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    German ZEW Sentiment Misses With 17.6 – EUR/USD Ticks Lower

    Business confidence is not going anywhere fast, according to the ZEW Economic Sentiment measure for October 2017. The score advanced from 17 to 17.6 points. Worse off, the Current Conditions component shows a fall from 87.9 to 87 points. EUR/USD, which was already under pressure, is ticking a few pips to the downside. This isn’t dramatic but just adds on the already existing pressures. Germany’s ZEW Economic Sentiment measure was expected to advance from 17 points in September to 20 in October. The Current Conditions component carried expectations for a rise from 87.9 to 89 points. EUR/USD was trading around 1.1767 ahead of the publicatio...
    On October 17, 2017 / By
  • Finance 0

    E Is Brexit Impact On The UK Property Market A Fallacy?

    Talks between the UK and the EU on the withdrawal of Britain following Brexit have been reported to have hit a deadlock in the last few days. And on October 16, 2017, British Prime Minister, Theresa May was reported to have traveled to Brussels for a dinner with EU leaders in a bid to end the stalemate over Brexit. However, nothing is expected to be resolved in one sitting and process could take longer than anticipated. When Theresa May triggered article 50 in March this year, many feared that this could potentially affect the financial sector of the British economy, especially the property market. This was perceived in anticipation of a decr...
    On October 17, 2017 / By
  • Finance 0

    New Zealand Inflation Beats Expectation In 3Q; Kiwi Stable

    Rising housing costs and expensive food materials strengthened New Zealand’s consumer prices in the third quarter of 2017. Consumer Price Index rose 0.5 percent in the third quarter, according to the Statistics New Zealand report released on Tuesday. On a yearly basis, prices climbed 1.9 percent, up from 1.7 percent recorded previously. Little to no change in gasoline prices, rising housing costs and softening of the New Zealand dollar strength overshot prices in the quarter. “Rents and construction costs in Wellington are rising faster than for the rest of the country,” said Jason Attewell, prices senior manager at Stats NZ. Still, the...
    On October 17, 2017 / By
  • Finance 0

    AUDUSD Daily Analysis – Tuesday, Oct. 17

    AUDUSD stays above a bullish trend line on the 4-hour chart and remains in the uptrend from 0.7732. As long as the price is above the trend line, the fall from 0.7897 could be treated as consolidation of the uptrend. Further rise could be expected after the consolidation and next target would be at 0.7986. Near-term resistance is at 0.7897, an upside break of this level could signal resumption of the uptrend. On the downside, a breakdown below the trend line will confirm that the uptrend had completed at 0.7897 already, then the following downside movement could bring the price back towards the resistance-turned-support trend line on the wee...
    On October 17, 2017 / By
  • Finance 0

    USD Intermediate Cycle Update

    I need to see a bit more follow through confirmation in the days ahead, but it sure looks to me that the USD found support at the 50ma and found a short-term Trading or Daily Cycle Low (TCL/ DCL) last Friday on day 24. If I am correct, yesterday was day 1 of the Trading Cycle #2 and this also means that the USD has found its longer-term 5-6 month Intermediate Cycle Low (ICL) back in early September near the 7-month mark. My first chart is a close up daily that shows the price action. My second chart is a 2 year weekly showing the overhead resistance the USD will need to overcome if it is to test or breach my Red Yearly downtrend line....
    On October 17, 2017 / By
  • Finance 0

    WTI Crude Oil And Natural Gas Forecast – Tuesday, Oct. 17

    WTI Crude Oil The WTI Crude Oil market continues to show strength, and now that the Iraqi Army has entered Kurdistan, there are a lot of concerns when it comes to the disruption of oil around the world. That being the case, we did see a bit of a rally, but I would point out the fact that we have failed to make a fresh, new high, and I think that there is more than enough resistance above to keep this market from going any higher. If we do breakout to the upside, the market will probably go looking towards the $55 level, which I think is the absolute top in the market. A pullback from here makes a lot of sense, but I think there is plenty of s...
    On October 17, 2017 / By
  • Finance 0

    HH Amazon Has A Long Track Record Of Failures

    Analysts give Amazon.com Inc. (Nasdaq: AMZN) a lot of credit these days. The company can single-handedly alter a business environment overnight … or at least that’s what analysts would lead you to believe. Amazon’s latest market-moving announcement was that it was close to deciding on entering the online pharmaceutical drug marketplace. Let me repeat that. Amazon is “close to deciding.” It hasn’t even decided yet. But that didn’t stop stocks like CVS Health Corp. (NYSE: CVS) from dropping over 7% in the days following the news. It’s as if analysts think whatever Amazon touches is automatically changed forever. That’s si...
    On October 17, 2017 / By
  • Finance 0

    E IMF Raises Global Economic Outlook For 2017 And 2018

    The IMF, in its World Economic Outlook, raised the global economic outlook for 2017 to 3.6% and to 3.7% for 2018. This was a slight upgrade from the previous estimates of 3.5% and 3.6% respectively. The IMF’s World Economic Outlook report is released twice a year. In its report, the IMF said that the global economy had strengthened and was broad-based. However, the growth remains incomplete, the report cautioned as it cited low wage growth and challenges from commodity exporters. IMF calls out the UK. Forecasts lowered The IMF called out the UK calling it a “notable exception” to a globally improving economy. The IMF cut the...
    On October 17, 2017 / By
  • Finance 0

    The Harsh Truth About Gold

    Is gold dead? Over the last three years, the SPDR Gold Shares ETF (GLD) has lollygagged in a sideways direction. I’d honestly rather watch paint dry than analyze a gold chart. Given such an uninspired performance, I don’t believe that gold warrants a major weighting in your portfolio. Of course, my assertion above constitutes sacrilege to any “gold bug.” So let me explain… Please don’t confuse a gold ETF with owning physical gold. A gold ETF is a piece of paper that represents a loose claim (at best) on gold. Vaulted gold, however, is real — and can be called upon in any crisis event. Still, some folks will insist on owning prox...
    On October 17, 2017 / By
  • Finance 0

    Sensex Trades In Red; Bank Stocks Top Losers

    After opening the day in the red, share markets in India have traded on a volatile note and are presently trading below the dotted line. Sectoral indices are trading on a mixed note, with stocks in the capital goods sector and stocks in the realty sector witnessing maximum buying interest, while stocks in the banking sector are leading the losses. The BSE Sensex is down up by 56 points (down 0.2%) and the NSE Nifty is trading down by 8 points (down 0.1%). Meanwhile, the BSE Mid Cap index is trading up by 0.2%, while the BSE Small Cap index is trading up by 0.3%. The rupee is trading at 64.90 to the US$. In news from stocks in ...
    On October 17, 2017 / By