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FX Week Ahead: Central Bank Meetings
The markets head into a busy week that sees some of the major central bank monetary policy meetings lined up. This week, the RBA, the Bank of Japan, the ECB and the BoC will be holding their monetary policy meetings. Despite the line up of the central bank meetings, no major changes are expected from either […]
Ripple: XRP/USD Creates A Bullish Engulfing, Breaks Above $1.00
After weeks of consolidation, Ripple’s XRP made a massive comeback on Sunday with a 12.15% gain, finally breaking above the $1.00 barrier. Here’s an overview of the popular blockchain and its token. XRP/USD Ends Consolidation After reaching the all-time high price of $3.35 beginning of January, XRP/USD dropped back to the 76% Fibonacci retracement level […]
AUDUSD Daily Analysis – Monday, March 5
AUDUSD remains in the downtrend from 0.7988, the bounce from 0.7712 is likely consolidation for the downtrend. Near-term resistance is at the bearish trend line on the 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 0.7600 area. On the upside, […]
Goldman Admits ‘Global Economic Momentum’ At Lowest In 2 Years
Seven of the ten underlying components of the Goldman Sachs’ Global Leading Indicator (GLI) weakened in February slightly to 3.46% in February, down from our January estimate of 3.56%. GLI momentum (MoM growth) decreased to 0.234% from 0.249% last month, the lowest level for GLI momentum since March 2016. The Global Leading Indicator (GLI) is a Goldman Sachs […]
Sentiment Snapshot: Turning Tides
So far, the recovery from the February correction is proving *not* to be a “v-shaped recovery”, and rather seems to be in a process of undertaking a classic “double-dip recovery”. Headline risk has certainly been a driver, and at this point noise, sentiment, and signals are more intertwined than ever. So it’s time to take a snapshot […]
Gold Prices Find Fresh Support As Trade War Fears Grip Markets
Gold price found interim support and are attempting an offensive having touched a two-month low last week. The drop was set off by hawkish comments from Fed Chair Jerome Powell that tarnished the appeal of anti-fiat and non-interest-bearing assets. The move turned as US President Donald Trump unexpectedly hiked tariffs on steel and aluminum, shocking markets. Crude oil prices fell in […]
March 2018 Stock Considerations
A few days into the month of March it is time, once again, to outline my potential stock picks for the month. After many, many months of a market that was on a never ending melt up run, we have been suddenly reacquainted with the notion of volatility. By any measure, the stock market has […]
S&P 500 And Nasdaq 100 Forecast – Monday, March 5
S&P 500 The S&P 500 has initially fallen during the day on Friday, reaching down towards the 2650 level before bouncing. By the end of the day, we ended up forming a nice-looking hammer, and that is of course a good sign that we are going to continue to find buyers in this market. If […]
EUR/USD Awaits Bearish Pullback And Bullish Bounce At 1.2250
EUR/USD 4 hour The EUR/USD bullish breakout above resistance (orange/red) could restart the old uptrend whereas a bearish break below support makes a wave 4 (pink) less likely and a downtrend more probable. 1 hour The EUR/USD seems to have completed 5 bullish waves (blue) which could be a wave 1 (purple). The alternative is […]
Soup And Steel Tariffs
U.S. Commerce Secretary Wilber Ross appeared on CNBC on Friday, 2 March 2018 to defend President Trump’s proposed 24% tariff on steel and 10% tariff on aluminum coming into the United States from foreign sources, during which he held up a can of Campbell’s Condensed Chicken Noodle Soup to claim the that tariffs would have […]
