US Drillers Continue Lowering Rigs In Oil & Gas Resources
In its weekly release, Houston-based oilfield services player Baker Hughes, a GE company (BHGE), reported a fall in oil and natural gas rig count in the United States. Details Weekly Summary: Rigs engaged in the exploration and production of oil and natural gas in the United States totaled 936 in the week ended Oct 6 – […]
India’s Demonetization Effort Has Demonstrably Failed
Dormant for a while, the debate over India’s demonetization program of last fall has been revived by new evidence. The new evidence on note returns and GDP vindicates the critics and has the defenders in strategic retreat. What Happened To recap: On November 8, 2016, India’s Prime Minister Narendra Modi shocked the nation by announcing […]
Hawkish Fed Rhetoric To Fuel USD/CAD Recovery; August-High On Tap?
GBP/USD has staged a meaningful correction off of 2017-high (1.3657), with the broader outlook clouded by the Brexit negotiations, but the pair may regain its footing ahead of the next Bank of England (BoE) interest rate decision on November 2 as the central bank shows a greater willingness to move away from its easing cycle. Market […]
Stocks Up And Yields Down, Gold And Silver Report
Many gold bugs make an implicit assumption. Gold is good, therefore it will go up. This is tempting but wrong (ignoring that gold does not go anywhere, it’s the dollar that goes down). One error is in thinking that now you have discovered a truth, everyone else will see it quickly. And there is a subtler […]
AUDUSD Daily Analysis – Monday, Oct. 9
AUDUSD’s bearish movement extended to as low as 0.7732. Key resistance is now at 0.7875, as long as the price is below this level, the downtrend could be expected to continue and next target would be at the resistance-turned-support trend line on the weekly chart now at 0.7700. On the upside, a break of 0.7800 level could […]
Consumer Defensive And Energy The Weakest Of The The Sectors
My Swing Trading Approach I plan to continue raising the stop-loss on my current positions, while open to adding 1-2 new long positions to the portfolio. Indicators VIX – Afternoon sell-off kept away a substantial rally on the VIX. Finished 5% higher at 9.65. T2108 (% of stocks trading below their 40-day moving average): Notable 4% drop […]
Multiple Jobholders: Two Decades Of Trends As Of September
What are the long-term trends for multiple jobholders in the US? The Bureau of Labor Statistics has two decades of historical data to enlighten us on that topic, courtesy of Table A-16 in the monthly Current Population Survey of households. At present, multiple jobholders account for just 4.8 percent of civilian employment. The survey captures data for […]
GBPUSD Triggers Corrective Recovery, Eyes More Strength
GBPUSD is halting its broader weakness to trigger a strong correction on Monday, more strength is expected. Support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, […]
Escalating Feud: Turkish Lira Slumps Following Tit-For-Tat Visa Restrictions With US
Last week, Turkey arrested Metin Topuz, a US consulate employee in Istanbul. Turkey accuses Topuz of having links to Pennsylvania-based opposition cleric Fethullah Gulen. Following the arrest, the US placed visa restrictions on Turkish citizens seeking to enter the US. When Turkey responded in kind the . The Turkish lira slumped as much as 6.6% against […]
Q3 Earnings Reports: What To Expect
The big wait is over as the hit parade of Q3 earnings reports gets started this week – big names included (banks are end of week). The tone of the reports and the reaction of the markets will be extremely important. Why all the hype? During this particular reporting season, we usually get a glimpse […]
