The Philly Fed prices paid index jumped in April. 59% of firms reported paying more for inputs, up from 44% in March. The April 2018 Philadelphia Fed Manufacturing Business Outlook Survey shows continued expansion but input prices are rising far faster than prices received for manufactured goods. I have not paid much attention to the regional Fed…
Jerry Jung’s passion for reforming the nation’s ethanol laws started when he noticed that the monarch butterflies had vanished from his hobby farm north of Clare, Michigan. After doing a bit of research, he learned that the monarch population had plummeted in recent years. A key reason for the declining population is that large swaths of the…
The latest Conference Board Leading Economic Index (LEI) for March increased to 109.0 from 108.7 in February. The Coincident Economic Index (CEI) came in at 103.4, up from the previous month. The Conference Board LEI for the U.S. increased again in March. Positive contributions from the yield spread, the ISM® new orders index and expectations for business…
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GBP/USD PRESERVES BEARISH SEQUENCE AS U.K. RETAIL SALES NARROWS IN MARCH. BANK OF ENGLAND (BOE) RHETORIC IN FOCUS. GBP/USD slipped to a fresh weekly low (1.4161) as updates to the U.K. Retail Sales report showed a 0.5% decline in March, and the pair remains at risk of facing a larger pullback as it extends…
CL_F Elliott Wave short-term view suggests that the decline to 61.80 on 4/06/2018 low ended Intermediate wave (2). Above from there, Intermediate wave (3) remains in progress as Zigzag Elliott Wave structure. Looking to extend higher towards 70.43-72.47 area at a minimum. Up from 61.80 low, the instrument made a strong rally higher. And ended…
Trump arouses enormous emotions. His policies are usually widely debated. However, the recent decision passed relatively unnoticed. Bad! It’s really strange given its potential impact on the financial markets, including precious metals. So, what new is coming from Washington? Richard Clarida, The New Vice Chair On Monday, President Trump announced that he would nominate Richard…
My Swing Trading Approach I am not opposed to adding more trades to the portfolio today, but the market needs to be favorable for it to happen. We could see a pullback, and I don’t want to buy ahead of that, even if it is likely to be just temporary. Indicators VIX – Volatility bounced some…
Oil prices are now as high as they have been for three years. At this writing, Brent is $74.14 per barrel and West Texas Intermediate is at $68.76. These prices aren’t really very high, if a person looks at the situation from a longer term point of view than the last three years. There is…
Jobless claims dropped a “whopping” 1K in the latest week and missed expectations by a margin of just 2K. In other words, little changed in the overall trend of claims. For the week, first-time claims came in at 232K. This is the 28th straight week that claims have been at or below 250K, and extends…
