USD bullish tone remains unchanged today in a quiet market so far. View that the Fed will increase rates in September (50% chance) and relatively soft data out of EU (German PPI index fell by 1.4% in June compared to a year before) helped maintain the demand for the greenback at high levels. Strong USD…
The light news stream has spurred some position squaring by short-term momentum traders. This is giving the dollar a somewhat heavier tone, and weighing on European equity markets. European bonds and Treasuries are little changed, though slightly firmer. The general narrative of the dollar’s firmer tone is that the market feels more confident that the…
I have been stating all along that attempting to forecast gold in isolation is the equivalent of summoning a witch doctor for cancer. Everything in this world is connected. Civilization unfolds as a synergy of people coming together and the sum is greater than the individual parts. This too, is what government is tearing…
2015 so far was a choppy market for most stocks. Many stocks broke out however they failed. With that said … Palo Alto (PANW) and Sketchers (SKX) trended wonderfully. Combine fundamental and technical studies in order to succeed.
Capital controls imposed by the Greek government are taking a heavy toll on Greek businesses, according to a new report from Endeavour Greece. With over two-thirds of respondents reporting a “significant drop in revenues,” and 1 in 9 firms forced to suspend production due to shortages of raw materials (unable to buy due to capital controls), the…
The EUR/USD pair initially tried to rally during the course of the session on Monday, but as you can see pullback to form a bit of a shooting star. The shooting star at the bottom of the downtrend of course is a very negative sign. The 1.08 level is supportive, and if we can break…
Wanton destruction in the precious metals sector There is almost nothing in the markets to move instruments as far as economic announcements are concerned, so we believe that technical setups will be the only way to play markets during the session on Tuesday. Silver markets look interesting There was a massive move to the downside…
In the past month, the iShares MSCI Sweden (NYSEArca:EWD) ETF has fallen almost 7 percent from 34.75 to 32.37. The main reason for such a significant drop was the significant contagion of a prior “No” vote by Greece which triggered significant currency uncertainty as a weaker euro would result in a declining level of exports for Sweden. However, it…
If pouring billions of dollars into outrageous “look at me” buildings isn’t tempting the gods, what is it? When banks build new gleaming headquarters, that generally marks the top of the bank’s fortunes. There appears to be some sort of hubris in constructing a monumental new headquarters that shouts “we’re rich beyond all conception” that angers…
In what seems like a strange turn of events, the Greek government found the money to repay the roughly 2 billion euros ($2.2 billion) it owed to the International Monetary (IMF). “Greece is therefore no longer in arrears to the IMF,” said Gerry Rice, director of communications at the IMF in a statement on Monday….
