Author Archive: Jeremy Parkinson
Sterling Charges Ahead On Brexit Hopes
Prospects of a deal with the EU has sent sterling to its best level in two months against the dollar. It reached $1.3430 in early European turnover. It had sunk to nearly $1.3220 yesterday as European markets were closing, which was a four-day low. It is the strongest of the major currencies today, gaining about 0.4%. […]
Tax Gimmicks
Podcast: Play in new window | Download (Duration: 13:16 — 7.6MB) DOW + 255 = 23,836 SPX + 25 = 2627 NAS + 33 = 6912 RUT + 23 = 1536 10 Y + .01 = 2.34% OIL – .36 = 57.75 GOLD – .60 = 1294.40 Cryptocurrency Number of Currencies: 916 Total Market Cap: $318,106,894,241 24H Volume: $16,102,299,246 Top Cryptocurrencies […]
What Will OPEC Do Next?
Oils traders have been watching OPEC and OPEC+ meetings closely – even though their attempt to stifle oil production had been derailed, both by some of its own members and by the U.S. ramping up their own production to offset the slowing of production. Their intent was to slow production to diminish global crude reserves […]
Bitcoin > $10,000 – Levels To Watch
BTC/USD just crossed the closely-watched $10,000 line. This was eyed by many people and become closer to reality over the weekend. After Bitcoin achieved the big prize, is the sky the limit? Will this extra publicity trigger even higher levels such as 15K or 20K? Or will some investors and speculators cash out and sell the […]
GBP/USD Second Bullish Breakout Above 1.33 Resistance Zone
GBP/USD 4 hour The GBP/USD made a bearish bounce at the resistance (red) zone but then found strong support about half way the range. The bullish bounce is showing strong momentum and price could now be ready for a larger bullish breakout. For the moment the bearish wave 4 of yesterday seems unlikely after this […]
Gold Eases As Dollar Gains On Strong U.S. Data
Gold prices ended Tuesday’s session down $0.63 as the dollar strengthened on the back of the better-than-expected U.S. data. The Conference Board’s consumer confidence index came in at 129.5, up from the previous month’s 126.1 and above expectations for a reading of 123.9. XAU/USD traded as low as $1290.58 an ounce, but the market ended […]
China’s Growth Miracle Runs Out Of Steam: Views From Pettis, Blackrock
Michael Pettis at China Financial Markets says, “China’s growth is running out of Steam.” Blackrock brushes off concern. On October 20, Blackrock global chief investment strategist, Richard Turnill, explained What cooling growth in China means for investors. “We see China’s growth rate slowing only to still-solid and more sustainable levels. The implications for investors? Growth in […]
E Elliott Wave Analysis: GBPUSD Can See More Weakness, While EURUSD Higher Levels
The USD is mixed, slightly higher against the EUR, unchanged against the AUD and down against GBP which has been very volatile yesterday when firstly GBP fell but then turned out very strong after the UK denied earlier notes about 45-55 billion divorce bill. We see cable trading at 1.3400 and even high making a […]
South Africa ETFs In Focus On Rating Downgrade
The South African economy has been experiencing low demand for exports and going through political turmoil that has weighed on its economy’s growth. Sequentially, GDP declined an annualized 0.3% in the fourth quarter of 2016 and 0.7% in the first quarter of 2017. However, it grew 2.5% in the second quarter of 2017. Rating Downgrade […]
Markets Break Out Of Midday Anxiety
U.S. equities were solidly in the green, with the major indexes notching fresh highs, shrugging continued tax reform uncertainty and anxiety over North Korea’s latest missile test. The gains came courtesy of a 17-year high in Consumer Confidence, reports of record-breaking Cyber Monday figures, and a more than two-decade high in regional manufacturing activity. Treasury […]
