NewsUS Dollar Lower As FMOC Delivers No Surprises
The US Dollar traded lower on Wednesday following the FMOC Minutes, which failed to surprise with any new information or developments. With traders on holidays for what is essentially a 4 day weekend for US Thanksgiving, flat and choppy markets are expected. Fed Minutes: One Hike Expected. As suspected, the Fed all but confirmed a […]Volatility Returns! Equities See Some Red On Tax & Saudi Concerns
Volatility is back! It’s probably a little early to make that claim, after all, we’ve only seen one down day. However, today was different. Why? Firstly, the Nikkei dropped…hard. While the index finished -0.28% on the day, it fell sharply from the highs and continued in the futures after hours. The total fall from the […]EURUSD: Textbook Head and Shoulders Pattern Failure Opens Door To Lower Prices
The Euro has been one of the standout performers of 2017. The year opened with calls for parity from major financial institutions, however stronger European data and decreased political instability saw the EURUSD rally all the way to 1.20 or so. It also helped that the USD saw nothing but red for most of the […]Pound Falls As BOE Signals “One & Done” On Rate Hikes.
The Pound fell sharply this week as the Bank of England signaled that further rate rises were unlikely going forward. The GBP has enjoyed a strong last month or two, almost regaining the ground lost of brexit last year. It has been very volatile, however, as Brexit talks and concerns continue to keep traders and […]Bitcoin Futures Announced By The CME, Price Soars To Record Highs
Bitcoin soared to record highs today on news that the Chicago Mercantile Exchange (CME) will create a Bitcoin Futures contract by the end of the year, regulation pending. Price popped above $6400US today, and there’s really nothing to stop it from going higher still. This is bubble behaviour at it peak, but like all bubbles […]ECB Expected To Announce The End Of QE On Thursday
This years surprise package, the Euro, is this week is facing one of 2017’s key events when the ECB meet on Thursday. While all rate decisions are important, this one is exceptional, with the ECB expected to announce the end of QE. The Euro has been one of 2017’s best performers. While have been in […]The Curious Case of Oil, Why Won’t It Go Up?
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 […]Older Posts