Yellen’s Cautious Tone Lifts Aussie And Kiwi Dollars
The Aussie and Kiwi Dollars benefited from the greenback’s slide after yesterday’s testimony by the head of the Federal Reserve suggested some caution ahead in terms of interest rates. Though Janet Yellen was cautiously optimistic that inflation would be picking up in the near term, the release this Friday of personal inflation date (CPI) will go a […]
E VBI Vaccines: Hidden Vaccine Gem
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. One of the more interesting and under followed biotechs in the market just announced the official plans to start a major Phase III clinical trial for a drug that has an increasingly unmet […]
NIFTY Elliott Wave View: Resuming Higher
Short-term NIFTY Elliott Wave view suggests that the rally to 9709.3 ended Intermediate wave (1), and the pullback to 9449.06 low ended Intermediate wave (2). Intermediate wave (3) is unfolding as an Elliott wave double three structure where Minor wave W of (3) is currently in progress towards 9894.8 – 9954.5. Up from 6/30 low at 9449.06, Minor wave […]
AUD/JPY, CAD/JPY Press Breakouts As Risk Appetite Surges
Video length: 00:08:11 Federal Reserve Chair Janet Yellen’s two day testimony in front of Congress got off to a better start than most market participants could have hoped for yesterday. The Fed chair’s comments on inflation being a symmetric target – that rates could stop rising if inflation stumbles – is seen as perhaps a […]
Weekly Unemployment Claims: Down 3K From Last Week
Here is the opening statement from the Department of Labor: In the week ending July 8, the advance figure for seasonally adjusted initial claims was 247,000, a decrease of 3,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 248,000 to 250,000. The 4-week moving average was 245,750, […]
International Energy Agency: Off Balance
Despite a record drawdown from US oil inventories and the fact that Saudi exports to the US are at a 30 year low, the International Energy Agency (IEA) is backtracking their prediction of a global oil market rebalancing because of an increase in OPEC oil production. This comes as the agency, famous for underestimating demand, […]
Uber Withdraws From Russian Market, Merges Local Operations With Yandex
Uber and Yandex, the “Google of Russia”, have agreed to merge their ride-sharing businesses in Russia and in five markets across Central Russia, a deal in which Uber cedes control of the market to the Moscow company after years of fierce competition. Diversified internet giant Yandex is the dominant player in Web search, maps and […]
USDJPY: Remains Bearish With Eyes On More Downside Pressure
USDJPY: The pair continues to retain its downside pressure on correction. On the downside, support comes in at the 113.00 level where a break if seen will aim at the 112.50 level. A cut through here will turn focus to the 112.00 level and possibly lower towards the 111.50 level. Its daily RSI bearish and […]
Krona Surges! I Found Some Inflation In Sweden
Earlier this month, the Riksbank removed the easing bias from their outlook. They had too. Do you remember why? Well, it’s because Sweden’s monetary policy is inextricably tied up with ECB policy. The Riksbank is beholden to Draghi. This meant that as Draghi plunged ever deeper into the accommodative Twilight Zone, the Riksbank had to follow him […]
Morning Call For Thursday, July 13
OVERNIGHT MARKETS AND NEWS Sep E-mini S&Ps (ESU17 +0.08%) this morning are up +0.14% and European stocks are up +0.61%, both at 2-week highs after Fed Chair Yellen signaled yesterday that the Fed will be in no rush to raise interest rates as they wait to see if inflation picks up later this year. Signs […]
