EUR: The Level Of EUR Will Become Increasingly Important Into ECB Sep-7 Meeting – BTMU
EUR/USD made a round trip to 1.2070 before falling back down, well under the 1.20 level. This could influence the decision by the European Central Bank when it decides on QE tapering. Here is the view from the ECB: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the important date for EUR monetary […]
Cummins New Electric Semi Truck Takes On Tesla: Another Cog In Autonomous Puzzle
Cummins unveiled a revolutionary new all-electric powertrain in a demonstrator truck to the media on August 29, a few weeks ahead of Tesla’s planned revealing of its own electric “semi” truck. The truck is not self-driving, yet it fills a direct need in the path of self-driving trucks. SupplyChain reports Cummins Taking on Tesla with Electric […]
A Recharge For The Canadian Dollar Bull
A little over a week ago, I explained why I put the Mexican peso and the Canadian dollar (FXC) on shorter leashes. Canada’s extremely strong second quarter GDP report at the end of August just loosened that leash a little. Statistics Canada reported 2Q real GDP growth of 1.1%. The annualized growth rate of 4.5% was a […]
The Longer-Term Trend
Sorry I didn’t publish any posts last week. I have been on vacation and out-of-town. I brought my laptop with me, and I thought I was going to have time to post, but it turned out to be a much busier vacation than I expected. The short-term trend is up. The PMO index is confirming. […]
USD/JPY Gaps Sharply Lower On North Korean Hydrogen Bomb Test
Another week, another escalation in tensions around North Korea. The rogue nation claims it tested a mighty hydrogen bomb. While this cannot be verified, the artificial earthquake that was detected in the region seems massive enough. The tremors of 6.3 in the Richter scale pointed to a bomb that is 9.8 times deadlier than in […]
U.S. Major Indices: Money Flow And Moving Averages
Further to my post of August 19, the Russell 2000 Index gained the most, in terms of percent, during the past two weeks, as shown on the following graph of the Major Indices for that time period. It also rallied and closed above its 50 and 200-day moving averages, as shown on the following Daily chart. The following 1-Year Daily charts of the Major […]
Returned To A Bounce Top?
Over the course of my vacation, I have seen markets go from a nascent sell off to a recovery bounce. After four days of gains, markets finished the week slow close to, or at resistance. Shorts may find opportunities in Tech indices. The Nasdaq 100 is at resistance with Friday’s doji marking a double top with the […]
USD/JPY Weekly Analysis – September 3, 2017
USD/JPY failed to break below 108.13 and rebounded from 108.26. A break above 110.94 key resistance could signal completion of the downside movement from 114.49, then another rise to retest 115.50 resistance could be seen. However, as long as 110.94 resistance holds, another fall to test 108.13 support is still possible. A breakdown below this […]
Weekly Trading Forecast: ECB, RBA And BOC Meetings In Focus
Financial markets will look away from the US for the first time in weeks as monetary policy announcements from the ECB, the RBA and BOC enter the spotlight. US Dollar Forecast: US Dollar Resilience May Foreshadow Gains as Data Flow Slows The US Dollar has proven resilient in the face of disappointing news flow. A slowdown in […]
