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AUD/NZD Golden Ratio Supports The Pair
As markets reacted negatively to the RBA statement this month, the AUD may be experiencing temporary weakness. Data on the AIG Manufacturing Index and commodity prices were positive to the AUD earlier this week, whilst there is a lack of data this week on the NZD, which may limit its strength. At this point, the pair is supported by 61.8, D L5, W L3 and rising trend line which might spike the price to the upside. The POC zone for long trades is 1.0430-45 and as long as it stays above 1.0375 upside is possible. Targets are 1.0485, 1.0510 and 1.0550. W L3 – Weekly Camarilla Pivot (Weekly Interim Support) W H3 – Weekly Camarilla Pivo... -
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Can U.S. Auto Sales Recover In The Second Half Of 2017?
U.S. auto sales declined for the fourth successive month in June, coming in below most analysts’ estimates. Substantial discounts and easier loans failed to entice a greater number of consumers. This stretch of declines has to lead to speculation that sales in 2017 will be unable to match up to last year’s record showing. But shares of automobile companies gained on Monday since consumer retail sales continued to sport stability. Additionally, General Motors Company (GM – Free Report) stated that the auto sector would end the year on a positive note. In this context, it is important to identify the factors dragging sales lower... -
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Three Things Your Neighbor Doesn’t Know About Gold
It is estimated that 97% of the general population does not own any physical gold or silver, an outstanding and shocking fact. Why? Because most people simply don’t understand the shiny stuff. During my time in the industry, I’ve had the privilege of meeting with thousands of investors, wealth managers and other financial types. After all this time, I’ve come to the conclusion that the reason why most people don’t own physical precious metals is simply because they lack a clear understanding and appreciation for the metals. Most investors have very little knowledge on the subject, and those who pretend to, often discount gold as a one... -
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UK Household Savings At All Time Low
Traditionally, people have always been encouraged to “save for a rainy day”, building up a financial reserve which can be used for a wide variety of reasons from covering emergency household goods replacement to paying for a daughter’s marriage. Of course, one can only save money if you have more income than expenditure. This statistic is captured as the savings ratio and is both a barometer of return on savings investment (currently at historically poor levels in most cases) and any shortfalls in household funding due to the cost of living rising. Over the period between 1955 to date, the average value of the savings ratio has been 8.3... -
Finance 0
Emerging Market Debt Growth – What’s Up?
It’s Started: Inflows To “Structural Deflation” — Outflows From “Cyclical Inflation” Despite the recent dollar strength (if not so much in the past quarter), dollar bond issuance in Emerging Markets has been on a tear over the past year. While the EM bond universe has increased by $2.5 trillion to $18.4 trillion since 2016, only 25% of this debt is tradeable via benchmark bond indices. What is more troubling is that despite the relentless foreign portfolio inflows into EM, the credit quality of many emerging markets has deteriorated rapidly in the past year. This is an especially acute problem because the... -
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New Data On Wealth Mobility And Their Impact On Models Of Inequality
from the Cleveland Fed — this post authored by Daniel R. Carroll and Nick Hoffman Using data on families’ wealth over time, we calculate changes in relative wealth mobility; that is, how likely families are to move up or down the wealth distribution, relative to one another. We find families have become less likely to change their position in the wealth distribution over time, and those that do move are less likely to go very far. We also look at the savings behaviors that are associated with more mobile families and find that families that make large movements through the wealth distribution appear to be more likely to own some fo... -
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What Happens When The Nasdaq 100 Lags?
Over the past month, the Nasdaq 100 ETF (QQQ) is down 3.7% while the S&P 500 (SPY) is up 0.01%. Is this a good, a bad thing, or a “nothing burger” for markets? Let’s take a look at the data to find out. First, it’s important to note that such a wide divergence in performance is relatively rare. Out of 4,573 trading days since the inception of the Nasdaq 100 ETF, there were only 73 instances where QQQ was down more than 3% over the prior month while SPY was positive. In those 73, instances, the forward S&P 500 returns have been below average in all time periods from 10 days through 12 months. The percentage of positive returns ... -
Finance 0
EUR/USD Weakens Further, Risk Remains Lower
EUR/USD: The pair closed lower on Monday opening the door for more weakness in the days ahead. Resistance comes in at 1.1400 level with a cut through here opening the door for more upside towards the 1.1450 level. Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level. Conversely, support lies at the 1.1300 level where a violation will aim at the 1.1250 level. A break of here will aim at the 1.1200 level. Its daily RSI is bearish and pointing lower supporting this view. All in all, EUR/USD faces further downside pressure.... -
Finance 0
Natural Gas – Tuesday, July 4
For longer term positions we favor the down scenario towards the head and shoulders neckline of 2.50. Source: Investing.com... -
Finance 0
Renewable Energy Scales 52-Week High On Acquisition
Renewable energy provider, Renewable Energy Group, Inc. (REGI – Free Report) touched a new 52-week high of $13.39, eventually closing at a tad lower at $13.10 on Jul 3. The stock has delivered a one-year return of about 46.2% compared with the Zacks categorized Biofuels industry’s gain of 30.6%. In the last 52 weeks, Renewable Energy‘s share price has ranged from a low of $7.91 to a high of $13.39. Average volume of shares traded in the last three months is approximately 411.87 thousand. Why is Renewable Energy on the Rise? Renewable Energy has been a steady performer, having delivered an average surprise of 13.39% in the trai...
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