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Archives by Year:
Bank ETFs Soar On Trump Trade, September Rate Cut Bets
Image Source: Pixabay U.S. banks showed a strong comeback over the past week on bullish fundamentals in the space amid market rotation into undervalued segments. The probability of Donald Trump returning to the White House has risen significantly along with a Fed rate cut in September. Both are favorable for the banking sector. The robust second-quarter […]
Bitcoin faces rejection at $65,000 and risks correction to $60,000
Key Takeaways Bitcoin attempted to break $65,000 resistance but faced rejection, retreating to $63,000. Traders highlight potential support at $60,000 if current range fails to hold. Bitcoin (BTC) tried to reclaim the $65,000 price level today, which is the current resistance that needs to be flipped into support, according to the trader identified as Rekt […]
GDP Forecast: CBO Above WSJ
WSJ July forecast relative to CBO, IMF WEO update, and GDPNow as of yesterday: Figure 1: GDP as reported (bold black), WSJ July survey mean (tan), CBO June projection (blue), IMF WEO July forecast (red square), and GDPNow of 7/17 (light blue square). Source: BEA 2024Q1 3rd release, July WSJ survey, IMF WEO July update, Atlanta Fed, and author’s […]
Bank Of Canada Preview: Another One Down
The Bank of Canada looks set to opt for back-to-back rate cuts in July as unemployment continues to climb and inflation converges on its target. We expect 50bp of further cuts this year. Offsetting forces could keep USD/CAD volatility capped for longer, even if we continue to favour a modest depreciation in the pair later […]
The Stock Market Is Now A Giant Ponzi Scheme
Image Source: Unsplash There is a mechanical force that pushes asset prices higher as capital flows passively into the market every month.As more money flows in, it must be used to purchase assets, at whatever current price they’re trading at. That valuation-insensitive purchasing results in higher and higher prices.Today’s guest refers to this current system as […]
Softs Report – Thursday, July 18
COTTON General Comments: Cotton was higher yesterday as a weaker US Dollar supported demand hopes. It looks like futures are cheap enough for now. USDA showed a decrease in production conditions for the crops in its reports yesterday that were the result of some extreme weather seen recently in Texas and the Southeast. The Delta […]
Amazon Prime Day 2024 Smashes Sales Records With $14 Billion
Image Source: Unsplash Amazon.com Inc (Nasdaq: AMZN) faced a slight decline in stock value today despite achieving record-breaking sales during Prime Day 2024, which saw customers spend over $14 billion across its platform.The eCommerce giant reported a surge in Prime members participating in this year’s event, marking a significant increase from previous years.Notably, shoppers showed a […]
Copper Prices Hit 3-Month Low Amid China’s Industrial Concerns
Image Source: Pixabay Copper futures plunged to $4.3 per pound, marking a three-month low in response to President Xi Jinping’s recent speech following the CCP’s Third Plenum.Xi’s speech, which lacked explicit references to stimulus measures aimed at bolstering domestic consumption, has sparked unease within China’s industrial sector, a pivotal consumer of this base metal. Despite […]
Brazil Opens Up
The Brazilian fund has completed an inverted cup-with-handle pattern, and it is behaving beautifully. I have tightened up my stop 28.89 based on this morning’s price gap. Here’s a longer view. More By This Author:A Bet Against Abercrombie & Fitch Why I Bought October $270 Puts On Salesforce Nvidia’s Midline
Gold Rises Without Its Brother Silver – What’s Going On?
Gold has continued to rise over the last two weeks, especially this week. Silver, however, seems to be struggling to find its way back to the uptrend. Let’s therefore analyze the precious metals a little more closely…In the gold markets of London and Chicago, the last few days have seen a renewed accumulation (blue area […]
