Dollar Consolidates Weekly Gain, While Equities Ease To Start New Month
The release of the manufacturing PMIs confirms that the synchronized global expansion remains intact. The focus today is on three unresolved political challenges: US tax reform, the UK-Irish border and the talks that may produce another grand coalition in Germany. The US dollar is mixed, with the dollar-bloc currencies and Scandis pushing higher. The euro and yen […]
Global Stocks, US Futures Slide As Tax Bill Chaos Erupts In The Senate
Markets were thrown for a loop in the past 24 hours, with the Dow first soaring nearly 400 points on Thursday on expectations that tax reform was a done deal, when drama emerged just after the close when the Senate tax bill came this close to falling apart when the proposed “Trigger” was ruled as […]
Major Asset Classes; Performance Review For November 2017
US stocks resumed the lead in November as the top performer for the major asset classes. The Russell 3000 Index gained 3.0% last month, the strongest advance since February and the 13th consecutive month of positive total returns for the benchmark. Most asset classes posted gains in November, with only a handful of exceptions. The […]
USD/JPY Bullish Consolidation At 38.2 Fib
The USD/JPY made a diving board pattern straight from 111.70 zone and it is consolidating now at 38.2 of the previous swing low. The price is supported by 38.2, D L3, W H4 and double bottom within 112.30-40 zone. This accounts for the POC zone. If the price bounces from the zone, targets could be […]
Myths About Tax Cuts And Truth About Growth
An economist’s perspective on the flawed logic behind the proposed 2017 tax bill, and what policy makers could do to encourage U.S. economic growth. It started as a tax cut. Now it could change American life. No responsible fiscal conservative could support a plan that will add to debt in order to help corporations buy back […]
Sensex, Nifty Trade Marginally Lower; Biocon Rises 2%
Indian share markets continue to trade just below the dotted line amid weak global markets. Gains were largely seen in consumer durables stocks and FMCG stocks. Metal stocks and energy stocks witnessed majority of the selling pressure. The BSE Sensex is trading lower by 45 points and the NSE Nifty is trading lower by 18 points. Meanwhile, the BSE Mid Cap index is trading up by 0.3% & the BSE […]
EUR/USD And GBP/USD Forecast – Friday, Dec. 1
EUR/USD The EUR/USD pair initially fell during the trading session on Thursday but found enough buying pressure near the 1.18 level to turn around and rally. By doing so, looks likely that we are going to continue to go higher, perhaps reaching towards the 1.21 level over the longer term. Expect volatility though, as we […]
Stocks Rally Anticipating Historic Tax Cut
Republicans have been salivating over corporate tax cuts and repatriation of the estimated $2.6 Trillion in cash on US company balance sheets overseas that can’t be brought home due to double taxation. Why would Apple repatriate any of its $252 Billion after-tax cash hoards, only to have $88 Billion confiscated by US taxes? Instead, US companies borrow here against their overseas cash elevating […]
USD Testing Critical S&R Levels Versus EUR, GBP And JPY
EUR/USD 4 hour The EUR/USD could be in a wave B (purple) bearish retracement but the bullish price action looks strong. A push higher could occur based on yesterday’s bullish bounce but a break above the 100% Fibonacci level invalidates the wave B zigzag pattern. 1 hour The EUR/USD break below support (blue) could see […]
AUDUSD Daily Analysis – Friday, Dec. 1
AUDUSD extended its downside movement from 0.7644 to as low as 0.7550. Deeper decline to test 0.7532 support is still possible. A breakdown below this level will indicate that the downtrend from 0.7897 has resumed, then next target would be at 0.7450 area. Near-term resistance is at the top of the price channel on the […]
