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Archives by Year:
USD/CAD – The Moment Of Truth Is Coming
Although the U.S. dollar increased recently against its Canadian counterpart, currency bulls didn’t manage to trigger an upward move above the 61.8% Fibonacci retracement for the third time in a row. Will their nearest ally be able to stop the selling pressure once again in the coming days? EUR/USD Meets Fibonacci Retracement Yesterday, we wrote […]
What The Midterms Mean For Stocks
Equity returns are historically strongest in the year following the midterms. Conspiracy theorists will judge that politicians in office focus on market-friendly moves that aren’t limited to government spending in order to stay in power. Whatever the reason, the effect is quite remarkable. Since 1960, the S&P500 has risen by 15.9% on average in the […]
E Markets: Splits
Markets love certainty, but Asian exporters get no relief as the US vote makes clear trade policy issues will remain in play. The US mid-term elections proved pollsters right with the House swinging to the democrats 219 vs. 193 republicans, while the Senate remains with 51 republicans, 2 independents and 43 democrats and 4 races […]
China Won’t Bail Out Global Markets This Time Around
I believe there are three important drivers to markets right now. Two long-term and one short-term. These are: China is actively trying to restructure its economy and end its incessant leveraging. A growing issuance of treasury paper, driven by a widening budget deficit and quantitative tightening, is sucking up global liquidity and creating a “crowding […]
Is U.S. Wage Growth Finally Steppin’ Out?
The calendar pages keep flying by, and, kicking off Q4 economic data, investors have just received the October Employment Situation Report. As I’ve blogged throughout the year, the money and bond markets have, in a sense, “graduated” from the typical headlines regarding the unemployment rate and new job creation (which are more secondary in importance […]
ITG To Be Acquired By Virtu Financial For $30.30 Per Share In Cash
ITG (ITG) announced that it has reached a definitive agreement for Virtu Financial (VIRT) to acquire all outstanding shares of ITG’s Common Stock for $30.30 per share in cash. The price represents a premium of more than 40% over ITG’s average closing share price of $21.55 in the 30 days prior to news reports of […]
Morning Call For Wednesday, Nov. 7
Overnight Markets And News Dec E-mini S&Ps (ESZ18 +0.88%) this morning are up +0.79% and European stocks are up +1.29%, both at 2-1/2 week highs, after the results of Tuesday’s U.S. midterm elections signal gridlock in Washington. Stocks rose, the 10-year T-note yield fell, and the dollar index (DXY00 -0.50%) slid to a 2-week low after Democrats […]
Rocket Scientists In The House
Preliminary results are in and it seems like the Democrats have managed to take control over the US House of Representatives while the Republicans maintained control over the Senate. This is a mild upset for President Donald J Trump who previously controlled both houses of Congress. The Democrats aren’t entirely thrilled either as they were hoping to […]
Gold Falls As Stocks Climb
Gold prices fell $5.26 an ounce on Tuesday, extending losses to a third straight session. Global stock markets were mostly firmer as investors moved into riskier assets. The Federal Open Market Committee’s two-day policy meeting kicks off today. No change in interest rates is expected at this meeting. From a chart perspective, the bulls have […]
Equities And Bonds Jump While The Dollar Slumps
Overview: The dollar has fallen against nearly every currency. It had been moving lower at the start of the week, but what seems like a correction broadened and deepened following the US midterm election. The outcome was largely in line with expectations for the Republicans to hold the Senate and the Democrats to take a majority […]
