Gold Prices Fall As Dollar, Stocks Rise
Gold prices ended Monday’s session down $9.25 as investors continued to cash in profits from a recent rally that pushed the market to the highest level in a year. The reduced anxiety in the marketplace and the rallying world stock markets have put downside price pressure on the safe-haven gold market. XAU/USD is trading at […]
Sensex Reclaims 32,000-Mark In The Opening Trade; Tata Steel Surges 4.2%
Stock markets across Asia are mostly trading in green after a strong rally on Wall Street in overnight trade. The Japan’s Nikkei 225 is up 0.98%. The China’s Shanghai Composite added 0.04% and Hong Kong’s Hang Seng is trading with marginal losses. The US stocks started the week on a positive note and ended the session with solid […]
EUR/USD Builds ABC Retracement Back To Support Trend Line
EUR/USD 4 hour The EUR/USD continued to move lower as it approaches the support trend line (blue) yet again. The bearish bounce is indicating that the recent bullish momentum is probably a wave B (red), which is part of a larger ABC (red) correction. 1 hour The EUR/USD did not confirm the bullish break yesterday […]
Some Are ‘Cheesed Off,’ But Here’s Why The Treasury Rally Can Continue
“At last Treasury yields are rising,” Bloomberg’s Paul Dobson writes, projecting what he imagines might be going through the heads of macro strategists the world over. “A glance over the latest weeklies suggests many of them are getting really cheesed off with the government bond market [and] JPMorgan is perhaps the most explicit,” Dobson adds, before […]
This Is The Dollar’s Worst Year Since The Plaza Accord
Entering 2017, the USD had been up four years running on a broad trade-weighted basis with 8.6% gains in 2014, 10.7% appreciation in 2015 and a more modest 3.0% move in 2016. That last year was a less dramatic move, but from May 2nd lows to the 15+ year peak on January 7th, the buck was […]
GBP/USD Risks Larger Advance Ahead Of BoE On Strong U.K. CPI Report
Trading the News: U.K. Consumer Price Index (CPI) An uptick in the headline and core U.K. Consumer Price Index (CPI) may spark a bullish reaction in GBP/USD as it puts pressure on the Bank of England (BoE) to lift the benchmark interest rate off of the record-low. Even though the BoE is widely expected to retain the current […]
EURUSD Daily Analysis – Tuesday, Sept 12
EURUSD is facing the support of the ascending trend line from 1.1662 to 1.1823 on its 4-hour chart. A clear break below the trend line could bring price back to test 1.1823 support, below this level could signal completion of the uptrend from 1.1662, then the pair would find support at 1.1662. On the upside, […]
Stocks To Watch: RPM, DO, CCE
Today’s stock picks Long RPM Int’l (RPM) Long Diamond Offshre Drilling (DO) Short Coca-Cola European Partners (CCE)
Looks Like The COT Report Wins Again, As Gold And Silver Fall Sharply
Eventually physical demand for precious metals will swamp the games being played in the paper (i.e., futures contract) markets. So every time the commitment of traders report (COT), which tracks those paper games, turns bearish while gold and silver continue to rise, the precious metals community watches hopefully for signs that fundamentals are at long […]
1990s Bubble But In Reverse
Update On ECB Bond Buying A new milestone is about to be reached in the ECB’s bond buying program. There have now been 998 bonds bought by the ECB. You can see the effects in the chart below. The BB rated euro high yield bond index is now at almost the same yield as the […]
