Following futures positions of non-commercials are as of April 10, 2018. 10-year note: Currently net short 330.6k, down 44.7k. Annual core CPI rose stronger-than-expected 2.12 percent in March.This was the first year-over-year reading with a two handle in a year. Nonetheless, core PCE – the Fed’s favorite measure of consumer inflation – is not as…
Indian stock markets rose for a seventh straight session on Friday, their longest winning streak since November 2017. The gains came on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank. Sentiment was also upbeat after retail inflation eased to a five-month low in March, supporting views that monetary policy…
This weekend millions of Americans and/or their accountants are preparing to file income tax returns. Tax day is an annual event as significant as the Fourth of July – though far less fun. Photo: Getty Images My friends outside the US – and I have many – observe our ordeal with a combination of amusement…
After the airstrikes on Syria early on Saturday, the situation seems contained. There are growing chances of a relief rally, positive for the USD/JPY. For the USD/CAD, the event is a double-edged sword, but the Canadian Dollar could come out on top. Early on Saturday morning, US President Donald Trump announced a coordinated missile and airstrike…
Markets had started Friday above the marked consolidations I had drawn on the charts but subsequently ended the week still inside these trading ranges. As a two-day pattern, Friday’s close finished as a bearish engulfing pattern across markets which means I’ll be looking for a break of newly drawn ascending support (of the last 8…
Caterpillar CAT has seen its stock price sink more than 11% over the last 12 weeks. The construction and mining equipment power’s shares have tried to recover recently, but it might take strong first quarter financial results for CAT to get back on track amid the current market volatility. Caterpillar posted pretty substantial top and bottom…
Talking Points: Chinese trade data came in broadly stronger However market reaction was muted The trade spat with Washington may have rendered these numbers too historic to be of interest The Australian Dollar showed little reaction to a broadly stronger set of Chinese trader figures Friday, perhaps because the ongoing tariff spat between Washington and Beijing has…
It’s worth noting that the aim of the #ChartStorm isn’t necessarily to arrive at a certain view but to highlight charts and themes worth paying attention to. So here’s the another S&P 500 #ChartStorm write-up. 1. The Euphoriameter: First up is a look at what’s down and that’s the Euphoriameter, it has fallen 0.31 pts off the…
Goldman Sachs analyst Eugene King upgraded BHP Billiton (BHP) to Buy with an increased price target of A$35.50. The analyst expects BHP’s cash conversion to reverse in the second half of 2018 following a disappointing first half of the year. BHP has a number of upcoming catalysts, including the divestment of its onshore assets, to…
The US dollar has fallen during most of the week against the Canadian dollar, but towards the end of the week, we did start to see a bit of buying. I think that the 1.25 level will cause a bit of support, but more importantly we have a major uptrend line underneath that should continue…
