Zak Mir, technical analyst for ShareProphets.com, opened the Finance Show on Tip TV alongside Bill Hubard, chief economist for Bullion Capital, to discuss the next 24 hours and its effect on the Fed rate hike situation, as well as a look at a few single stocks including: African Potash, AMUR minerals and UK Oil and Gas.
Fed situation to be decided by events within the next 24 hours
Hubard outlined how the ECB meeting today and the non-farm payroll numbers being released tomorrow will play a significant part in confirming whether September is the most likely timing for an interest rate rise. He identified the continual period of strong US data, which has seen Fed fund futures move up to 40% for action on the 17th of September 2015. Hubard continued and noted that emerging market central banks simply told the Fed to hurry up when concerning the hike after the central bank meeting last weekend. He added how the Fed raised interest rates 17 consecutive times between 2003 and 2006, but concluded that this won’t happen.
On a similar note, Mir commented that Friday’s close tomorrow will result in the world having a better understanding of all global markets.
Single Stocks: African Potash and AMUR minerals up while UK Oil and Gas hitting resistance
Mir highlighted that whilst we remain above 2p, African Potash stocks are in a rising channel, and although 4p looks rich, the stock will certainly see some upside.
In terms of AMUR minerals, Mir noted how the 200 day moving average is providing support, and how we have moved up to 17p in the past few days. He added that clearing the 50 day moving average could see a rise to up to 25p.
To finish the segment, Mir outlined the 50 day moving average for UK Oil and Gas was acting as resistance, but if that was cleared he believes we could see 2.5p.
We are not authorised by the Financial Conduct Authority of England and Wales. The information and/or data on this website is provided by us and any data providers which may be used by us for your general information and use only and is not intended for trading purposes or to address your particular financial or other requirements. In particular, the information and/or data on the website:
(1) does not constitute any form of advice (financial, investment, tax, medical, legal, spread -betting or otherwise); and (2) does not constitute any inducement, invitation or recommendation relating to any of the products listed or referred to; and (3) is not intended to be relied upon by you in making (or refraining to make) any specific investment, placing any bet or making any other decision; and (4) has not been issued or approved by Tip TV for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended from time to time).
Opinions expressed by speakers in the videos, writers of the blogs are only opinions and not expert advice. These opinions do not necessarily agree with those held by Tip TV, its directors, agents or employees who disclaim any intent to make betting, securities or securities markets recommendations. The value of investments and the income derived from them may fall as well as rise. APPROPRIATE EXPERT INDEPENDENT ADVICE SHOULD BE OBTAINED BEFORE MAKING ANY INVESTMENT, PLACING ANY BET OR MAKING ANY OTHER DECISIONS.
Recommended Content
Editors’ Picks
AUD/USD gains momentum above 0.6500 ahead of Australian Retail Sales data
AUD/USD trades in positive territory for six consecutive days around 0.6535 during the early Asian session on Monday. The upward momentum of the pair is bolstered by the hawkish stance from the Reserve Bank of Australia after the recent release of Consumer Price Index inflation data last week.
EUR/USD: Federal Reserve and Nonfarm Payrolls spell action this week
The EUR/USD pair temporarily reconquered the 1.0700 threshold last week, settling at around that round level. The US Dollar lost its appeal following discouraging United States macroeconomic data indicating tepid growth and persistent inflationary pressures.
Gold: Strength of $2,300 support is an encouraging sign for bulls
Gold price started last week under heavy bearish pressure and registered its largest one-day loss of the year on Monday. The pair managed to stage a rebound in the second half of the week but closed in negative territory.
Ethereum fees drops to lowest level since October, ETH sustains above $3,200
Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.