Morning Call For October 18, 2016
OVERNIGHT MARKETS AND NEWS Dec E-mini S&Ps (ESZ16 +0.55%) are up +0.48% and European stocks are up +1.05% on speculation the U.S. economy is strong enough to handle a slow pace of Fed interest rate increases. The outlook for a slow pace of Fed tightening has weakened the dollar and boosted commodity prices, with Dec COMEX […]
Euro “Will Collapse” As Is “House Of Cards” Warns Architect Of Euro
The Euro “will collapse” as it is a ”house of cards” warned Otmar Issing, the founder and creator of the euro in an extraordinary interview on Monday. Paper currency – Euro paper notes and Greek drachma note In the explosive interview with the journal Central Banking, Professor Issing, said “one day, the house of cards will collapse” as […]
Technically Speaking: Can The Market Hang On To Support?
Last Tuesday, I noted that a market decision was coming soon. It came sooner than I anticipated with a sell-off that broke the bullish trend line from the February lows. To wit: “A major decision point is rapidly approaching which will decide the fate of the market for the rest of the year.” In the daily price chart […]
Daily Trading Opportunities – October 18, 2016
FTSE100: Declines below the 7000.00. The British Index declines, below the resistance area of 7100.00-7000.00. In case the Index continue to this direction, it is possible that the put buyers might be interested for the market. On the other point of view, a reversal upward move could offer opportunities to buyers of call options. NZD/USD: […]
Intel Upgraded To Overweight From Equal Weight At Barclays
Barclays analyst Blayne Curtis upgraded Intel (INTC) to Overweight citing better PC trends and a “compelling relative valuation.” The company is positioned to return to “sustainable growth” amid better computer trends and double-digit server growth, Curtis tells investors in a research note. He raised his price target for Intel shares to $45 from $38. The […]
Sterling Higher After Inflation Report
The UK’s Office for National Statistics reported earlier that inflation in the UK was at its highest level since November of 2016, rising to 1.0% in September from August’s 0.6% against expectations of a rise to 0.9%. Core inflation, which excludes fuel and food prices that are deemed volatile, also unexpectedly rose to 1.5% against […]
Global Stocks Rebound As Fed Fears Ease, Dollar Falls From 7 Month High
If yesterday’s session was dominated by concerns about Fed tightening and rising long-end rates, today fears about a hawkish Fed have subsided, and as a result European, Asian stocks and S&P futures all rose amid speculation Federal Reserve policy will remain accommodative after yesterday’s dovish comments by Fed vice-Chair Stan Fischer who offet Friday’s hawkishness […]
Dollar Slips Broadly But Not Deeply
The US dollar’s upside momentum eased yesterday in North America, and follow-through selling was seen in Asia and the European morning. The dollar is lower against nearly all the major and emerging market currencies. The yen is the chief exception, and only barely, as the greenback straddles the JPY104 area. Last week’s US retail sales and yesterday’s industrial […]
EUR: How To Trade A ‘Quite Dovish’ Draghi This Week? – BofA Merrill
The ECB convenes once again, and this time we could get some hints about action in December. Will the ECB expand or taper QE? Here is the preview from Bank of America Merrill Lynch: Here is their view, courtesy of eFXnews: Our base case is that the ECB will confirm that tapering “has not been […]
Gold Rises As U.S. Data Weaken Dollar
Gold prices ended Monday’s session up 0.27%, or $3.34, to settle at $1255.20 an ounce as the dollar weakened after industrial production and Empire State PMI data fell short of market forecasts. The XAU/USD pair has been bouncing roughly between the $1263 and $1249 levels for some time now and the pattern on the daily […]
