Oil At Important Resistance Area
Oil price got rejected yesterday once it reached the Daily Kumo (cloud) resistance at 47.30$. Oil price could be making a double top reversal here if we see price remaining below the Daily Kumo (cloud). A rejection at current levels will bring pressure to oil prices. A break below 46-45.70$ could signal a reversal confirmation […]
EUR/USD After The ECB: All The Way To 1.20? Four Opinions
Mario Draghi tried to be as dovish as possible, but markets didn’t buy it. The move up on EUR/USD was compounded by the new Trump troubles. What’s next? Here are four opinions: Here is their view, courtesy of eFXnews: EUR/USD: Post-ECB: Towards 1.20 Before A Meaningful Correction – SocGen Societe Generale Cross Asset Strategy Research highlights 2 […]
Gold Pushes Higher On Weakening Greenback
Gold prices rose $3.39 an ounce on Thursday, benefitting from a drop in the U.S. dollar index. The euro surged to its highest level in more than two years after European Central Bank President Mario Draghi said the central bank will discuss when to trim its massive bond purchases in the autumn. Weaker equity markets […]
Dollar Licks Wounds As News Stream Doesn’t Improve
ECB President Draghi did not argue forcefully enough at yesterday’s press conference to dampen the enthusiasm for the euro. The initial dip was quickly bought and the euro chased above last year’s high near $1.1615, and the gains have been extended to nearly $1.1680 today. The next target is the August 2015 near $1.1715 is near. […]
Weekend Reading: Charge Of The Light Brigade
As you I discussed last week, we added risk exposure to portfolios with the breakout to new highs that came in conjunction with a short-term “buy signal” as shown below. However, when we zoom out a bit, a different picture emerges. Note that in all 3-cases, there was a “Stage-1 Advance”followed by a correction which led to a “Stage-2 Advance.” The […]
“Dirty, Difficult, And Dangerous”: Why Millennials Won’t Work In Oil
Like many industries today, the oil industry is trying to sell its many job opportunities to the fastest growing portion of the global workforce: Millennials. But unlike any other industry, oil and gas is facing more challenges in persuading the environmentally-conscious Millennials that oil is “cool”. During the Super Bowl earlier this year, the American […]
Indian Share Markets Erase Gains; Telecom Stocks Plunge As RIL Unveils JioPhone
After opening the day marginally higher, the share markets in India are currently trading below the dotted line. Sectoral indices are trading mixed with stocks in the information technology sector & consumer durables sector leading the gains. While, realty stocks and metal stocks are trading in red. The BSE Sensex is trading lower by 65 points (down 0.2%) while the NSE Nifty is trading lower by 24 points (down […]
China’s Currency Manipulation: Why It Isn’t A Threat To The Rest Of World
by The Indian Economist — this post authored by Rodrigo Zeidan, NYU Shanghai US President Donald Trump was right to accuse China of manipulating its currency –before changing his mind. The same charge, however, could have been levelled from anywhere in the world. Whether directly or indirectly, every country manipulates its money to a […]
5 Stocks To Buy As Housing Starts Hit 4-Month High
U.S. housing starts turned the corner in June, rebounding from a three month long slump. Ground was broken on new homes at the sharpest annual rate recorded over four months. Surely, Wednesday’s report on housing from the Department of Commerce will a long way toward restoring confidence in a sector that has had more than […]
EUR/USD Getting Closer To The 2015 High – Time To Look Higher
Draghi’s unconvincing dovishness and Mueller’s deeper dive into Donald Trump’s dealings are igniting another round of EUR/USD buying. The world’s most popular currency pair is on the move again, topping yesterday’s high of 1.1656 and hitting a new peak at 1.1676. The 2016 high of 1.1620 is clearly broken after this second move. And the next level of […]
