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Archives by Year:
The Dollar Muscles Higher As Turkey Melts Down
The US dollar has surged. The main impetus comes from the dramatic slide in the Turkish lira. After moving above TRY5.0 yesterday, it reached TRY6.30 today before stabilizing a little below TRY6.0 as the European morning progressed. The trigger seemed to be the lack of credibility of the government’s response as investors await officials to elaborate […]
Houston, We Reached Target
One of the biggest stories since the last edition of the Market Overview, is inflation reaching the Fed’s 2-percent target. As we analyzed in the Gold News Monitor, The latest report on the Personal Income and Outlays revealed that the annual rate of the PCE Price Index rose 2.3 percent, while the core inflation hit 2 percent, the Fed’s […]
It Took Turkey To Send EUR/USD To New 2018 Lows
The EUR/USD is trading well below 1.1500, at the lowest levels in three months. The political crisis in Turkey weighs heavily on markets. The technical picture shows the pair is flirting with the oversold territory. The EUR/USD finally made a considerable move, and the direction is down. Turkey is the center of attention. The large economy that […]
Europe’s Thinnest Market In 18 Years Sends Ominous Signal
While US investors are fighting each other off to buy stocks (well FANG stocks), Chinese and European equity markets have suffered in recent months amid growth concerns and trade war fears. One might not know it looking at the Euro Stoxx 50 Volatility Index hovering just barely in the double digits… But, as Bloomberg’s Benjamin […]
Valero Refines And Markets Oil, Gas, & Ethanol
Today I’m reviewing a large-cap oil & gas refining & marketing firm by the name of Valero Energy Corporation. Its trading ticker symbol is VLO. Valero Energy Corp, as a petroleum refining and marketing company, produces conventional gasolines, distillates, jet fuel, asphalt, petrochemicals, lubricants, and other refined products as well as a spate of premium […]
Twitter Has More Downside Ahead
Even after a sickening 20% drop in Twitter stock on Friday ( July 27), TWTR still looks significantly overvalued particularly when you look at the causation for the drop and then compare TWTR to other social media plays that have higher growth rates, more products and diversification and therefore less risk. A sharp decline in user […]
USDCAD Daily Analysis – Friday, August 10
USDCAD is now in the downtrend from 1.3119. Further decline could be expected and a breakdown below 1.2961 support could take the price into 1.2850 zone. Resistance is at 1.3119, only a break of this level could bring the price back towards 1.3200.
New SEC Commissioner Dissents On A Bitcoin ETF
The U.S. Securities and Exchange Commission recently (on July 26) disapproved of proposed rules changes that would have greenlit listing of the Winklevoss Bitcoin Trust on the Bats BZX Exchange. In essence, the SEC has now rejected the listing of a Bitcoin exchange-traded product (ETP) on a national exchange. The question before the SEC, in its own […]
Indian Indices Trade Marginally Lower; Precious Metal Stocks Witness Selling
Share markets in India are presently trading marginally lower. Sectoral indices are trading on a mixed note with stocks in the metal sector and power sector witnessing maximum selling pressure. The BSE Sensex is trading down by 104 points (down 0.3%), while the NSE Nifty is trading down by 27 points (down 0.2%). The BSE Mid Cap index is trading down by 0.2%, while the BSE Small […]
Biotech Snapshot During A Rally Day: No Summer Doldrums…
Biotech stocks were mixed trading closer to the flatline after the close on light summer volume. Macro issues such as drug pricing, trade and the Fed remain a concern. Well known gene editing stocks (CRSP, EDIT, NTLA) are volatile and near a 30 day bottom. EDIT trails others down 16.5% YTD, NTLA up 27.8% YTD, CRSP up 90.5% YTD. We have traded […]
