It’s time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium were down less than a penny each from last week. According to GasBuddy.com, California has the highest average price for Regular at $3.51 and San Francisco, CA is the most expensive city, averaging…
Asian shares are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 1.08% while the Hang Seng is up 0.81%. The Shanghai Composite is trading up by 0.60%. Wall Street’s major indices rose on Monday as a softer stance by US policymakers on China tariffs powered a rebound from last week’s selloff. But stocks…
Bitcoin plummeted more than six percent in a two-hour period on Monday, hitting a low of $6,646.07 and remaining firmly under the $7,000 mark during Tuesday’s Asian trading session. Bitcoin prices are down over 52 percent since the start of 2018 and over 22 percent in the past month. The downturn has erased more than…
I’ve seen the argument that China’s tariffs on soybeans will have no effect because the soybeans will be relabeled so that US soybeans go to Europe, and soybeans that previously went to Europe go to China, evading Chinese tariffs on US soybeans. John Cochrane makes this point. This seems to have surface appeal in a world…
For a Monday it’s been remarkably lively and I wanted to find a chart that not only reflected this, but also captured the indecision and uncertainty that lies behind the current price action. And the chart that best reflects this mood is the daily aud/chf, a currency pair where on one side we have a…
President Xi Jinping pledges reform including greater access to China’s manufacturing and financial sectors. In stark contrast to Trump’s bullying remarks, China’s Xi Promises to Ease Foreign Access. In a speech that officials had billed as a major address, Mr. Xi said Tuesday that plans are under way to accelerate access to the insurance sector, expand…
Tuesday’s stock picks Take a look at three trading ideas to prep you for the next trading session. Long Micron Technology (MU) Long RSP Permian (RSPP) Short Agilent Technologies (A)
China’s Shanghai Index remains firmly ensconced in a large sideways consolidation zone in between major resistance at 3368 and major support at 3000, as shown on the following monthly, weekly and daily charts. The momentum indicator is below zero on the monthly and weekly timeframes, and is just above it on the daily. In the short term, watch for a hold above zero on any rally that may continue from tonight’s action following on from President Xi’s speech…
GBP/USD 4 hour The GBP/USD bullish bounce at support (blue) has created a new bullish breakout above the resistance trend lines (dotted red). This could be part of a wave 5 (green) pattern that could create one more higher high in this uptrend. A break below the support zone could indicate the end of the…
NEO, was once again the winner of the top 10 cryptocurrencies, even though it erased most of its earlier gains by the end of Monday’s trading day. Also known as Ethereum of China, NEO aims to contribute to a smart economy. They are looking to not only use the blockchain for fast transactions but also…
