Category Archive: Finance
Modi’s Demonetization Called “Colossal Failure That Ruined Economy” As India GDP Growth Slumps To 2-Year Lows
India’s embattled Prime Minister Narendra Modi faced a double whammy of abuse this week as his nation’s economic growth collapsed to its weakest since Q1 2014 and India’s Central Bank released a report on Modi’s extraordinary “demonitization” plan last year showing that 99 per cent of the high denomination banknotes cancelled last year were deposited or exchanged for […]
What Matters Most For The ECB Meeting This Week Is The Euro Itself
Fundamental Forecast for EUR/USD: Neutral – EUR/USD traded to fresh yearly highs last Tuesday, but closed the week in the red after the August US NFP report on Friday. – The next move in the Euro will be wholly determined by what happens at the European Central Bank’s September policy meeting this Thursday. – Retail positioning continues to indicate that positioning is stretched […]
Gold Forecast: September 2017
Gold prices settled at $1324.59 an ounce on Friday, making a gain of 2.4% on the week and 4.1% over the month. Tensions between the U.S. and North Korea led investors to increase their safe-haven positions and tepid U.S. economic data weighed on the dollar for much of the month. Although the recent slowdown in […]
EUR/USD Waiting To Break Triangle Chart Pattern
EUR/USD 4 hour The EUR/USD could be building an ABC (red) correction within a larger wave 4 (blue) pattern. A break below the support trend line (blue) would increase the likelihood of such an ABC. The ABC correction (red) is invalidated if price breaks above the 138.2% Fib at 1.2165. A break above the resistance […]
VIX Set For Lowest Annual Average Ever, But…
While intra-month the CBOE Volatility Index reached its highest since November, before plunging back to earth into the end of the month, VIX is still on track to post its lowest annual average on record. Bloomberg notes that in the past decade, VIX gains in August were followed by September declines in all but one instance. While VIX has […]
EURUSD Daily Analysis – Monday, Sept 4
EURUSD is facing 1.1823 support. A breakdown below this level will indicate the short term uptrend from 1.1662 had completed at 1.2070 already, then the following downside move could take price to test 1.1662 key support. On the upside, as long as 1.1823 support holds, the fall from 1.2070 would possibly be correction of the […]
EUR/GBP Technical Analysis: Two-Month Euro Uptrend Broken
The Euro may have started a significant trend reversal against the British Pound, marked by a break of supporting guiding the rising trend since mid-July. The turn lower followed after prices failed to overcome resistance marked by the high set in the aftermath of the Brexit referendum near the 0.93 figure. Near-term support is now […]
Bitcoin, Sour Grapes And The Institutional Herd
If I had a bitcoin for every time some pundit declared bitcoin is a bubble, I’d be a billionaire. There are three problems with opining that bitcoin and cryptocurrencies are bubblicious: 1. Everything is in a bubble now: stocks, bonds, housing, heck, even bat guano is bubblicious. Exactly what insight is being added by yet another guru […]
US Withdrawal From KORUS Free Trade Agreement?
From Reuters: President Donald Trump on Saturday said he would discuss the fate of a five-year-old U.S.-South Korean free trade deal with his advisers next week, in a move that could see him pull out of the accord with a key American ally at a time of heightened tensions on the Korean peninsula. This seems to […]
Sensex Opens Lower After North Korea’s Nuclear Test; Sun Pharma Opens Down By 1.3%
Asian stock markets are lower today as tensions elevated on the Korean Peninsula early after North Korea said it tested a hydrogen bomb over the weekend. The Shanghai Composite is off 0.1% while the Hang Seng is down 0.45%. The Nikkei 225 is trading down by 0.86%. Back home, Indian share markets have opened the day marginally lower. The BSE Sensex is […]
