Category Archive: Finance
Canadian Dollar Weakens Further Despite Earlier Policy Warnings
Central banks are getting pretty good at having it both ways. Despite two rate hikes, one in July and one in September, the Bank of Canada (BoC) has talked its way to a net no change in the Canadian dollar (FXC) versus the U.S. dollar (DXY0). The U.S. dollar made a higher high against the […]
Day 279: China Still Not Yet Declared A Currency Manipulator
Not that I’m complaining. But seriously, it’s far past the “day one” of the new Administration when Donald Trump promised China would be declared a currency manipulator. The Treasury’s report was released last week. Treasury uses the following criterion: Pursuant to Section 701 of the Trade Facilitation and Trade Enforcement Act of 2015, this section of the […]
Gold Rises As Dollar Eases Ahead Of ECB Meeting
Gold prices ended Wednesday almost unchanged after a volatile session that saw prices swing between gains and losses as investors opted to remain on the sidelines ahead of the European Central Bank meeting. In the latest economic data, durable goods orders jumped 2.2%, while the prior print of 1.7% was revised higher to %2.0. Despite […]
Crude Oil Prices Fall With Stocks As Gold Gains In Risk-Off Trade
Crude oil prices edged lower, with the WTI benchmark tracking the S&P 500 downward to suggest broader risk appetite were the culprit behind the selloff. Markets shrugged off EIA inventory data that fell in line with API projections released Tuesday showing a slight build in raw-material stocks and strong outflows from refined product storage. As for the reason […]
Not Every FANG Made Goldman’s Super- Awesome New Growth Stock Team
Goldman spent what looks like a shit load of time scouring the globe for “secular growth stocks.” And the reason you should care about this is because when things are going ok, but not great, growth should outperform value. As far as Goldman is concerned, that’s what you’re about to see in terms of the […]
ECB Preview: Here’s What Draghi Will Announce On Thursday
Thursday’s ECB meeting is expected to be one of the most important in recent years: Mario Draghi has signaled, and is widely expected to announce a blueprint of what the central bank’s QE tapering will look like beyond 2017, and while no actual tightening will be implemented – either via rates of asset purchases – […]
EUR/USD Daily Analysis – Thursday, October 26
EUR/USD continued its sideways movement in a trading range between 1.1725 and 1.1879. The sideways movement is likely a consolidation of the short term uptrend from 1.1669. Another rise could be expected after the consolidation. A breakout of 1.1879 resistance could signal resumption of the uptrend, then the next target would be at 1.2029. Only […]
EUR/USD Ahead Of The ECB: Where Are The Risks?
Today is Draghi Day. The ECB is set to make its decision and the scenarios are laid out. Where could the surprises come from? And beyond the ECB, what could move the euro? Here are three views: Here is their view, courtesy of eFXnews: EUR/USD: 2 Possible Surprises From ECB; EUR Positioning Into The Meeting – […]
E Market Briefing For Thursday, Oct. 26
Lighting the path for the market’s rotational topping process; we have for several weeks described markets as in an ‘exhaustion phase’, as rotational selling in one sector was offset temporarily by buying in other sectors, like of course old-line Industrial types (which typically are less volatile than techs). Today only one stock we follow really […]
Mutual Fund Cash Hits All Time Lows
With the market now deep in what BofA has called an “Icarus Rally” melt-up phase, it is not surprising that retail investor cash levels are among the lowest ever as Joe Sixpack scrambles – as he always did just before the market crashes – to buy everything that institutions have to sell (and as we […]
