By IFCMarkets

US stocks record run continued on Monday supported by news China will cut import duties on more than 859 products starting January 1. The S&P 500 advanced 0.1% to third consecutive record close at 3224.01. Dow Jones industrial added 0.3% to 28551.53 boosted from 3% jump in Boeing shares on news CEO Muilenburg has resigned amid controversy surrounding its 737 Max jet. The Nasdaq edged up 0.2% to fresh record 8945.65. The dollar strengthening continued despite report orders for durable goods fell 2% in November. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.01% to 97.67 and is higher currently. Wall Street will trade a shortened half-day Christmas Eve session today. Futures on US stock indices point to higher openings today.

European stock markets performed mixed on Monday ahead of Christmas holidays. The EUR/USD reversed its decline yesterday while GBP/USD continued its slide with dynamics reversed currently. The Stoxx Europe 600 index slipped 0.01%. The DAX 30 slid 0.1% to 13300.98. France’s CAC 40 added 0.1% while UK’s FTSE 100 rose 0.5% to 7623.39.

Asian stock indices are mostly higher today. Nikkei rose 0.04% to 23830.58 as yen slowed its climb against the dollar. Markets in China are mixed: the Shanghai Composite Index is up 0.7% while Hong Kong’s Hang Seng Index is 0.2% loer. Australia’s All Ordinaries Index recovered 0.1% despite continued Australian dollar climb against the greenback.

Brent futures prices are edging higher today. Prices gained yesterday despite Russian Energy Minister’s comment OPEC+ may consider easing the output restrictions at a coming meeting in March: February Brent crude closed 0.4% higher at $66.39 a barrel on Monday. Saudi Aramco ‘s shares continue trading on the country’s Tadawul exchange. Shares declined 0.6% on Sunday, fourth decline in a row. Yesterday the Tadawul exchange data indicated foreign investors outside the Gulf countries were net buyers of about $950 million (about 3.56 billion riyals) worth of Saudi Aramco shares for the week ended December 19. Passive funds bought Aramco shares to comply with the index changes after the index compiler MSCI Inc. added Aramco to its emerging market index last Wednesday. However Aramco fell 3.5% last week.

Gold prices are extending gains today with February gold rising 0.5% Monday to a more than six-week high of $1,482.50.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

By The Life Science Report

Source: Streetwise Reports   12/20/2019

Shares of NewLink Genetics got a boost today after the firm reported that the FDA approved its ERVEBO V920 vaccine used in the treatment of Zaire Ebola virus. The company’s shares set a new 52-week high price in mid-morning trading.

This morning after the U.S. markets opened for trading, clinical-stage immuno-oncology company NewLink Genetics Corp. (NLNK:NASDAQ.GM), announced that, “after priority review, the U.S. Food and Drug Administration(FDA) has granted approval of ERVEBO®, or Zaire Ebola virus vaccine V920, (rVSV∆G-ZEBOV-GP), as confirmed by our partner, Merck & Co Inc. (MRK:NYSE).” NewLink indicated that this represents the first vaccine approved by the FDA for the Ebola virus. The company stated that last month the European Commission also granted marketing authorization for ERVEBO across 31 European countries.

NewLink advised that “yesterday’s approval comes almost three months prior to the Prescription Drug User Fee Act (PDUFA), or target FDA action date, originally set for March 14, 2020, and that as previously stated by the company, the FDA’s approval of this Ebola vaccine will trigger the issuance of a priority review voucher (PRV) owned by Merck and in which NewLink Genetics has a substantial economic interest.” The firm noted that after the PRV has been issued it will have the right to monetize its share of interest in the voucher.

Eugene Kennedy, MD, chief medical officer and member of NewLink Genetics’ Office of the CEO, commented, “We are delighted by the FDA’s decision to approve this Ebola vaccine and by the agency’s recognition of the potential this vaccine may offer to protect individuals who may be exposed to Ebola from contracting this deadly disease…We are grateful to our partner Merck, and to the regulatory bodies involved, for their dedication to advancing solutions to combat this deadly illness.”

NewLink Genetics is a clinical-stage biopharmaceutical company based in Ames, Iowa. Historically, the firm has focused its efforts on developing novel immunotherapeutic products for treatment of cancer patients. In mid-2020, NewLink is scheduled to merge with private clinical-stage biopharmaceutical company Lumos Pharma, which targets rare and neglected diseases. Upon the close of the proposed merger, the combined company will operate as Lumos Pharma and will focus on Lumos’s sole product candidate, LUM-201 (ibutamoren), an oral growth hormone (GH) secretagogue targeting pediatric growth hormone deficiency (PGHD) and other rare endocrine disorders. The company stated, “if approved, LUM-201 has the potential to represent the first orally administered growth hormone stimulating therapy for a subset of PGHD patients.”

NewLink Genetics began the day with a market capitalization of about $60.1 million with around 37.31 million shares outstanding and a short interest of approximately 4.40%. NLNK shares opened higher today at $1.69 (+$0.08, +4.97%) over yesterday’s $1.61 closing price. The stock has traded today between $1.60 and $2.37 per share and is presently trading at $1.94 (+$0.33, +20.50%).

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( Companies Mentioned: NLNK:NASDAQ.GM,
)

By Orbex

Trade of the week

EURUSD Struggles to Push Higher

A relatively calm week ahead data-wise as traders leave for a well-deserved Christmas on Wednesday. We would expect the euro to pull back for lack of a significant catalyst. Some medium-impact data like US new home sales and initial jobless claims could stir up intraday volatility.

A technical retracement from the high of 1.1170 is likely to continue after the long spike failed to close above the October highs. 1.1050 will be a major support level to watch.

GBPUSD at 30-Day MA

Prime Minister Boris Johnson received the green light for his Brexit deal from a Tory-controlled parliament on Friday. However, the pound sterling gave up its election gains as the UK will now face the reality of negotiating a trade deal with the European bloc. Enthusiasm has turned into a new phase of concerns and we would expect the pound to be on a corrective course.

The price has reached the psychological level of 1.3000 on the 30-day moving average, and a rebound at that level could lift the pound towards 1.3200.

AUDJPY Tests July’s High

The Aussie has recouped losses from last summer thanks to improved economic prospects. Solid job data have eased fears of deeper rate cuts by the RBA. In the meantime, progress in the US-China trade talks may offer relief to the Australian export industries. As markets turned risk-on, the Australian dollar is likely to outperform the safe-haven Japanese yen for weeks to come. The pair is about to challenge the July high of 76.00, a break above could trigger an extended rally. On the downside, 74.00 is a key support to monitor.

WTI Meets Strong Resistance

The OPEC+ members’ output reduction policy has sustained the latest rally. Combined with the prospect of a de-escalation in the trade disputes which would boost demand, market sentiment has turned upbeat and could provide further support to the rally. Crude price is about to test the psychological level of 62 from last September. In case of a pullback towards the moving averages, 58 will be an important level to keep the optimism intact.

By Orbex

By Money Metals News Service

Zero Interest Rate Policy (ZIRP) was considered “extraordinary” when central bankers rolled that out roughly ten years ago. At that time, people would still have laughed at the idea of negative interest rates. Lenders didn’t pay borrowers and nobody paid their bank to hold their deposits.

So much has changed in the past 10 years. Now negative interest rate policies (NIRP) look set to go viral.

German banks will soon start toeing the European Central Bank line and pass negative rates on to depositors there. Germans who endured zero interest rates and somehow still want a savings account will now have to pay for the “privilege.”

The idea is preposterous, and it is perverse.

People build wealth and hold on to their liberty when there are incentives to save and invest. In just 10 short years, central bankers put an end to those incentives and implemented rewards for consumption, borrowing and spending instead.

Formerly responsible nations, including Germany and the U.S., are accelerating down the road to ruin with debt exploding at all levels. Banking, finance, and government represent an ever-larger share of the economy. And record numbers of people depend on public assistance.

Of course, negative interest rates are but one example of the “contributions” bankers have made to society in recent years.

Measured in terms of societal and economic transformation, Wall Street appears to have “won” the last decade. All their investment in political campaigns and relationship building with DC regulators really paid off.

Guilty parties avoided prison for pervasive mortgage and derivatives fraud and even got politicians to socialize the losses via bailouts. More recently they have been amassing extraordinary private gains via high frequency trading, rampant market rigging, and access to unlimited Fed cash.

But the largest achievement has to be getting carte blanche to centrally plan the world’s largest economies.

The world can ill-afford to let these people “win” another decade.

There are at least some signs that people are getting fed up. The recent election in the UK put Brexit back on track. The German people have been voting more for change. Perhaps they will tell bankers where they can stick negative interest rates.

Americans who are paying attention are alarmed by the Fed’s repo market bailouts and “not QE” stimulus program. When the next bubble pops, it will be hard for politicians and Wall Street to sell “print money and hand it to the bankers” as the solution once again.

The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.

By Orbex

Break-even, or sometimes just breakeven, is actually an important concept within Forex.

It’s important for trading in any security, and for the same reasons. In fact, there is an entire trading strategy that works around it.

Going by the definition, it might seem like a simple idea, but there is an important implication for forex trading that comes from this concept.

Break-even comes from the Break-Even Point (BEP).

What’s that? Well, in terms of price action, it refers to the point where gains equal losses. Simple, right?

Hold on a Second

In Forex, there’s more to gains and losses than meets the eye. We have to take into account risk, because accounting for risk is part of the losses side of this equation that many people forget. How does that work?

So, first, you’ll probably have noticed there are two prices on your trading platform: the sell and buy price. When you enter the market, you get a difference from the price action which is the spread.

A Sample Trade

Let’s say you buy one lot of EURUSD, and your broker has a 2 pip spread.]

If the market is at 1.1120, and you buy, you’ll notice that you are $2 in the red. This is because now that you’ve bought, you now have to sell in order to close the trade. And the sell price is two pips lower, to account for the spread.

When the market goes up two pips, you’ll find your trade returns to 0.

With traditional bookkeeping, you might consider that as the break-even point, because if you close the trade, you’ll neither make nor lose money. Except that in order to open that trade, you had to take a risk, because if the trade didn’t go up again, it could have gone the other direction until it hit your stop loss.

So Where is the Break-Even Point?

There isn’t a universal number; it depends on your forex trading strategy and risk profile. But, a rule of thumb is to calculate how likely you were to lose on that trade.

For example, let’s say you set your stop loss at 100 pips, and your strategy has a 70% win-loss ratio.

That means there was a 30% chance that when you took that trade, you would lose 100 pips. In other words, if you iterate your trades over a long enough period, you will lose 30 pips on average per trade, while gaining an average of 70 pips per trade.

Those 30 pips are your cost of risk.

So, in order to find your “real” break-even, you have to consider your cost of the spread (2 pips), plus your cost of risk (30 pips), which would put your BEP on this example trade at 1.1152.

Considering this concept, it’s easier to factor in your profitability ratio over time and help keep your strategy producing a more consistent profit.

By Orbex

By IFCMarkets

US dollar bullish bets declined to $18.18 billion from $19.84 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to December 17 and released on Friday December 20. The ICE US dollar index declined after the Federal Reserve left interest rates unchanged while New York Federal Reserve said next day it would increase the amount of funds it would inject into the multi-trillion dollar repo market.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

By Orbex

Equity markets regained the bullish momentum as news came in that the United States and China were going to sign the phase one deal. Both parties were positive on the developments. Although the deal is still the first step, investors believe that this will open the way for further talks. Markets have been jittery since the start of the year with both parties flip-flopping on trade talks.

Euro Slips as US Data Marginally Better

The euro currency posted losses on Friday. The declines came on the back of USD strength. Economic data on the day saw US personal income rising 0.5% on the month. This beat estimates of a 0.3% rise and up from a revised 0.1% previously. Data from the Eurozone was sparse with only the consumer confidence data which did not impact the flow much.

Will EURUSD Rebound from Support?

The common currency’s declines have pushed the euro down to 1.1072 level of support. From here on, we expect to see a rebound. This also coincides with the Stochastics oscillator settling near the oversold level. Therefore, there is a chance of a move to the upside. But the resistance levels at 1.1100 and 1.1131 will likely cap the gains.

Sterling Cautious as UK MP’s Pass 2^nd Brexit Reading

The pound sterling was trading cautiously on Friday. UK MPs passed the second hearing of PM Johnson’s Brexit bill. The bill outlines no possibility for an extension. This means that the UK will leave the EU by the end of 2020, irrespective of a deal. Further in the UK, Andrew Bailey was formally selected as the next Governor of the Bank of England.

GBPUSD Could Drop to Lower Support

The cable is likely to extend declines down to the lower support level at 1.2960. If this support holds, then the currency pair might remain range-bound. A break below 1.2960 will, however, extend the declines further down. But we expect to see price action trading flat in the coming sessions.

Gold Prices Trade Mixed into the Year-End

The precious metal continues its flat price action into the year-end. The positive news on the trade deal has dampened demand for the precious metal. However, we could expect to see some erratic moves in the coming sessions. Most of the markets are closed for the good part next week.

XAUUSD Could Breakout to the Upside

The bias remains to the upside for the moment with the price level of 1480 turning out to be critical. If there is a breakout above this resistance level, then we anticipate further gains. This will put the upside bias towards the 1500 level where price action could be tested. Alternately, XAUUSD will remain range-bound within the current levels.

By Orbex

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After reaching the key correctional target at 1.1066, EURUSD is forming a new ascending wave towards 1.1099. After that, the instrument may resume falling to reach 1.1083 and then start another growth with the target at 1.1132.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached another downside target at 1.2980; right now, it is moving upwards to reach 1.3028. Later, the market may form a new descending structure with the target at 1.2920.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending impulse at 0.9832, USDCHF is correcting towards 0.9802. After that, the instrument may start a new growth with the target at 0.9836.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 109.42; right now, it is forming Triangle pattern with the target at 109.14. Later, the market may form one more ascending structure towards 109.84.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing towards 0.6945. After that, the market may start a new correction to reach 0.6899 and then resume moving upwards with the target at 0.6959.

USDRUB, “US Dollar vs Russian Ruble”

After reaching 62.02, USDRUB is growing to reach 62.42. Possibly, the pair may test this from below and rebound from it. Later, the market may resume trading inside the downtrend with the target at 61.88.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has finished the ascending impulse towards 1.3171; right now, it is correcting to reach 1.3134. Possibly, the pair may reach this level and then form one more ascending structure towards 1.3157, thus forming a new consolidation range. If later, the price breaks this range to the upside, the market may start another growth with the target at 1.3200; if to the downside – resume falling to reach 1.3111.

XAUUSD, “Gold vs US Dollar”

Gold is moving upwards. Possibly, the pair may expand the range up to 1484.33 and then form a new descending structure with the target at 1477.33.

BRENT

Brent is correcting towards 65.44. Today, the pair may reach it and then form one more ascending structure to break 66.60. After that, the instrument may continue the uptrend with the target at 67.75.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is moving upwards; it has formed an upside continuation pattern at 7355.00. Possibly, today the pair may test this level from above and then resume growing with the short-term target at 7688.00. Later, the market may start a new correction to return to 7355.00 and then resume the uptrend with the key target is at 8280.00.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD continues the correctional uptrend towards 38.2% fibo at 1488.16. After breaking this level, the pair may continue growing to reach 50.0% and 61.8% fibo at 1501.30 and 1514.30 respectively. After completing the correction, the instrument may break the local low at 1445.60 and continue falling towards its mid-term target, which is 50.0% fibo at 1413.85.

In the H1 chart, after falling towards 61.8% fibo at 1461.34, the pair is forming a pullback towards the local high at 1486.69. If the instrument fails to break the high, the next descending wave will be heading towards 76.0% fibo at 1455.50.

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, the convergence made the pair complete the descending correctional wave at 61.8% fibo. To confirm a new rising impulse, USDCHF must break the resistance at 50.0% fibo (0.9844). After breaking this level and fixing above it, the price may grow towards the high at 1.0028. However, if the pair choose to continue falling towards 76.0% at 0.9748, it may reach the low at 0.9660 very quickly.

As we can see in the H1 chart, the convergence made USDCHF start a new growth, which has already reached 23.6% fibo. The next upside targets are 38.2 and 50.0% % fibo at 0.9867 and 0.9897 respectively. The support is the low at 0.9770.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

Last week, the greenback strengthened against a basket of major currencies. The dollar index (#DX) closed on Friday in the green zone (+0.33%). The United States published rather optimistic statistics and pointed to the steady growth of the country’s economy. Thus, in the third quarter, the GDP indicator (q/q) grew by 2.1%, which met experts’ expectations. On Saturday, US President D. Trump said that Washington and Beijing would soon sign the phase one trade agreement.

The Australian and New Zealand dollars rose after it became known that China would cut import duties on goods from January 1, 2020. The plan, approved by the Chinese government, provides for a reduction in duties of more than 800 types of goods imported by China from various countries. The plan also provides for an additional reduction from the beginning of next year of import duties on more than 8,000 goods from 23 countries that have a free trade agreement with China, including Australia, South Korea, Iceland, New Zealand and Pakistan.

The “black gold” prices are declining after a continuous rally. At the moment, futures for the WTI crude oil are testing the $60.35 mark per barrel.

Market Indicators

On Friday, there was a variety of trends in the US stock market: #SPY (-0.05%), #DIA (+0.00%), #QQQ (+0.40%).

The 10-year US government bonds yield has been declining. At the moment, the indicator is at the level of 1.90-1.91%.

• – Durable goods orders at 15:30 (GMT+2:00);
• – Statistics on GDP in Canada at 15:30 (GMT+2:00);
• – New home sales in the US at 17:00 (GMT+2:00).

by JustForex