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Brexit: Theresa May Failure To Reach Agreement EU Plunges Pound
U.K. Prime Minister Theresa May failure to reach an agreement with the European Commission President Jean-Claude Junker on Monday deepened Brexit uncertainties. The talks which broke down after Arlene Foster, the DUP leader, ruled out any deal “which separates Northern Ireland economically or politically from the rest of the United Kingdom”. Took a surprise turn when Leo Varadkar, the Irish Prime Minister, accused Prime Minister Theresa May of reneging on their agreement to put an end to the border controversy and kick-start negotiation. According to Leo “The responsibility of any prime minister is to ensure that they can follow through... -
Finance 0
Forex Strength And Comparison Week 49 / 2017
In the Currency Strength table, the GBP was the strongest currency while the NZD was again the weakest. There were some significant changes last week with the USD, GBP, AUD and CAD gaining 1 point, the JPY losing 3 points and the EUR losing 1 point. The GBP showed a good performance during the whole week and a very strong performance at the end of the week. The CAD and CHF showed a very strong performance at the end of the week and the EUR a steady and strong performance during the whole week. The GBP, EUR, and CAD are Strong currencies and fit exactly with the current performance in the Classification and Score. The CHF is a Neutra... -
Finance 0
USD/CAD Daily Analysis – Tuesday, December 5
USD/CAD moved below 1.2666 support. Further decline would likely be seen and next target would be at 1.2600 area. Below this level would aim 1.2433 support. Near-term resistance is at 1.2750, only break above this level could trigger another rise to test 1.2916 resistance.... -
Finance 0
Stocks To Trade: HDS, ROK, KLAC
Tuesday’s stock picks Take a look at three trading ideas to prep you for the next trading session. Long HD Supply (HDS) Short Rockwell Automation (ROK) Short KLA-Tencor (KLAC)... -
Finance 0
In Search Of The Mythical Vol. Spike
Where next for vol.? Nowhere. Unless it’s lower. Of course. That’s how things work. That’s how things have to work. That’s how things must work. Because as Citi recently put it, “trades and strategies which explicitly or implicitly rely on the low-vol environment continuing are becoming more and more ubiquitous.” That ubiquity begets feedback loops – i.e. self-feeding dynamics that, when underwritten by radical central bank transparency, optimize around themselves. They work because they have to. Rebelling against the prevailing system entails foregone carry, underperformance, and to quote Deutsche Bank’s Aleksandar Kocic,... -
Finance 0
Weekly Gasoline Price Update: Regular And Premium Down Three Cents
It’s time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium were down three cents each from last week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $3.23 and Santa Barbara, CA is the most expensive city, averaging $3.31. Oklahoma has the cheapest at $2.17. The WTIC end of day spot price closed at 57.47, a 1.1% decrease from this time last week. How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here’s a visual answer. The next chart is a monthly chart overlay of West Texas Light... -
Finance 0
Three Years Ago QE, Last Year It Was China, Now It’s Taxes
China’s National Bureau of Statistics reported last week that the official manufacturing PMI for that country rose from 51.6 in October to 51.8 in November. Since “analysts” were expecting 51.4 (Reuters poll of Economists) it was taken as a positive sign. The same was largely true for the official non-manufacturing PMI, rising like its counterpart here from 54.3 the month prior to 54.8 last month. None of these results, however, are meaningfully different from each other. Rather than indicate any improvement, they actually suggest quite the opposite. According to the PMI’s, China’s economy isn’t falling off but it isn’t accelera... -
Finance 0
Three Years Ago QE, Last Year It Was China, Now It’s Taxes
China’s National Bureau of Statistics reported last week that the official manufacturing PMI for that country rose from 51.6 in October to 51.8 in November. Since “analysts” were expecting 51.4 (Reuters poll of Economists) it was taken as a positive sign. The same was largely true for the official non-manufacturing PMI, rising like its counterpart here from 54.3 the month prior to 54.8 last month. None of these results, however, are meaningfully different from each other. Rather than indicate any improvement, they actually suggest quite the opposite. According to the PMI’s, China’s economy isn’t falling off but it isn’t accelera... -
Finance 0
The Dollar Index Has Risen. Demand Is Still High
Yesterday, the US dollar strengthened against the majors. The dollar index (#DX) closed the trading session in the positive zone (+0.23%). It should be recalled that at the weekend the US Senate approved a draft bill on tax reform. Demand for the American currency remains at a high level. A number of important statistical data on the US economy will be published in the current trading week. The key event will be a report on the labor market, which will appear on Friday, December 08. This may affect investors’ expectations about an increase in the Fed’s interest rate. In the Asian trading session, aggressive purchases of AUD/USD we... -
Finance 0
AUD/USD Advances Nicely On RBA Optimism, Retail Sales
The Reserve Bank of Australia is not that worried about inflation. In their last rate decision for the year and before they take a two-month break, Philip Lowe & Co. decided to drop the reference for inflation staying low for some time. They now see inflation as “picking up gradually”. This change of wording is significant and sent the Aussie higher. AUD/USD hit a high of 0.7653 after breaking above 0.7640. Further resistance awaits at 0.7730, followed by 0.78. In addition, they were quite positive on employment, saying that the labor market continues strengthening, with forward-looking indicators adding to optimism about stronger gro...
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