The Canadian Dollar hit an 11-yr low against the U.S. Dollar joining the other G10 nations that are being pushed down by a strong USD. (Excluding the Japanese Yen which seems to be holding up against the dollar). ‘Monetary policy divergence’ is being felt across the board but the CAD seems to be the weakest…
■ U.S. equities lose momentum after initial positive reaction to liftoff ■ Fed promises gradual further rate hikes ■ S&P 500 loses 0.3% during week, after peaking +3% ■ Global markets see all out fight to safety towards end of week ■ JPY adds volatility on Bank of Japan statement for monetary expansion Following…
by John Dorfman, Dorfman Value Investments. The stock market ran in circles this year and is little changed as the year’s final days tick down. But there were some mighty gainers and desolate losers. Here are five of the year’s star performers and five of the goats. The winners … Among the 500 stocks in the…
Fundamental Forecast for British Pound: Neutral Inflation moved back above zero, but the Cable didn’t budge. A day later, the jobless rate fell but, again, the Cable shrugged off this positive data. Follow Sentiment in Real-Time to filter attractive trends for continuation potential. Data last week, on net, was pretty much positive for the UK and…
WTI crude has collapsed to cycle lows after the US oil rig count surged by 17, the largest jump in 5 months. The total rig count was unchanged as the surge in oil rigs was perfectly countered by the collapse in natural gas rigs. *U.S. GAS RIG COUNT DOWN 17 TO 168 , BAKER HUGHES SAYS…
EUR/USD The EUR/USD pair had a slightly negative week, completely wiping out the previous week. It appears that the 1.10 level will continue to bring in sellers, so I feel this point in time will more likely continue to bounce around between the 1.08 level on the bottom, and the 1.11 level on the top….
On Friday, the PMI Flash Services reading registered growth that fell sharply, not only well below the Econoday Consensus estimate of 56.1, but also substantially below the lowest estimate of 55.8. The services PMI is slowing sharply this month, to 53.7 vs 56.1 for the final November reading and vs 56.5 for the flash reading. This is…
(T2108 measures the percentage of stocks trading above their respective 40-day moving averages [DMAs]. It helps to identify extremes in market sentiment that are likely to reverse. To learn more about it, see my T2108 Resource Page. You can follow real-time T2108 commentary on twitter using the #T2108 hashtag. T2108-related trades and other trades are occasionally posted on…
Last week’s stock market had a Jekyll and Hyde feeling, setting the background for the two weeks ahead. We will have lighter volume and plenty of people taking vacation during the holiday-shortened weeks. With plenty of explaining to do and a new year ahead, we can expect: A Parade of Pontificating Pundits! Prior Theme Recap…
Speculative position adjustments in the currency futures were minimal in the immediate aftermath of the ECB’s December 3 meeting and US employment data the following day. However, activity dramatically increased in the days ahead of the FOMC meeting on December 16. In most Commitment of Traders reports the gross position adjustment of 10k or more…
