The US dollar pulled back following yesterday’s slightly softer than expected CPI report and this likely marks the beginning of a new phase, with the dollar moving lower. Investors have learned over the past two weeks that neither wages nor consumer prices are accelerating. There is little reason in the recent string of data or official…
Week 18 of 2018 shows same week total rail traffic (from same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. Analyst Opinion of the Rail Data We review this data set to understand the economy. If coal and grain are removed from the analysis for carloads, this week it expanded…
Overnight Markets And News Jun E-mini S&Ps (ESM18 +0.23%) this morning are up +0.23% at a new 1-1/2 month high on expectations for the Fed to maintain their slow pace to interest rate hikes after Thursday’s CPI data came in below expectations. Energy stocks are stronger with Jun WTI crude oil (CLM18 +0.04%) up +0.14% as Middle…
Since last September, the yield on the U.S. 10-Year Treasury has steadily increased from 2.05%, eventually surpassing the important psychological level of 3%.1 While we’ve written recently about the implications of rising rates for fixed income investors, we believe it is important to understand the consequences this has for equity investors too. Rising interest rate periods are often associated with a…
NVIDIA earnings report last night beat the Street by $.40 and guided higher than the Street in both revenues and earnings. So why’s the stock down? We’ll review that and how the CEO hinted that their guidance is way too conservative.NVIDIA Guide NVIDIA guided revenues to $3.1B for the July quarter which was higher than the Street…
Oil prices steadied near three-and-a-half year highs as the prospect of new U.S. sanctions on Iran tightened the outlook for the Middle East supply at a time when global crude production is only just keeping pace with rising demand. Commodity currencies strengthen. We have lowered USD/CAD sell order and opened AUD/USD long trade. This is…
Following several days of torrid newsflow, which markets digested without a glitch and continued their recent grind higher, the overnight session has been relatively quiet, and while trading was subdued post the European open, a burst of buying was observed in generally illiquid conditions as US traders walked in, sending S&P futures sharply to session…
On account of the rising dollar prices, the Indian rupee has been trending down since the beginning of 2018. On May 7, the currency went down to its lowest in 15 months and was trading at 67.13 against the dollar. The problems of demonetization and GST, which caused a slowdown in the Indian economy in…
WTI Crude Oil The WTI Crude Oil market went back and forth during the trading session on Thursday, as we continue to see a lot of volatility when it comes to the crude oil markets. The $72 level above is short-term resistance, but I think the hammer that sits at the $70 level that extends…
USD index looks overall bearish since the start of 2017, but current recovery from this year low can differ. In general, we are observing an unfolding impulsive five-wave bearish price movement of a higher degree that still has to develop two more waves. An impulse is a five-wave movement that indicates the direction of the…
