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  • Finance 0

    GBP/JPY Low Volatility Zone Breakout Spikes The Price

    The GBP/JPY formed the LVZ pattern – Low Volatility Zone exactly at the POC 147.85-148.05 and it is proceeding higher towards D H4 148.75. Strong h1 candle or 4h candle close above 148.75 suggest further bullish pressure towards 149.20-30. Looking at a daily chart in the chart we can see a possibility of further strength towards 149.85 as the daily strong hammer is suggesting. A retest of 148.20-35 could also be possible and if the pair bounces again from D H3-EMA89 (148.20-35) that should be a sign of another bullish pressure towards above-mentioned levels. Only below 147.80, we might see a drop towards 147.32 and bulls should lose...
    On October 18, 2017 / By
  • Finance 0

    USD Stretches Towards Resistance: Yen, Aussie To Offer Opportunity

    One of the strongest trends across FX markets this year is in question as the U.S. Dollar continues to trade higher. In the first three quarters of 2017, the Dollar faced a drawdown that saw as much as -12.33% of its value erased. After setting a fresh low in early-September, the Greenback began to move-higher into the close of Q3, but in the first week of the quarter, an abysmal NFP print combined with a big zone of resistance helped to punch the Dollar lower. That bearish action lasted for most of last week, and on Friday when we got CPI for the month of September showing 2.2% inflation in the U.S., bulls eventually returned to bid prices...
    On October 18, 2017 / By
  • Finance 0

    Amgen May Pull Back Before The Next Surge

    Will Amgen provide another ideal entry point? The chart says yes. Based on current activity, it looks like the stock will pull back to the (reliable) 50 ma (arrow). Note how the stock reacted the last time it flirted with this moving average. Amgen surged 20% in three weeks! The indicators were overheated with that run into early September, but signs indicate this pullback may be nearly over. Money flow is coming back to the neutral line. Relative strength is poor, but the entire biotech group has been in a corrective mode. Earnings are due out soon, which may be the catalyst for a surge up towards the 200 level. If it holds around the 50 ma,...
    On October 18, 2017 / By
  • Finance 0

    New Residential Housing Starts Down In Again In September

    The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for September new residential housing starts. The latest reading of 1.127M was well below the Investing.com forecast of 1.180M and a decrease from the previous month’s upwardly revised 1.183M. Here is the opening of this morning’s monthly report: Building Permits Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,215,000. This is 4.5 percent (±1.6 percent) below the revised August rate of 1,272,000 and is 4.3 percent (±1.7 percent) below the September...
    On October 18, 2017 / By
  • Finance 0

    New Residential Housing Starts Down In Again In September

    The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for September new residential housing starts. The latest reading of 1.127M was well below the Investing.com forecast of 1.180M and a decrease from the previous month’s upwardly revised 1.183M. Here is the opening of this morning’s monthly report: Building Permits Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,215,000. This is 4.5 percent (±1.6 percent) below the revised August rate of 1,272,000 and is 4.3 percent (±1.7 percent) below the September...
    On October 18, 2017 / By
  • Finance 0

    Housing Starts, Permits Collapse In September (Spoiler Alert: It Wasn’t Just The Storms)

    Following last month’s bounce in permits (later revised lower), September expectations were for a decline of 2.1% (presumably analysts knew of the storms’ potential impact when they guessed) but it utterly collapsed – down 4.5%. Worse still Housing Starts were supposed to drop just 0.4% in September but crashed 4.7%. These are 2 to 3 standard deviation misses of expectations… so don’t simply blame the storms as analysts were well aware that they occurred when they made their forecasts… Notably, multifamily starts tumbled to 286K, lowest since Sept 2016… And it was clearly not just the hurricanes &...
    On October 18, 2017 / By
  • Finance 0

    NAFTA Renegotiations In Tatters As Trade Talks Break Down

      Canada & Mexico Reject US Demands The Trump administration became involved in yet more political embarrassment yesterday as Mexico and Canada rejected the President’s demand during talks aimed at securing a renegotiation of NAFTA. Negotiators operating on behalf of the US government presented a slew of proposals aimed at getting the Canadian government to remove its protectionist controls around its dairy and poultry sectors. The breakdown of the talks was exacerbated by what many have called an “unusual” joint public appearance by Canadian Foreign Affairs Minister Freeland and US Trade Representative Robert Lightizer who traded ...
    On October 18, 2017 / By
  • Finance 0

    USD/JPY And AUD/USD Forecast – Wednesday, Oct. 18

    USD/JPY The US dollar initially fell during the day on Tuesday, reaching towards the 112 level. We found enough support at that level to turn things around though, but then fell after words. Because of this, we ended up forming a bit of a shooting star that sits just above the 112 handle. I think that this market should continue to find a lot of noise in this general vicinity, so therefore I’m not looking for some type of major selloff. However, if we were to fall from here, I think there is plenty of support at the 111-level underneath to keep the market afloat. If we break above the top of the shooting star for the day, that is reason eno...
    On October 18, 2017 / By
  • Finance 0

    Global Markets Maintain Positive Momentum

    The Dow Jones Industrial Average briefly broke above the 23,000-point mark for the first time on Tuesday, driven by strong earnings from UnitedHealth and Johnson & Johnson, but finished the session just below that milestone. The US markets were up 0.5% during the week. UK’s FTSE was flat following comments by Bank of England policymakers which were taken as dovish by market participants. On the data front, Britain’s inflation rate soared to a fresh five-and-a-half-year high in September. The consumer prices index rose 3% last month, up from 2.9% in August. Back in Asia, markets were steady during the week as investors in the...
    On October 18, 2017 / By
  • Finance 0

    E Canada Posts The Fastest Population Growth Rate Among The G7 Group Of Countries

    According to the Canadian Census, Canada’s population was 35,151,728 in 2016. Over the previous five years, Canada’s population increased by 1.7 million (or 5%), a slightly lower rate than the 5.9% increase from 2006 to 2011. Some salient facts about Canada’s relatively rapid population growth. About two-thirds of Canada’s population growth from 2011 to 2016 was the result of net migration (the difference between the number of immigrants and emigrants). The natural increase in the population (i.e. the difference between the number of births and deaths) accounted for the remaining one-third. In coming years, Canada’s fu...
    On October 18, 2017 / By