companies have created 438,00 new jobs in March, less than the previous month’s addition of 475,000. In February, business payrolls rose more than the expected 375,000 figure. ADP’s payroll data represent firms employing nearly 26 million workers in the US and its monthly release shows the employment change in the economy.Source: FXStreetOn Friday, the US Labor Department will release the Nonfarm Payrolls, which is expected to show that the economy has likely added 475,000 new jobs in March after a surprise increase of 678,000 reported in February.The Automatic Data Processing ADP jobs report is usually considered a proxy to the official Nonfarm Payrolls figures, which will be released on Friday, April 1.The disparity between the two indicators in recent months, however, makes the ADP result unreliable to gauge the NFP trend and, therefore, could have a limited market impact.US yield curve flattens, Fed remains hawkishHeading into the monthly payrolls data, the Russia-Ukraine conflict rages on while the odds of a 50-basis points (bps) Fed rate hike in May almost appears a done deal.Against this backdrop, the yields on the US Treasuries have rallied to three-year highs, although the increase in the longer-dated yields has failed to match the pace of the advance in the shorter ones. The spread between the two- and 10-year yields narrowed to its lowest since early 2020 on Tuesday. The flattening of the yield curve is usually indicative of a likely recession, as investors remain worried that the aggressive Fed’s tightening would damage the US economy over the longer term.At the March FOMC meeting, Fed Chair Jerome Powell said that the labor market is strong enough that a recession is unlikely. Although Powell remains optimistic about the economy and labor market, he said in his speech last week, “this is a labor market that is out of balance," adding "we need the labor market to be sustainably tight."To concludeMarkets are pricing in a roughly 60% chance of a 50-bps rate hike at the Fed’s May meeting.A slowdown in the hiring pace in the world’s biggest economy could likely feed the risks of a recession, especially in the face of soaring inflation. This could pour cold water on the recent Fed’s hawkishness.The ADP report, however, is unlikely to have any major impact on the US dollar and other related markets. Friday’s NFP release will hold the key to gauging the Fed’s policy action going forward.
Crypto Focus: Another Week of Solid Gains and Heavy Selling

Crypto Focus: Another Week of Solid Gains and Heavy Selling

8 eightcap 8 eightcap 01.04.2022 10:10
This week got off to a similar start as last, with buyers controlling momentum for the first four days of trade. Friday saw a heavy fade set up with half of the week’s gains cut on the top 10 and top 25 indexes after seeing just over 10% of gains to the week’s high. Some headlines have come out where Bitcoin has briefly moved back above 48K. Ethereum is set for an upgrade, and it’s being called a merge. This will be a joining of mainnet and the beacon chain proof-of-stake system. The ‘merge’ will mark the end of proof-of-work (PoW) for Ethereum in favour of the proof-of-stake (PoS) mechanism. This is due in the second quarter of 2022. Ronin hack, around 600 million was stolen from the Ronin network. A blockchain associated with the popular pay-to-earn game Axie Infinity. This was one of the largest hacks in Crypto history. Around 173,600 Ether and 25.5 stable coins were taken. Looking at this weekend and next week’s session, we are wondering if the current fade is short term or if something deeper is happening here. This is the third straight week of solid gains before heavy selling developed. Following on from the fade, Ripple is in an interesting position. Price failed at key resistance and has made a breakthrough the fast uptrend. Price bounced off the main uptrend but, for now, sits in no man’s land. A hold after the test of the main trend line could set up a new continuation higher, but if we see a break of the main trend line, this could suggest that a deeper correction could be underway. The post Crypto Focus: Another Week of Solid Gains and Heavy Selling appeared first on Eightcap.
CFD News: Oil, can buyers continue to hold from 95.50?

CFD News: Oil, can buyers continue to hold from 95.50?

8 eightcap 8 eightcap 11.04.2022 10:44
Today we’re looking at oil as price looks to have started to stall after a steady two-week decline. Key support continues to hold but seller signs remain. After the initial pullback buyers once again got price back into the 100 dollar area. This was short-lived after the US released emergency crude to overload supply and cut oil prices lower. The news had an immediate effect as oil prices fell back below the 100 dollar price level. At this stage, sellers look to be having a real issue at closing below $95.25. You can see below on the daily chart the strong level of support that has formed. This level runs back to February when it switched from minor support to the current key support. We are also noticing a new double bottom that has also started from around the support area. A new trend lower remains in play and we have seen two LHs set up during the decline. The CCI is also in bearish territory trading below the 0 line. So far sellers are missing a new LL to qualify the pattern of trend. This is where the demand/support level really comes into play. If buyers can maintain it we could see a new move higher develop. A new HL off the level backs up the level and growing buyer strength. A breakthrough with a close below support sets up the idea that the current move lower is not over and the 90 dollar area could be a lower target. The next several sessions should be interesting for oil and hopefully, give us an idea of the direction to come. We are wondering if we do see a new rally above 100, will the US release more oil to quash it? Oil D1 Chart The post CFD News: Oil, can buyers continue to hold from 95.50? appeared first on Eightcap.
The Rules, Part LXXII

The Rules, Part LXXII

David Merkel David Merkel 26.03.2022 05:21
Picture Credit: Kailash Gyawali || There are times when despair is rational “There are two hard things in trading — buying higher, and selling lower.” Currently I am selling out my position in an illiquid stock. I am patient, but I can tell that my selling is having an impact on the market. Back when I was a corporate bond manager, I quickly learned that I had to scale in and out of positions. Even for the most commonly traded bonds, the market isn’t that liquid. While not lying to the brokers, learning to disguise your intentions, or at least frame them properly took some effort. One method I commonly used worked like this: “We need some cash. If you have someone wanting to buy $2-5 million, we will offer these at the 10-year Treasury + 150 basis points, $6-10 million T10 + 140 bps, and if they want to buy the whole wad (say 20-30 million), T10 + 125 basis points. Prices would ascend with size in selling. Prices would descend with size in buying, particularly for troubled bonds that we liked. Usually the brokers appreciated the supply or demand curves that I gave them. Frequently I ended up selling the “the wad,” which we were usually selling because our credit analyst had a reason. But life is not always so happy. Sometimes you have an asset that either you or the organization has concluded is a dud. Many people think it is a dud. How do you sell it? Should you sell it? There are options: you could hold an auction, but I will tell you if you do that, play it straight. Your reputation is worth far more than if the auction succeeds or not. You can set a reservation price but if the auction doesn’t sell, you will lose some face. Or you can test the market, selling in onesies an twosies ($1-2 million) seeing if there is any demand, and expand from there if you can. What I tended to do was go to my most trusted broker on a given bond and say, “I don’t have to sell this, but we need cash. Could you sound out those who own the bonds and see what they might like to buy a few million?” If we get an interested party, we can sound them out on buying more a an attractive price. But life can be worse, imagine trying to sell the bonds of Enron post default. Yes, I had to do that. And I had to sell them at lower and lower prices. (Kind of like the time I got trapped with a wad of Disney 30-year bonds.) And there is the opposite. You want to have a position in an attractive company, and you can’t get them at any reasonable price. You could give up. You could “do half.” Or you could chase it and get the full position, only to regret it. If you invest with an eye toward valuations, this will always be a challenge. All that said, if you focus on quality, these issues probably won’t hurt you as much. In any case, do what must be done. If something must be bought, buy it as cheaply as possible. If something must be sold, sell it as dearly as you can. Hide your intentions, while offering deals. In doing so, you may very well realize the most value.
Welcome Back to 1994! [Redux]

Welcome Back to 1994! [Redux]

David Merkel David Merkel 10.05.2022 03:17
Image Credit: Aleph Blog with help from FRED || Look at the mortgage rates fly! Okay, you might or might not remember the last piece. But since that time, 30-year mortgage rates have risen more than 1%. Is the Fed dawdling? Maybe, but the greater threat is that they become too aggressive, and blow up the financial economy, leading us into another decade-long bout of financial repression. As it stands right now, mortgage rates are in a self-reinforcing rising cycle, and it will not end until the Fed raises the Fed funds rate until it inverts the Treasury yield curve. But if I were on the FOMC, I would ignore inflation and the labor markets, and I would watch the financial economy to avoid blowing things up. The FOMC won’t do this. They are wedded to ideas that no longer work, or may never have worked, like the Phillips Curve. They imagine that the macroeconomic models work, when they never do. They forget what Milton Friedman taught — that monetary policy works with long and variable lags. Instead, in tightening cycles, the FOMC acts as if there are no lags. And, in one sense, they are correct. The financial economy reacts immediately to FOMC actions. The real economy, with inflation and unemployment, may take one or two years to see the effects. And because the FOMC forgets about the lags, they overshoot. The FOMC, far from stabilizing the economy, tends to destabilize it. We would be better off running a gold standard, and regulating the banks tightly for solvency. Remember, gold was never the problem — bad bank regulation was the problem. ======================= One more thing — the Fed needs to be quiet. The chatter of Fed governors upsets the markets, as do Fed press conferences and the dot-plot. The Fed was most effective under Volcker and Martin. They said little, and let their actions be known through the Fed’s Open Markets Desk. That allowed the Fed to surprise and lead the markets. The current Fed (since Greenspan) made the mistake of following the markets. Following the markets exacerbates volatility, and promotes oversupplying liquidity. ======================= At present I am pretty sure 30-year mortgage rates will rise to 6%, and maybe 7%. No one is panicking enough on this, so it will likely go higher. MBS hedging is a powerful force, and will continue until people no longer want to buy houses at such high interest rates.
Hedging as an effective form of protection from loss

Hedging as an effective form of protection from loss

Purple Trading Purple Trading 09.06.2022 12:19
Hedging as an effective form of protection from loss On the markets, it is used by both professional traders and big players such as banks, investment funds, and others. No wonder, because if you master hedging, it can help you to significantly reduce potential losses and keep you profitable. In this article, we'll show you how to hedge and which instruments are suitable for that. What is hedging? It is a kind of insurance in the form of a trading strategy. It is designed to mitigate potential risks. In hedging, traders (and also financial institutions) hold positions on assets/contracts that have an inverse relationship to each other and thus develop inversely. When one instrument falls, the other rises and vice versa.   Benefits There is one significant advantage to being "hedged". Namely, traders, with this form of insurance, are able to reduce the risks on their opened trading positions and thus better respond to adverse market developments that threaten these positions. At the same time, they have the comfort of being able to guess in advance the value of the maximum potential loss in the event that something goes wrong in the markets. Hedging is thus a really important tool in risk management.   Disadvantages Hedging is essentially a form of insurance. And as it happens, you have to pay for insurance. The same is true for investing in opposing instruments. By having one investment grow while the other declines, you lose a certain amount of potential profit. A theoretical example of hedging We have a trader who buys stock XY for $1000. He decides to hedge and to do so he chooses to buy a six-month put option for $100 with a strike price of $850. This means that our trader has half a year until the option expires to sell his stock at 850USD in case the market is unfavorable for him).   If the share price rises A six-month put option is about to expire and the share price is higher than 850 USD (e.g. 1150 USD). The trader will therefore logically not exercise his option, thus losing 100 USD (the original price of his option). However, by keeping XY stock, which is now worth 1150 USD, his net profit is 1050 USD (1150 - 100). As we wrote above, the hedging in this case reduced the trader’s overall profit, but that is a tax he needs to pay for being “insured”. The following example will show you what would have happened if the trader had not hedged.   The share price plunges In an alternate universe, our trader did not do well and the market gave him a slap in the face in the form of a drop in XY's share price to $600. However, our trader has hedged and exercises his still unexpired option. He can then sell his stock at the option price of the announced 850 USD. In this case, his total loss is 250 USD (850 - 600). If we would take a look at our trader in yet another alternative universe where he has not hedged, his loss would be 400 USD (1000 - 600). CFD hedging: the S&P500 and VIX index The current market developments, influenced by high inflation and the war in Ukraine, are not good for the markets. According to the VIX index, nervousness in the markets will continue to rise and stock indices like the SP500 are currently heading in exactly the opposite direction. However, did you know that these 2 mentioned indices can now be traded in Purple Trading to get a rather effective hedging tool? At Purple Trading, traders now have a unique opportunity to hedge using CFD futures contracts. Namely, we are now launching CFD futures symbols in the form of the VIX index and S&P500, which traders can find in their Purple Trading MT4 platforms. Both symbols have a highly inverse relationship with each other, which is why they are widely sought after when it comes to hedging. Chart 1: Six-month S&P500 price trend (note the apparent inverse relationship with the VIX chart below; source: Googlefinance.com) Chart 2: Six-month VIX price trend (note the apparent inverse relationship with the SP500 chart above) Relationship between VIX and S&P500 The VIX index is often called the fear or nervousness index. Its chart indicates the estimated future nervousness in the markets. This manifests itself in the form of volatility, i.e. sharp and seemingly random price fluctuations caused by nervous investors who are buying/selling more than usual. Thus, if the VIX index shows an increase, volatility/nervousness in the markets can be expected to increase. The exact opposite is true for the S&P500. It outright hates volatility and nervousness in the markets and if it is announced, the S&P500 usually starts to fall. This is due to nervous investors withdrawing from the stock markets to seemingly safer havens, which is gold for example. Thus, if the VIX index (hence volatility) rises, the S&P500 falls and vice versa. Effective hedging is one of the reasons why Purple Trading clients are among the most profitable in the EU FAQ
Estimating Future Stock Returns, March 2022 Update

Estimating Future Stock Returns, March 2022 Update

David Merkel David Merkel 14.06.2022 05:51
Image credit: All images belong to Aleph Blog Well, finally the bear market… at 3/31/2002 the S&P 500 was priced to return a trice less than zero in nominal terms. After the pasting the market received today, that figure is 3.57%/year nominal (not adjusted for inflation). You would likely be better off in an ETF of 10-year single-A rated bonds yielding 4.7% — both for safety and return. I will admit that my recent experiment buying TLT has been a flop. I added to the position today. My view is that the long end of the curve is getting resistant to the belly of the curve, and thus the curve is turning into the “cap” formation, where the middle of the curve is higher than the short and long ends. This is a rare situation. Usually, the long end rallies in situations like this. The only situation more rare than this is the “cup” formation where the middle of the curve is lower than the short and long ends. I will have to update my my old post of “Goes Down Double-Speed.” We’ve been through three cycles since then — bear, bull, and now bear again. People get surprised by the ferocity of bear markets, but they shouldn’t be. People get shocked at losing money on paper, and thus the selloffs happen more rapidly. Bull markets face skepticism, and so they are slow. What are the possibilities given where the market is now? When the market is expecting 3.57% nominal, give or take one percent, what tends to happen? Most of the time, growth at these levels for the S&P 500 is pretty poor. That said, market expectations of inflation over the next ten years are well below the 4.7% you can earn on an average 10-year single-A rated corporate bond. Those expectations may be wrong — they usually are, but you can’t tell which way they will be wrong. I am still a believer in deflation, so I think current estimates of inflation are too high. There is too much debt and so monetary policy will have more punch than previously. The FOMC will panic, tighten too much, and crater some area in the financial economy that they care about, and then they will give up again, regardless of how high inflation is. They care more about avoiding a depression than inflation. They will even resume QE with inflation running hot if they are worried about the financial sector. The Fed cares about things in this order: Preserve their own necksPreserve the banks, and things like themFight inflationFund the US GovernmentPromote nominal GDP growth, though they will call it reducing labor unemployment. The Fed really doesn’t care about labor unemployment, or inequality. They are a bourgeois institution that cares about themselves and their patrons — those who are rich. I know this post is “all over the map.” My apologies. That said, we in a very unusual situation featuring high debt, high current inflation (that won’t last), war, plague, and supply-chain issues. How this exactly works out is a mystery, especially to me — but I am giving you my best guess here, for whatever it is worth. It’s worth than double what you paid for it! Full disclosure: long TLT for clients and me
The movie that changed futures trading once and for all

The movie that changed futures trading once and for all

Purple Trading Purple Trading 14.06.2022 08:01
The movie that changed futures trading once and for all There is more than dozen of films about financial markets. However, there is only one that had such an impact that it led to a legislative change in the commodity futures market. Which movie are we talking about and what changes it introduce in regards to commodity trading? Read on! Holywood’s fascination with financial markets Holywood is no stranger to depicting the world of financial markets. The subject became particularly attractive in the 1980s, when it became clear that market capitalism was more viable economic model than central planning of the Eastern Bloc, resulting in many films set in the stock market environment, majority of which focusing on Wall Street. However, only one of these films has managed to leave a mark in the memory of viewers as well as in law textbooks. Trading Places - a probe into the world of commodity trading Brothers Mortimer and Randolp Duke are bored billionaires who own a commodities trading brokerage firm. One day, as a part of somewhat cynical bet, they decide to swap the lives of a young and promising businessman, Louis Winthorpe III (Dan Aykroyd), and a street hustler, Billy Ray Valentine (Eddie Murphy). They want to crush the dreams of the former while helping the latter to become familiar in the world of financial markets. From today's perspective, the film is a unique probe into the workings of the financial markets before they were heavily computerised. In addition to the brilliant scenes in which are the Duke brothers explaining to Billy Valentine how commodities trading works, we also get a glimpse behind the scenes at the New York Board of Trade, where commodities are traded (climactic trading scenes were actually filmed there). The bulk of the plot and the main storyline then revolves around the trading of Frozen Concentrated Orange Juice (FCOJ), specifically the futures contracts of this commodity. Eddie Murphy rule   This rule, officially titled "Section 136 of the Dodd-Frank Wall Street Transparency and Accountability Reform and Consumer Protection Act, under Section 746" (but commonly referred to as "the Eddie Murphy rule"), prohibits the misuse of internal government information for the purpose of trading in the commodities markets. No one likes spoilers, so if you haven't seen this movie, we won't give away the plot and the denouement of the final scene of the entire movie. We'll just mention that shorting of FCOJ futures plays an important role here. In fact, so important, that this scene is reportedly often reference by traders on the New York Stock Exchange. Figure 1: The final scene of the film that initiated the inception of "Eddie Murphy rule" (source IMDb.com) Trading FCOJ futures today Although nowadays you don't see crowded rooms full of white collar men and women trying to buy low and sell high, FCOJ futures trading still exists. The only main difference is that rooms and phones have been replaced by computer screens and cubicles. Also, virtually anyone can trade today. If you are interested in trying out CFD trading of FCOJ futures, at Purple Trading we have recently introduced this instrument to our trader platforms. Just like our heroes of Trading Places, you can short (and long) and potentialy profit from both favourable and unfavourable market situations. The only difference is that you won't be able to use government information to do so, because Eddie Murphy Rule wouldn't allow you to.
What role does the broker infrastructure model play in your profitability?

What role does the broker infrastructure model play in your profitability?

Purple Trading Purple Trading 27.06.2022 12:31
What role does the broker infrastructure model play in your profitability? The layout of a broker's trading infrastructure is usually not something that would capture the attention of too many traders. However, did you know that a surprisingly large number of brokers do not send their clients' trade orders to the real market, but rather create an artificial counterparty themselves are market makers? This creates motivation for order manipulation, which, on the other hand, is indeed something that traders should be interested in. What is the broker infrastructure model? The broker model refers to the way in which a broker's trading infrastructure is built to process the trading orders of its clients. While it may seem that way, when trading, an order entered by you into the platform may not always travel to the interbank market where it is then expected to be paired with an order from another trader or institution. In fact, there are models that do not send your trade orders to the interbank market. Instead, they form a counterparty to your order immediately, on their side. Market maker model (MM) Brokers of this type are usually among the larger ones on the scene. In order to act as a counterparty to all their clients' trades, they need to have a really high level of liquidity. However, this could lend them a fair amount of motivation to meddle with the trading results of their clients. If it is a proven broker without a dark past, there is probably no reason to worry. However, there are known cases where even larger brokerage firms have artificially increased slippages, set minimum stop loss intervals, or influenced their clients' transactions in other similar ways. The reason for this behavior is quite clear. In the MM model, all losing client trades go back to the broker (not to the interbank market, where they would end up in other broker operating models). Thus, brokers built on the MM model may have a vested interest in the loss-making performance of their own clients.   Figure 1: Schematic of the MM broker's operation STP model From the "straight-through processing", brokers of this type have their infrastructure set up in such a way that they can only match their clients' orders with orders from so-called liquidity providers in the interbank market. The broker in this case charges a commission on each trade in the form of a slightly higher spread and matches clients with entities in the real market. Liquidity providers (LP) The quality of an STP broker is largely shaped by the nature of the liquidity providers with which it works.   Another broker operating on a market maker model or a bank. MFT - multilateral trading facility - a type of exchange on which different participants are linked together. Prime of primes - this provider collects prices from the interbank market and combines them with other offers from financial institutions. This LP thus has the ability to provide the best prices to the broker's clients.   Figure 2: Difference between STP and MM broker model Hybrid model Combination of STP and MM models. A broker based on the hybrid model has the ability to send a certain part of client orders to the interbank market and act as a counterparty for the rest. The broker thus has the ability to "get rid" of profitable clients by sending their orders to an external entity. How to find out which model is broker built on? Recognizing a broker's model may not be easy at first as it requires at least a partial orientation on the broker's website. The safe bet, however, is to check the broker's license directly on the Regulators website. The information about the infrastructure model is listed there in black and white. Just look up whether the broker is authorised to "deal on own account". STP model brokerage will not have it there. Figure 3: An example of the types of services Purple Trading can perform under its license (source: https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/72454/) What role does the broker model play in your profitability? While there is no way to equate a broker's model with the profitability of its clients, there are certain things that cannot be overlooked. While an STP broker has the same rate of earnings whether your trade is successful or not (because it profits from spreads), the MM and hybrid models can already benefit from your potential failures. Let's also mention the fact that by forming a counterparty to your trades on their side, these brokers potentially have the motivation to manipulate the market to their advantage. So as a trader, you logically have to wonder whether a broker who has such tools in his hand is not abusing them to enrich himself at your expense.
Investors? Bulls? Bears? These Series Are Linked To Finances

Investors? Bulls? Bears? These Series Are Linked To Finances

Purple Trading Purple Trading 15.07.2022 14:23
5 must-watch series from the world of finance With the boom of streaming services, investors are presented with often exciting opportunities. But today, we'll try to move away from looking at the world through the eyes of an investor and focus more on the content that streaming services offer. More accurately, we will take a look at the series that can be found on these platforms. But don’t worry, we won’t get too far from our beloved world of finance either. Financial world has always been an attractive subject not only for Hollywood screenwriters. Classics such as Wall Street (1986) and Wolf of Wall Street (2013) have not only grossed millions of dollars world-wide but even managed to convince many viewers into starting their own careers in finance. However, with the rise of streaming services, finance has also taken centre stage for a number of series. Some of the most well-known are the HBO-produced series Billions (2016) and Succession (2018). Today, let's take a look at a few lesser-known, but definitely not inferior series from the world of finance that are simply a must-watch. Devils (Sky, 2020) - a probe into investment bank’s speculation during global crises Produced by Italian broadcaster Sky, Devils is one of the most interesting European series in years. The plot follows Massimo Ruggero, who has risen from rags to riches as a head of the trading desk of the New York London Investment Bank (strikingly reminiscent of Goldman Sachs).   Massimo and his team speculate on the financial markets during the biggest events of the last 12 years. This gives viewers an insight into the behaviour of investment banks during the mortgage crisis, the Greek debt crisis and the Brexit vote, for example. The series is enriched with real time footage of international financial institutions meeting, mixing fiction with reality.   The second season premiered a few months ago and is of equal quality. With the main roles being masterfully played by Alessandro Borghi (known from the Suburra series and the film) and Patrick Dempsey (known from the Surgeons series).     Industry (HBO, 2020) - a series written by the bankers themselves Industry provides a grim and realistic look at what it's like to start a professional career in the financial sector in the heart of London. Here we follow a group of young bankers as they are trying to work their way up to a full-time position at one of London's investment banks, having to navigate this cutthroat and competitive environment as quick as possible.   The series captures well how depressing a given career can be and partially subverts any standards that may have been ingrained by titles such as Wall Street or Billions, taking off the rose-colored glasses of the viewer. Industry simply shows how challenging and competitive a career in finance can be.   As we watch the story of two main protagonists, experiencing their first successes and failures we simply have to wonder - will the desire for success and money prevail, or will the young bankers realise that there is more to life than the pursuit of money? The series, created by two former bankers, has completed its first season, with a second to follow later this year (2022).     Black Monday (Showtime, 2019) - when crisis meets satire   Welcome to the 1980s! A decade full of extravagant hairstyles, clothes and one of the biggest stock market crises in history. We're talking about "Black Monday", a single day in October 1987 during which world stock indices fell by tens of percent. As bleak as it might sound, Black Monday is the most light-hearted series on this list.   The series follows a group of traders from a second-rate Wall Street firm called the Jammer Group and uses satire and fiction to reveal the events that led to the aforementioned stock market crash. Don Cheadle, known from the Avengers franchise, stars in the lead role. The series ended after three seasons, all of which are currently available on HBO.   The Dropout (Hulu, 2022) - based on true events Enron, Worldcom and Theranos. Three of the biggest investor scams in decades. The Dropout series follows the story of Theranos - a company that promised to revolutionize blood testing. Founder Elizabeth Holmes managed to create an aura of success around herself and Theranos, fooling the biggest investment banks and the most famous investors. The company's market capitalization gradually climbed to $9 billion, which was almost unbelievable given the lack of a fully functional product.   The series reveals the rise and fall of the company and its founder, who went from being a female copy of Steve Jobs to an outlaw. However, If you're not too keen on dramatization of real events, we recommend watching the HBO documentary The Inventor: Out for blood in Silicon Valley. It also deals with this topic.   WeCrashed (Apple TV+, 2022) - when the marketing strategy goes too far   Investors who have followed the events of the US stock markets in recent years will immediately know that behind the title of this series lies the story of WeWork, a company that operates a network of co-working offices around the world. However, comparing WeWork to Theranos would be rather harsh, but there are several similarities.   The company's founder, Adam Neumann, has used a great marketing strategy to attract several major investors, most notably Softbank founder Masayoshi Son. Investors then valued the company at a hard-to-believe $47 billion ahead of its planned IPO. As the title of the series suggests, things did not go quite as planned. You can look forward to seeing well-known actors Jared Leto and Anne Hathaway in the lead roles.   Are you tempted by the world of stocks and even more so by shorting them?   At Purple Trading, you now have the opportunity to speculate on the rise and fall of more than 100 of the world's most famous companies and ride the current trend. And if you don’t feel like risking your own money, you can try it with virtual ones on our free demo account.  
Crypto: Bitcoin Price Chart (BTC/USD) - What Do We Learn?

Crypto: Bitcoin Price Chart (BTC/USD) - What Do We Learn?

8 eightcap 8 eightcap 15.07.2022 12:08
Another mixed week traders. We started the week with declines that started last weekend and dragged into the week as sellers looked to have taken control. In a positive twist, buyers emerged on Wednesday and stopped the move lower. We saw an average-looking spinner bar that day, but it shifted momentum, and buyers set up a nice day on Thursday with just over 7% added to the top 10 and 7.90% to the top 25. The week centred on the continuing fallout from what’s been dubbed “the Crypto Winter” and the collapses of Three Arrows and Celsius. These two were big players in the industry, and their failures are still sending jitters through the industry. Things look bleak for leaders of TAC, as with last reports suggesting outstanding loans won’t be able to be repaid. Reports also noted the directors of TAC could have gone into hiding. Both were reported by articles on CNBC this week. Continuing to move on with the positive, today we’re seeing price continue its rebound with new two-day highs on the CRYPTO10 and CRYPTO25 indexes. As usual, opinions are divided on whether we will see a new extension lower or if we could be in a technical pause that could turn into a rebound. We are going to break down bitcoin and put forward or ideas on what we would like to see happen, to say yes, we could have a rally or the warning signs that we could see a new extension lower. There is talk from other analysts that Bitcoin could still have to make one more leg lower before it could find a bottom. The general lower price area is seen from 15,000 – 13,000. This is a slightly longer outlook for Bitcoin, but we feel that the current position and pattern is important not only for the next step in BTC but also for Crypto, as we all know that Bitcoin still drives most of the top caps in the market. Incorporating some of the points above about one more leg down this can be seen in the chart with price currently sitting in a consolidation pattern in two downtrends. We can see a triangle around the current consolidation, but we can also see two clear key levels of support and demand holding the current price action. Price has also lined up nicely with a return to the faster downtrend. The OBV also shows a pattern we have seen in the recent declines. And like price the OBV has also returned to its downtrend. So it is rather simple for us, break the triangle and break support. We could be seeing the start of a new extension lower. If buyers can break above resistance and through the fast downtrend, we could be looking at a deeper move higher. The post Crypto Focus: We’re seeing price continue its rebound appeared first on Eightcap.

currency calculator