Soybean Futures ( ZS1! ), H4 Potential for Bullish Continuation

Type: Bullish ContinuationKey Levels:Resistance:1508.75Pivot:1469.00Support:1423.25Preferred Case:Looking at the H4 chart, my overall bias for ZS1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance level at 1508.75, where the previous swing high is.Alternative Scenario:Price may head back down to retest the pivot at 1469.00, where the previous high and 78.6% Fibonacci line are.Fundamentals:There are no major news.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/soybean-futures-zs1-h4-potential-for-bullish-continuation9"
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S&P 500 E-mini Futures ( ES1! ), H4 Potential for Bullish Rise

Type: Bullish RiseKey Levels:Resistance:4173.25Pivot:3913.25Support:3751.75Preferred Case:Looking at the H4 chart, my overall bias for SPX is bullish due to the current price approaching to cross above the Ichimoku cloud , indicating a possible shift to bullish market structure. If this bullish momentum continues, expect price to possibly head up towards the resistance at 4173.25, where the 78.6% Fibonacci line is.Alternative Scenario:Price could head back down to retest the pivot at 3913.25, where the 50% Fibonacci line is.Fundamentals:There are no major news.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/s-and-p-500-e-mini-futures-es1-h4-potential-for-bullish-rise9"
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How much should you save for retirement?

The majority of people under-save for retirement, but how much do you need for a comfortable life after work and what should you pay into your pot?

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The investment trusts and funds to buy for 2023

With 2023 rapidly approaching, Rupert Hargreaves looks at some of the top investment trusts and funds to buy for the new year, with the help of AJ Bell’s Alena Kosava.

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Air fryer vs microwave – which is cheaper to run?

We compare the costs of an air fryer vs a microwave to see which one is more cost effective.

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Market Spotlight: USDCNH Falling as China Reopening Story Gathers Pace

USD Under Pressure USDCNH has seen a sharp sell-off over the last week or so. Part of this can be attributed to the softening we’ve seen in USD while the other driver is clearly the developments we’ve seen in China. On the USD front, the greenback has been well sold recently though the perspectives behind the move have shifted somewhat. USD had been weakening over prior months in line with the growing view that the Fed would soon pivot on rates. This fuelled an unwinding of USD longs which drove the early part of the declines in USDCNH.US Growth ConcernsHowever, more recently an upside in US labour data (specifically jobs and wages growth) has raised concerns that inflation might have lost downward momentum last month. If this proves to be the case at next week’s CPI release, this might well see the Fed emphasising the need to push ahead with further rate hikes, even at a slower pace. This view is seeing renewed growth concerns in the US, weighing on USD near-term.China ReopeningLooking ahead, the pair looks vulnerable to further downside given the growing focus on China reopening. The latest data this week underscored just how impacted the Chinese economy has been by the government’s zero covid policy. This, in line with China easing a slew of covid restrictions this week, if fuelling expectations that China will undergo a full reopening sooner rather than later. As this story gathers more traction we can expect USD to continue to fall against a rebounding CNH.Technical ViewsUSDCNHThe reversal lower in USDCNH has seen the market forming a head and shoulders pattern with the recent sell off marking a break below the neckline at 7.0425. While below here and below the broken bull trend line too, the focus is on a continuation lower towards the 6.7811 level next in line with bearish momentum studies readings.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-usdcnh-falling-as-china-reopening-story-gathers-pace"
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Is it time to buy Gilts?

Gilts offer a higher yield than most savings accounts and could be an attractive alternative for those with a large lump sum to invest.

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Market Spotlight: BOC Meeting Not as Dovish as Some Expected

BOC Hikes and Keeps Options OpenThe Bank of Canada meeting yesterday was a more neutral affair than most were anticipating. The BOC hiked rates by a further .5%. in line with expectations. However, the accompanying language and outlook was not convincingly geared towards a pause. Interestingly, the market reaction to the meeting has seen CAD holding up for now, suggesting that CAD bears didn’t quite get the ammunition they needed.“Excess Demand”Looking at the breakdown of the comments, the BOC was seen showing some concern that the domestic labour market remains “tight” and the economy continues to run in “excess demand”. However, the BOC did contend that there is “growing evidence that tighter monetary policy is restraining domestic demand”. On inflation, the BOC noted that consumer prices are still too high though did note that there are some signs of inflation losing momentum.Rates OutlookFinally, then, on rates the BOC noted that it is “conspiring whether the policy rate needs to rise further”.  Clearly, there is room here for the bank to pause if deemed appropriate at the next meeting. However, there was no firm sign that a pause is coming and as such, CAD trader are left with a more neutral landscape and plenty of two-way risk moving forward.  The key now will be how inflation plays out over the coming months as well as the impact China reopening has on the global growth outlook. Falling oil prices suggest that the Canadian economy is likely to weaken a little near-term, cautioning against further rate hikes for now.Technical ViewsUSDCADThe recent breakout above the corrective bear channel has seen price trading up towards the 1.3839 level resistance. However, price has stalled for now. With momentum studies bullish, the focus remains on a continuation higher and a test of the level while above 1.3501. Below there, price might see a further downside test of the 1.3218 level.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-boc-meeting-not-as-dovish-as-some-expected"
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Dollar Slowly Gains Ground ahead of the Fed as Markets are Unsure about CB Pivot

After a positioning-driven rally in risk assets over the past couple of months, financial markets are returning to macroeconomic factors, where the 2023 global slowdown is in focus. Brent crude falls below $80 a barrel despite the OPEC+ supply cuts, bonds rise in price, and equities begin to lose some of their impressive rally from October lows. It is important to note that the US yield curve goes deeper into inversion (short-term rates are significantly higher than long-term ones). The 2-10 year Treasury curve is now inverted by 82bp. The behavior of the main market indicators resembles the anxiety of investors before the recession, but the Fed does not seem to be giving in. This environment remains favorable for the dollar and negative for commodity and pro-cyclical currencies. DXY has found support below 105 and could as well rise to 107 ahead of next week's FOMC meeting when the Fed is likely to signal little comfort with inflation with its Dot Plot.The main threat to the dollar's bullish outlook comes from the risk of any softer US price data for November (PPI released tomorrow, CPI next Tuesday) or a more positive reassessment of China's growth outlook amid Covid easing. However, poor China trade data released the day before serves as a reminder that the export environment will remain exceptionally challenging for China in 2023.It seems that EUR/USD trading has become more stable over the last week, however, EUR/USD realized weekly and monthly volatility is still above 13%. Last week's 1.0595 was a corrective high in EUR/USD - we should know much more by next Wednesday night after the FOMC meeting - and it will be interesting to see what the European Central Bank has to say about interest rates. Some speculate that the current lull in European bond markets may prompt the ECB to act a little more aggressively in its QT plans. Today, a couple of ECB speakers, Philip Lane and Fabio Panetta, are speaking, but it is unlikely that any of them will rebuke the market consensus on a 50 bp increase next week. For now, EUR/USD could drop to 1.0400 in calm markets.Trading conditions for the pound sterling have stabilized, with monthly trading volatility fairly stable around 12-13% and trading above 20% at the end of September. It looks like the stock market has grown enough for the moment that German bond spreads are now starting to widen again. In other words, the fiscal rally has exhausted itself, and the pound will no longer find strength here. If we turn to a more macroeconomic trading environment, then sterling should be lagging. The Fed, which remains hawkish, will return stock markets under pressure next week. This is generally a negative environment for the pound, where a large UK current account deficit is a downside factor. The GBP/USD pair has retreated from the strong resistance level at 1.23 and may return to the 1.19 area next week.The Bank of Canada (BoC) is making a monetary policy decision today. As discussed earlier, the consensus is split between a 25 and 50 basis point increase, but a half point increase looks more appropriate given strong economic activity and a very strong labor market. Nevertheless, the situation is almost enough for 50 bp, given that the expected economic downturn and the instability of the Canadian housing market speak in favor of a smaller rate hike. Markets are pricing this meeting at 35 basis points and are therefore slightly skating in favor of a quarter point gain: in the base case, the Canadian dollar should rise by 50 basis points on a hawkish surprise. However, the impact of BoC on CAD is likely to be short-lived as external factors remain more important. A sustained recovery of the Canadian dollar from these levels undoubtedly requires a recovery or at least stabilization in oil prices. Today USD/CAD may return below 1.3600, but short-term upside risks remain high.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/dollar-slowly-gains-ground-ahead-of-the-fed-as-markets-are-unsure-about-cb-pivot"
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Isas vs private pensions – which is better for retirement?

Isas are becoming a popular option for retirement, but private pensions still have certain advantages.

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Technical Trade Set Ups For BTCUSD, EURJPY & NIFTY

Technical Trade Set Ups For BTCUSD, EURJPY & NIFTY

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/technical-trade-set-ups-for-btcusd-eurjpy-and-nifty"
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Copper Futures (HG1!), H4 Potential for Bullish Continuation

Type: Bullish ContinuationKey Levels:Resistance:3.9600Pivot:3.6885Support:3.5545Preferred Case:Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly continue heading towards the resistance at 3.9600, where the previous swing high is. Alternative Scenario:Price may head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.Fundamentals:There are no major news.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/copper-futures-hg1-h4-potential-for-bullish-continuation7"
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UK house prices see their biggest fall since 2008

Halifax’s latest house price index shows UK house prices fell 2.3% in November

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Daily Market Outlook, December 7, 2022

Daily Market Outlook, December 7, 2022 China Re-opening Fails To Inspire, Trade & Tech Weakness WeighWeakness on Wall Street led by the Nasdaq selling off 2%, as tech names were hit hard, migrated to Asian markets overnight, lacklustre performance in the energy and tech sectors sent the Nikkei lower, with the Shanghai Comp and Hang Seng following suit all down circa 1%. China re-opening buzz was countered with dire trade data from the region, both exports and imports were impacted by Covid, further souring risk sentiment. Stateside, NBC predicts a Democrat win in the Georgia Senate runoff, this gives support to Democrat spending policies in the second half of the Biden administration, markets generally prefer political gridlock, and this projected win added to the pairing of risk appetite for investors, supporting the Dollar & US Yields for a second day.For the day ahead, Eurozone Q3 GDP data is expected to print at 0.2%, investors will parse the report for indications of new growth drivers in the single currency zone, and particular interest will be given to the employment component as investors assess the strength of the employment market across the region. US investors will focus on labour productivity for Q3, market watchers expect upward revisions to lower the rate at which unit labour costs advanced during the quarter, however, the Fed is still likely to deem the rate of increase as to hot and hindering their ability to achieve their inflation target. Across the border in Canada, the central bank is expected to deliver its seventh consecutive rate increase, the only question for markets is the size of the hike, over the last three months they have gradually reduced the rate of rises from 100bps to 50bps at the October meeting, markets are currently pricing at 25bps increase today, although, given continuing strength in domestic employment data, the bank may deliver a 50bps increase. As with the US, investors will be keen to gain a sense of where the bank views the terminal rate for the current cycle, with market watchers sensing that the bank may point to a pause in rate rises as soon as today or by the next meeting in January, with markets expecting a terminal rate of 4.30%, 60bps shy of where the US rate is expected to peak.  Markets-wise GSK is a standout performer this morning, soaring 13% in early trade as a US court has dismissed thousands of claims against the company's heartburn drug, claimant assertions that the drug caused cancer have been rejected. The US benchmark SP500 is teetering on the 3900 level, loss of this support will likely see further liquidation, adding support to bond yields and the Greenback ahead of next week's inflation data and Federal Reserve meetingOvernight HeadlineChina Is Said To Weigh GDP Growth Target Of Around 5% For 2023China To Ease Quarantine, Unnecessary Testing In New MeasuresChinese Exports Hit By Weak Global Demand And Covid DisruptionsChina Says Monetary Policy Should Be ‘Targeted, Forceful’Australia Economy Slows In Q3 As Inflation Saps Spending PowerBoJ’s Nakamura: Need To Continue With Easing PersistentlyJapan Business Mood Up, Global Slowdown Weighs On Outlook -PollRBI Raises Key Rate 35Bps As Expected, Inflation Remains ElevatedEU Steps Up WTO Cases Against China On Patent, Lithuania ActionUS Unemployment Rate Set To Surpass 5.5%, Economists Predict - FTDemocrats Expand Senate Majority After Winning Georgia Run-OffDollar To Rebound, Accumulate Safe-Haven Strength In 2023 - RTRS PollAustralia Front-End Yield Curve Inverted Amid Slowing GrowthOil Edges Up On China Demand Hopes; Russian Uncertainty WeighsRussia Could Ban Oil Sales, Set Maximum Discount In Response To CapAsian Stocks Fall As Growth Concerns Outweigh China OptimismEuropean Tech Groups Lose $400bn In Value Following Funding CrunchFX Options Expiring 10am New York CutEUR/USD: 1.0360-70 (1.07BN), 1.0600 (1.01BN)USD/JPY: 134.00 (920M), 136.15 (270M), 138.00 (435M), 140.00 (411M)EUR/JPY: 142.45 (274M), 147.00 (684M)USD/CHF: 0.9225 (250M), 0.9320 (600M), 0.9425 (420M), 0.9560 (400M)EUR/CHF: 0.9750 (281M)GBP/USD: 1.2050 (398M)EUR/GBP: 0.8650 (324M)AUD/USD: 0.6600 (225M)NZD/USD: 0.6350 (261M), 0.6450 (811M)USD/CAD: 1.3200 (1.3BN), 1.3300 (571M), 1.3395 (200M), 1.3540 (2.2BN), 1.3600 (1.27BN)Technical & Trade ViewsSP500 Bias: Bullish Above Bearish Below 3900Primary support is 3900Primary upside objective is 4120Failure at 3880 opens a test of 385020 Day VWAP bullish, 5 Day VWAP bearishEURUSD Bias: Bullish Above Bearish below 1.0450Primary support is 1.0450Primary upside objective is 1.0620Failure at 1.04 opens a test of 1.035020 Day VWAP bullish, 5 Day VWAP bearishGBPUSD Bias: Bullish Above Bearish below 1.21Primary support is 1.21Primary upside objective 1.24Failure at 1.2080 opens a test of 1.203020 Day VWAP bullish, 5 Day VWAP bullishUSDJPY Bias: Bullish above Bearish Below 137.70Primary resistance is 137.70Primary downside objective is 132Acceptance above 138 opens a test of 139.3020 Day VWAP bearish, 5 Day VWAP bullishBTCUSD Bias: Intraday Bullish Above Bearish below 16500Primary support is 16500 Primary upside objective is 18000Failure at 16400 opens a test of 1600020 Day VWAP bearish, 5 Day VWAP bullish

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-december-7-2022"
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