EUR/USD And The 1.20 Challenge – Two Views
EUR/USD is entrenched at the 1.17 handle, with 1.20 still looming above. Some say that oil prices are well-correlated to the 1.20 barrier. Here are two opinions: EUR/USD: 1.20 Remains A Realistic Short-Term Target – BTMU BTMU FX Strategy Research believes EUR/USD break and settling above 1.1714 intra-day high from 2015, which takes EUR/USD to levels that prevailed […]
July 2017 Headline New Home Sales Significantly Decline
Written by John Lounsbury and Steven Hansen The headlines say new home sales crashed and well below market expectations. Our analysis continues to show a continuing deceleration of new home sales. Analyst Opinion of New Home Sales This month the backward revisions were moderately up, but the rolling averages significantly declined. Because of weather and other factors, the […]
WTI Algos Uncertain After Gasoline Inventories Draw But Crude Production Surges
WTI crude prices managed to scramble back up to pre-API-tumble levels ahead of DOE’s data dump this morning with all eyes on gasoline inventories, which did not disappoint showing a small draw (in line with expectations) along with crude’s draw which was roughly in line with API and expectations. Production continues to rise to highest since July 2015. […]
It’s All Backward
Confirming that they inhabit the same planet but live in a very different world, Mario Draghi, the head of the European Central Bank, who is front and center for global monetary politics this week spoke in Germany ahead of his Jackson Hole main event. What he said was astounding in the same sort of way […]
Trucking Data Improves In July 2017
Headline data for truck shipments improved in July. ATA Trucking American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.1% in July, following a 4.4% drop during June. In July, the index equaled 138.5 (2000=100), up from 138.4 in June. Said ATA Chief Economist Bob Costello: July’s small increase in truck tonnage fits […]
Higher Food Prices Are Coming Soon. Here’s How To Profit
One of my memories as a teenager in the 1970s is going into a grocery store… …and finding a dozen or so price stickers — each for higher and higher amounts — stuck to the top of whatever item I wanted to buy. Yep, that’s what happens when double-digit food inflation becomes the norm. It […]
Wal-Mart Plans For More Innovation?
Last year, Wal-Mart’s U.S. stores and Sam’s Club brought in a combined revenue of $365.4 billion, which is about ten percent of all non-automotive retail in spending in the U.S. Most of the country’s GDP depends on consumer spending. So having the market share of nearly one tenth of all retail spending is evidence of […]
July New Home Sales Down 9.4% From June
This morning’s release of the July New Home Sales from the Census Bureau came in at 571K, down 9.4% month-over-month from a revised 630K in June. Seasonally adjusted estimates back to April were also revised. The Investing.com forecast was for 612K. Here is the opening from the report: Sales of new single-family houses in July 2017 were […]
OPEC To Decide On Ending Or Extending Production Cuts In November
Last week, Crude Oil tumbled despite the huge decline in the US Crude Oil Inventories, which posted the biggest weekly decline since September of last year. Crude Oil prices ignored these figures and continued to decline further. Brent touched $50, and WTI slid to 46.50’s. Some OPEC reports came out, and that led to a […]
Bulls Or Bears?
I’m playing both sides of the market right now, as it is becoming near impossible to put full faith in the case of the bulls or the bears. Indicators VIX – Close to going back into the 10’s yet again as VIX lost 14% yesterday. Now down over 27% since Thursday’s close. T2108 (% of stocks trading […]
