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Archives by Year:
E Cotton Prices Break 4 Day Losing Streak
Cotton Futures Cotton futures in the May contract is currently down 90 points at 82.03 breaking a 4 day winning streak as prices are still hovering right near a 4 week high as I’m currently not involved in this market, but I do have a bullish bias to the upside as prices remain strong due […]
Weekly Unemployment Claims: Down 10K, Lowest Since 1969
Here is the opening statement from the Department of Labor: In the week ending February 24, the advance figure for seasonally adjusted initial claims was 210,000, a decrease of 10,000 from the previous week’s revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week’s […]
Sterling Battering Continues
Investors continue to remain wary of the Brexit negotiations and as a result have sold off the Pound Sterling once again. Markets are waiting to hear what the Prime Minister will have to say in regard to the Brexit when she speaks on Friday. Later today, Theresa May will be meeting with Donald Tusk, the […]
Weekly Commodities Wrap: US Dollar Rallies On Powell’s Hawkish First Testimony Sending Metals Lower
Gold: Hawkish Powell Testimony Sends Gold Lower Gold prices continued lower this week, extending losses from the prior week as the market reacted to the first testimony from new Fed Chair Powell. Powell caused a wave of USD buying as he stated that the economic outlook in the US had improved since the December FOMC and said that the […]
Technically Speaking: It Bears Repeating
My friend, Doug Kass, recently penned an interesting note in his daily diary entitled “It Bears Repeating.” To wit: “Several acquaintances I have that have consistently had bearish market outlooks acquiesced after Friday’s market ramp and have taken off their short hedges.” Yes, that would be me. But his important point is next. “If, as I suspect, the early […]
“There’s A Sense Of Shock”: World’s Largest Ad Agency Suffers Biggest Crash In 19 Years
In a world in which a handful of tech companies which derive the bulk of their revenues from advertising are the market leaders, what happened to WPP Plc – the world’s largest ad agency – this morning is particularly relevant: the company suffered its biggest one day crash since 1999, tumbling as much as 15%, after […]
It’s Time For A Global Perspective
In a recent interview with Chuck Butler, he warned us that we may be in for a significant “Minsky Moment”. The federal reserve is raising interest rates and unloading trillions in their US debt holdings. Countries that normally buy our bonds are slowing down their purchases or reducing their holdings. With fewer buyers, what happens […]
US Dollar Posture Continues To Improve; PCE Core, Powell Due Up
The US Dollar (via DXY Index) bottoming efforts continue to take steps forward, with price now at its highest level since January 18. Earlier this week, the DXU Index closed above two key trend levels yesterday: the downtrend from the December 18, January 11, and now February 21 highs; as well as the descending channel top off […]
Crude Oil Price Falling, Is It Bearish?
Crude oil price is hard to forecast because there are so many factors that could influence its movement. Many of those factors are political, have to do with how certain events are perceived: The interpretation of political and economical events in the Middle East, China, Opec’s decisions, and oil inventories. If you read financial media, […]
Sunshine On The Shoulder
It’s Sunshine on the Shoulder season as U.S. refineries slow runs to 87.8% of capacity, running just 15.9 million barrels, the lowest level of the year as seasonal maintenance flips into high gear. The trade seemed disappointed that the overall 3-million-barrel build in crude oil supply was higher than expected. That is what should you […]
