The euro is the second safe haven currency in line. When things get serious, the yen is in high demand at first, and the euro follows. This was enough to send EUR/USD above resistance at 1.1340 to a high of 1.1354, but from there we had it slide back to range: 1.1215 to 1.1340. Is this the first…
USD/CHF: Having continued to maintain its downside pressure selling off on Thursday, USD/CHF targets support at the 0.9600 zone. This is coming on the back of its intra day price reversal on Wednesday. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the…
Has a Bull Market Begun? Gold stocks have risen so much and so fast recently that a pullback, resp. consolidation either has begun already or is likely to begin soon. We have therefore decided to post a brief update on the situation in order to discuss what might happen next. Back in late November, we made…
<< Read Part 1: It Was Never About Oil The entire point of leveraged positions is the margin of safety. That is true on both sides of that equation, as for the provider and the borrower/user. In the most famous examples of collapse, from AIG to LTCM losses were never really the issue. None of…
Many people are not particularly happy with Federal Reserve Chairwoman Janet Yellen and her recent take on the U.S. economy. The miniscule rate hike implemented in December was a mere drop in the bucket according to some analysts and many lawmakers are concerned with the chair’s future moves. At a meeting before the House Financial…
One thing that became abundantly clear in the wake of the financial crisis was that everything – and we do mean everything – was being manipulated by Wall Street’s biggest and most systemically important financial institutions. First we learned that the most important benchmark rate on the planet was nothing more than a tool submitters used to…
With record inventories nearing full capacity, Phillips 66 dumped crude in unusual front-month deals. For its efforts, Phillips 66 sold crude at spreads yielding negative $2.50 and $2.75 a barrel. Please consider U.S. Refiner Phillips 66 dumps Cushing Crude, Traders Spy Output Cuts. U.S. refiner Phillips 66 dumped crude for immediate delivery in Cushing, Oklahoma on Wednesday, sparking…
Yesterday’s Trading: Yesterday was a volatile one. The euro/dollar first dropped to 1.1237 due to growth of the European stock indices. Then at 15:30 EET the euro renewed its minimum in response to the publication of the text of Fed chief Yellen’s report. The text of the report was published an hour and a half…
U.S. Oil Production is starting to roll over, fundamentals are changing in the oil market. Expect a rather large short squeeze in the oil market over the next couple of weeks. (Video length 00:10:48)
Gold closed higher today suggesting that we should press higher probably into Friday. Our opening pivot point in 1207.57 which is still well above the closing warning that the upside is still in play. A closing ABOVE that for the 11th will signal we should press higher into Friday. A closing beanth that number warns…
