In this week’s Commitments of Traders Report, speculators continue to sell positions inversely correlated to the US dollar. As a proportion of total interest, the most meaningful declines this week were in the Swiss franc, British pound, and gold net positions. Other assets such as the euro, Canadian dollar, Australian dollar and crude oil also…
THE MONOPOLIZATION OF AMERICA: The Biggest Economic Problem You’re Hearing Almost Nothing About Not long ago I visited some farmers in Missouri whose profits are disappearing. Why? Monsanto alone owns the key genetic traits to more than 90 percent of the soybeans planted by farmers in the United States, and 80 percent of the corn….
AUD/USD remains in the downtrend from 0.7813, the bounce from 0.7472 is likely consolidation for the downtrend. Range treading between 0.7472 and 0.7590 would likely be seen in a couple of days. As long as 0.7590 resistance holds, the downtrend could be expected to resume and another fall towards 0.7300 is possible after the consolidation….
With the Iran Deal looking increasingly fragile, front-month WTI futures have just traded above $70 for the first time since Nov 2014. $70 just happens to be the 50% retracement from the Aug 2013 highs to the Feb 2016 lows… As OilPrice.com’s Tsvetana Paraskova notes, US President Donald Trump has another week to decide whether to waive…
If you think buying the Nasdaq 100 index is a diversified bet on technology, you are mistaken. Five stocks Swallow Up More of the Nasdaq Than Ever Before. The FAANG block of Facebook Inc., Amazon.com Inc., Apple Inc., Netflix Inc. and Google now account for over 27 percent of the NASDAQ Composite Index, a new all-time…
USD/JPY (black) vs. Gold price inverted (red)…nice correlation of late…
EUR/USD: The pair closed lower the past week with more decline envisaged. However, a move higher on correction is envisaged. On the upside, resistance comes in at 1.2000 level with a cut through here opening the door for more upside towards the 1.2050 level. Further up, resistance lies at the 1.2100 level where a break…
Today we’re taking a look at EOS, one of the only cryptocurrencies in top 10 that saw solid gains in April. But after reaching an all-time high price of nearly $23 end of April, its bullish momentum seems to have cooled down. First, let’s talk about what was behind the gains, and then see what…
Asian shares are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.5% while the Hang Seng is up 0.6%. The Shanghai Composite is trading up by 1.2%. US stocks closed sharply higher Friday as Wall Street shrugged off lackluster numbers in the government’s monthly jobs report while shares of Apple hit an all-time…
In the Currency Strength table, the JPY was the strongest currency while the CHF was the weakest. There were some significant changes last month with the USD gaining 7 points and the CAD gaining 3 points while the GBP lost 4 points, the CHF 3 points and the NZD 2 points. When looking at the…
