Author Archive: Jeremy Parkinson
The Amazing Picture Of America’s Oil Export Growth
In December 2015, the U.S. Congress lifted a 40-year old ban on the export of crude oil from the United States. One month later, the U.S. exported a little over $0.5 billion worth of crude oil out of the country. In September 2017, oil exports from the United States to foreign countries surged to $2.3 […]
Restaurant Traffic Continued To Fall In October
Recent earnings reports from Red Robin Gourmet Burgers (RRGB) and DineEquity (DIN), parent of IHOP and Applebee’s, showed continued same-store sales declines, which in our view reflects our cash-strapped consumer investing theme. As these rear-view mirror results continue to come in, we’re focusing on more recent data that point to some improvement, but while some may […]
EUR/USD Daily Analysis – Friday, November 10
EUR/USD broke above 1.1625 resistance and extended its bounce from 1.1554 to as high as 1.1654. A further rise to test 1.1690 resistance is possible. As long as this level holds, the price action in the trading range between 1.1554 and 1.1690 could be treated as consolidation of the downtrend from 1.1879 and another fall towards […]
Gold Prices Rise As Senate Tax Plan Leaves Markets Disappointed
Gold price edged higher as the US Dollar declined, increasing the appeal of anti-fiat assets epitomized by the yellow metal, after the Senate’s tax cut proposal underwhelmed. Lawmakers must now try to reconcile this offering with the one emerging from the House of Representatives last week. This hints at seesaw volatility ahead as Fed rate hike bets oscillate with […]
UK High Street Sales Suffer “Most Horrific” October On Record
The writing was on the wall two weeks ago when retail employment tumbled along with CBI-reported retail sales, but tonight’s BDO High Street Sales Tracker should be the icing on the cake for any looming rate hike as like-for-like sales crashed 5.2% – describe by BDO as “the most horrific” October on record. It was the worst month since right before Brexit […]
Gold Trades Near Three-Week High
Gold prices rose for a second-straight session on Thursday as declines in global equities increased desire for safe haven diversification. XAU/USD moved higher as expected after prices got back above $1283.50, but the market was unable to penetrate the resistance at the $1288 level. The short-term charts are bullish, with the market trading above the […]
China ETFs In Focus As Inflation Increases
CPI and PPI China’s consumer prices increased 1.9% year over year in October compared with 1.6% in September and above expectations of 1.8%, per the National Bureau of Statistics (NBS). It is still way behind China’s target of 3%. Food prices fell 0.4% year over year compared with a decline of 1.4% in September. Non-food […]
Will Forex Volatility Ever Return? This Is Frustrating
The movements in foreign exchange markets have become slow, very slow. There is a dearth of volatility that is becoming worse. Surprisingly enough, volatility was somewhat higher in August than in September and October. And the month of November is one of the worst, despite top tier events. Some currency pairs are better than others. […]
The US Dollar Moved Away From Local Highs
During yesterday’s trading, the US dollar weakened against the majors. The dollar index (#DX) closed the trading session in the negative zone (-0.37%). Implementation of the tax reform in the US has faced some difficulties. The draft law, which was developed in the US Senate, is somewhat different from the draft law of the House […]
Dollar In Doldrums Over Tax Reform Worries
The US Dollar continues to be under pressure in Asian trading and is poised to record a loss for the week on investor disappointment over the latest tax reform proposals. Both the US Senate and the US House of Representatives have put forth differing bills, one of which would delay implantation of the proposed corporate […]
