Author Archive: Jeremy Parkinson
EURUSD: Expect The Price To Recover To The LB Balance Line On Monday
Previous: On Friday the 13th of October, trading on the euro/dollar pair closed down. The day’s session turned out quite volatile due to the publication of September’s figures for consumer inflation and retail sales in the US, which came out worse than expected. The euro surged 70 pips on this weak data, but erased all its […]
Record Highs Reached By The S&P 500 In Week 2 Of October 2017
Following the records set in the first week of October 2017, the S&P 500 (Index: SPX) continued to mark new highs during the second week of the month. More specifically, the 2555.24 that marked the level of the S&P 500 at the close of trading on Wednesday, 11 October 2017 upped the ante for the index’s series […]
USDCAD Daily Analysis – Monday, Oct. 16
USDCAD is now in downtrend from 1.2598. Further decline would likely be seen in the coming days. The pair is expected to test 1.2433 support, below this level could signal resumption of the downtrend, then next target would be at 1.2300, followed by 1.2061. resistance levels are at 1.2530 and 1.2598, only break above these […]
Oil Prices Higher On Renewed Sanction Talks
Oil prices were broadly higher on Monday morning after Iraqi troops advanced towards Kirkuk, an oil-rich region in Kurdistan that recently declared independence from Baghdad. Also fueling the price increase were renewed fears that there will be fresh U.S. sanctions against Iran. The Iraqi national army has already taken control of nearby areas claimed by […]
FX Week Ahead: China GDP And Communist Party Congress
The markets open next week with the focus on China as the 19th Communist Party congress takes place this week. The event, where President Xi is expected to speak comes in a week where inflation and quarterly GDP figures are expected to be released. It will also be a busy week for the British […]
Gold, The Stock Market And The Yield Curve
The yield curve is a remarkably useful leading indicator of major economic and financial-market events. For example, its long-term trend can be relied on to shift from flattening to steepening ahead of economic recessions and equity bear markets. Also, usually it will remain in a flattening trend while a monetary-inflation-fueled boom is in progress. That’s […]
Above The 40 – Stock Market Lift-Off Turns Into Drift
AT40 = 72.0% of stocks are trading above their respective 40-day moving averages (DMAs) – overbought day #12AT200 = 60.1% of stocks are trading above their respective 200DMAsVIX = 9.6Short-term Trading Call: bullish Commentary A week ago I described “lift-off” for an extended overbought period for the stock market. However, the market failed to follow-up as the S&P 500 (SPY) […]
Catalan Crisis Deepens: Puigdemont Refuses To Play By Rajoy’s Rules – EUR/USD Slides
Spanish PM Mariano Rajoy laid down an ultimatum to Catalan President Carles Puigdemont: clarify if you declared independence. If so, Madrid was ready to suspend the autonomy and impose direct rule. The answer came just before the 8:00 GMT deadline but it isn’t a clear binary response. The letter states that the Catalan government is […]
Eric Peters: “This Is The Nightmare Scenario For The Next Fed Chair”
While we will have much more to share from the latest weekend letter by One River’s Eric Peters shortly, we found the following section on inflation vs asset bubbles – a topic which BofA’s Michael Hartnett has been focusing extensively on in the past year and which serves as the basis for the “Icarus Rally” […]
Euro Awaits CPI Release As Last Pit-Stop Before ECB Next Week
Fundamental Forecast for EUR/USD: Neutral – The Euro finished in the middle of the pack last week again, with EUR/USD rising by +0.76% and EUR/GBP losing -0.90%. – According to the CFTC’s COT report, net non-commercial Euro longs rose back to their highest level of the year during the week ending October 10, 2017, and the highest since May 2011. – Retail positioning points […]
