A Bullish Big Picture With Growing Near-Term Headwinds
There’s some growing signs of weakness in this market. Breadth is slipping, credit doesn’t look too great, there’s more new lows versus new highs being made… that kind of stuff. I’m still not getting any major sell signals, except from my high-yield indicator. It flashed a signal today. But there’s word the recent weakness in […]
Gold Prices Look To Fed-Speak For Possible Breakout Trigger
Gold prices retreated from intraday highs after upbeat US CPI and retail sales data crossed the wires. The core year-on-year inflation rate unexpectedly rose to 1.8 percent – the highest in six months – while receipts added 0.2 percent to top forecasts calling for a flat result. The US Dollar rose alongside front-end Treasury bond yields while the […]
Cutting Taxes On Profits And Reality
The post below is silly. It is based on bending over backwards to take silly arguments for the GOP tax plan seriously. This older post is the one with some relevance to the real world. The silly argument is that lower taxes on profits imply a lower cost of capital for firms. Investors will demand the same return net […]
WTI Crude Oil And Natural Gas Forecast – Thursday, Nov. 16
WTI Crude Oil The WTI Crude Oil market went sideways initially during the day but found a little bit of volatility after the inventory announcement. We tried to rally but gave back about half of the gains. The resulting daily candle is a shooting star, which sits on the $55 level, but it’s not until […]
Gold Gives Up Gains As Dollar Moves Higher
Gold prices ended Wednesday slightly lower after a volatile session. XAU/USD climbed above 1283.50 and tested the resistance around the 1288 level, but it was unable to pass through. As a result, the market returned to the Ichimoku cloud on the 4-hour chart. The yellow metal saw pressure after a report released by the Commerce […]
Is The Fed Tightening More Than It Realizes?
Benn Steil, Director of International Economics at the Council on Foreign Relations, and CFR Analyst Benjamin Della Rocca suggest that the Fed’s “unwinding ” of its balance sheet is providing a greater monetary tightening than many realize. Last month the Fed began a gradual reduction of the balance sheet. Each month $10 billion in maturing […]
EUR/USD: Daily Pin Bar Model Suggests A Decline Ahead
Previous: On Wednesday the 15th of November, trading on the euro/dollar pair closed down to form a pin bar or shooting start model on the daily timeframe. The euro opened up in the European session. In the space of three hours, the rate jumped 68 pips to 1.1853. After the publication of US data, buyers shifted […]
Sensex Extend Gains; Tata Motors & Infosys Among Top Gainers
After opening the trading day in green, share markets in India continue to trade firm in the morning trade amid firm Asian markets. Barring realty sector and metal sector, sectoral indices are trading on a positive note, with stocks in the energy sector and stocks in the capital goods sector witnessing maximum buying interest. The BSE Sensex is up by 202 points and the NSE Nifty is trading […]
EU Commission Autumn Forecasts Upbeat
The European Union Commission released its autumn economic forecasts last week. As widely expected, based on the recent trends in the economy and the receding political risks, the euro area economy is expected to continue maintaining its bullish momentum. Regional growth and inflation figures were also significantly higher which is expected to push the […]
USDCAD Daily Analysis – Thursday, Nov. 16
USDCAD extended its short-term uptrend from 1.2666 to as high as 1.2789, facing a resistance level at 1.2819. A breakout of this level could take price to next resistance level at 1.2916, followed by 1.3100. Near-term support is at the rising trend line on the 4-hour chart, only a breakdown below the trend line could […]
