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Markets Looking For A New Focus
The US dollar is consolidating after retreating since reversing lower following the US jobs data at the end of last week. While the greenback has largely been confined to yesterday’s ranges against the major currencies, the euro has made a marginal new high, briefly trading through the $1.1830 area noted yesterday. Spanish assets are rallying following […]
Relief Rally For The Euro
The recovery and move higher for the euro is being driven by one sentiment. Relief. Relief that for the time being, the Catalan situation has been pushed to the back burner, and whilst this may be true in the short term, longer term the situation in Spain remains a thorny issue and one which has […]
EUR/USD Continues Drifting Higher Spain’s Response Is Awaited
Catalonia’s President Carles Puigdemont said that the region earned the right to independence but suspended the decision in order to open the door for a dialog. The speech left many people confused. Is it a climb-down? Will Spain accept a dialog? It seems that at least for now, tensions are lower. EUR/USD reacted positively and continues […]
Is The Market A Hot Air Balloon?
The U.S. market made new highs yesterday (in the DJIA). Certainly, the market makers are fueling the balloon with fire. My radar screen looks as colorful as these balloons. Stocks such as JetBlue (JBLU) roared into an unconfirmed Recovery Phase. Other stocks such as TripAdvisor (TRIP) and Pandora (P), fell hard. The Modern Family all […]
U.S. Crude Oil Exports To The World And China
In December 2015, the U.S. Congress voted to lift its four decade-long ban on the export of crude oil from the United States to other nations. In the following chart, you can see how monthly exports of crude oil have changed since that arbitrary restriction on trade was lifted, where we’ve focused on both the U.S.’ total exports of […]
Tightening Oil Market Sends Prices Higher
Oil prices were higher on Wednesday, extending Tuesday’s 2 percent gains on expectations that markets are finally tightening after struggling with oversupply for the past few years. Data expected out later on Wednesday and on Thursday is expected to support the upwards price direction at least for the short-term, though analysts still question whether this […]
Global Markets Turn Cautious, IPO News & Cues To Watch Out For Today
Yesterday, Tuesday, Indian share markets finished in the green, continuing a positive streak. The BSE Sensex closed higher by 78 points to end at 31,924 while the broader NSE Nifty ended the day higher by 28 points to close above at 10,017. Among BSE sectoral indices, power stocks rose the most by 0.9%, followed by infrastructure stocks 0.8%. Lupin and Power Grid Corp were among the top […]
A Decline In Small Business Optimism
Yesterday, the NFIB reported the September Small Business Optimism Index results and they showed the Index fell 2.3 points to 103, which was below the lowest consensus forecast. In spite of the decline, the index remains at a high level as can be seen in the below chart. A larger percentage of the index components declined in […]
What Can We Expect From The Fed Minutes?
The Federal Reserve releases the minutes from its September meeting today, Wednesday. In September’s meeting, the Fed insisted that another rate hike is coming in December and provided support to the dollar. Here are two opinions: Here is their view, courtesy of eFXnews: USD: 2 Key Things To Expect From The FOMC Minutes On Wed – SEB […]
USD/JPY Stair-Stepping Down Support
USD/CHF Daily Chart Technical Outlook: USDJPY turned from median-line resistance last week after failing to punch through basic trendline resistance extending off the yearly high. The focus is on near-term confluence support at 111.86/99– a region defined by the 23.6% retracement and the 200-day moving average. A break below this threshold (favored) targets more significant support at 111.10 where the 38.2% […]
