The price action in oil has been curious over the past few weeks. For those that watch the market, you’ll have noticed somewhat less volatility recently than what we’ve seen this year. Weekly inventory numbers have has less of an immediate price impact and OPEC statements don’t really impact the market. It seems that we’ve […]Bitcoin hits record highs on buoyant buying
All aboard the Bitcoin rocket ship! Bitcoin hit a new all-time high today as it popped through the $5000 level, rallying all the way up to $5388 on relentless buying. With non resistance above it’s previous high of $5013, there was no stopping the world’s largest cryptocurrency. BTC is up over 19% this week, and […]US Non-Farm Payrolls May Disappoint, But Don’t Expect That To Change The Rate Path
The biggest US data point of the month, Non-Farm Payrolls, comes in at Friday 8.30am EST. This month’s data will be hurricane effected, so consensus is for a low headline number. Considering how strong the PMI’s were this week, a poor NFP can be shrugged off as transitory and the Fed can stick with the […]Bear market predictions are exciting, but don’t believe all you hear.
Commentators on CNBC and uber bearish websites (you know who they are) have criticised the US market rally for being too thin, too focussed on the big name tech stocks. Bearish stories get all the attention, yet the market continues to grind higher week after week. Here’s a good one from David Stockman, who believes […]Spanish police crackdown on voters at Catalonia election
In another example of the power of the state, peaceful voters in Spain’s Catalonia region have been met harshly by police. The region was holding a peaceful vote for independence today, however Madrid ruled the vote illegal and has made various attempts at suppressing voters and closing poling booths. Riot police clashed with voters in Barcelona and other […]BoC flips dovish, USDCAD pops higher
To say that today’s speech by BoC governer Poloz was bearish wouldn’t do the market reaction justice. The USDCAD, which has been ripping to the downside recently on a hawkish Bank of Canada and rising oil, reversed hard today on the revelation that the BoC is now going to move ahead with caution. FX traders […]The Fed, Interest Rates and Market Reaction One Day On
The US Federal Reserve confirmed that another rate rise was likely this year, sending the EURUSD below 1.19, and US 2-year yield to its highest level since 2008 on Wednesday. While the Fed didn’t raise rates (as expected), the “dot plot” firmed up another rate hike in 2017. One caveat, if you could even call […]The Week Ahead: US Interest Rates & EU Data
The markets buoyant start to September could see some volatility this week when the US Federal Reserve delivers it’s decision on interest rate decision on Wednesday. Importantly, it’s expected to announce the beginning of balance sheet reduction. Fed Not Expected To Raise Rates. While another rate hike isn’t on the cards, future guidance and comments […]Bitcoin’s woes worsen as China ban confirmed.
Yuan denominated Bitcoin crashed today in today on news that China’s second largest exchange, BTCChina , will halt trading as of September 30. As of 11.30am EST, the Yuan BTC cross was down a massive 35%. BTC/USD didn’t far much better, at 6.30pm EST it’s down -14% and trading below the crucial $3500 dollar support/resistance level. […]Is It Time To Buy The US Dollar?
The dollar has seen nothing but red this year, is it time to buy the US dollar? The Year of the Bulls Turned Sour. Every man and their dog was long the dollar going into 2017. The story was clear: we had a weak Euro-zone, weak Canada, weak Japan, and a strong USA with a […]Older Posts