Investors are expecting an eventual reduction of support by the Fed, and Merkel winning the election this weekend. However, what stock markets have not priced in is the resurgence of Eurozone troubles into the headlines. So what are the options, why is this important and how will this effect markets?
London, UK; 18 September 2013: GW Pharmaceuticals plc (GWPH) announced today it has commenced a Phase 1 clinical trial of product candidate GWP42006 for the treatment of epilepsy.
USDCHF remains in downtrend from 0.9455, the rise from 0.9229 is likely consolidation of the downtrend. Resistance is now located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible. Key resistance is at 0.9340, only break above this level will signal completion of the downtrend, then another rise towards 0.9600 could be seen.
This week was always going to be a tricky one for both traders and investors, with the market’s primary focus being the FOMC meeting on Wednesday. The meeting at which the FED is likely to signal the beginning of the end of its bond buying program. Well, that’s the theory anyway, but given the less that stellar NFP data, this is far from certain.
As our readers know we like to look at the 52 week high list on down days to create a list of stocks to begin our stock selection process but even more important is the 52 week high list during a series of down session coupled with an overall weak month.
The Goldman Sachs (GS, quote) Hedge Fund Report was released this morning providing readers a significant amount of hedge fund data including the fund’s top holding based on their 13F filings from the second quarter.
Today’s Short-Term Forex Outlook Ahead of the Federal Reserve Statement
With 90 minutes before the start of a new week of trading in the U.S. markets – futures are pointing to a slightly lower open despite uncertainty whether the U.S. Federal Reserve will being tapering its $85 billion asset buying program.
USDJPY failed to break above the resistance of the downward trend line on 4-hour chart, and pulled back from 98.64, suggesting that the pair remains in downtrend from 101.53. Further decline would likely be seen, and next target would be at 96.00 area. Key resistance is located at the trend line, only a clear break above the trend line resistance could signal completion of the downtrend.
With the long summer days now coming to an end, it’s time to re-visit that perennial gauge of market risk, the VIX for a view of whether the equity market is indeed over bought, and likely to reverse dramatically.
