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Archives by Year:
USD/CAD Daily Analysis – Wednesday, Jan. 17
USD/CAD is in consolidation of the downtrend from 1.2920. Range trading between 1.2355 and 1.2590 would likely be seen over the next several days. As long as 1.2590 resistance holds, the downtrend could be expected to resume and a breakdown below 1.2355 support could trigger further downside movement towards 1.2200. Only a breakout of 1.2590 […]
Junk Bonds – Is Negative Divergence Going To Matter Again?
Stock bulls historically like to see Junk Bonds moving higher and get concerned when they are weak. Some view Junk bonds as a leading indicator to where stocks are headed. Some get concerned for stocks when junk bonds reflect a negative divergence to stocks and get aggressive in stocks when a bullish divergence in junk […]
With Fewer Likely Buyers Seen, Morgan Stanley Cuts Dish To Equal Weight
As previously reported, Morgan Stanley analyst Benjamin Swinburne downgraded Dish Network (DISH) to Equal Weight from Overweight as he now sees fewer likely buyers of its assets than hoped. T-Mobile (TMUS) has acquired significant additional spectrum, reducing the potential for a Dish partnership, tax reform will help Verizon (VZ) as it moves further towards small […]
USD/CHF: Backs Off Lower Prices On Correction
USD/CHF: The pair halted its broader weakness on Wednesday leaving risk of more correction on the cards. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. On the upside, resistance resides at the 0.9700 level […]
Pound Higher On Brexit Hopes
Currently, the Pound is pulling away from its earlier slide versus the US Dollar, largely attributed as a result of investor profit taking. Analysts say that some FX traders appear to have decided to sit on the sidelines as they watch the most recent developments in the ongoing Brexit saga. In recent days, thanks to […]
Not All It’s Fracked Up To Be
The Energy Information Administration(EIA) releases another EIA Drilling Activity report that raises its estimates for shale oil production without considering the realities on the ground. According to the report, EIA says that U.S. shale oil production will increase by 111,000 barrels a day to 6.55 million barrels a day in February next month and that production […]
December 2017 Consumer Expectations Decreased For Income And Spending Growth
from the New York Fed The New York Fed’s Center for Microeconomic Data released the December 2017 Survey of Consumer Expectations, which shows an increase in short- and medium-term inflation expectations. Expectations about income and spending growth decreased, but expectations about household financial situations and credit availability improved. Labor market expectations continued to improve, with expectations […]
What Sell-Off: US Futures Rebound Sharply, Dow 26,000 Back On Deck
While global shares pulled back in early trading from record highs on Wednesday, U.S. equity index futures are staging another comeback and point to a higher open on Wednesday following a volatile day of trading Tuesday which saw the S&P 500 have its worst reversal in two years. Whether yesterday sharp drop in the S&P […]
EC U.S. Treasuries: Starting Off On The Wrong Foot
There is no doubt 2018 has gotten off to a far different start for the U.S. Treasury (UST) market as compared to the last few years. Indeed, from 2014 through 2017, the UST 10-Year note rallied in the first month or so in each year, but thus far in 2018, just the opposite has occurred. Remember, what happens in […]
USD/JPY Reaches -61.8% Fib Target And Reverses At 110
USD/JPY 4 hour The USD/JPY has reached the main -61.8% Fibonacci target and the round level of 110. Price bounced at that support and seems to be breaking through the resistance trend line (red). 1 hour The USD/JPY made one more lower low within the downtrend but now has made a bullish break above resistance […]
