With interest rates at a dizzying 40% and inflation at 25.6%, one might say that the Argentinian economy is in a high fever as the nation’s leadership try to impose market reforms, cut government spending and end protectionism. Whilst unpopular at home, the measures are naturally meeting resistance at home. It is understood that Argentina…
On Thursday the BoE will publish the MPC’s policy decision, the May Inflation Report and the minutes of the MPC meeting due to end on 9 May. We expect a majority of the nine-member MPC to vote in favor of maintaining the bank rate at 0.50%, with Ian McCafferty and Michael Saunders likely dissenting in…
Gold not far from confirming a bearish triple top. pricechart: INVESTING.com
WTI Crude Oil The WTI market was very volatile during the trading session on Tuesday, as the markets prepared for Donald Trump to leave the Iranian deal. Instead of breaking the deal apart completely, the United States has offered more sanctions, so in a sense it was probably the “least bad” scenario for crude oil….
With Turkish capital markets in free fall, the Turkish lira crashing to record lows… … and one-year TRY swap spreads hitting 17%, the highest since the days just after Lehman’s failure and AIG’s bailout… … and chaos increasingly gripping the Turkish economy as the central bank is barred from doing the one thing that is…
The Wendy’s Company (WEN – Free Report) reported better-than-expected results in the first quarter of 2018. Adjusted earnings of 11 cents surpassed the Zacks Consensus Estimate of 10 cents by 10%. The bottom line also increased 37.5% year over year, primarily favored by the positive effect of lower tax rate related to share-based payments along with Tax Cuts…
The US dollar is broadly higher as the 10-year yield probes above 3.0%. Disappointing French industrial production and manufacturing data for March provided additional incentive, as if it were needed, to extend the euro’s losses. The euro dipped below $1.1825. The single currency is off a cent this week after falling nearly two last week. A…
Gold prices ended Tuesday’s session nearly unchanged after a volatile day that saw prices swing between gains and losses. XAU/USD initially edged lower to the $1308-$1306 zone before finding enough support to reverse its course. The market marched towards the technical resistance at $1320 after President Donald Trump said the U.S. was exiting the Iranian…
I try to stay away from making predictions. I don’t see the upside. If I am right, then yay! But after the fact, predictions often look obvious (hindsight bias) and it is hard to get much credit for them. By the same token, if I am wrong then the ex-post facto viewer shakes his head sadly at…
USD/CAD broke above 1.2917 resistance and extended its upside movement from 1.2526 to as high as 1.2997. Further rise is still possible after a minor consolidation and next target would be at 1.3050 area. Near-term support is at 1.2870, a breakdown below this level would suggest that the upside movement is complete, then deeper decline…
