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Bond Basics: Buying Cheap Bonds
Buying cheap bonds is one of the great joys of investing. But most people miss out on this growth and income play because they cling to the myth that bonds do not fluctuate in price. They do! Bonds drop in value if the underlying fundamentals of the company that issues them take a hit. Municipals […]
Consumer Credit Up 3.1%, Revolving Credit Unexpectedly Declines
After a blistering May, revolving credit fell 0.2% in June as overall credit continued its upward march. Bloomberg reports Consumer Credit in U.S. Rose Less Than Estimated in June. I prefer to go straight to the source. The Fed G.19 Report shows consumer credit rose 3.1% in June, with nonrevolving credit up 4.4% and revolving credit down 0.2%. […]
The Door Is Open
During the decade of the seventies, there was an opening. The Bretton Woods system had largely failed in 1960, but gold exchange lingered onward until August of 1971. Long before President Nixon acted in defaulting on US obligations, however, global currency liquidity had increasingly been supplied through other means. Those “other” means was an offshore […]
The Next Higher Levels For EUR/USD After Conquering 1.1600
The EUR/USD enjoyed an upswing above 1.1600 as the US Dollar lost ground across the board. What’s next? The Technical Confluences Indicator shows that the first cluster of technical levels awaits at 1.1660 where we see the Simple Moving Average 100-4h, the Fibonacci 61.8% one-month, and the Bolinger Band one-day Middle (Standard Deviation 2.2). Next up, 1.1690 is already a more robust convergence […]
USD/JPY Bearish Channel But Price Action Remains Choppy
USD/JPY 4 hour Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave The USD/JPY broke below the support trend line (dotted blue) but the breakout was short as price retraced back to the resistance trend line (red). Overall, price is in a bearish channel at the moment, which seems to be part of a larger bearish ABC (pink) […]
Crude Oil, Gold Prices Echo Sentiment-Driven Swings In US Dollar
Crude oil and gold prices echoed price swings in the US Dollar yesterday. Both commodities edged up in the first half of the day as the greenback corrected lower after the prior session’s gains. That offered a de-facto lift to assets denominated in terms of the benchmark currency on global markets. The move reversed course as the US […]
AUDUSD Daily Analysis – Wednesday, August 8
AUDUSD’s bounce from 0.7348 extended to as high as 0.7439. Further rise is still possible in a couple of days and next target would be at 0.7483 resistance. Near-term support is at the rising trend line on the 4-hour chart, only a clear break below the trend line support could bring the price back towards […]
Sensex Opens Marginally Up; Metal & Energy Stocks Gain
Asian equities are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.4% while the Hang Seng is up 0.2%. The Shanghai Composite is trading down by 0.4%. Meanwhile, the S&P 500 inched nearer to a record high on Tuesday, lifted by Amazon, Alphabet and Microsoft, and by a strong second-quarter earnings season that fuelled optimism […]
S&P 500 And Nasdaq 100 Forecast – Wednesday, August 8
S&P 500 The S&P 500 broke higher to the upside during trading on Tuesday, reaching towards the 2860 handle. We are approaching the highs from January, with an eye on the 2880 handle. I think at that point, the sellers will probably come back into this market, and I believe it will be resistive. This […]
