Dubai: Equity traders went in a risk-off mode on Thursday on expectations of two rate hikes by the US Federal Reserve amid fears of a slowdown in global growth, dashing any possibility of a year-end rally
The trend may indicate more gains to come and a potential year-end rally
. The last time the technical gauge pointed to potential buy signals, the token rose for about a month.
However, history has also shown that the selling pressure tends to dissipate as the year progresses, setting up for a strong year-end rally
with gains into the following year.
BITCOIN went into freefall yesterday, its price collapsing from the dizzying heights of nearly $20,000 earlier this week to around $12,000 as steam appeared to be running out of its year-end rally
The peso's year-end rally
is set to wane as remittance flows start tapering, said Irene Cheung, a currency strategist at Australia & New Zealand Banking Group Ltd.
So far, the change promised by Donald Trump sparked the strongest year-end rally
in years, contrary to what polls led many to believe was likely.
This development can be explained by the strong year-end rally
in the preceding quarter, renewed negative exchange rate effects, and a slackening of business in the Asia/Pacific region.
! Tokyo, Rabi'I 5, 1435, Jan 6, 2014, SPA -- Japan's benchmark Nikkei 225 Stock Average fell 2.3 per cent Monday on the first trading day of 2014 as investors sold stocks to lock in quick profits after a year-end rally
, according to dpa.
said Wednesday its group net profit in the April to December period rose 33.9 percent from a year before to 550.41 billion yen, backed by a year-end rally
in Tokyo stocks that boosted the value of its asset holdings.
Securequity sales trader Jawaid Afsar said he was considering buying mining stocks and felt the FTSE 100 would have a traditional year-end rally
with fund managers allocating more money to equities as they close their books for 2012.
Secondary market trading has picked up and a roller coaster year for the regional bourses closed with Qatar ultimately posting a small 1.1 percent gain and Saudi Arabia's Tadawul nearly breaking even after a year-end rally
. At the other extreme, the Bahrain bourse shed over 20 percent and Dubai, Kuwait, and Oman more than 15 percent.
A year-end rally
in Dubai-related bonds sends a positive signal for 2012, suggesting more investors are becoming convinced the emirate can arrange smooth refinancings for state-owned firms next year.