An Imperfect Circle
DOW + 15 = 17,229SPX – 2 = 2019 NAS + 1 = 4750 10 Y – .02 = 1.96%OIL – 1.15 = 37.35 GOLD – 15.10 = 1236.00 No economic reports scheduled for this morning, but the remainder of the week will be busy. The Fed FOMC will release their economic forecast along with their […]
Gold Drops As Investors Lock In Gains Ahead Of FOMC
Gold prices ended Monday’s session down $15.27, to settle at $1234.96 an ounce, pressured by strength in the dollar and global equity markets. The market initially tried to break upwards but came under fresh selling pressure at around the $1258.60 level where the Tenkan-Sen (nine-period moving average, red line), Kijun-Sen (twenty six-period moving average, green […]
Dollar And Yen Firmer
The US dollar is steady to firmer against most of the major and emerging market currencies. Equity markets are heavier, and oil continues to surrender some of its recent gains. Profit-taking is weighing on eurozone bonds and JGBs while US Treasuries and UK gilts are firmer. The main exception to the firmer dollar is the […]
Catch These Brazil ETFs On A Rebound
With a highly charged political drama in the backdrop, the Brazil stock market has been one of the best performers this year. The benchmark Ibovespa is up 14.5% year to date (as of Mar 11, 2016). This rebound in Brazil after a disappointing 2015 can be attributed to improving commodity prices and a new round […]
Silver-Gold Ratio A Party Pooper
Look folks, I realize that the last month has been fun for everybody with stocks and commodities bottoming and joining the bounce party. Reproducing the Multi-asset chart from NFTRH 386 once again, we see that gold led the whole thing by a couple of months and as of this morning’s pre-market post was pretty much still in […]
The Liquidity Endgame Begins: Whiting’s Revolver Cut By $1.2 Billion As Banks Start Slashing Credit Lines
Earlier we reminded readers about the circular (and why note fraudulent conveyance) scheme hatched by JPMorgan to reduce its secured loan exposure to Weatherford, when just two weeks ago none other than JPM underwrote an WFT equity offering in which it sold equity in the company, and which proceeds were promptly used by the company to repay […]
EUR/USD Forex Signal For March 15, 2016
EUR/USD Signal Update Yesterday’s signals were not triggered. Today’s EUR/USD Signals Risk 0.75% Trades must be made between 8am and 5pm London time today only. Long Trade 1 * Long entry following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.1068 and 1.1035. * Put […]
Euro Risks Falling To 1.1020
Yesterday’s Trading: The USD on Monday closed up against the EUR. The euro/dollar was down against Friday’s 1.1079 minimum. Trading volumes are still low on the market at participants lie in wait for central bank announcements. Market Expectations: A two-day FOMC meeting begins on Tuesday. No one expects the Fed to change their rates this […]
Having Killed Their Equity Market, China Unleashes “Tobin Tax” For FX Market
In September last year, Chinese regulators stepped on the throat of a ‘fair’ market in equity futures trading and for all intent and purpose killed the Chinese equity market. Tonight – after 2 days of Yuan weakness – having warned everyon from Soros to Kyle Bass that “betting against the Yuan can’t possibly work,” The PBOC […]
The Search For Cause
If China is most representative of the current state of the “dollar” economy, Brazil is surely most representative of its worst case. The country’s economy has been like China in slowing down steadily over the past few years, but unlike China it has descended already into a nightmarish level of distress. In other words, Brazil already has […]
