How to invest in ChatGPT and other AI tech changing the world

Technology, like ChatGPT, is changing the way we live and work, and this new tool could have a huge impact on the tech industry says Dominic Frisby.

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Bitcoin Might Reach New Heights Soon

Bitcoin broke the level of 22500. Currently, it remains flat before the next jump. So far, this asset is likely to hit the level of 25000. Next, Bitcoin might pull back from this level and undergo a large-scale correction. The asset could potentially gain the required support at the level of 21000 and jump. The price of Bitcoin might also rise from the current point, considering the formation of a flag or a pennant signifying the continuation of the current trend. So, let’s observe what will happen next.The currency pair EUR/USD has pulled back from the broken level of 1.0785. The asset might face resistance at the level of 1.1100. The price of this currency pair might jump at the beginning of next week.American index S&P 500 has pulled from the broken level of 3920 and formed an engulfing at the end of the trading week. This signifies a potential price growth. Once the price of the index approaches the downtrend, it might either slow down a bit or reverse and pull back down. Only time will tell what is about to happen next.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/bitcoin-might-reach-new-heights-soon"
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Market Spotlight: EUR Rallies on Hawkish ECB Comments

Knot Reaffirms Hawkish ECB OutlookEUR has started the week on a strong footing following further hawkish ECB commentary over the weekend. Dutch ECB member Klaas Knot told reporters over the weekend that he believes the ECB will hike rates by a further .5% at both the upcoming February and March meetings. Furthermore, Knot warned that the bank would not be done following these adjustments and cautioned markets to expect more action in both May and June.Looking beyond that, Knot said that it was hard to tell if the ECB would be done tightening by summer but suggested that of course there would come a time when the inflation outlook was more balanced. In that scenario, Knot suggested the bank could then step tightening back a level though said that the ECB is still far away from that point currently.Knot’s comments come fresh on the back of last week’s comments from ECB chief Lagarde. Lagarde warned that inflation was still way too high in the eurozone, reaffirming the need for the ECB to keep pushing ahead with rates until CPI was back at its 2% target.ECB Not Pivoting Anytime SoonThese recent ECB comments suggest a clear effort on behalf of the bank to push back against any speculation that it might be close to pivoting on rates. With the Fed mid-pivot and other central banks pivoting or close to pivoting, the ECB has reaffirmed its view here, making the lines around policy divergence between itself and other central banks quite clear. In light of this, EUR looks likely to stay well supported near-term particularly against USD and JPY.Technical ViewsEURUSDThe rally in EURUSD has seen the market pushing higher within a clear bull channel off last year’s lows. Price is currently testing above the 1.0785 level and, while it holds above here, the focus is on a further push higher towards the 1.1126 level next. However, we are seeing bearish divergence in momentum studies and should price slip back below the level, focus will turn to the channel support and 1.0346 next.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-eur-rallies-on-hawkish-ecb-comments"
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Market Spotlight: AZN Shares At Risk of Deeper Drop

AZN Stock Under Pressure Shares in UK-headquartered AstraZeneca are back under heavy selling pressure on Monday as the stock extends recent losses. Now trading down by almost 7% from the 2023 highs, the company recently outlined plans to buy US bio-tech Firm Cin Cor for $1.8 billion. However, it seems that stockholders are not overly enthusiastic about the deal given the current price action we’re seeing.Sales DisappointmentsOne reason for this, perhaps, is that the company has been suffering from weaker earnings growth when compared with the rest of the industry. The current decline is suggesting there is some caution about such a big outlay of capital at the start of the New Year. The stock is also likely suffering from the impact of recent sales disappointments. AstraZeneca announced last week that it was pulling its Lumoxiti (treatment for rare blood cancer) from US markets on the back of poor sales results. This comes a few years after the drug was also pulled in Europe, again due to unsatisfactory results.Near-Term Downside RisksWhile The company has seen a solid string of earnings reports since the last negative quarter in Q3 2021, there is perhaps some hesitation with AZN viewed more as a dividend stock than an earnings growth stock. The company saw its value balloon over the early part of the pandemic as profits linked to its covid vaccine helped drive valuations higher. However, as more companies brought their vaccines to market these profits have been eroded. While the stock remains well above pre-pandemic levels for now, risks of a deeper correction are growing with the upcoming earnings reportTechnical ViewsAZNThe stock has been moving with a shallow bullish channel over the last 9 months. However, we’ve seen strong bearish divergence on each fresh peak and with price having now reversed back under the 11538 level there is risk of a deeper run down towards the bottom of the channel, ahead of deeper support at the 9534 area.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-azn-shares-at-risk-of-deeper-drop"
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Precious Metals Monday 23-01-2023

Metals Market Reflects Uncertainty Ahead of Fed The metals market has certainly had an interesting start to the year. While golds futures have been broadly higher, breaking out to fresh YTD highs in consecutive weeks, price action in silver has been much more laboured. With gold prices starting the new week with a more offered tone, we are now looking at the prospect of a correction lower near-term. This is more interesting given the subdued action we’re seeing in US Dollar. In short, current price action reflects a great deal of uncertainty and indecision in the market ahead of the upcoming FOMC meeting next week.Recently, there has been a growing view that the Fed will look to pivot further when it meets next week, opting for a smaller .25% hike (down from December’s .50% hike). If seen, this would certainly send USD lower near-term, creating room for metals prices to advance higher. However, if the Fed surprises markets and sticks with a further .5% hike, this would likely be firmly bullish for USD near-term, fuelling an unwinding of short positions which would see metals prices moving quickly lower once more.With the Fed now in its pre-meeting blackout period and with Chinese markets offline all week for the holiday there, focus will likely turn to incoming economic data. A slew of global PMIs this week as well as US advanced GDP and core PCE will be the headline readings to watch. Additionally, developments within the US earnings backdrop will be closely watched. Any fresh concern around recession risks will likely lend themselves to increased safe-haven support for metals.Technical ViewsGoldThe rally in gold prices has become a little more laboured recently though, for now, the focus remains on further upside. Price is currently holding above the recently broken 1916.34 level and, while above here, the focus is on a further push higher towards 1973.51 next. Worth noting we are seeing some bearish divergence on momentum studies, however. If price moves back under the current level, 1871.04 is the next support to note.SilverThe price action we’ve seen in silver recently has been very frustrating for bulls and bears alike. Price is essentially caught in a choppy range, oscillating around the 24.0073 level. While still within the bull channel off last year’s lows, focus remains on a further push higher and an eventual move up to the 26.0974 level next. However, should we slip lower from here 22.3205 is the next support to note.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/precious-metals-monday-23-01-2023"
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The Year of the Rabbit: is it time to invest in China?

This weekend marks the Chinese New Year - but what will the Year of the Rabbit bring to investors looking to invest in China after a turbulent 2022?

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USD remains range-bound on dovish Fed rate hike outlook

Asset markets are somewhat sluggish and reluctant to recover on Friday, following Thursday’s drop, which saw S&P 500 breaking through 3900 points. Dollar was slightly bid on the back of growing risk-off, however, during this week the DXY appears to remain in equilibrium in the range of 102-102.50:Despite a slew of negative updates on the US economy for December (ISM indices, retail sales, industrial orders, etc.), the labor market continues to shine bright. Thursday data on unemployment claims showed that the number of applications not only did not increase, but even decreased, and significantly: initial claims from 205 to 194K, continuing claims fell to 1647K against the forecast of 1660K. Another positive aspect of yesterday's eco data was the pace of housing construction: housing starts declined in December, but were higher than estimates - 1.382 million against the forecast of 1.359 million.On the side of US energy consumption, which is obviously correlated with the business cycle of the economy, there is a worrisome moment: both crude oil and gasoline inventories have been growing at a high pace for more than a week in a row. EIA data released on Thursday showed that oil inventories jumped 8.5 million barrels, indicating a sharp decline in oil refining, while gasoline inventories jumped 3.4 million barrels against a forecast of 2.5 million:The ECB reacted sensibly this week to reports that a rate hike of just 25 basis points was being considered. Christine Lagarde repeated her recent hawkish rhetoric yesterday, and the minutes of the December meeting all but confirmed the growing pressure from hawks on the governing board. The details of the "deal" with a more moderate short-term outlook were quite clear: a conservative 50bp hike in December was acceptable only with a preliminary commitment of two increases of 50 bp in February and March. This is good news for the euro, and as long as the data from the US remains weak, EUR/USD should benefit from a rather favorable rate differential. A test of 1.0900/1.0950 is expected next week but things are pretty quiet today as the eurozone calendar is empty and Christine Lagarde shouldn't surprise with anything new as she speaks again in Davos. The UK retail sales data for December was released this morning and was rather disappointing. The numbers are down by about 1% m/m and follow another drop in consumer confidence, according to data released earlier this morning. GDP in the fourth quarter is unlikely to change. But continued weakness in consumption and some expected decline in other areas (possibly in construction/manufacturing) means GDP in the first quarter is likely to fall by more than 0.5%.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usd-remains-range-bound-on-dovish-fed-rate-hike-outlook"
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Croatia without the crowds

Dubrovnik and Split still have plenty of charm in the low season

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Daily Market Outlook, January 20, 2023

Daily Market Outlook, January 20, 2023 Chinese Market Head Into Lunar New Year Near Bull Market TerritoryAsian equities close out the week on a firm footing as Chinese investors wind down ahead of  next week’s lunar new year holiday. Western markets remained subdued as FOMC vice chair Brainard, deemed to be in the dovish camp, made remarks that were more aligned with the ‘higher for longer’ view on US interest rates . European Central Bank Chief Lagarde appearing at the World Economic forum in Davos also struck a hawkish tone in her speech, stating that  inflation remains “way too high”, Lagrade speaks again today and is likely to reiterate her hawkish stance. UK data out this morning  confirmed concerns regarding the UK consumer as January GfK consumer confidence dropped  to -45 from -42 in December, although still at depressed levels this print remains above the record lows seen in September -49, however, sentiment with respect to UK personal finances for the year ahead showed some signs of improvement, retailers will take little solace from this given December retail sales dropped  for a second consecutive month, declining 1.0%, led by lower non-food sales while grocery sales were modestly weaker. The ONS highlighted that  consumers were cutting back due to increased prices and ongoing affordability concerns linked to the cost of living crisis.In the Eurozone, German producer price inflation retreated for a third month in a row  to print  21.6% in December from 28.2% in November. US existing home sales data due later today, is expected to show another decline as the restrictive rate environment continues to weigh on home buyers' appetite, if the data confirms another drop, this would mark the eleventh consecutive decline in home sales stateside . Ahead of next week’s blackout period for Fed officials, the Fed’s Harker and Waller are both on deck today, Harker has recently suggested he would be more inclined to back a 25bps rate move at the next meeting, markets will look for additional colour on his views today.Markets-wise, investors are nursing losses heading into the weekend, US markets have been on the back foot with the benchmark SP500 testing pivotal support at the 3900 level, however, European markets are clinging to modest gains at the open of trade. Commodities remain front and centre with WTICrude reclining the $80 handle to trade back above $81 per barrel, Gold also regained its shine, as  the yellow metal remained supported above 1900  bulls keep their sights on a test 1950, the Dollar continues to rotate around the 102 mark, as the Euro continues to cling to 1.08  buoyed by Lagarde’s hawkish rhetoric.Overnight News of NoteUS Stock Futures Tick Up After Dow Goes Negative For The YearAsian Stocks Edge Up, Dollar Sags As Markets Mulls Fed RisksOil Heads For Second Weekly Rise As China Outlook BrightensGold Set For Fifth Straight Weekly Rise On Fed Slowdown BetsTop Fed Officials Make Case For High Rates To Cool InflationPoll: Fed To Deliver Two 25Bp Hikes, Followed By Long PauseFed To Face Tough Choice Longer Debt Ceiling Impasse StaysUS Firms Renew Pleas For Biden To End Trump’s China TariffsChina Keeps Benchmark Lending Rates Steady In Fifth MonthChina Inject Record Amount Of Cash This Week Pre-HolidaysJapan Inflation Hits 4% As BoJ Pivot Speculation SmoulderingEU Consider More Russia Sanctions Despite Difficult DebatesUK Chancellor Hunt Warns Not To Expect Tax Cuts In BudgetUK GfK Consumer Confidence Fall Back To Near 50-Year LowCrypto Lender Genesis Files For Bankruptcy As Crisis SpreadsNetflix Co-Founder Steps Down As CEO But Adds Subscribers(Sourced from Bloomberg, Reuters and other reliable financial news outlets)Options Expiration For the New York Cut 10am EST(BOLD expiries with  a value of a Billion+more magnetic if price is within the daily trading range)EURUSD 1.0650 1.0800 1.1000GBPUSD 1.20AUDUSD 0.6900Technical & Trade ViewsSP500 Bias: Bullish Above Bearish Below 3869 Primary support is 3869Primary objective is 4055Below 3840 opens 380020 Day VWAP bullish, 5 Day VWAP bearishEURUSD Bias: Bullish Above Bearish below 1.0735Primary support  is 1.0735Primary objective is 1.09Below 1.0730 opens 1.061020 Day VWAP bullish, 5 Day VWAP bearishGBPUSD Bias: Bullish Above Bearish below 1.2250Primary support  is 1.2250Primary objective 1.2460Below 1.2240  opens 1.218520 Day VWAP bullish, 5 Day VWAP bullishUSDJPY Bias: Bullish above Bearish Below 132.30Primary resistance is 132.30Primary objective is 125.00Above 133.00 opens 135.0020 Day VWAP bearish, 5 Day VWAP bearishAUDUSD Bias: Bullish Above Bearish below .6950Primary resistance is .6950Primary objective is .6790Above .7025 opens .711020 Day VWAP bullish, 5 Day VWAP bearishBTCUSD Bias: Bullish Above Bearish below 20000Primary support 20000Primary objective is 22000Below 19600 opens 1900020 Day VWAP bullish, 5 Day VWAP bearish

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-january-20-2023"
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Market Spotlight: BTC Rally Stalls Amidst Further Bankruptcy News in the Sector

Genesis Files for BankruptcyThe crypto world has been hit by further bad news this week as crypto-lender Genesis Global Capital files for bankruptcy. The lender, owned by Digital Currency Group, reportedly froze customer accounts in mid-November on the back of FTX Capital collapsing in a bid to prevent a mass-withdrawal. The collapse of FTX fuelled a wave of concern that similar companies might go under.Legal DisputeIn the bankruptcy claim filed with the Southern District of New York, Genesis reported that it had assets between $1 billion and $10 billion with more than 100,000 creditors. The news comes while Genesis is already engaged in a legal wrangle with Gemini Trust Co. The group, owned by the Winklevoss twins, had been jointly engaged on a crypto project called Earn, with Genesis. Gemini claims Genesis owes around $900 billion to around 340,000 investors. Both groups were recently charged by the SEC with illegally selling securities through the Earn program.BTC Recovering in 2023Crypto sentiment has been improving recently with BTC up almost 50% from last year’s lows. However, the rally has stalled for now amidst the broader downturn in risk appetite we’ve seen on the back of dismal US retail sales for December. Looking ahead, BTC should continue to gain if fresh USD weakness materialises, perhaps in response to a smaller hike at the February FOMC.Technical ViewsBTCThe rally in BTC has seen the market breaking above the bearish trend line and above several key resistance levels. For now, the rally has stalled though price remains atop the 20575 level. While price holds above here, the focus is on a continued push higher with 22600 the next upside level to note, ahead of the bigger target at 24930.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-btc-rally-stalls-amidst-further-bankruptcy-news-in-the-sector"
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FOMO Friday: DAX On The Rocks

Dax Turns Down Following Recent GainsLooking across markets, aside from the volatility we had around the BOJ meeting, it’s been a much quieter week. The calm before the storm perhaps, as we approach the upcoming February FOMC meeting. However, there have still been some noteworthy moves and chatting with traders ahead of the weekend, it seems the move capturing the most attention is the more than 2% reversal in the DAX which, prior to falling in the back half of this week, had been on a solid rally across early 2023, rallying almost 10%. So, let’s take a look at what caused the move and, as ever, if you caught it? Well done! If you missed it? There’s always next week.What Caused the Move?Global Recession FearsWe saw some initial weakness on Wednesday as asset markets reacted to news of much-weaker-than forecast US data for December (retail sales & PPI). The data put recession fears back into focus, sending stock prices falling across the board. While losses were more limited in Europe than in the US, the deeper fall was to come on Thursday.Hawkish ECB CommentsECB’s Lagarde upset the apple cart on Thursday as she warned that inflation remains ‘way too high’. Lagarde advised that the ECB would ‘stay the course’ on rates and keep going until CPI was comfortably back in the bank’s 2% target zone. With energy prices tanking over recent months and better data out of the eurozone recently, traders were beginning to mull the idea of a slower pace of tightening, in line with what we’ve seen from the Fed. However, Lagarde’s comments were seen effectively pouring cold water on this notion, sending the DAX heavily lower yesterday.Upside RisksLooking ahead, the outlook for the DAX remains broadly favourable. On the back of the strong gains we’ve seen only the past two weeks, the current pull-back should prove to be a correction. While Lagarde’s comments provide headwinds for now, the idea of a pivot is likely to gain in traction if we see inflation beginning to cool faster-than-expected in coming months. Additionally, as the economic picture in the eurozone improves, this too should continue to support stock sentiment.Technical ViewsDAXThe rally in the DAX saw the index trading up to a test of the 15163.41 level. Price has stalled there for now. However, the key area to note is the 14703.98 area, where we also have the rising trend line off last year’s lows. While this level holds the focus is on a further push higher an dan eventual breakout to 15642.76.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/fomo-friday-dax-on-the-rocks"
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Signs of a Risk-Off in Risk Asset Markets Curb Optimism in EURUSD

The minutes of the December policy meeting of the ECB released today reinforced the hawkish policy stance that the ECB tried to communicate during and after the meeting: the Bank is far from completing the tightening cycle and more rate hikes are necessary.The key takeaways of the December minutes were that “the direction of monetary policy must be resolutely tightened and that the current configuration of interest rates and expectations incorporated in asset prices has not been sufficiently restrictive to bring inflation back to the target level in a timely manner.” Several ECB members have called for a 75bp rate hike (instead of the agreed 50 bp), and also opted for a fast pace of reinvestment of matured bonds under the APP.Ahead of the forthcoming ECB meetings, it is becoming clear that the central bank intends to deliver more rate hikes. Basically, the message creates a benign environment for more Euro gains against its peers, including USD.It should be understood though that the softer inflation that we’ve seen recently in the euro area has little to do with the removal of the ECB stimulus. The spike in inflation was mainly the aftermath of higher energy prices, and the recent drop correlates with lower energy prices, especially gas prices:Therefore, when predicting what the ECB will do next, it makes sense to analyze not what the ECB should do, but what the bank says it will do. Hawkishness is no longer a characteristic of just a few members of the ECB. It has become mainstream.Another 50bp rate hike at the February meeting two weeks later is apparently priced in, and another 50 bp rate hike at the March meeting even looks very likely. As long as core inflation remains consistently high and core inflation forecasts remain above 2%, the ECB will continue to raise rates. To some extent, we are seeing a mirror image of the ECB to 2019. At the time, the Bank was clearly easing and pursuing disinflation by all means possible, even though the root causes of disinflation lay outside the ECB's purview. Now the ECB has a clear desire to tighten and is chasing inflation, which may also have its root cause in something the ECB can't handle. However, it looks like the current generation of ECB policymakers will only let them go when they are fully convinced that inflation is no longer a problem. As a result, a modest improvement in growth prospects in the euro area, as well as the abundant fiscal stimulus, gave the Bank even more reason to continue its hawkish mission. With all this in mind, the ECB is unlikely to cut interest rates again. Current market expectations for ECB rate cuts in 2024 are premature. If anything, these expectations, reflected in the cut in long-term interest rates, are an additional argument for the ECB to remain hawkish. The ECB's aggressiveness in December was also the result of the central bank’s view that market pricing lagged the pace of actual policy tightening. Today's comments by Christine Lagarde and Klaas Noth once again illustrate the ECB's determination to go all the way.EURUSD continues to consolidate near 1.08 with no obvious attempts to test the levels below. Market participants are trying to assess the risk of a slowdown in the Fed's tightening to 25 bp February, as well as softening the rhetoric regarding inflation. US stocks fell, reacting to the slew of weak eco updates on the US economy. The weakness of the dollar now depends on two factors: the market's assessment that weakening activity in the US will infect other economies (which will increase demand for the dollar as a defensive asset) and the Fed's reaction to a series of soft data for December. If the Fed begins to worry about a recession and changes the policy vector to a dovish one, we can expect a rebound in risk asset markets and a continuation of the EURUSD rally. Moderately hawkish comments may allow the dollar to bounce and cause a correction in EURUSD to 1.07 - 1.0650:

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Best debit and credit cards to use while travelling

If you’re going on holiday or travel regularly, it’s worth knowing what the best possible card is to avoid hefty fees while abroad

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Council tax increases 2023 – how much more will you pay?

Your council tax bill will go up in April - we reveal the councils taht have confirmed what this year’s increase will be

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