For several weeks now, we (NFTRH) have been managing the potential for a bounce in the precious metals. This was primarily based on over sold readings, a gold bug ‘puke’ event in mid-July and outstanding CoT alignments for both gold and silver. Targets were gold 1140 and silver around 15.50 [1]. Gold still has a…
US labor productivity rebounded in the second quarter rising 1.3%–a solid revival from Q1’s 1.1% decline (revised up from the previously estimated 3.1% decline). But the trend remains weak—productivity increased only 0.5% for the 12 months through June. Yet labor unit costs are rising at a much faster rate—up 2.2% in year-over-year terms through Q2. “What it…
Guest post The financial environment in the United States is still confusing. There is still a huge level of credit card debt. Spending is a boost to any economy, but if it is spending that individuals can ill afford, then is it a recipe for disaster? A recent survey by USA Today/Wells Fargo makes for…
EUR/USD Signal Update Yesterday’s signals expired without being triggered as there was no bearish price action when the price first hit 1.1035. Today’s EUR/USD Signals Risk 0.75% Trades may only be made before 5pm London time today. Long Trade 1 Long entry following a bullish price action reversal on the H1 time frame immediately upon the…
The euro has rallied to new highs since mid-July, and after repeated attempts to convincingly break above JPY125, the dollar is retreating against the yen as well. The euro reached almost $1.1160. The next target is near $1.1200. The dollar is posting an potential key reversal against the yen by making a new high for the…
Harbor International Investor Fund (HIINX – MF report) a Zacks Ranked #2 (Buy) seeks long-term total return, principally from growth of capital. The fund invests primarily in equity securities, principally common and preferred stocks of foreign companies with the principally from growth companies, including those located in emerging market countries. Under normal circumstances, the fund must invest in…
Overnight, as previously reported, the world was shocked to find that following the record 1.9% devaluation yesterday, China’s ongoing attempt to bring its currency into balance was not a “one-off” thing as the PBOC desperately wanted to spin it, but tumbled by 1.6% again just this morning to a 6.3306 fixing, the lowest since October 2012….
The dollar rally and the devaluation of the yuan is not a fluke and it most certainly is not a one-time event. The dollar declined against the yuan for 19 years during the same timing that saw gold decline from 1980 to 1999. The major low on an annual closing basis at 2013 and 2014 was an outside reversal…
Following China’s devaluation on Tuesday of the yuan, the U.S. dollar/Chinese yuan currency pair (USD/CNY) has surged, reaching as high as 6.4485 so far today (Wednesday). It has now reached the most overbought level on a weekly basis since 2001 (based on weekly 14-period Relative Strength Index (RSI) momentum indicator), and is extremely overbought based…
Money Morning Article of the Week by Michael E. Lewitt In South Florida, we call the dog days of summer the “mean season“, as vicious thunderstorms move over the Everglades every afternoon and attack the east coast with lightning strikes and blinding downpours. We keep our fingers crossed that the storms won’t morph hurricanes that can…
