Category Archive: Finance
Yen, Commodity Currencies Capitalize As US Dollar Collapses
The US Dollar sank in Asia Pacific trade, building on losses sustained in the prior session against a backdrop of deteriorating Fed interest rate hike prospects. The priced-in probability of a third increase in 2017 as reflected in Fed Funds futures slipped to 22.6 percent, the lowest yet this year. That sent the greenback to the weakest […]
Gold Rises On Technical Buying, Weak U.S. Dollar
Gold prices ended Thursday’s session up $14.62 an ounce, helped by a slumping U.S. dollar. The greenback came under renewed pressure as the euro rallied after the European Central Bank raised its growth forecasts and indicated it was preparing to scale back its stimulus program. XAU/USD reached the $1353 area in Asia session today after […]
Equifax Momentum & Money Flow In Downtrend
Momentum, money flow, and rate of change have been in downtrend since April of 2016, and have been especially depressed since June of this year, as shown on the following Weekly chart of Equifax (EFX). The stock is down by 6.2% in after-hours trading tonight at 124.00 (horizontal red line in above chart), according to this Bloomberg tweet and report… Its […]
Indian Indices Trade Marginally Higher; Capital Goods Stocks Witness Buying
Stock markets in India are presently trading near the dotted line with positive bias. Sector indices are trading on a mixed note with stocks in the capital goods sector and metal sector witnessing maximum buying interest. Healthcare stocks are trading in the red. The BSE Sensex is trading up 34 points (up 0.1%) and the NSE Nifty is trading up 14 points (up 0.1%). The BSE Mid […]
Yuan Heads For Best Week In More Than A Decade As China Trade Data Is Resilient
Ok, so China trade data is out for August and it’s important to understand the context, which I’ll briefly run through. A couple of weaker-than-expected recent fixings (including Friday’s) and concurrent dips notwithstanding, the yuan is riding a truly epic hot streak. Coming off its best month since revaluation, the onshore yuan closed at 6.4850 […]
Disney Tumbles After Bob Iger Cuts Outlook
Once upon a time, Disney used to be the hedge fund world’s media darling. Not today, however, when at the BofA Media Communications Conference in New York, Disney CEO Bob Iger slashed the company’s outlook and said earnings in 2017 will be “roughly in line” with last year, sending the stock tumbling as much as […]
Euro Higher Despite ECB
The Euro remained close to a 2 ½ year peak against the US Dollar after the European Central Bank reaffirmed its current monetary policy. As expected, interest rates will be kept at their current ultra-low; Mario Draghi, President of the ECB, also kept the door open for more Quantitative Easing, if the economic situation warranted. Draghi […]
EUR/USD Bullish Momentum Break Tests 1.21 Resistance Zone
EUR/USD 4 hour The EUR/USD broke above the resistance trend line (dotted red) yesterday during the European Central Bank (ECB) statement. Price could now be in an uptrend as indicated by the 3 wave structure (pink) or still making a larger ABC (red) correction within wave 4 (blue). 1 hour The EUR/USD could be resuming […]
U.S. Workforce Recovery
We’ve updated our monthly workforce analysis to include last week’s Employment Report for August. The unemployment rate ticked up to 4.4%, and the number of new nonfarm jobs (a relatively volatile number subject to extensive revisions) came in at 156K. The Unemployment Rate The closely watched headline unemployment rate is a calculation of the percentage of the […]
Gold Prices Surge As Fed Interest Rate Hike Prospects Fizzle
Gold prices pushed higher as deteriorating Fed rate hike prospects sank the US Dollar, boosting the appeal of the benchmark anti-fiat asset. The greenback fell to a 15-month low against an average of its top counterparts as the priced-in probability of a third increase in 2017 slipped to 22.6 percent, the lowest yet this year. Crude oil prices […]
