Republican Tax Plan Does Not Worry KB Home
The angst may already be fading away. Last week, I chronicled the carnage across the stocks of home builders that erupted in response to the Republican plan for tax reform that includes a reduction in the cap on the mortgage interest deduction. The sell-off that likely had roots in the extreme displeasure emanating from the National Association […]
Here Lies The Bull Market-R.I.P.
Janet Yellen has led the Federal Reserve with a steady hand. Even with the goal of winding down the Fed’s balance sheet, her “status quo” on rates stems from her uncertainty about the economy in the coming year. The market tends to run six months ahead. Therefore, the recent heat or solid economic factors such […]
EUR/USD: Can It Move Up From Here? Two Opinions
EUR/USD dipped yesterday to the lowest levels since July, but never went too far. What’s next? Here are the views from BTMU and SocGen. Here is their view, courtesy of eFXnews: EUR/USD: Consolidation Into Year End Before Resumes Strength: Where To Target? – BTMU BTMU FX Strategy Research discusses EUR/USD outlook into year-end expecting that following […]
Gold Retreats As Dollar Firms
Gold prices dropped $6.52 an ounce on Tuesday but remained within the trading range of the past eleven days. XAU/USD tested the support at around the $1273 level and was able to stay above the 4-hourly Ichimoku cloud. The key levels remain unchanged, as the market continues to move between the $1283.50 and the $1263 […]
Gold Prices Still At The Mercy Of US Tax Cut Prospects
Gold prices turned lower as the US Dollar mounted a recovery from the previous day’s losses, undermining the appeal of anti-fiat assets. From here, a lull in top-tier data flow keeps the focus on prospects for passing a US tax cut reform. That puts the yellow metal at the mercy of incoming headlines as investors await the release of the […]
Forex Strength And Comparison November 2017
In the Currency Strength table, the EUR was the strongest currency again while the NZD was the weakest. There were some significant changes last month with the JPY gaining 3 points, the USD 2 points and the CHF losing 2 points. The other currencies remained around the same level of last month with a maximum change in […]
Is A Dividend Cut On The Horizon For DBL?
One of the closed-end funds that seems to be a recurrent favorite on our watch list is the DoubleLine Opportunistic Credit Fund (DBL), run by Jeffrey Gundlach of DoubleLine Capital.This unique actively managed portfolio was the first of its kind to debut from DoubleLine back in 2012 and has developed a cult following among CEF investors. DBL […]
EUR/USD Daily Analysis – Wednesday, November 8
EUR/USD extended its downside movement from 1.1879 to as low as 1.1554, breaking below 1.1574 support, suggesting that the downtrend has resumed. Further decline would likely be seen in a couple of days and the next target would be in the 1.1400 area. Near term resistance is at 1.1625. Only a break above this level could […]
Saudi Purge Goes Nuclear: Over 1,200 Bank Accounts Frozen
One day after we reported that Saudi Arabia has started to freeze the accounts of the dozens of arrested royals, ministers and businessmen, in the process allowing Mohammed bin Salman to further cement control over the Kingdom, the Kingdom has taken its “money laundering” crackdown to the next level and on Tuesday, Saudi banks have frozen […]
Fed And The Dollar Drive Short-Term Pullback On Gold
In the absence of a major bullish catalyst, with interest rate expectations on the rise and stock market indices at or near record highs globally, gold has been consolidating since the intermediate high posted in early September. That high, set just after speeches by the Fed’s Mester, Dudley and George and immediately prior to the beginning of the […]
