GBP/USD 4 hour The GBP/USD is making a bullish bounce after failing to break below the support trend line (blue). The trend, however, remains bearish and the current rally could only be a retracement. Price action stays bearish as long as price remains below the resistance trend line (red) but a bullish break above the…
Global stocks and US equity futures are in the green, despite the dollar rebounding to session highs overnight, putting already nervous emerging markets on edge, while oil rising to a 3 year high above $70 is set to pressure corporate margins even more. In the otherwise quiet overnight session which saw yet another disappointing European…
The US dollar recovered from a softer tone in early Asia and is higher against nearly all the major and emerging market currencies as North American market prepare to start the new week. The news stream is light and investors remain on edge geopolitical concerns remain elevated. Oil prices are extending gains, and WTI is above…
Gold ended the week down $8.12 at $1314.59 an ounce, recording a third consecutive weekly loss, as the recent solid rally in the U.S. dollar index continued to curtail buying interest in the market. Also working against the safe-haven metal are the risk-on trading/investing attitudes in the world marketplace. The latest data from the Commodity…
Traditional Markets Friday’s Jobs report was a doozy. The good news is that the US unemployment rate dropped to 3.9%, its lowest reading in 18 years. The not so great news was that wage growth came in a full percentage point less than expected. As we discussed in Friday’s update, a weaker than expected wage growth figure is actually good…
Crude Oil is one of the most important commodity in the world. It powers everything that we use every day. Without oil, big agricultural producers would not be able to produce the food we eat in large scale. Local and international transport would be impossible. Crude oil is produced by a small group of countries,…
Starbucks (SBUX) announced it will form a global coffee alliance with Nestle (NSRGY) to “accelerate and grow the global reach of Starbucks brands in Consumer Packaged Goods and Food service.” It added, “With a shared commitment to ethical and sustainable sourcing of coffee, this alliance will transform, expand and elevate both the at-home and away-from-home…
China may release a softer trade data this week, short AUD/USD? Data shows slacks remain in US labor market despite drop in unemployment rate US unemployment rate has fallen below 4% for first time since Bill Clinton era. However, we do not expect Fed to alter its monetary policy for this new development. The jobless…
WTI Crude Oil The WTI Crude Oil market initially fell during the session on Friday, but then exploded to the upside, slamming into the $70 level. This is an area that should be resistive due to the large, round, psychological significance of the number, but also the previous resistance that we had seen for a…
The S&P 500 (Index: INX) saw some major intraday swings during the first week of May 2018, with the combination of Thursday, 3 May 2018 and Friday 4 May 2018 combining to take the index on the wildest ride of the week. Tracking each day’s closing value of the S&P 500, what we find is that…
