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Damned Data – Full Week Preview

Damned Data – Full Week Preview

The overarching narrative for this week shouldn’t be materially different from last week – people will be concerned about the same things, namely the looming debt ceiling debate, the odds of a government shutdown which ebb and flow with whatever shows up on Trump’s Twitter feed, and the fallout from North Korea’s latest ballistic missile […]
Aligned Expectations For The S&P 500 In Week 4 Of August 2017

Aligned Expectations For The S&P 500 In Week 4 Of August 2017

The fourth week of August provided an almost textbook example of how stock prices behave when investor expectations are closely aligned with the signals being sent by the economy’s major players. Specifically, we’re referring to what appears to be a very strong focus by investors on the distant future quarter of 2018-Q2 in setting the […]
Above The 40 – No Follow-Through For The S&P 500’s Reflex Bounce

Above The 40 – No Follow-Through For The S&P 500’s Reflex Bounce

AT40 = 38.6% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 48.0% of stocks are trading above their respective 200DMAsVIX = 11.3Short-term Trading Call: neutral Commentary The S&P 500 (SPY) is suddenly struggling at its 50-day moving average (DMA). The big reflex bounce from Tuesday, August 22nd has yet to receive confirmation. On Friday, the index […]
FX Week Ahead: US GDP And Payrolls, Eurozone Inflation

FX Week Ahead: US GDP And Payrolls, Eurozone Inflation

  The slow pace of the markets is likely to come to an end as traders prepare for a busy September. The week ahead will start off on a somewhat slow note but picks up the pace by mid-week. Economic data includes key market moving events such as the US GDP numbers and the flash […]
Sensex Opens Firm; Infosys Climbs After Nilekani’s Return To Infosys

Sensex Opens Firm; Infosys Climbs After Nilekani’s Return To Infosys

Majority of Asian stock indices are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.77%, while the Hang Seng is up 0.55%. The Nikkei 225 is trading down by 0.11%. US stocks closed mostly higher Friday on new hopes for reform, with the Dow Jones industrial average notching its first weekly gain […]
Hurricane Harvey Wreaks Havoc On Texan Oil Refineries

Hurricane Harvey Wreaks Havoc On Texan Oil Refineries

Hurricane Harvey has been battering the areas surrounding Houston and Galveston, Texas, all weekend, and civilians are not the only ones being hurt by the flooding. Several oil refineries have been forced to shut down as a result of the heavy rain, sending prices at American gas pumps higher. Royal Dutch Shell has shut down […]
Crude Oil Prices Shrug Off Hurricane Harvey, Gold May Rise

Crude Oil Prices Shrug Off Hurricane Harvey, Gold May Rise

Crude oil prices made little headway on Friday, with the WTI benchmark range-bound in familiar territory. US refinery closures courtesy of Hurricane Harvey drove gasoline upward but raw-material costs conspicuously didn’t budge. Monday’s underwhelming offering of scheduled event risk may leave markets rudderless until the API set of weekly inventory flow statistics comes out on the following day. Gold prices seesawed […]
Weekly Gold Forecast – Monday, August 28

Weekly Gold Forecast – Monday, August 28

Gold prices settled at $1291.46 an ounce on Friday, gaining 0.6% on the week, as a drop in the U.S. dollar index lent some support to the precious metal. The greenback has been weighed down by uninspiring U.S. economic data and concerns over Donald Trump’s ability to carry out his promised growth-friendly reforms as well […]
EUR/USD Bullish Break Above Triangle Pattern Challenges 1.20

EUR/USD Bullish Break Above Triangle Pattern Challenges 1.20

EUR/USD 4 hour The EUR/USD did break above the resistance trend line (dotted red) of the triangle chart pattern as expected. This breakout is a continuation of wave 5 (green) of wave 3 (blue). The first target is the round level of 1.20, which could cause a retracement. 1 hour The EUR/USD bullish breakout is […]
Here Is The Bottom Line For EUR/USD Post-Jackson Hole – Nordea

Here Is The Bottom Line For EUR/USD Post-Jackson Hole – Nordea

EUR/USD is trading higher following the speeches of Mario Draghi and Janet Yellen in Jackson Hole. What’s next? Here is the bottom line from Nordea: Here is their view, courtesy of eFXnews: Nordea FX Strategy Research notes that even with no news speeches from Fed Yellen and ECB Draghi at Jackson Hole, EUR/USD actually did care, with […]