In the past month, the EUR/GBP pair fell from 0.8797 to a low of 0.8619. The pair’s fall was attributed to the expectations that the UK inflation would force the BOE to start an accelerated tightening process. However, on Wednesday, things changed after the Office of National Statistics released the CPI numbers. The numbers missed…
Gold prices fell $4.02 an ounce on Thursday, ending a four-day streak of gains, as geopolitical tensions eased and the dollar strengthened on the back of solid U.S. economic data. XAU/USD initially tested the resistance at $1354, but it was unable to pass through. As a result, prices broke below $1347 and visited the support…
The time period between spikes of inflation angst seems to be shortening. I am not sure yet about the amplitude of those spikes of angst, but the concern seems to be quickening. This is not without reason as it seems that concerning headlines are occurring with more frequency. This week the Bloomberg Commodity Index again challenged the…
Yesterday for the first time in over a week, HKD moved. That’s not unsurprising, as we should expect that nothing goes in a straight line – even devaluation of this kind. The issue is more about why it might have moved, or what it cost to move it. The Hong Kong Monetary Authority (HKMA) had…
I like long bonds. I am not saying that I like them as an investment. I like them because they tell me about the economy. Though I argued to the Obama Administration that they should issue Fifties, Centuries and Perpetuals, the Thirty-year bond remains the longest bond issued.I think its yield tells us a lot about the…
Fed economists admit the obvious “Tariffs likely to kill jobs”. On occasion, Fed economists get things correct even if the voting members get things backward. For example, New York Fed economists ask and answer the question: Will New Steel Tariffs Protect U.S. Jobs? Consider this a guest post courtesy of New York Fed researchers Mary Amiti,…
Discretionary outlook based on charts If Bitcoin breaks above its 50sma, next target is $10k. Otherwise still bearish. Ethereum has broken out above its 50sma. Next resistance at $640. Bitcoin Cash has broken out above its 50sma. Next resistance at $1200 (100sma). Ripple has broken out above its 50sma. Next resistance at $1.1 2:46 am. Bitcoin…
The outlook for US monetary policy was the central object of speculation across financial markets Thursday. A fiercely hawkish speech from typically dovish Fed Governor Lael Brainard stoked an upshift in priced-in 2019 rate hike bets while the yield curve steepened, with the spread between rates on 10- and 2-year Treasury bonds rising by the most in…
USDCAD’s bounce from 1.2526 extended to as high as 1.2675, facing the resistance of the top trend line of the price channel on the 4-hour chart. A clear break above the channel resistance would indicate that the downtrend from 1.3124 had completed at 1.2526 already, then further rise to 1.2760 area could be seen. On…
Friday’s swing-trades: Long Ferrari (RACE) Long Fluor (FLR) Short BlackBerry (BB)
