The EU is poised to retaliate against Trump. The Financial Times editorial board endorses the idea. The Financial Times reports EU Warns of $300 Billion Hit to US Over Car Import Tariffs. The figure roughly corresponds to the amount of EU imports of autos and parts. The document, which the FT did not post or link…
Even with the recent “pop” in $BTC prices, I wanted to share a few bearish charts. I’ve been yammering on about cryptos more than is necessary, I suspect (I’ve never owned a single one), but as a chartist I’ve been captivated at all the right triangles showing up, as with Bitcoin: In some cases, the…
Despite Thursday’s bounce and Friday’s half-hearted effort to follow through on that move, stocks just logged their second consecutive losing week. Indeed, Friday’s failed follow-through is even more alarming, in that the bulls had their chance to get things going again, but ultimately yielded to the bears. There are still some technical support levels…
The Trump Tariff plans have an Achilles’ Heel. We know that there are basic weaknesses that can be found in all tariff plans. For example, the consumer in the US is very weak, tariffs have failed in history, etc. But the real weakness of the plans for our time is the global supply chain. As…
As we enter the last half of the year, we should take the measure of how the first half of 2018 stacks up against forecasts made in January. Readers may well recall that the major forecasting groups anticipated relatively strong economic growth for 2018. The IMF called for world GDP to grow at 3.9%, 0.2%…
The start of July and the summer heat wave comes between a week that is caught with the US Independence Day holiday and the World Cup. Most investors logically want to go home and cool off, the noisemakers are hard at work. In fact, July will be anything but a vacation for those watching geopolitics….
As the Trump administration seeks to resuscitate the moribund American coal industry, it has decided to invoke “national security” as the justification for a plan to subsidize coal-fired power plants. Three things are notable about the administration’s proposal. First, invoking “national security” has become a favored tool for getting around existing regulations, precedents and the Constitution….
USDCAD broke below 1.3180 support, suggesting that the upside movement from 1.2526 had completed at 1.3385 already. A further decline would likely be seen in a couple of weeks and the next target would be at the 1.2850 area. Below this level it would aim the bottom of the price channel on the daily chart….
