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Say No To Currency Contagion
Once again the deteriorating relationship between the United States and Turkey is leading the news. The Lira is sliding again and it does seem to be bringing some of the other emerging market currencies with it. As we’ve been saying throughout the week, it’s very possible that the declines in the crypto market earlier this […]
Dollar Limps Into The Weekend
The US dollar is trading heavily against most of the world’s currencies today. The main exceptions come from the emerging markets where the Turkish lira, Russian ruble, and Mexican peso are the chief exceptions, and their losses are modest. This week’s dollar gains are being pared in largely corrective activity and amid a light news […]
E Why The Turkish Financial Crisis Matters To The Rest Of The World
To long-time observers, Turkey’s economic woes are so familiar and are almost a textbook case showing how a country can run into severe balance of payments difficulties in just a few years. The 1990s featured a similar crisis as various emerging markets had to turn to the international community (Thailand, 1998) or the United States […]
Gold Stabilizes, But Set For Sixth Weekly Drop
Gold prices edged up in early Asian trade on Friday after hitting a 19-month low in the previous session. The U.S. dollar moved away from 14-month highs on disappointing economic data. The Federal Reserve Bank of Philadelphia reported that the index measuring manufacturing activity in the region fell to 11.9 from 25.7 the prior month. […]
Will Erdogan Save Turkey And Help Gold?
Foreigners. They are always plotting. This time, they hit Turkey. And gold at the same time. Will Erdogan save the country and support the yellow metal? They May Have Their Dollars, but We Have Our People Following sharp losses last week, the Turkish lira plunged about 10% on Monday, as one can see in the […]
Venezuela’s Citgo Refineries At Risk Of Seizure
In 2007, following Venezuela’s expropriation of billions of dollars of assets from U.S. companies like ExxonMobil and ConocoPhillips, I suggested a potential remedy. Since Venezuela’s state-owned oil company, PDVSA (Petróleos de Venezuela, S.A.) owns the Citgo refineries in the U.S., the companies that had lost billions of dollars of assets should target these refineries for seizure as […]
Seagate Hard Drives Ace Fixed & Portable Use Tests
Today I’m reviewing a large-cap data storage firm by the name of Seagate Technology Plc. Its trading ticker symbol is STX. Seagate Technology PLC is a producer of hard disk drives (HDD) globally. It designs, develops, and manufactures a broad range of hard drives used in desktop PC, notebook PC, game consoles, digital video recorders, […]
USDCAD Daily Analysis – Friday, August 17
USDCAD stays above a rising trend line on the 4-hour chart and remains in the uptrend from 1.2961. Further rise could be expected and next target would be at 1.3250 area. Key support is at 1.3050, only a breakdown below this level could signal completion of the uptrend.
E Litecoin Remains Bearish
Litecoin fell to a new low which now fits into a nice five wave decline down from 90 area, so we see market completing an extended wave three. Therefore, a reversal is expected to unfold in three legs, ideally headed higher into wave four towards 60.00 area where new resistance may send price back to […]
Sensex Extends Gains; Vedanta & Yes Bank Lead The Rally
Stock markets in India are trading higher taking cues from their Asian peers, which rebounded today following a strong lead in Wall Street. The gains came after a Thursday rebound in US markets, with a string of positive news ranging from strong corporate earnings to reports of a revival in US-China trade talks all boosting investor sentiment. […]
