For those wondering if the CBR’s intervention in the Russian FX market with its shocking emergency rate hike to 17% overnight calmed things, the answer is yes… for about two minutes. The USDRUB indeed tumbled nearly 10% to 59 and then promptly blew right back out, the Ruble crashing in panic selling and seemingly without any CBR market…
Just FYI, a little exercise on some financial topics. By Google Trends at least, the stage is setting up for a contrarian, counter-trend bounce in precious metals and commodities in 2015. The stock market data is interesting as well in that nobody has really taken an interest in stocks throughout the massive bull market; though…
EUR/USD Signal Update Yesterday’s signals were not triggered and expired. Today’s EUR/USD Signals Risk 0.75% Trades must be made before 5pm London time. Short Trade 1 Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2503. Place the stop loss 1 pip above the local swing high. Move…
Samsung (SSNLF) has discussed a deal with a payments startup that would help the smartphone maker unveil a wireless mobile payments system in 2015 to rival Apple, according to multiple sources. The technology would allow people with certain Samsung phones to pay in the vast majority of brick-and-mortar stores by waving their phones instead of swiping…
The US dollar’s recent losses against the euro and yen have been extended. Oil prices continue to swoon, and the price of Brent oil has fallen below $60, and WTI approached $54. While most emerging market currencies are higher today, a notable exception is the Russian ruble. Very early Tuesday in Moscow, the central bank hiked the…
Last week I flew into Moscow, arriving at 4:30 p.m. on Dec. 8. It gets dark in Moscow around that time, and the sun doesn’t rise until about 10 a.m. at this time of the year — the so-called Black Days versus White Nights. For anyone used to life closer to the equator, this is…
Wall Street saw the biggest stock swings in two months yesterday as oil volatility dragged the Standard & Poor’s 500 Index further from the record it reached less than two weeks ago. The S&P 500 rose 0.8 percent in the first 30 minutes of trading then sank 1 percent, tracing a 36-point arc that was…
(Photo Credit: Maurizio Pesce) Tuesday – Darden Restaurants Darden Restaurants (DRI) which owns several casual dining chains including its crown jewel Olive Garden, is set to report 3rd quarter earnings on Tuesday, December 16 before the opening bell. Promotional deals including Olive Garden’s eyebrow raising 30 day unlimited pasta pass are expected to drive sales higher…
Microsoft has been joined by various Tech companies such as Apple, Amazon, Cisco, eBay and Verizon along with media companies such as ABC, CNN, Fox News and the Guardian, the largest business organizations, such as the US Chamber of Commerce and the National Association of Manufacturers, as well as privacy groups and leading computer scientists who have all filed…
by L. Randall Wray Dean Baker, everyone’s favorite progressive economist (mine, too), has an interesting take on our unemployment problem. Give more paid vacations. The idea is that if all the employed work less, employers will need to hire the unemployed to produce what the already employed won’t be producing while sunning themselves on Florida’s beaches….
