Sefulla Emini

More than 200 demonstrations against the so-called coronavirus health pass have been scheduled for Saturday across France. In Paris alone thousands of people joined rallies against what they call a violation of people's rights.
Massive crowds flooded the streets of the French capital on Saturday. Several thousand demonstrators marched through the Boulevard Saint-Marcel in the southeastern part of the city toward the Place de la Bastille.

Thousands flood Paris streets (yet again) protesting against Covid-19 health passes across France -- Sott.net More than 200 demonstrations against the so-called coronavirus health pass have been scheduled for Saturday across France. In Paris alone thousands of people joined rallies against what they call a violation of people's rights. Massive crowds...

Gold Price Analysis: XAU/USD drops below $1,900, eyes rising trendline support

12 August 2020, 05:40

,Gold eyes five-month ascending trendline support at $1,860.
•The metal's RSI has already breached the rising trendline.

Gold is fast approaching support of the ascending trendline rising from March 20 and June 5 lows, having breached the psychological support of $1,900 a few minutes before press time.

The yellow metal is currently trading near $1,880 per ounce and the rising trendline support is located at $1,860.

The 14-day relative strength index has breached the trendline representing the bull run from lows near $1,450 seen in March. The indicator is now hovering in bearish territory below 50.

As such, the metal looks set to test the rising trendline support at $1,860 - more so, as the US yields are rising. The 10-year yield jumped over six basis points to 0.66% on Tuesday - the highest level since July 13.

Acceptance below the rising trendline would imply an end of the five-month-long price rally. A strong bounce from the ascending support may cause more buyers to join the market, leading to a re-test of $2,050.

Daily chart

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GOLD - XAUUSD

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Gold and Oil: Be Aware of the “Spike” “Hope and fear look different on a chart”

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tumbled as production cuts failed to counter the pandemic-induced demand crisis. As oil prices crashed, Brent Crude appeared a bit more resilient to which fell below $15.

Coming Up....

At 01:30 GMT, the Reserve Bank of Australia (RBA) will release a minutes statement of the latest monetary policy meeting held during early-April.

Australia's first big corporate casualty of the coronavirus pandemic. Virgin Australia has gone into voluntary administration!

Australia's first big corporate casualty of the coronavirus pandemic. Virgin Australia has gone into voluntary administration!

"China analysts haven't cut earnings estimates as agressively as its peers."

"China analysts haven't cut earnings estimates as agressively as its peers."

The coronavirus crisis has hit the world economy “much harder and much faster than anything before”, and will have a deeper impact than the 2008 financial crash, former International Monetary Fund (IMF) chief Ajai Chopra has warned.

“The combination of public health and economic crisis makes this radically different from the crises we’ve faced in the past,” he told a web seminar event hosted by the Dublin-based Institute for International and European Affairs .

“This time it really is different. By that I mean this is not a crisis that is caused by financial folly.”

Mr Chopra, who was the IMF’s head of mission during Ireland’s 2010 troika bailout, said economies were facing a sudden stop in activity from measures to contain the virus, combined with a trade shock from falling commodity prices.

He said there may need to be a “standstill on private debt repayments” until the true scale of the problem and likely fallout could be assessed, as well as some sort of debt relief for emerging market countries.

Mr Chopra noted that foreign investors had withdrawn around €90 billion from emerging markets since January, four times the outflow seen in the same period after the start of the 2008 crisis.

“There is a strong risk of disorderly defaults in emerging markets, and international co-operation is paramount.”

However, the international response so far had been weak, “with rich countries becoming more inward looking as they fight the pandemic themselves” .

In particular Mr Chopra singled out the lack of leadership from the US, and what he described as unhelpful comments from US leaders, who have labelled the disease “the Wuhan virus”.

He said the demand for IMF financing had skyrocketed since the crisis, with 85 countries applying for emergency assistance.

The IMF estimates the financing needs of developing countries will be in the region of $2.5 trillion. Mr Chopra said IMF’s lending capacity was $800 billion.

Support measures
Speaking at the same event, former Central Bank of Ireland governor Patrick Honohan warned that like the 2008 crash there was a danger that the “scope and scale” of the current crisis may be underestimated and that support measures maybe “unambitious”.

He noted there was a “vagueness about the endgame”, and how the State was going to exit the lockdown and restart the economy.

Mr Honohan said the “big trade-off” in this crisis has been between public health and economic shutdown.“It’s quite clear that the choice to shut down is a correct choice on any kind of cost-benefit calculation.”

However, he said the reopening of the economy – whether it will be done in phases and which categories of workers will go back first – had not been adequately addressed.

John Moran, former secretary general at the Department of Finance, said this time around the government would be able to borrow to cushion the blow to the economy. Yet the money would not be free, and therefore should not be thrown around “indiscriminately” .

https://www.irishtimes.com/business/economy/chopra-warns-coronavirus-will-have-deeper-impact-than-financial-crisis-1.4222223?mode=amp&fbclid=IwAR34yLzqBq6WWceZ99PgzPC0u4UPHOQTXJloi3pmiNhZqDV-FDZpWigSipI

Chopra warns coronavirus will have ‘deeper’ impact than financial crisis Former IMF official says there may need to be ‘standstill on private debt repayments’

First Quarter: Crisis, Volatility, and Opportunities The first quarter was filled with bad news and investors are bracing for another brutal quarter. COVID-19 is heavily impacting the way the world operates and is creating an environment of extreme volatility. Volatility can also mean opportunities but caution needs to prevail!

A snapshot of where the $2 Trillion Will Go!

Source: Bloomberg

Weekly Summary: A Domino Effect It was another week of extreme volatility in the financial markets, with gold on the rise again, oil's push for stablity, stock market rebounds and an under pressure dollar.

The Perfect Storm Brewing in the Oil Market The oil and gas industry was already poised to face significant challenges in the next decade due to the structural shift within the industry. A pandemic-induced economic downturn and an oil price war have added another layer of uncertainty to the oil markets.

Economic Calendar: ow.ly/33cK50wEaNJ

: Senate passes $2 trillion stimulus package.The Bill heads to the House!

⚙️💡Technical Insight
Corcept Therapeutics Inc (CORT:NASDAQ)
Classic Patterns: Continuation Wedge
After a temporary interruption, the prior uptrend is set to continue.

⚙️💡Technical Insight
Corcept Therapeutics Inc (CORT:NASDAQ)
Classic Patterns: Continuation Wedge
After a temporary interruption, the prior uptrend is set to continue.

Does not surprise me.

Four senators sold stocks shortly after a January briefing in the Senate on the novel coronavirus outbreak, unloading shares that plummeted in value a month later as the stock market crashed in the face of a global pandemic.

According to financial disclosure forms, Sens. Kelly Loeffler (R-Ga.), James Inhofe (R-Okla.), Dianne Feinstein (D-Calif.) and Richard Burr (R-N.C.) each sold hundreds of thousands of dollars in stocks within days of the Senate holding a classified briefing on Jan. 24 with Trump administration officials on the threat of the coronavirus outbreak.

The sales raise questions about whether the senators violated the STOCK Act, a law that bans members of Congress from making financial trades based on nonpublic information.

Loeffler and her husband, who is the chairman of the New York Stock Exchange, sold at least $355,000 in stocks from Jan. 24-31, according to Senate records, after the coronavirus briefing hosted by the Senate Health and Foreign Relations committees.

The senator and her husband also sold $890,000 in stocks from Feb. 5-14, just days after the first confirmed coronavirus cases emerged in the U.S. but nearly two weeks before community spread of the disease was confirmed within the country.

The sales, worth at least $1.2 million together, saved Loeffler and her husband from steep losses they would have incurred after the stock market’s crash began Feb. 24.

Loeffler said in a pair tweets Friday that she doesn’t control her and her husband’s financial assets and was informed of the sales on Feb. 16.

“This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband's knowledge or involvement,” Loeffler tweeted.

Loeffler was among several Republican senators who tamped down concerns about the administration’s response to the coronavirus outbreak while selling stocks that soon plunged within weeks of the disease spreading within the U.S. Loeffler is facing a tough election race this year, which includes a challenge from Rep. Doug Collins (R-Ga.).

Inhofe sold at least $180,000 in stocks on Jan. 27, days after the Senate’s coronavirus briefing, according to Senate records. Inhofe also sold at least $50,000 in stock in an asset management company on Feb. 20, four days before the stock market crashed.

Inhofe said in a statement Friday that he did not attend the Senate coronavirus briefing on Jan. 24, and instead met with children from Oklahoma who were in Washington, D.C., for the annual March for Life and with the nominee to be U.S. ambassador to Tanzania.

Inhofe added that he does not "have any involvement in my investment decisions" and instructed his financial adviser in December 2018 to begin selling all of his stock holdings two months after he was elected chairman of the Senate Armed Services Committee.

"I instructed my financial advisor to move me out of all stocks and into mutual funds to avoid any appearance of controversy. My advisor has been doing so faithfully since that time and I am not aware of or consulted about any transactions," Inhofe said.

Inhofe's financial disclosures show a steady stream of stock sales throughout 2019 and into early 2020. The senator also said he asked his financial adviser in December 2018 to reverse a purchase of stock in Raytheon, a U.S. defense contractor, that would have raised questions about conflicts of interest.

Inhofe wrote in a letter to the Senate Ethics Committee that his adviser made stock purchases "without my consultation or awareness."

Inhofe’s sale came roughly a week after Burr on Feb. 13 sold between $628,000 and $1.72 million in stock while receiving classified briefings on coronavirus as chairman of the Senate Intelligence Committee.

“Senator Burr filed a financial disclosure form for personal transactions made several weeks before the U.S. and financial markets showed signs of volatility due to the growing coronavirus outbreak,” a spokesperson for Burr told ProPublica regarding the stock sales.

“As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy.”

Selling stocks before markets show signs of falling typically save an investor from financial losses.

On Friday, Burr asked the Senate Ethics Committee to investigate his stock sales, which he said were based on CNBC coverage of the coronavirus in Asia in mid-February.

Burr has come under further scrutiny after NPR reported this week that the senator compared the coronavirus outbreak to the 1918 influenza pandemic during a private Feb. 27 luncheon in Washington, D.C. Burr is scheduled to retire in early 2023 after his term ends, though he is under increasing pressure to resign now.

Trump and some Republicans lawmakers have faced intense criticism for playing down the threat of the novel coronavirus, which has infected more than 14,000 Americans and claimed at least 205 lives as of Friday morning, according to data compiled by Johns Hopkins University.

At least one Democratic senator also unloaded stock before the scale of the crisis became clear to the general public.

Feinstein, one the longest-tenured Senate Democrats, sold at least $500,000 in shares of Allogene Therapeutics, a California biotechnology company, on Jan. 31 and at least $1 million in Allogene stock on Feb. 18, according to Senate records.

A spokesman for Feinstein told The New York Times that she had nothing to do with the decisions to sell her stocks.

“All of Senator Feinstein’s assets are in a blind trust,” Tom Mentzer said in a statement. “She has no involvement in her husband’s financial decisions.”

Updated at 11:11 a.m.

Four senators sold stocks before coronavirus threat crashed market Four senators sold stocks shortly after a January briefing in the Senate on the novel coronavirus outbreak, unloading shares that plummeted in value a month later as the stock market crashed in the face of a global pandemic.

Heading 3 WP GoToWebinar h3 » strongBy Deepta Bolaky @DeeptaGOMarkets Week Ahead More Easing and Virus Intervention Measures! More easing policies hit the markets as the global pandemic create havoc in the financial markets. In a coordinated... Investors are pricing-in a global recession which means that the focus will primarily remain on the massive stimulus packages being enacted by governments and central bankers.

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is currently down by 411 points or 8.5% at 4,407.50!

-19

Senate Democrats Block Phase 3 Emergency Stimulus Package!

Senate Democrats Block Phase 3 Emergency Stimulus Package!

-19

Mapping the Intervention! More than 30 central banks cut interest rates this week!

Weekly Summary: The World and Its Various Forms of Lockdown It was an unusual busy week where investors were struggling to keep up with various forms of lockdown around the world. The pause in global activity is reviving recession fears which are prompting market participants to closely monitor whether the intervention measures of governments and central ban...

Sefulla Emini

Gold Price Analysis: Drops back below $1,500, focus on key Fibonacci levels

17 March 2020, 06:26

•Gold prices fail to hold onto the early-day recovery gains, slips beneath 200-day SMA.
•A confluence of 100-day SMA, 38.2% Fibonacci retracement limit near-term upside.
•November 2019 low, 61.8% Fibonacci retracement on the bears’ radars.

Following the latest pullback from $1,520, Gold prices decline to $1,493, down 1.27%, as the global markets await European traders on Tuesday.

With that, the bullion slips back below 200-day SMA while inching closer to 50% Fibonacci retracement of its run-up from May 2019 to March 2020, at $1,483.

During the quote’s further downside below 50% Fibonacci retracement, November 2019 low surrounding $1,445 and 61.8% of Fibonacci retracement near $1,432 can please the bears.

On the flip side, a confluence of 100-day SMA and 38.2% Fibonacci retracement restricts the yellow metal’s short-term recovery moves near $1,535/36.

Beyond that, lows marked during late-January 2020, also during the February month, around $1,545/46, could question the bulls.

Gold daily chart

Chart XAUUSD, D1, 2020.03.17 05:06 UTC, Go Markets Pty Ltd, MetaTrader 4, Real Symbol: XAUUSD. Periodicity: D1. Broker: Go Markets Pty Ltd. Trading Platform: MetaTrader 4. Trading Mode: Real. Date: 2020.03.17 05:06 UTC.

Gold Price Analysis: Drops back below $1,500, focus on key Fibonacci levels

17 March 2020, 06:26

•Gold prices fail to hold onto the early-day recovery gains, slips beneath 200-day SMA.
•A confluence of 100-day SMA, 38.2% Fibonacci retracement limit near-term upside.
•November 2019 low, 61.8% Fibonacci retracement on the bears’ radars.

Following the latest pullback from $1,520, Gold prices decline to $1,493, down 1.27%, as the global markets await European traders on Tuesday.

With that, the bullion slips back below 200-day SMA while inching closer to 50% Fibonacci retracement of its run-up from May 2019 to March 2020, at $1,483.

During the quote’s further downside below 50% Fibonacci retracement, November 2019 low surrounding $1,445 and 61.8% of Fibonacci retracement near $1,432 can please the bears.

On the flip side, a confluence of 100-day SMA and 38.2% Fibonacci retracement restricts the yellow metal’s short-term recovery moves near $1,535/36.

Beyond that, lows marked during late-January 2020, also during the February month, around $1,545/46, could question the bulls.

Gold Price Analysis: Drops back below $1,500, focus on key Fibonacci levels

17 March 2020, 06:26

•Gold prices fail to hold onto the early-day recovery gains, slips beneath 200-day SMA.
•A confluence of 100-day SMA, 38.2% Fibonacci retracement limit near-term upside.
•November 2019 low, 61.8% Fibonacci retracement on the bears’ radars.

Following the latest pullback from $1,520, Gold prices decline to $1,493, down 1.27%, as the global markets await European traders on Tuesday.

With that, the bullion slips back below 200-day SMA while inching closer to 50% Fibonacci retracement of its run-up from May 2019 to March 2020, at $1,483.

During the quote’s further downside below 50% Fibonacci retracement, November 2019 low surrounding $1,445 and 61.8% of Fibonacci retracement near $1,432 can please the bears.

On the flip side, a confluence of 100-day SMA and 38.2% Fibonacci retracement restricts the yellow metal’s short-term recovery moves near $1,535/36.

Beyond that, lows marked during late-January 2020, also during the February month, around $1,545/46, could question the bulls.

Gold daily chart

How are you making yourself better today than you were yesterday? 👇✨Changing your results is an inside job.

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The Law of Giving and Receiving, is based on the fact that everything in the universe operates through dynamic exchange. Every relationship is one of give and take, because giving and receiving are different aspects of the flow of energy in the universe.

So if you want love, learn to give love, if you want attention and appreciation, learn to give attention and appreciation, if you want material affluence, help others to become materially affluent. The more you give, the more you will receive.

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You must plan today what you are going to do tomorrow.

Try these simple and effective tips to boost your confidence today!

Confidence is the first requirement of any undertaking, and when you believe in your capabilities and put in the work, you can do more than you‘be ever imagined.

Tell yourself “I AM CONFIDENT”.

We become what we think and what we think we manifest into reality through the might of thoughts.

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Develop a clear image of what you really want and get emotionally involved with that image. THEN you can use your will power and persistence to put your thoughts into action to get the results you truly desire.

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