Author Archive: Jeremy Parkinson
Productivity Up 2.9% – Real Hourly Earnings Down: Thank You Fed!
Productivity for the second quarter rose 2.9%. Year-over-year inflation-adjusted hourly earnings are down. The BLS report on Productivity and Costs for the Second Quarter 2018 shows that despite productivity increase, real wages are declining. Nonfarm business sector labor productivity increased 2.9 percent during the second quarter of 2018, the U.S. Bureau of Labor Statistics reported today, as […]
EUR/USD Price Analysis: Euro Testing 1.13 – Is Relief In Sight?
Euro testing near-term structural support- a threat for recovery while above 1.1275 Euro is trading into fresh yearly lows today with price now testing key near-term support objectives. Here are the updated targets and invalidation levels that matter on the EUR/USD charts. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more. EUR/USD DAILY PRICE CHART […]
Tesla The 4th Largest Automaker In The World
While all three have seen their market caps drop over the past few days, note below that Tesla’s (TSLA ) recent move higher on the “$420” news leaves its market cap higher than both Ford (F) and General Motors (GM ). Back in early 2013, Ford and GM both had market caps of around $50 […]
Dollar Rallies To Its Highest Point Since June 2017
Dollar Rallies – Stocks Rebound On Tuesday The dollar is set against the world stage. The word contagion was used constantly in the media on Monday. Anything is possible, but it was always extremely unlikely that a Turkish collapse would hurt the stability of the EU. And certainly not the stability of the dollar. It […]
AUD/USD: Bearish Trend Still Dominates Ahead Of AU Jobs
The price action so far today is emblematic of a textbook “risk off” day: stocks are falling across the globe, oil is trading off by nearly 3%, bond yields are generally retreating, and the yen is the strongest performing major currency (though we would note that gold bugs still can’t seem to catch a break!). One […]
NAHB Housing Market Index: “Builder Confidence Remains Firm In August”
The National Association of Home Builders (NAHB) Housing Market Index (HMI) is a gauge of builder opinion on the relative level of current and future single-family home sales. It is a diffusion index, which means that a reading above 50 indicates a favorable outlook on home sales; below 50 indicates a negative outlook. The latest […]
On Which Side Is HKD?
In early March, the CEO of Hong Kong’s Monetary Authority (HKMA) Norman Chan issued a press release claiming among other things his quasi-central bank had more than enough reserves to defend the lower edge of the Hong Kong dollar’s (HKD) monetary band. In trying to settle what was clearly upset markets and not just those in […]
EURUSD Analysis – Wednesday, August 15
This review of the EURUSD pair is written in continuation of my previous discussion titled “EURUSD pair analysis (07.08.2018)”. Earlier on the H4 timeframe, we tracked the descending triangle, within which the euro has been trading against the US dollar since the 1st of May: In the graph above you can see that the pair has […]
Tesla (Barely) Bounces As Goldman Confirms “Acting As A Financial Advisor”
While not confirming that it was advising Elon Musk when he tweeted that they were, Goldman Sachs has moved Tesla to “not rated” because it is “acting as a financial advisor” to the company. TSLA stocks bounced modestly on the news – but remain below Saudi Stake headline levels… It remains unclear as to whether Goldman is acting as a […]
E US Monetary And Fiscal Authorities Need To Get Their Acts Together
A Fed that is determined (for now) to raise the Fed funds rate is driving up the US dollar and inflicting hardship on Emerging Markets…. Historically, Fed Chairs liked to consider the Fed being just the central bank for the US until things blew up globally. Powell is no exception. We could be witnessing a […]
