Technical analysis platform, Updata, has announced a partnership with data provider, Global Financial Data. The GFD database includes commodities, economics data, FX, equities and fixed income data with stock data on 50,000 securities going back to 1789.
The Eurostoxx 50 of the largest cap stocks are outperforming the DJ Stoxx 600 but the next largest 150 are not, which is usually suggestive of a market top, according to Riccardo Ronco of Aviate Global.
The 30 year yield of the German Bund is in overbought territory with the bigger picture suggesting still lower yields to come, says Chris Williams at Newedge. This view is further supported by the failure of the 30yr yield at the 2.527 level, and a continued weakness in stocks.
The euro has once again failed to break through the long term trendline that began in 2008 suggesting a bearish outlook for the currency, says Max Knudsen of ADS Securities. As such, the outlook remains negative whilst the currency remains below 1.3900.
top now seems to be in place for USD/RUB after having been heavily bought since January and the Ukraine crisis, says Chris Williams at Newedge. Having tested its 2009 high at 36.34 on a weekly basis, the ruble should target 34.00 over the next two months.
US-based research house, The Technical Analysis Group, presents its latest view on the 10-year Treasury including in-depth analysis of the medium and longer-term outlooks.
Hope has been replaced by fear with the US stock market since the start of the Ukraine crisis, says Walter Zimmermann of United-ICAP. This puts into doubt the previous target of 1923 for the S&P500 and opens the possibility of the end of the current bull market that begin at 666 in March 2009.
The short-term outlook for gold remains bullish with a rebound from the recent bearish leg targeting 1361 and then possibly 1434, says Maxime Veimont at BNP Paribas.
A close above 1.3818 triggers a bullish long-term trend reversal on a weekly basis for euro/dollar, according to George Davis at RBC Capital Markets.
With the South African rand at, or near, its lowest level against the major currencies for 40 years, there is now evidence that the ZAR is reversing direction, says Chris Williams at Newedge. As such, he recommending the buying of the rand and South African bonds this year.
