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Archives by Year:
USD/CAD Daily Analysis – Friday, March 2
USD/CAD’s upside movement extended to as high as 1.2895, facing the previous high resistance at 1.2920 (Dec 19, 2017 high). As long as the price is above the bullish trend line on the 4-hour chart, the upside movement could be expected to continue and a breakout of 1.2920 resistance could take price to 1.3100 area. […]
Yen Surges On BOJ Stimulus Exit
The Governor of the Bank of Japan Haruhiko Kuroda said on Friday that the apex bank will start looking into balance sheet normalization in 2019. Making it the first time the bank will be specific on normalization policy. The yen gained across the board following the comments, gaining 0.53 percent against the U.S dollar to […]
Housing Market Review (February, 2018) – Stalled And Toppy
The last Housing Market Review covered data reported in January 2018 for December 2017. At the time, I described the ominous breakdown of the iShares U.S. Home Construction ETF (ITB), but I was not yet ready to connect the dots on the bearish implications. I am now. ITB has continued its breakdown by first severely underperforming the […]
Demand For The US Dollar Weakened After Donald Trump’s Statements
Yesterday, the US dollar kept support after the speech of the Fed`s chairman, Jerome Powell. The official reported on the improvement of the US economy, which increased the likelihood of a further increase in the Fed’s interest rate this year. However, the US currency was under pressure after the US President Donald Trump stated that […]
Triple Tantrum: Stocks Sink, GOP & EU Outrage On Trump’s Steel Tariffs
Trump announced sweeping new tariffs on steel and aluminum. The stock market threw a tantrum and so did GOP leaders. Feature images is of a steel mill in Germany from the New York Times article Trump Plans Tariffs on Steel and Aluminum and Markets Slump. The NY Times commented “At a White House meeting on Thursday, President […]
Stocks To Trade: SFLY, X, HD
Friday’s stock picks Take a look at three trading ideas to prep you for the next trading session. Long Shutterfly (SFLY) Long US Steel Group (X) Short Home Depot (HD)
Dollar Struggles For Traction After Trump Remarks
The US Dollar came under some sell pressure after the US President announced his decision to implement tariffs on specific imports, namely steel, and aluminum. That news resulted in the reverse of momentum for the greenback which would otherwise have been headed for a recovery. Donald Trump said that the imposition of the tariff was […]
Still None, And Even More Reasons To Expect None
The parallels between the last few years and those at the end of the 1990’s are striking. There was a few years ago the monetary intrusion of the “rising dollar” which at its worst seriously depressed the global economy. Oil prices crashed, as did several key currencies, and deflationary pressures that often accompany a significant […]
CAD/JPY Elliott Wave Analysis: Correction Expected Before Lower Again
Short-Term CAD/JPY Elliott Wave view suggests that the decline from 1/5/2018 high (91.58) is unfolding as an impulse Elliott Wave Structure where Minor wave 1 ended at 87.785, Minor wave 2 ended at 89.439, Minor wave 3 ended at 84.468, and Minor wave 4 ended at 85.24. Minor wave 5 remains in progress as an impulse Elliott […]
US Debt Becoming A Problem For The Dollar
Some analysts speculated if the Fed would try to keep rates low to support the government’s spending binge. However, instead of worrying about the debt, the $400 billion spending plan and the tax cuts are being used as an excuse to raise interest rates and let the government bonds on the Fed’s balance sheet expire. […]
