USD/JPY Weekly Analysis – Sunday, November 19
USD/JPY failed to breakout of 115.50 and pulled back to 111.94, facing the key support at 111.47. A breakdown below this level will confirm that the bounce from 107.31 had completed at 114.73 already, then the following correction movement could take price back to the 109.50 zone. On the upside, as long as 111.47 support […]
USD/JPY Plunges On Safe Haven Flows – Forecast Nov. 20-24
Dollar/yen is falling down alongside global stocks and also commodities. The weak Japanese GDP actually pushed the yen higher. Deliberations around tax cuts in the US are somewhat stuck and this isn’t helpful for the greenback. Worries about North Korean submarines boosted the yen. The upcoming week features Thanksgiving and also the Fed minutes. USD/JPY fundamental movers Fear […]
Earnings Or Revenue-Weighted ETFs: Q3 Winners
We are in the midst of a full-blown earnings season. Out of the 327 members from the S&P 500 index that have reported already, 74.9% beat on bottom line and 65.7% surpassed revenue estimates, per the Earnings Trends issued on Nov 1, 2017. Ongoing positive revenue momentum and favorable revisions in estimates for the current period are […]
Here Is What Goldman Sees For The Economy And Fed Hikes In 2018
Goldman thinks the labor market is going to overheat materially in 2018, inflation pressures are going to materialize, and growth is going to be above-trend thanks to hurricane reconstruction activity (ahem, broken windows) and Republicans cramming through tax cuts in some form or another. That, Jan Hatzius and company figure, will prompt the Fed to […]
Better Than Bitcoin
Salvatore Mundi by Leonardo De Vinci Circa 1490 US equities market had a sloppy week with movement out of the Dow (DIA) -.44% and into the Russell 2000 (IWM) +1.27%, which had been languishing since early October. Most interesting was that two modern family members Regional Banks (KRE) and Retail (XRT ) which were having issues the […]
NFIB Small Business Optimism Index Highlights A Tight Labor Market
Last week NFIB’s October report on Small Business Optimism fell short of expectations, but remained at a high level at 103.8 versus 103 in the prior report. A few highlights from the report: “The tight labor market got tighter for small business owners last month, continuing a year-long trend. Fifty-nine percent of owners said they tried to […]
Another Week That Is Not About The Data
The contours of the investment climate are unlikely to change based on next week’s economic data from the US, Japan, or Europe. The state of the major economies continues to be well understood by investors. Growth in the US, EU, and Japan remains solid, and if anything above trend, as the year winds down. The incremental […]
USD/CAD Forecast: Nov. 20-24
Dollar/CAD moved up in a mixed week, trying to find a new direction amid sliding oil prices. Retail sales stand out in the upcoming week. Here are the highlights and an updated technical analysis for USD/CAD. Canada’s manufacturing sales and foreign securities purchases both beat expectations but the first ADP jobs report showed a drop in jobs. […]
AUD/USD Weekly Analysis – Sunday, November 19
AUD/USD extended its downside movement from 0.8124, facing a support level at 0.7535. As long as the pair is below the falling trend line on the daily chart, the downside move can be expected to continue and next target would be at 0.7328. On the upside, a clear break above the trend line resistance could […]
EUR/USD Closes Higher But With Caution Of Pullbacks
EUR/USD: The pair may be biased to the upside but could face pullback risk in the new week. Resistance comes in at the 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 […]
