USD/CAD’s Bearish Movement Extended To 1.2483
USD/CAD’s bearish movement from 1.3347 extended to as low as 1.2483, facing the import support at 1.2460 (May 2016 low). Near-term resistance is at the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue. Key resistance is at 1.2608, only a break […]
Gold Steady As Market Pauses After Recent Gains
Gold prices ended Monday’s session nearly unchanged after shuffling between gains and losses as investors took a cautious stance ahead of the Federal Open Market Committee’s two-day policy meeting which kicks off today. The central bank is widely expected to leave rates unchanged. However, the tone of the official statement will be important for the […]
This Top Performing Asset Should Keep Performing: Goldman
Who out there is concerned about the sustainability of the rally in all things Emerging Markets? Our hands are raised and you can review some of our concerns in detail in our handy emerging markets section here. The list of worries is long, but you wouldn’t know it to look at flows data. Essentially, EM is […]
Oil Prices Head Higher On OPEC Moves
OPEC’s move to limit Nigerian oil production combined with Saudi Arabia’s promise to limit exports in August sent oil prices higher on Tuesday morning. Nigeria had previously been exempt from OPEC’s production cuts that are currently in place until March 2018 due because it had been assumed that conflict in the region would limit output […]
EUR/USD Bounces At 1.1625 And Breaks Resistance Within Wave-3
EUR/USD 4 hour The EUR/USD is building a minor correction within the larger uptrend (blue line). A bullish continuation is likely to see price test the 1.1750 round resistance level. The momentum is part of a wave 3 (orange) which is part of larger wave 5 (purple) of wave 3 (green). 1 hour The EUR/USD […]
AUD/USD: A Correction Lower Is Overdue; Above 0.80 To Be Met With RBA Opposition – BTMU
The Australian dollar enjoyed the hawkish meeting minutes from the RBA. Attempts to dampen the expectations were not successful. What’s next? The big number can provide a trigger. Here is their view, courtesy of eFXnews: BTMU FX Strategy Research argues that AUD/USD looks over-extended based on policy expectations given there has been no sign of any change […]
E M&A Spotlight: Michael Kors Acquires Jimmy Choo
With the most recent M&A Activity, we have a partnership between Michael Kors (MIK) and Jimmy Choo. Both companies, who have had their fair share of respectable growth and dominance in the luxury retail / apparel space, have agreed to a deal where Michael Kors is purchasing Jimmy Choo for roughly $1.2 billion. Michael Kors, […]
Big Earnings Week
Podcast: Play in new window | Play in new window (Duration: 13:15 — 7.6MB) DOW – 66 = 21,513 SPX – 2 = 2469 NAS + 23 = 6410 RUT + 2 = 1438 10 Y + .02 = 2.25% OIL + .66 = 46.43 GOLD + .50 = 1256.00 BITCOIN – 0.40% = 2767.87 USD ETHEREUM – 0.66% […]
Gold Prices Shrug Off Upbeat US Data With FOMC In Focus
Gold prices stalled, shrugging off an encouraging set of July US PMI figures that showed nonfarm activity growth grew at the fastest pace in six months. The outcomes were apparently insufficient to inspire a rethink of the recent dovish turn in Fed rate hike expectations ahead of the FOMC policy announcement due later in the week. Consumer confidence data is on tap […]
Trick Question: How Is The Momentum Factor Performing YTD?
If you ask your typical long-only investor (or financial advisor) how momentum is doing this year they’ll likely say, “Amazing!” This statement will almost surely be based on the fact they own (or know about) the iShares “Momentum Factor” Fund (Ticker: MTUM). MTUM is on fire year to date (through 5/31/2017):(1) 17.42% based on market prices versus […]
