Masseria Pistola: rustic charm in Puglia

The newly renovated farmhouse in southern Italy offers a stylish and tranquil stay

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Is it time to give up on buy-to-let?

Buy-to-let investors are fleeing the market as higher mortgage costs eat into rental income.

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Daily Market Outlook, February 17, 2023

Daily Market Outlook, February 17, 2023Fed Hawks Weigh On Risk Appetite As Investor Risk Sentiment SoursAsian equities declined as US producer price inflation and hawkish Fed rhetoric weighed on investor appetite into the weekend. Treasury yields ascended with the 10yr yield approaching 4% as markets reprice US  rate expectations towards three further 25bps increases by the summer and for rates to remain higher for longer. Goldman Sachs has raised its US rate view, the firm now looks for three further 25bps hikes from the FOMC in March, May and June, lifting its view of the terminal rate to 5.25-5.50%; the firm raised its forecasts in light of stronger growth and firmer inflation metrics. In the Eurozone ECB’s Schnabel added to the hawkish tone from global central bankers as she deemed monetary policy transmission in Europe may require more aggressive ECB policy. The data docket for the European session is scant, Statetside the only print of note is import price inflation, investor attention will shift to Fed’s Barkin set to make remarks regarding the US labour market and Fed Governor Bowman is also scheduled to speak. FX Options Expiration New York CutEURUSD 1.08(455m)USDJPY 134.40(395m)GBPUSD 1.2415(403m)AUDUSD .6740(365m)Overnight News of NoteDollar Rises To 6-Week Peak As Strong US Retail Sales Bolster Higher-Rates ScenarioFed’s Mester Says She Saw ‘Compelling’ Case For Half-Point Rate HikeFed's Bullard Backs More Interest Rate IncreasesECB's Lane Says Tightening Effect Still In PipelineEU Commission Scratches Russia Nuclear Sanctions PlansUK PM Sunak Due In Northern Ireland As Protocol Deal ImminentDow Falls More Than 250 Points After Another Hot Inflation ReportGoldman Sachs Steps Back From Bidding For New Credit Card ProgramsBank Of America Plans Job Cuts In Its Investment BankTesla Recalls 362,758 Vehicles; Full Self-Driving Beta Software May Cause Crashes(Sourced from Bloomberg, Reuters and other reliable financial news outlets)Technical & Trade ViewsSP500 Bias: Intraday Bullish Above Bearish Below 4177Primary support is 4005Primary objective is 4384Below 4000 opens 396520 Day VWAP bullish, 5 Day VWAP bullishEURUSD Bias: Intraday Bullish Above Bearish below 1.0710Primary resistance is 1.0950Primary objective is 1.0620Above 1.0820 opens 1.0920 Day VWAP bearish, 5 Day VWAP bearishGBPUSD Bias: Intraday Bullish Above Bearish below 1.20Primary resistance  is 1.2265Primary objective 1.1840Above 1.2265 opens 1.233720 Day VWAP bearish, 5 Day VWAP bearishUSDJPY Bias: Intraday Bullish above Bearish Below 134Primary support  is 131Primary objective is 134.70Below 130.80 opens 130.1120 Day VWAP bullish, 5 Day VWAP bullishAUDUSD Bias: Intraday Bullish Above Bearish below .7050Primary resistance is .7050Primary objective is .6750Above .7150 opens .725020 Day VWAP bearish, 5 DayVWAP bearishBTCUSD Intraday Bias: Bullish Above Bearish below 25000 - 25000 Target Hit, New Pattern Primary support 23500Primary objective is 26700Below 20300 opens 1950020 Day VWAP bullish, 5 Day VWAP bullish

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-february-17-2023
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AUDUSD Potential for Bearish Drop to intermediate support

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleAUDUSD, H4 | Potential for Bearish Drop to intermediate support TypeBearish DropPreference:We are seeing the price is being above the Ichimoku cloud, Looking for a pullback sell entry at 0.6893 where the 50% Fibonacci line is, and take profit at 0.67395 where the 78.6% Fibonacci line is.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audusd-potential-for-bearish-drop-to-intermediate-supportwas
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GBPUSD Potential to retest on the overlap support

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleGBPUSD, H4 | Potential retest on the overlap support TypeBullish Rise Preference:Looking at the H4 chart, my overall bias for GBPUSD is bullish. Looking for a buy entry at 1.19189 where the overlap support and 78.6% Fibonacci line is. Take profit will be at 1.20752, where the recent swing high is.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpusd-potential-to-retest-on-the-overlap-support
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USDCAD Potential for Bullish Rise to 61.8% Fibonacci line

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleUSDCAD, H4 | Potential for Bullish Rise to 61.8% Fibonacci line TypeBullish Rise Preference:Looking at the H4 chart, my overall bias for AUDUSD is bullish as the current price is above the Ichimoku Cloud, Looking or a pullback sell entry at 1.35066 where the 38.2% Fibonacci line is, We are looking to take profit at 1.35327 where the 61.8% Fibonacci line is.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-potential-for-bullish-rise-to-61-8-fibonacci-line
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Where RIT Capital Partners went wrong

Weak returns and rising private-equity exposure mean the wide discount to NAV for RIT Capital Partners is justified.

from Moneyweek RSS Feed https://moneyweek.com/investments/605638/rit-capital-partners
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The MoneyWeek portfolio of investment trusts – December 2022 update

A decade ago we set up the MoneyWeek portfolio of investment trusts.. It proved a success, says Merryn Somerset Webb.

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Bitcoin is done Correcting: What’s Next?

Bitcoin has completed its correction at the broken level of 21500 and crossed the level of 22500. The asset is likely to face resistance at the level of 25000 soon. So, let’s observe what will happen.Oil is approaching the supporting level of 21.00, which also marks a 50% correction from the latest ascending move. It is noteworthy that oil might pull back from this level soon.The currency pair EUR/USD has pulled from the local broken level of 1.0770 and underwent correction. The asset’s price is likely to drop to the level of 1.0350, gain the required support, and jump again.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/bitcoin-is-done-correcting-what-s-next
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AUDUSD Potential for Bullish Rise to recent swing high

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleAUDUSD, H4 | Potential reversal off a key overlap support TypeBullish ReversalPreference:We are seeing the price has tested and bounced back from the key support. Looking for a pullback buy entry at 0.68778 where below the 1st support level. We are looking for take profit at 0.70141.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audusd-potential-for-bullish-rise-to-recent-swing-high
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NZDUSD Potential for bearish drop to previous swing low

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleNZDUSD Potential for bearish drop to previous swing lowTypeBearish ReversalPreference:Looking at the H4 chart, my overall bias for NZDUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.Expecting price to drop from the pivot which is the overlap resistance level towards the support which is the previous swing low.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nzdusd-potential-for-bearish-drop-to-previous-swing-low
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USDJPY Potential for bullish rise towards previous swing high

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleUSDJPY Potential for bullish rise towards previous swing highTypeBullish BouncePreference:Looking at the H4 chart, my overall bias for USDJPY is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market.Looking for price to retest the pivot which is the overlap support, before heading towards the resistance which is the previous swing high.It's worthy to note that there is an intermediate resistance which is an overlap resistance level. Price might struggle to break through that area.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-potential-for-bullish-rise-towards-previous-swing-high
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6 funds to buy with the gold price near an all-time high

The gold price in sterling is trading near an all-time high. Rupert Hargreaves looks at six ways to invest in the yellow metal ahead of further gains.

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BOE in Focus As UK Inflation Falls Again

UK Inflation Falls AgainGood news today for UK consumers, and also the BOE, with the latest UK economic data reflecting a third consecutive monthly decline in consumer prices. Annualised inflation printed at 10.1% last month, down from the prior month’s 10.5% and now down a full 1% from the peak inflation reading of 11.1% seen in Q4 2022. Notably, the reading was also below market projections for a 10.3% reading.Data BreakdownLooking at the breakdown of the data, transport costs were the biggest driver of the decline at 3.1% from 6.5% prior while restaurants and hotels also marked a decline at 10.8% vs 11.3% prior. However, housing and utilities costs were seen creating upward pressure at 26.7% vs 26.6% prior as were health costs at 6.3% vs 5.1% prior. Alcohol and tobacco were also higher at 5.1% vs 3.7% prior.Core Inflation Falls AlsoA further encouraging sign was that core inflation, which strips out food and energy costs, was also seen falling. Annualise core inflation printed 5.8%, down from 6.3% prior, and below the 6.2% the market was looking for. While clearly still well above the BOE’s 2% target, inflation is now moving in the right direction at least and the big question on traders’ lips is: what does this mean for the BOE?At its last meeting, along with hiking rates to their highest level in 14 years, the BOE signalled that inflation had likely peaked in the UK. The BOE has been a reluctant tightener of monetary policy throughout this cycle (often accused of being slow and lacklustre) and so today’s data will no doubt bolster the view that the bank is getting closer to pausing rate hikes.Downside Risks into March BOEAhead of the data, the latest Reuters poll showed that the majority of forecasters were looking for the BOE to pivot down to a smaller .25% hike in March. In light of this data, there are now downside risks that the BOE pauses altogether. At the very least, if the BOE does hike again, that will likely mark the start of the pause date – which is what the market will be focused on anyway. With this in mind, there are downside risks for GBP into the meeting.Technical ViewsGBPUSDThe pair continues to hold within the triangle pattern which has framed the recent consolidation here.  With 1.2195 holding as resistance, the pair looks vulnerable to a drop lower, in line with weakening momentum studies. Should we see a break of the triangle lows, 1.1474 is the next support to note.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/boe-in-focus-as-uk-inflation-falls-again
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