Here is the opening statement from the Department of Labor: In the week ending December 16, the advance figure for seasonally adjusted initial claims was 245,000, an increase of 20,000 from the previous week’s unrevised level of 225,000. The 4-week moving average was 236,000, an increase of 1,250 from the previous week’s unrevised average of…
Briefly: Intraday trade: Our Wednesday’s intraday trading outlook was neutral. It proved accurate because the S&P 500 lost 0.1% following the slightly higher opening of the trading session (+0.2%). The market fluctuates after its Friday-Monday rally. We still can see technical overbought conditions. However, there have been no confirmed negative signals so far. Therefore, we…
Good day traders! Crude oil is reversing lower, unfolding a new drop away from 58.20 level. This drop can suggest a completed three-wave rally within corrective leg D and a three-wave reversal to be in the making within final wave E as part of a bigger Elliott wave triangle. Support and a new turning point…
The US dollar is sometimes called the world’s “reserve currency,” which is true enough, but doesn’t actually capture the multiple ways in which firms and nations around the world make use of the US dollar. Moreover, these other issues can complicate how other nations are affected by changes in the foreign exchange value of the…
In the near future, purchases may prevail on the USD/CHF currency pair. Near the key support level of 0.98500, a number of classic patterns of the Price Action called Outside Bar and Pin Bar methods were formed, which indicate the growth of the USD/CHF quotes. At the moment, the price is testing around level of…
In the third and final estimate of Q3 GDP, the US economy eased back fractionally from last month’s “hot” 3.3% print, and as a result of a modest decline in Personal Consumption from 1.60% to 1.49% (in the GDP calculation) as well as net trade, the final GDP print came in at 3.2%, down slightly…
The US Dollar gained some momentum and edged up versus the Yen after the Bank of Japan dashed any belief that it would be throttling back from its QE program. Haruhiko Kuroda, the BOJ Governor, spoke after the BOJ made its policy announcement wherein it maintained rates at the current level. Kuroda maintained that his…
Who wants to talk about whether the GOP tax plan is priced into U.S. equity markets? Something tells us if we posed that question to a crowd of investors we’d end up with a room full of full pockets – i.e. no raised hands. (aside: that’s an allusion to a quote from one of the best cult…
The Third Estimate for Q3 GDP, to one decimal, came in at 3.2% (3.16% to two decimal places), an increase over 3.1% for the Q2 Third Estimate. Investing.com had a consensus of 3.3%. Here is the slightly abbreviated opening text from the Bureau of Economic Analysis news release: Real gross domestic product (GDP) increased at an annual…
With the passage of the Tax Cut And Jobs Act on Wednesday, I wanted to address a few of the questions and misinformation currently circulating about the impact of tax cuts on the U.S. economy. Over the last couple of months, I have been repeatedly asked why I am not “enthusiastic” about the “greatest tax reform” since the Reagan…
