The cryptocurrency phenomenon has exploded in 2017 — and it’s one I’m sure no one saw coming. At this point, Bitcoin and other cryptocurrencies have surged in value this year, hitting levels that have handed random people who owned them for years riches beyond their wildest dreams. The envy, and confusion, around cryptocurrencies has sparked what is called cryptomania….
The BEA’s Personal Income and Outlays report for November was published this morning by the Bureau of Economic Analysis. The latest Headline PCE price index was up 0.23% month-over-month (MoM) and is up 1.76% year-over-year (YoY). The latest Core PCE index (less Food and Energy) came in at 0.08% MoM and 1.48% YoY. Core PCE remains below…
As expected, the biggest news this week was the passage of the tax reform package in the United States. On Wednesday, the senate passed the sweeping tax reform package that makes big promises to corporations and individuals. As soon as they passed the bill, companies started making promises. AT&T promised to pay a bonus of $1,000 to…
According to a an eMarketer report published earlier this year, nearly 38.9 million viewers in the US would have streamed a video program at least once a month this year using Roku. The number of users for Roku are estimated to have grown 19% over the year this year. Alphabet’s Chromecast and Amazon’s Fire TV are close…
AUDUSD broke above 0.7694 resistance, indicating that the uptrend from 0.7501 has resumed. Further rise could be expected and next target would be at 0.7800 area. Support levels are at 0.7670 and 0.7635, only break below these levels could bring price back to 0.7580 area.
This week, the U.S. Congress approved the tax bill. What does it mean for the gold market? So it finally happened. After months of struggle, the U.S. lawmakers passed a tax reform on Wednesday. Now, Trump has to sign it into law. What’s in the final version? The bill maintains current seven tax brackets for…
Orders of durable goods rose by 1.3% in November, lower than 2% expected. Looking at core orders, we already have an outright drop of 0.1% against a rise that was expected. A deeper dive into the core of the core points to a drop of 0.1% as well. Sales of durable goods feed into GDP…
The New Zealand dollar has been very resilient in the face of mostly weaker data. Dairy prices dropped by the largest amount in a year, the trade deficit widened while Q3 GDP growth slowed. Although investors were relieved that GDP did not contract as much as it could have given the recent weakness in…
Earlier we discussed that US personal savings tumbled to the lowest since 2007, and now we can also conclude that one of the things Americans splurged on last month was New Homes, because according to the Census on Friday morning, new home sales in November soared by a near-record 109K to 733,000 from a downward revised 624,000 in…
How you choose to spend or invest your money can have an impact on your net worth. Many of you are familiar with the net worth equation which is Assets – Liabilities = Net Worth. In other words, what you own, minus what you owe, equals what’s yours. However, what is conventional wisdom isn’t always…
