Slowdown In Shale
Another big drop in U.S. rig counts and warnings from major oil service firms is making it clear that the Shale oil slowdown that I predicted is here. Baker Hughes reported a plunge of 7 oil rigs and eight natural gas rigs. Some of the drop is storm related but a lot of the drop […]
Market Outlook – Monday, October 23
Welcome to the weekly outlook starting this Monday, October 23. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. As you’ll read below, it’s an active economic news week with releases coming from all major economies around the globe. On Friday, we also get inflation figures from […]
WTI Crude Oil And Natural Gas Forecast – Monday, October 23
WTI Crude Oil The WTI Crude Oil market initially fell during the Friday trading session, but found enough support underneath that the $50.80 region to turn around and form a nice-looking hammer. It now looks as if we are going to try and reach towards the $52.50 level again, an area that has been resistive. […]
AUD/USD Daily Analysis – Monday, October 23
AUD/USD broke below the rising trend line on the 4-hour chart, indicating that the short term uptrend from 0.7732 had completed at 0.7897 already. Further decline could be expected in the coming days and the next target would be at 0.7732 previous low, followed by the resistance-turned-support trend line on the weekly chart. Resistance levels are […]
World Stocks At All Time Highs After Nikkei’s Record Winning Streak; Euro Slides With Spain On Edge
In an otherwise quiet session, Sunday’s convincing election victory for Japanese Prime Minister Shinzo Abe’s ruling coalition, which gave it another constitution-changing super majority, pushed the Nikkei to the highest level since 1996, after a record 15 consecutive days of gains – the longest winning streak on record – and sent world stocks to new all-time highs […]
US Dollar Starts New Week On Firm Note
The US dollar is enjoying modest gains against most currencies as prospects of both tax reform and additional monetary tightening by the Fed carry over from last week. The strong showing of the Liberal Democrats in Japan, where the governing coalition has maintained its super-majority is seen as confirmation of continuity. This helped lift Japanese shares and weighed […]
US Equities Rose Last Week While Most Other Markets Declined
Losses dominated the major asset classes last week, based on a set of exchange-traded products. But three corners of the global markets bucked the trend with gains: US stocks, junk bonds in the US, and high-yield bonds in foreign markets. The US stock market was the top performer for the five trading days through Oct. 20. Vanguard […]
Short-term Trading Idea FX EUR/GBP – Bear Speculation: Euro To Drop To 0.8624
Trading opportunities on the currency pair: A double top has formed at the 50% level, which has strengthened the bearish engulfing candlestick pattern. Taking the bearish factors into account, the euro is expected to drop to 0.8624. A drop on the EURGBP pair to 0.8856 would be a positive signal for this forecast. Background The previous […]
GBP/USD Daily Analysis – Monday, October 23
GBP/USD extended its downside movement from 1.3337 to as low as 1.3087, breaking below a support level at 1.3121. Further decline towards the major support trend line on the daily chart is possible in the coming days. Near term resistance is at 1.3228, and only an upside break of this level could take price back towards 1.3337 […]
Gold Prices Drop As Trump Trade Narrative Finds New Life
Gold prices dropped amid hopes that some elements of the so-called “Trump trade” may yet come to fruition last week. The Senate adopted a 2018 budget resolution that may pave the way for the US President’s tax cut plans, which markets think might boost near-term growth and stoke inflation. Bets that this will translate into a steeper Fed […]
