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Archives by Year:
E The Velocity Of Money Has Been Declining In The U.S., But Don’t Worry About It
“Basically, the decline in the velocity of money is due to math rather than economic dysfunction, and it’s not necessarily a signal of economic trouble.” (The Independent Market Observer, Feb 9, 2017) The velocity of money, which is the ratio of GDP to the stock of money, is often regarded as an important indicator of […]
USDCHF: Backs Off Higher Prices, Weakens
USDCHF pair backed off higher prices on Thursday leaving risk to the downside. On the downside, support lies at the 0.9800 level. A turn below here will open the door for more weakness towards the 0.9750 level and then the 0.9700 level. On the upside, resistance resides at the 0.9850 level where a break will […]
Weekend Reading: Keeping You Awake At Night
In her last testimony before Congress as head of the Federal Reserve, Janet Yellen made a curious statement: “I would simply say that I am very worried about the sustainability of the U.S. debt trajectory. Our current debt-to-GDP ratio of about 75 percent is not frightening but it’s also not low. It’s the type of thing that […]
Dollar Consolidates Weekly Gain, While Equities Ease To Start New Month
The release of the manufacturing PMIs confirms that the synchronized global expansion remains intact. The focus today is on three unresolved political challenges: US tax reform, the UK-Irish border and the talks that may produce another grand coalition in Germany. The US dollar is mixed, with the dollar-bloc currencies and Scandis pushing higher. The euro and yen […]
Global Stocks, US Futures Slide As Tax Bill Chaos Erupts In The Senate
Markets were thrown for a loop in the past 24 hours, with the Dow first soaring nearly 400 points on Thursday on expectations that tax reform was a done deal, when drama emerged just after the close when the Senate tax bill came this close to falling apart when the proposed “Trigger” was ruled as […]
Major Asset Classes; Performance Review For November 2017
US stocks resumed the lead in November as the top performer for the major asset classes. The Russell 3000 Index gained 3.0% last month, the strongest advance since February and the 13th consecutive month of positive total returns for the benchmark. Most asset classes posted gains in November, with only a handful of exceptions. The […]
USD/JPY Bullish Consolidation At 38.2 Fib
The USD/JPY made a diving board pattern straight from 111.70 zone and it is consolidating now at 38.2 of the previous swing low. The price is supported by 38.2, D L3, W H4 and double bottom within 112.30-40 zone. This accounts for the POC zone. If the price bounces from the zone, targets could be […]
Myths About Tax Cuts And Truth About Growth
An economist’s perspective on the flawed logic behind the proposed 2017 tax bill, and what policy makers could do to encourage U.S. economic growth. It started as a tax cut. Now it could change American life. No responsible fiscal conservative could support a plan that will add to debt in order to help corporations buy back […]
Sensex, Nifty Trade Marginally Lower; Biocon Rises 2%
Indian share markets continue to trade just below the dotted line amid weak global markets. Gains were largely seen in consumer durables stocks and FMCG stocks. Metal stocks and energy stocks witnessed majority of the selling pressure. The BSE Sensex is trading lower by 45 points and the NSE Nifty is trading lower by 18 points. Meanwhile, the BSE Mid Cap index is trading up by 0.3% & the BSE […]
EUR/USD And GBP/USD Forecast – Friday, Dec. 1
EUR/USD The EUR/USD pair initially fell during the trading session on Thursday but found enough buying pressure near the 1.18 level to turn around and rally. By doing so, looks likely that we are going to continue to go higher, perhaps reaching towards the 1.21 level over the longer term. Expect volatility though, as we […]
