Euro Extends Pullback
After rising to its best level since October 20, the euro reversed direction yesterday and has extended its pullback today. The unexpected tick up in US core CPI and better than expected retail sales may have helped spur the euro losses after a three cent run-up over the past several sessions. There bearish candlestick (shooting star) leaves the late […]
Sensex Continues Uptrend; Auto Stocks Witness Buying
After opening the day on a positive note, the Indian share markets have continued the momentum and are currently trading comfortably in green. All sectoral indices are trading in green, with stocks in the IT sector and the auto sector witnessing maximum buying interest. The BSE Sensex is trading up 260 points (up 0.8%) and the NSE Nifty is trading up 78 points (up 0.8%). […]
AUDUSD Daily Analysis – Thursday, Nov. 16
AUDUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 0.7729. As long as the price is below the trend line, the downtrend could be expected to continue and next target would be at 0.7500 area. On the upside, a clear break above the trend line resistance will […]
UK Retail Sales Rise By 0.3% – GBP Marginally Higher
It’s not all doom and gloom for the British consumer. Retail sales are up by 0.3% m/m, on top of a small upwards revision. Year over year, sales are down 0.3%, a bit better than -0.6% predicted. Excluding fuel, the volume is up by 0.1% and down 0.3%, all the figures are a bit above […]
Bonds Through The Cycle
The topic of the yield curve is one that has been coming up a lot lately, particularly as the 10s minus 2s spread has dipped to the lowest point since just prior to the financial crisis. A few people have referenced this as a bearish signal, and it’s true that you tend to see a […]
A Bullish Big Picture With Growing Near-Term Headwinds
There’s some growing signs of weakness in this market. Breadth is slipping, credit doesn’t look too great, there’s more new lows versus new highs being made… that kind of stuff. I’m still not getting any major sell signals, except from my high-yield indicator. It flashed a signal today. But there’s word the recent weakness in […]
Gold Prices Look To Fed-Speak For Possible Breakout Trigger
Gold prices retreated from intraday highs after upbeat US CPI and retail sales data crossed the wires. The core year-on-year inflation rate unexpectedly rose to 1.8 percent – the highest in six months – while receipts added 0.2 percent to top forecasts calling for a flat result. The US Dollar rose alongside front-end Treasury bond yields while the […]
Cutting Taxes On Profits And Reality
The post below is silly. It is based on bending over backwards to take silly arguments for the GOP tax plan seriously. This older post is the one with some relevance to the real world. The silly argument is that lower taxes on profits imply a lower cost of capital for firms. Investors will demand the same return net […]
WTI Crude Oil And Natural Gas Forecast – Thursday, Nov. 16
WTI Crude Oil The WTI Crude Oil market went sideways initially during the day but found a little bit of volatility after the inventory announcement. We tried to rally but gave back about half of the gains. The resulting daily candle is a shooting star, which sits on the $55 level, but it’s not until […]
Gold Gives Up Gains As Dollar Moves Higher
Gold prices ended Wednesday slightly lower after a volatile session. XAU/USD climbed above 1283.50 and tested the resistance around the 1288 level, but it was unable to pass through. As a result, the market returned to the Ichimoku cloud on the 4-hour chart. The yellow metal saw pressure after a report released by the Commerce […]
