Despite an inflation spike in Canada, Bank of Canada Governor Stephen Poloz says “Rate hikes Aren’t Mechanical.” Bloomberg reports Poloz Says Canadian Inflation Spike Doesn’t Violate 2% Target. Bank of Canada Governor Stephen Poloz said he’s not worried about inflation temporarily rising above the 2 percent target this year, and the acceleration by itself isn’t sufficient…
It was an interesting week in the precious metals complex. There appeared to be the start of a short squeeze in Silver (hedge funds were heavily short) but it ceased at important resistance. Meanwhile, Gold closed the week on a weak note, losing $1340-$1350. The gold stocks, like Silver closed the week below technical resistance….
Asian share markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.3% while the Hang Seng is down 0.2%. The Shanghai Composite is trading down by 0.1%. US stocks dropped on Friday as a decline in Apple pushed the technology sector lower. A rise in interest rates also kept a lid on equities….
The 10% Solution Last week, I asked you to think back to last October. Let’s try that exercise again, with slightly different parameters. Imagine you or someone you know had $100,000 to put to work, but was risk averse. In a worst-case scenario, such as a major market correction, they were unwilling to risk a…
IOTA is rapidly approaching our key resistance level when traded versus the USD. While the majority of cryptocurrencies appear to have entered a new bullish market sentiment, IOTA’s recovery speed is among the faster ones. This has a lot to do with the company ’s projects, partnerships, and vision. Recent Developments In a Tweet on…
Last week stocks tried to move into a bullish phase by moving over the 50-day moving average, but ran into some head winds with rising rates, and a couple of sectors that turned upside down. Since the February lows, the 50-day moving average in the SPY and QQQ has proven to be an area from…
Friday’s selling confirmed the second shorting opportunity with support breakdowns across lead indices. The S&P closed with higher volume distribution on a breakdown of rising support. Relative performance remains weak although there are still ‘buy’ triggers for MACD and On-Balance-Volume. The Nasdaq did likewise, although the support break of the bearish wedge coincided with…
Looking at this week’s Commitments of Traders Report, the most notable changes include falling net positions in the Australian dollar and rising net positions in the British pound. Changes in other currencies and commodities were fairly limited. In general, speculators continue to buy the euro and the British pound, while betting against the US dollar,…
Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Fresenius (FSNUY) decided to terminate the company’s merger agreement with Akorn (AKRX), citing Akorn’s “failure to fulfill several closing conditions.” The company said in a statement, “Fresenius’ decision is based on, among other factors, material breaches of FDA data…
The Australian dollar tried to move to higher ground but collapsed after climbing above 0.78. Rising US yields boosted the greenback and the A$ could not match it. Will we see further falls? Here are the highlights of the week and an updated technical analysis for AUD/USD. The prices of aluminum and other metals shot up, helping…
