Author Archive: Jeremy Parkinson
The New Rash Of Investor Rip-Offs… And How To Avoid Them
Technology like crowdfunding and the rise of various, new asset classes including Bitcoin and cryptocurrencies have combined to create some exciting, new opportunities for investors. But recent statements from the North American Securities Administrators Association (NASAA) warn that scammers and con artists are also following the money, and there has been a significant increase in […]
Another Highly Optimistic Business Owners’ Survey
Many of the consumer and business sentiment surveys continue to be reported at or near record levels. I highlighted a few of these high level optimism surveys last month in a post titled, Sentiment Is Widely Positive. Earlier this week Gallup released the results of the quarterly Wells Fargo/Gallup Small Business Index and Gallup noted, “small business owners […]
This Week In Cryptocurrency – Friday, August 10
Thick Skin Bootcamp Last week, the total cryptocurrency market took an 8% hit from the SEC’s rejection of the Winklevoss ETF filing. This week, the total cryptocurrency market cap fell 14.33%, largely catalyzed by the SEC postponing their decision on a Bitcoin-ETF proposed by CBOE, VanEck, and SolidX. Bitcoin fell from $7,400 to $6,388.59, a drop of 13.67%. Bitcoin’s lowest price this […]
E Markets: Contagion
The summer ended last night. Fear of economic war, contagion from EM, populist politics breaking the EUR – all that mixed with GDP reports from Japan and UK but we aren’t close to done with US CPI ahead begging the risk for more Fed hikes. Russia retaliation. Russian PM Medvedev said that Moscow saw the new […]
Turkey Lays An Egg
Global stock markets are rattled as the President of Turkey, Recep Tayyip Erdogan, runs his economy into the ground raising contagion fear surrounding other European nations. Initially, oil was following the stock markets down but turned positive on a report from the normally more bearish leaning International Energy Agency (IEA) warning that as oil sanctions […]
Consumer Price Index: July Headline At 2.95%
The Bureau of Labor Statistics released the July Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at 2.95%, up from 2.87% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 2.25%, up from the previous month’s 2.26% and above the Fed’s 2% PCE target. Here […]
Lira Plummets As Erdogan Defies Markets, Urges Citizens To Exchange Dollars For Lira
Heading into today’s much-anticipated speech by Turkey’s president Erdogan, market expectations were high for at least a trace of conciliation; some analysts even expressed hopes that the central bank, i.e. Erdogan, would greenlight a rate hike as follows: Fidelity: 1000bps would be a “good start” SocGen: 600bps ADM’s Ostwald: 500bps + IMF’s bailout UBS: 350-400bps […]
E Forex Analysis Of EUR/USD For Friday, August 10
First, we look into the previous day trade and what happened on August 9, 2018, and the EUR/USD pair opened at 1.16089 and went high at 1.16196 and gone to low at 1.15249 and finally closed at 1.15266. The calculated pivot point for the day is 1.15570 The difference between high and low was 94 […]
Morning Call For Friday, August 10
Overnight Markets And News Sep E-mini S&Ps (ESU18 -0.41%) this morning are down -0.44% and European stocks sank -1.33% to a 3-week low on concern Turkey’s economic problems will spill over into the Eurozone. EUR/USD (^EURUSD -0.62%) fell to a 13-momnth low and the 10-year German bund yield declined to a 3-week low after the Financial Times […]
End Game: Lira Collapses Raising Specter Of Capital Controls, IMF Bailout
After weeks spent teetering on the brink, the Turkish lira collapsed on Friday, falling more than 13.5% at one point to beyond 6.30. Thursday’s losses were already accelerating amid what some traders described as stop-loss selling in TRYJPY (that’s a repeat of what happened several months ago during another particularly acute episode) and then, the […]
