On April 10th I wrote an analysis calling for a possible reversal in cryptocurrencies and warning that it was not the time for someone to be bearish. Our view was confirmed and the four major cryptos we are monitoring reversed higher with a potential of higher levels still in place. BTC/USD Bitcoin Bitcoin has broken above the…
After opening the day in the red, share markets in India witnessed choppy trading activity throughout the day and are presently below the dotted line. Sectoral indices are trading mixed with stocks in the PSU sector and stocks in the realty sector trading in red. While stocks in the consumer durables sector are trading in green. The BSE Sensex is down by 55 points (down…
Video Length: 00:10:41 We are off to a strong start in the Q1 earnings season, with both the growth pace as well as the proportion of positive surprises tracking above even the very strong performance we had seen in the preceding earnings season. With Tech sector earnings taking the spotlight in the coming days, it…
WTI Crude Oil The WTI Crude Oil market initially rallied on Thursday but found enough resistance just below the $69.50 level to turn around and form a shooting star for the day. I think that the market will continue to find buyers on pullbacks, and that pullback is probably coming now. A breakdown below the…
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,…
