July Factory Orders Plunge To Weakest Since Feb (As Boeing Bounce Disappears)
Following the Boeing-driven spike, July is landing with a thud back to reality as final data today confirms a 3.3% MoM tumble in factory orders and 6.8% plunge in durable goods orders. In fact, it gets worse as aggregate factory orders are now back at their lowest level since February… As goes Boeing… so goes America? (or […]
USDCAD Daily Analysis – Tuesday, Sept. 5
USDCAD is now in downtrend from 1.2662. Range trading between 1.2339 and 1.2500 would likely be seen in a couple of days. Near-term resistance is at 1.2500. As long as this level holds, the downside movement could be expected to continue and next target would be at 1.2050 area. Only break above 1.2500 resistance could bring […]
A Perspective On Secular Bull And Bear Markets
Was the March 2009 low the end of a secular bear market and the beginning of a secular bull? At this point, over eight years later, the S&P 500 has set a series of inflation-adjusted record highs based on monthly averages of daily closes. Let’s examine the past to broaden our understanding of the range […]
USD/JPY – Another Invalidation Of Breakout
Earlier today, the U.S. dollar moved sharply lower against the yen as demand for safe-haven assets increased after yesterday’s South Korea’s Defense Ministry commentaries. As a result, USD/JPY slipped under important support line once again, invalidating the earlier breakout. What does it mean for the exchange rate? EUR/USD From today’s point of view, we […]
Some Preliminary Thoughts On The ECB’s Capital Key
The ECB’s asset purchase program is constrained by the self-imposed guidelines. As it QE continues, the ECB seems to be bumping against some of these parameters. The situation is thought to be coming to a head shortly, perhaps as early as this week’s ECB meeting. One of the constraints is the country exposure capped at a […]
Using Gold To Hedge Korea Nuclear War Risk? This Is How To Do It, According To Goldman
In a note on the role of gold as a “geopolitical hedge of last resort“, Goldman chief commodities strategist, Jeff Currie, writes that while it is tempting to blame the rally in gold prices on recent events in North Korea – which have certainly helped create a bid in gold – they only explain a […]
Enter The Cruelest Month
Geopolitics are back in focus on this first trading day of September. North Korea’s push forward with another test on the nuclear front over the weekend caused U.S. Ambassador Nikki Haley to suggest that Kim Jong Un is “begging for war.” And given that South Korea is saying that the North is prepping to launch […]
Biotech Digest – INSM Reports Positive Data, MRK Gets EC Approval, LCI Receives FDA Approval
Top Pick of the Day: ORMP Oramed Pharmaceuticals (ORMP) reported the successful conclusion of its meeting with the FDA with regard to its drug candidate ORMD-0801. The company reported that the FDA gave clear guidance that the regulatory pathway for submission of ORMD-0801 will be a Biologics License Application. This implies that post approval, the […]
Payrolls In August 2017 And Gold
The U.S. economy added 156,000 jobs in August. What does it mean for the gold market? Total nonfarm payroll employment increased 156,000 in August, following an increase of 210,000 in June (after a downward revision), according to the U.S. Bureau of Labor Statistics. Analysts had expected 180,000 jobs to be created. Thus, the actual number significantly disappointed expectations. […]
Euro Continues To Consolidate At 1.19
Tuesday’s European session saw mixed dynamics on the major currency pairs. The US dollar fell against its Aussie, Kiwi, and Canadian counterparts, as well as against the yen and pound, while rising against both the franc and euro. The European stock market is trading up. Investors are starting to abandon the safe havens, although the […]
