Author Archive: Jeremy Parkinson
How The Dollar Affects The Stock Market
Written by Ben Carlson (awealthofcommonsense.com) When the dollar is strong, U.S. stocks tend to outperform international equities and, when the dollar is weak, international stocks tend to outperform. (This is all from the perspective of a U.S.-based investor. These relationships would be reversed for a foreign investor in U.S. stocks.) Let’s take a look at […]
Are Sellers Just Warming Up?
On Thursday traders made it clear that they did not want to be long going into a three day weekend. Stocks sold off sending the S&P to the lowest level since March 27th. The small cap stocks continue to get hit the hardest as the Russell has now fallen into negative territory year to date. […]
US Retail Sales And Inflation Disappoint And Drop – USD/JPY Follows
Top-tier US data was released on Good Friday. The data came out below expectations, but the dollar is only reacting in the most obvious place: USD/JPY. Dollar/yen often best reflects American indicators. Will other currency pairs react later on? US CPI dropped 0.3% month over month, worse than 0% expected. Core CPI is also down 0.1% […]
This Is OPEC’s “Target” Price For Oil
As you might have noticed, oil prices got a bump over the past 8 days from two things: 1) war, and 2) a headline out of Saudi Arabia that suggested Riyadh backs the extension of production cuts. Of course we also got the weekly API vs. EIA headline hockey which this week saw the DOE draw (2.16m bbl, so a bigger […]
Miners, Miners, Miners
Weakness seems to be setting in once again with miners & precious metals about the only exception. That said, we may well rip higher Monday. Dips have been bought, but the world is in a tumultuous place going into this long weekend so who knows. All I know is gold is strong and jitters are felt […]
Consumer Prices Unexpectedly Decline, First Drop Since February 2016: Reality Check
Consumers are happy with falling prices but the Fed sure isn’t (assuming, of course, prices are really falling). The Econoday consensus estimate was the CPI would be flat, instead, the BLS reports a decline of 0.3%. This is the first month-over-month CPI decline since February 2016. Highlights Yesterday’s producer price report set up the disappointment for today’s […]
USD/CAD ABCD Pattern Marks The Support
:54 The rate cut wasn’t on the table yesterday as economic data in Canada has improved. The slightly hawkish stance of BOC’s chief Poloc reflected on the USD/CAD, sending the dollar down straight to W L5 support. At this point, we see an ABCD pattern at D L3 support, so the break of 1.3250 could […]
Geopolitics And Trump Support Gold
This week, the price of gold reached five-month highs.|What does it mean for the gold market? It has been a good week for the gold market. The London price of yellow metal reached $1,284 on Thursday, the highest since November 2016, as one can see in the chart below. Gold has gained almost 3 percent […]
Gold Prices May Edge Up On Soft US Inflation Data
Talking Points: Commodities digest as Good Friday holiday drains liquidity Gold prices may edge higher if US CPI falls short of forecasts Crude oil prices stuck as futures markets shutter for the week Commodities marked time as trading activity fizzled ahead of closures for the Good Friday holiday across most major financial markets. Crude oil prices will see their next […]
