In the last five years, the Australian economy has been struggling with low mining investment, weak wage growth, and low inflation rate. According to the Governor of the Reserve Bank of Australia, Philip Lowe, the economy is in a state of transition and gradually diversifying from being mining dependent to something more normal. The drop in mining…
EUR/USD 4 hour EUR/USD is retesting the support trend lines (blue/green). A break below the support could indicate a failure to continue the uptrend and makes an ABC (orange) more likely than a 123 (pink) pattern, which in turn could mean that the wave 4 (light purple) is still active. 1 hour The EUR/USD potential…
Hang Seng futures exploded over 5% higher as after-hours trading began last night, then crashed back to unchanged as the underlying cash index hit its highest since Nov 2007 on the heels of a surge to new record highs for Chinese tech giant Tencent – which is now larger than Facebook by market cap. Contracts for November…
Gold: The commodity remains weak and vulnerable to the downside after it reversed its Friday gains on Monday. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00…
The common currency Euro steadied finally after recording its largest decline in about a month yesterday. FX traders have apparently shrugged off the political deadlock in Germany, for the time being at least, and likely only if the fallout doesn’t impact Angela Merkel. Analysts say that markets are instead keeping their focus on the positive…
Josh Brown recently wrote a piece, “How to Raise 20 Billion Dollarz,” that takes on alternative investments.1 Brown documented the rise and fall of an alternative strategy fund that crushed it during the 2008–2009 down market but has been a real dog during the straight-up market we’ve experienced ever since. This alternative strategy fund saw round-trip flows…
Everyday it’s something else. Bitcoin suddenly dove as much as 5.4% overnight after Tether said this in a statement: Yesterday, we discovered that funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker. Tether integrators must take immediate action, as discussed below, to prevent further ecosystem disruption. $30,950,010 USDT was removed from…
Lowe’s Companies Inc. (LOW – Free Report), one of the largest home improvement retailers, came out with third-quarter fiscal 2017 results, wherein earnings of $1.05 per share surpassed the Zacks Consensus Estimate of $1.02 and also jumped 15.9% year over year. Management continues to expect earnings in the range of $4.20 to $4.30 per share for fiscal 2017….
– Gold versus Bitcoin: The pro-gold argument takes shape – Why cryptocurrencies will not replace gold as a store of value – Similarities between crypto and gold but that does not make them substitutes – Gold remains a highly liquid market, cryptocurrencies continue to be fragmented and difficult to spend – Bitcoin does not make it…
It looks like oil is consolidating for another leg up as it shakes off political uncertainty in Germany, one of the reasons we pulled back yesterday, and instead on talk of another big drop in supply in the Cushing Oklahoma. Market chatter has the NYMEX delivery point falling at least 1 million barrels and some…
