GBP/USD Daily Analysis – Thursday, November 16
GBP/USD is now facing 1.3229 resistance. A break above this level could take price to next resistance level at 1.3337. Above this level could trigger further upside move to 1.3470 area. However, as long as 1.3337 resistance holds, the sideways movement in the trading range between 1.3027 and 1.3337 could be treated as consolidation of […]
Aussie Dollar Pressured By Disappointing Data
The Aussie Dollar was among the currency world’s biggest movers, losing some 0.6% against the US Dollar and touching on a 4-month trough. That movement comes on the heels of disappointing labor data from Australia, which showed that third quarter wage price index rose 0.5% (quarter-over-quarter) and 2.0% (year-over-year), falling short of analysts’ forecasts of a […]
Piper Ups Cisco Target To $37 On ‘Strong’ Quarter
Cisco Systems reported modest upside versus October quarter estimates while guiding revenue and earnings above expectations for the January quarter, Piper Jaffray analyst Troy Jensen tells investors in post-earnings research note partially titled “Company Networks Together Strong Results.” The analyst sees Cisco’s transition to more of a software based model impeding any substantial near-term revenue […]
Bullish EUR/USD Retraces To 50% Fib Level Of Wave-4
EUR/USD 4 hour EUR/USD reached the 161.8% Fibonacci target of wave 3 (pink) after breaking above the 1.1750 resistance. The current bearish price action could be a retracement within this impulsive wave 3 pattern (pink). 1 hour The EUR/USD is probably building multiple wave 3s now. The Fibonacci levels of wave 4 (purple) could act […]
Weekly Heating Oil Prices – Wednesday, November 15
We’ve used data based on the Energy Information Administration (EIA), which publishes price data weekly on home heating oil in 38 states by dollar-per-gallon before taxes. Unlike natural gas and electricity, home heating oil is provided by independent retailers. The latest price of home heating oil nationwide is $2.80, up six cents from last week and up […]
Amazon Slashes Whole Foods Prices In Round 2 Of Grocer Wars
Three months after Amazon slashed some Whole Foods prices by as much as 43% on the day its purchase of the grocery chain closed in its first (of many) attempts to steal market share from competitors by selling at a loss, today Amazon announced round 2 of the grocer wars, when it unveiled even more discounts on […]
Japan’s Economy Posts Seventh Straight Quarterly Growth
The Japanese economy is the third largest in the world behind the USA and China. Japanese GDP is worth approximately $4.9 trillion and it has a population of 126 million, almost 28% of whom are over 65 years of age. The proportion of elderly Japanese has been referred to as a demographic time bomb as […]
Crude Oil Prices Eye Inventory Data After Largest Drop In 2 Months
Crude oil prices sank, suffering the largest daily loss in two months, after the IEA lowered its demand outlook and predicted a firm new floor has not been established. This was followed by API inventory data that revealed a shocking 6.5 billion inflow into US storage last week. The spotlight now turns to EIA inventory data, where a 1.8 million […]
EUR/USD Daily Analysis – Thursday, November 16
EUR/USD failed in its attempt to breakout of 1.1879 resistance and pulled back from 1.1860. However, as long as the price is above 1.1740 support, the fall would possibly be consolidation of the uptrend from 1.1554, and another rise to test 1.1879 resistance is still possible after the consolidation. A breakout of this level will […]
October 2017 Import Sea Containers Decline
The October month-over-month import container counts are weaker than the previous month. The rolling averages for exports are deeply in contraction. Analyst Opinion of Container Movements Simply looking at this month versus last month – the growth rates declined for both exports and imports. Looking at the three month rolling averages were weaker for imports […]
