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FOMC Preps
S&P 500 had a relatively uneventful session, but still managed to close up on improving market breadth – all without XLF taking part. Bonds were likewise bought, earnings announced good, and now the wait is on for AMD, AMZN after the close Tuesday. AMD is likely to disappoint, but the same can‘t be said about […]
2 Consumer Discretionary Funds To Buy As Retail Sales Rise
After recording a stellar 2023, consumer discretionaries have been witnessing a steady 2024. From the beginning of the year till March, the Consumer Discretionary Select Sector SPDR (XLY) jumped 3.1%. While the sector is not scaling the heights of the last 12 months when the same SPDR advanced 24%, one should keep in mind that […]
CZ may become the richest person to ever get jailed in the US
Binance, the world’s largest cryptocurrency exchange, continues to thrive despite the legal troubles faced by its founder, Changpeng “CZ” Zhao.Zhao, who pleaded guilty to violating anti-money laundering laws, faces the possibility of a three-year prison sentence, as recommended by US prosecutors. Zhao is scheduled for sentencing today, April 30, after the initial sentencing date was […]
Euro Commentary – Tuesday, April 30
CPI Stalls at 2.4%The eurozone flash CPI estimate, released this morning, showed that headline inflation in the single currency bloc remains unchanged at 2.4% last month. Additionally, the core reading was seen slowing to 2.7% from 2.9% prior, though slightly above the 2.6% the market was looking for. The ECB recently signalled that it is […]
GBP/USD Price Analysis: Buyers Dominate Ahead Of FOMC
The GBP/USD price analysis reveals a mild bullish sentiment continuing from last week’s momentum. However, the dollar endeavors to firm up ahead of Wednesday’s Fed policy meeting. Notably, the pound fell as the impact of last week’s upbeat data wore off, allowing traders to focus on the policy divergence between the BoE and the Fed. Moreover, […]
New Biden Energy Rules Will Raise The Cost Of A New Home By $31,000
New HUD energy rules will raise the cost of home construction by imposing stricter building codes. Payback time is 90 years. Homes To Become Even More UnaffordableThe Wall Street Journal comments on Biden’s New Plan for Unaffordable Housing. The Department of Housing and Urban Development is mandating costly new energy standards for new homes insured by the […]
3M’s Q1 Shows Marginal Sales Decline Offset By Strong Operational Performance
3M has reported its Q1 results, with slight declines in sales but significant improvements in operational performance and earnings.3M (MMM) has reported its financial results for the first quarter, showcasing slight sales declines but significant improvements in operational performance and earnings. The company announced sales of $8.0 billion, experiencing a marginal year-on-year decrease of 0.3%. However, […]
EUR/USD Analysis: Bulls Await More Stimulus
Overall, selling pressure reminds us that this exchange rate is in a technical downtrend, and any strength should be considered short-term. US dollar buyers should be ready to jump on these comfortable highs. Overall, we note that the EUR/USD price broke below the 1.0711 level on Friday, which constitutes the 61.8% Fibonacci retracement of the late 2023 and early […]
US Recession Warning Via States Economies Was A False Alarm
The value of modeling recession risk based multiple indicators is a hardy perennial. The latest example comes by way of aggregating trends in the 50 US state economies for estimating the odds that a NBER-defined downturn has started or is imminent. As recently as February this indicator looked ominous. But as the latest updates show, the warning turned out […]
GBP/JPY Forecast: Massive Moves Against Yen
GBP/JPY is a market that is getting out of control and volatility is probably going to continue to pick up. But at this point in time, the trend is still very positive. And that’s something that you’re going to have to be cognizant of. With that being the case, I have no interest in trying to get to […]
