Oil prices dropped on Monday morning, receding from last week’s 3 ½ year highs. Prices were pressured by a continued increase in U.S. drilling as well as Europe’s strong reaction against U.S. President Donald Trump’s expected sanctions against Iran. U.S. drillers added 10 rigs last week. At the current level of 844 rigs, the U.S….
Fundamental Forecast for EUR/USD: Neutral The Euro fell against five of the seven other major currencies, although EUR/USD nearly closed the week positive. The upcoming update to the April Eurozone CPI report could easily undermine EUR-crosses mid-week. The IG Client Sentiment Index has returned to a neutral view on EUR/USD after the pair’s late-week rebound. The Euro finished near the end of…
Kiwi fell to its lowest in 2018 after Governor Orr statement, Short NZD/USD? RBNZ has left rates unchanged at 1.75% as expected. Even though New Zealand has seen solid global and domestic growth, with the economy operating around full potential, RBNZ has revised forecast for GDP and Inflation downwards. Three dovish statements have led us…
Tesla: Short Squeeze Of The Century Tesla (TSLA) is often referred to as the “short of the century”. However, little credence is given to the possibility of Tesla becoming the short squeeze of the century instead. And despite being one of the best performing stocks in America over the last 8 years Tesla remains the…
The US dollar is sporting a softer profile against most of the major and emerging market currencies to start the new week. It already seemed to be tiring in the second half of last week. With today’s mild losses, Dollar Index is off for a fourth consecutive session, the longest losing streak in over a month….
Intraday over seven sessions, SPY rallied 5.4 percent. If not an outright reversal, at least a breather is the path of least resistance near term, creating an opportunity to earn a premium in options. The 1Q18 earnings season is nearly over. As of last Thursday, 91 percent of S&P 500 companies reported results. They…
Every New York stock exchange trading day I’m posting a daily dividend stock or fund review. I’ll share the three chief qualities of just one equity or fund that could be selected for a dividend stock portfolio I’ve named the Safari to Sweet Success. This week the portfolio I’m building (my Safari To Sweet Success…
Background Huaneng Renewables Corporation Limited (HNR) is a subsidiary of China Huaneng Group, China’s largest electric power producer, and is the largest producer of wind power in the country by revenue. It sells wind power directly to the grid operators, as well as in the market. It also sells solar power. Business Description HNR is…
Gold ended the week up $2.95 at $1317.93 an ounce, snapping a three-week losing streak, as a downside correction in the U.S. dollar index triggered some short-side profit taking. The dollar retreated after a tame U.S. inflation report bolstered views that the Federal Reserve may not have to be so aggressive on raising interest rates….
During March and April, a number of articles appeared at precious-metals-focused websites describing the silver market’s Commitments of Traders (COT) situation as extremely bullish. However, this unequivocally bullish interpretation overlooked aspects of the COT data that were bearish for silver. Taking all aspects of the data into consideration, my interpretation at the time (as presented…
