Morning Call For Thursday, March 1
OVERNIGHT MARKETS AND NEWS Mar E-mini S&Ps (ESH18 -0.38%) this morning are down -0.42% and European stocks are down -1.17% ahead of Fed Chair Powell’s second day of testimony before Congress. His comments on Tuesday roiled the markets as they fueled speculation the Fed may quicken the pace of monetary tightening. The markets are also on edge on U.S. trade […]
South32 Digs Minerals
The basic materials sector includes thirteen industries all related to mining, making and delivering essential commodities. The basic material industries are: agricultural inputs; aluminum; building materials; chemicals; coal; copper; paper; silver; specialty chemicals; steel. Today I’m reviewing an industrial metals and minerals company, South32 Limited. It’s trading ticker symbol is SOUHY. South32 Ltd is a mining […]
Success In Trading Depends On These Two Completely Different Factors
This week I read a story about Canadian businessman who bought some low volatility ETF products backed by nothing but margin. “Harvey Hajiyan, a 35-year-old financial adviser who lives in Toronto and has been investing for more than a decade, assumed stocks would continue to grind higher this year, similar to the gains the Dow […]
ECB January Meeting Minutes: A Turnaround From December
The ECB January Meeting Minutes were released from the monetary policy meeting held in January. The minutes surprised the markets as policymakers were unwilling to make any changes in its forward guidance for the markets. The minutes revealed a stark turnaround from officials who had at the previous meeting discussed opportunities for tweaking the language of its […]
EUR/USD: Single Currency Still Under Pressure
Previous: On Wednesday the 28th of February, trading on the euro closed down. Including during today’s Asian session, the single currency has dropped to 1.2184. As the dollar was rising across board, the euro’s drop could have been more intense. It was saved by the euro/pound cross, which posted a 1% gain to reach 0.8869. The […]
The Big Dollar Question: Is This The Turning Point?
As noted on Wednesday afternoon, the dollar managed its first monthly gain in four in February, leading some to wonder if we’ve seen a turning point for a greenback that’s been more “beleaguered” than Jeff Sessions after a Trump Twitter tirade. Of course the dollar story is complicated these days. On one hand, you’ve […]
Risk-Off: Global Stock Rout Accelerates, Futures Slide Below 2700 Before Powell Part 2
With the worst month for global markets in two years now in the history books, world stocks entered March with shaky knees as global equity markets and US futures are a sea of red this morning, as European shares drop the most since a global rout three weeks ago following sharp declines in the U.S. […]
US Raises Tariffs On Chinese Aluminium
It should never be forgotten that the world’s second largest economy is not a capitalist country, but a communist one. Historically, communism and capitalism were implacable foes bent on each other’s demise. It may explain why the Chinese don’t always play by the rules of the rest of the capitalist world as they seek domestic […]
Major Asset Classes – February 2018 – Performance Review
The winning streak hit a wall in February. For more than a year, global markets have been trending higher, in some cases with an unbroken run of monthly gains. But the party came to a full stop last month. For the first time in more than two years, all the major asset classes posted losses […]
EUR/USD Reaches Bounce Or Break Spot At 1.22 Support Zone
EUR/USD 4 hour The EUR/USD is trying to break below the previous bottom (green) but the bearish price action is mild and candles are small. The support zone and the 50% Fibonacci level of wave 4 (pink) is a key decision level for a bullish bounce or bearish breakout. A bearish break makes a wave […]
