Category Archive: Finance, No picture
Crude Dollar Trade
On November 7, 1973, President Richard Nixon addressed the nation via a broadcast television appearance. The topic wasn’t what you might think. Rather than trying to reassure Americans about the unfolding Watergate scandal, Nixon instead attempted to encourage the country about its energy situation. The month before, Egypt and Syria had launched a surprise attack against Israel. […]
S&P Made A New High In August. Pullback In September?
The S&P 500 made a monthly closing all-time high in August. This is uncommon, because the U.S. stock market is usually more volatile from May – September. Historically, this has been a short term bearish sign for the U.S. stock market in September. Here’s what the S&P did in September when it closed at […]
GBP/USD Rate Forecast: Rebound Mired By Downward Trending Channel
BRITISH POUND TALKING POINTS GBP/USD has filled the gap from earlier this week, with the exchange rate snapping the recent series of lower highs & lows, but the broader outlook warns of a further decline as pound-dollar continues to track the downward trending channel from earlier this year. GBP/USD RATE FORECAST: REBOUND MIRED BY DOWNWARD TRENDING CHANNEL […]
Sweden Goes To The Polls September 9
The Swedish krona is the weakest of the major currencies so far this year, having lost more than 10% against the US dollar and about 6.6% against the euro. The main weight arguably was the trajectory of monetary policy. The Riksbank meets tomorrow, but the repo rate is expected to remain at minus 50 bp and the deposit […]
Stocks Slammed After Tech-Regulation Looms From Congress
Emerging Market turmoil and contagion? No problem. Tumbling ‘hard’ US economic data? Meh. Tightening global central bank policies? Ha. Admit 10s of millions of “ad viewers” are robots: Twitter CEO @jack on the purpose of his platform: “For our part, we see our platform as hosting and serving conversations… but also to increase the health […]
Copper Price Could Fall Further As Supply Exceeds Demand
In January 2016, the price of copper reached a multi-year low of $1.935. It then started a major rally that saw it reach a high of $3.32 in December last year. Since then, attempts to continue the upward movement failed and this year, the metal has fallen to a low of $2.561. This is the […]
Bitcoin Daily Forecast – Wednesday, Sept. 5
Bitcoin had a reasonably quiet session during the day on Tuesday, as we approached a significant downtrend line. The next couple of days will be crucial, and of course, the trend line will be known by most market participants. Because of this, I think it’s going to be interesting to see how we react to […]
How US Multinationals Shifting Income To Foreign Countries Reduces Measured GDP
US corporations work their accounting system so that sales and profits turn up in non-U.S. jurisdictions (for example, here’ s description of the Double Irish Dutch Sandwich technique). One implication is that corporations pay lower US and overall taxes; another is that because of this shifting, measured US GDP is smaller than it would otherwise be. Karen […]
USDCHF: Eyes Further Bullish Recovery Higher Towards 0.9787/99 Area
The USDCHF pair looks to recover higher having rallied on Tuesday. On the downside, support lies at the 0.9700 level. A turn below here will open the door for more weakness towards the 0.9650 level and then the 0.9600 level. On the upside, resistance resides at the 0.9750 level where a break will clear the […]
China-Double Topping At 2007 Highs?
Did the Hang Seng Index just create a “Double Top” at the same price it peaked in 2007? Let’s investigate! This chart looks at the Hang Seng Index on a weekly basis over the past 15-years. As you can see it peaked in 2007 and then proceeded to lose over two-thirds of its value. After the large decline, it created […]
