Yesterday was the first trading Day after Easter holiday in the US, and trading was thin with very low liquidity. While US stocks markets were open, European ones will open only today. Overnight, China and Japan closed modestly lower. In the US , stocks opened slightly higher after data showed consumer spending picked up…
The US dollar is not looking as strong as it used to be. The team at NAB analyzes: Here is their view, courtesy of eFXnews: Policy announcements from the ECB and the Fed in the last few weeks go some way to support the theory that G20 Central Bank governors came to a tacit agreement at their…
The Q4 earnings season is over and the numbers are in the bag. The GAAP numbers that is, not the non-GAAP garbage that lately everyone from Warren Buffett, to Factset, even to the SEC (and of course this site since 2013) has been bashing. We wonder if they will continue bashing the GAAP numbers once they learn what they are,…
As the indications of hitting a cyclical turn multiply against the steady and alarming negative trend baseline background, there is more clarity on how what looks like an unrelenting slowdown had not yet morphed into the traditional recession setting (the “V”). For the most part, it appears as if the business or corporate sector has…
The dollar kept losses to a minimum Monday following its first drop in seven days. Conflicting reports on the future of U.S. interest rates helped European equity-index futures increase while stocks in Asia dropped. The greenback faltered after its longest rally since January in anticipation of an announcement from Federal Reserve Chair Janet Yellen which…
EURUSD (1.118): EURUSD is looking to retrace the declines over the past week after forming a bullish engulfing pattern on the daily chart yesterday (28/03). Price action remains below the resistance level of 1.13 – 1.123, so the immediate upside remains capped near 1.123. A break above 1.123 could see a potential rally back to…
Today is the first day of all markets open after the Easter Holiday. Monday was particularly slow however price action and volatility should pick up as we head into the trading day. Evident is that the volatility in the SP500 index was 24% of its 10 day average, which indicates the lack of traders interest…
If a new financial crisis had already begun, we would expect to see corporate debt defaults skyrocket, and that is precisely what is happening. As you will see below, corporate defaults are currently at the highest level that we have seen since 2009. A wave of bankruptcies is sweeping the energy industry, but it isn’t…
The market started the week on the back foot, testing the 1208/5 support level, but weaker-than-expected economic data out of the United States helped gold recover initial losses and close above the 1221 level. The XAU/USD pair traded as high as $1223 an ounce after the Commerce Department’s report showed that personal spending rose only…
