USD/CHF: Backs Off Lower Prices On Correction
USD/CHF: The pair halted its broader weakness on Wednesday leaving risk of more correction on the cards. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. On the upside, resistance resides at the 0.9700 level […]
Pound Higher On Brexit Hopes
Currently, the Pound is pulling away from its earlier slide versus the US Dollar, largely attributed as a result of investor profit taking. Analysts say that some FX traders appear to have decided to sit on the sidelines as they watch the most recent developments in the ongoing Brexit saga. In recent days, thanks to […]
Not All It’s Fracked Up To Be
The Energy Information Administration(EIA) releases another EIA Drilling Activity report that raises its estimates for shale oil production without considering the realities on the ground. According to the report, EIA says that U.S. shale oil production will increase by 111,000 barrels a day to 6.55 million barrels a day in February next month and that production […]
December 2017 Consumer Expectations Decreased For Income And Spending Growth
from the New York Fed The New York Fed’s Center for Microeconomic Data released the December 2017 Survey of Consumer Expectations, which shows an increase in short- and medium-term inflation expectations. Expectations about income and spending growth decreased, but expectations about household financial situations and credit availability improved. Labor market expectations continued to improve, with expectations […]
What Sell-Off: US Futures Rebound Sharply, Dow 26,000 Back On Deck
While global shares pulled back in early trading from record highs on Wednesday, U.S. equity index futures are staging another comeback and point to a higher open on Wednesday following a volatile day of trading Tuesday which saw the S&P 500 have its worst reversal in two years. Whether yesterday sharp drop in the S&P […]
EC U.S. Treasuries: Starting Off On The Wrong Foot
There is no doubt 2018 has gotten off to a far different start for the U.S. Treasury (UST) market as compared to the last few years. Indeed, from 2014 through 2017, the UST 10-Year note rallied in the first month or so in each year, but thus far in 2018, just the opposite has occurred. Remember, what happens in […]
USD/JPY Reaches -61.8% Fib Target And Reverses At 110
USD/JPY 4 hour The USD/JPY has reached the main -61.8% Fibonacci target and the round level of 110. Price bounced at that support and seems to be breaking through the resistance trend line (red). 1 hour The USD/JPY made one more lower low within the downtrend but now has made a bullish break above resistance […]
Yield Curve Flattens As 2-Year Treasury Rate Rises Above 2%
The 2-year Treasury yield is above 2% for the first time in nearly a decade. This rate, which is seen as a key proxy for monetary policy expectations, ticked up to 2.03% on Tuesday (Jan. 16), based on daily data via Treasury.gov. The increase, coupled with a fractional dip in the benchmark 10-year Treasury yield […]
‘Yesterday Was A Hell Of A Crazy Day’: Online Gold Sales Explode Amid Bitcoin Plunge
$250 billion. Or thereabouts. That’s how much was wiped off the total market cap of global cryptocurrencies from the time things started to go wrong on Monday to the lows on Tuesday: The dip-buyers showed up briefly on Tuesday evening following another bout of selling after the closing bell on Wall Street that left Ripple […]
WTI Crude Oil And Natural Gas Forecast – Wednesday, January 17
WTI Crude Oil The WTI Crude Oil market broke down significantly during the day, reaching towards the $63.50 level. There is a significant amount of structural importance to this level, so I think it’s only a matter of time before the buyers get involved. I would anticipate a rally from here will more than likely […]
