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FOMC Minutes Debrief; When Good News Is Bad News
The highly anticipated release of the Federal Open Market Committee’s April 26-27 Meeting Minutes was met with surprise after the discussion indicated the door was wide open for June action on interest rates. Although the Central Bank refrained from hiking rates during the prior meeting, Federal Reserve officials are suggesting the possibility of a couple of rate hikes this year, raising speculation among investors that action will come sooner rather than later. However, despite dropping many hints about the outlook for monetary policy, there are several factors that could yet derail the ambitious tightening plans. The Market’s Read and... -
Finance 0
Speculation About A June Interest Rise Strengthens
Going into 2016, the US Federal Reserve had a battle plan that called for four 0.25% hikes to the interest rate over the course of the year, in a bid to restore interest levels to near their historical average. Rates had been on hold since 2006. As the saying goes, no plan ever survives contact with the enemy. Concerns over a weak oil price and the slowing of the world’s second largest economy, China, meant that global stock markets fell heavily in early 2016, derailing the Fed’s plans to see interest rates move higher since it could have exacerbated the problem. With that said, US job growth has been fairly robust over the first five mon... -
Finance 0
Fed Drama And The Dollar – 3 Opinions
The Fed minutes opened the option for a June rate hike and lifted the greenback across the board, with notable moves in EUR/USD,AUD/USD and USD/CAD. What’s next? Is a June hike a certainty? Here are 3 opinions: Here is their view, courtesy of eFXnews: USD Post-FOMC Minutes: Options Open – BofA Merrill The April minutes of the Federal Open Market Committee (FOMC) revealed a greater willingness to consider a June rate hike than market pricing or recent consensus among economists would suggest. Indeed, “some” voting members thought that market pricing of a June rate hike “might be unduly low.” While “most” participants thou... -
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The Difference Between Money & Currency
QUESTION: Mr. Armstrong, there appears to be a dispute between what is money and what is a currency. Can you define each easily? Thank you LW ANSWER: “Currency” is an official monetary instrument used in commerce. Currency must be “legal tender,” which means the government will accept it in payment for taxes. “Money” is a much more questionable element for it is different things to different people. The goldbugs would kill you if you dared to say gold and silver were not money. But go to Starbucks and try to explain that a silver dollar should buy you two coffees. Good luck! They will look at you as a con artist. Money has tradi... -
Finance 0
E Elliott Wave Analysis: Triangle On S&P 500 Seems Completed; 2010 Zone Could Follow
S&P 500 (SPY) looks to be trading in the same situation as the DAX, both showing signs of a complex correction near completion. This complex correction, named a triangle should be completed and we believe that price may go lower towards new potential support levels, which are seen around 2010-2014, where some Fibonacci ratios of 138.2 can project a reversal and end of red wave C). S&P500, 1H A Triangle is a common 5 wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. Triangles are overlapping five wave affairs that ... -
Finance 0
USD Gains Versus EUR And JPY But Loses Against GBP
EUR/USD 4 hour The EUR/USD is showing strong bearish candles as it approaches a horizontal support level (blue). The alternative is a wave 3 if price manages to break below this support and the 161.8% Fibonacci target. 1 hour The EUR/USD broke another bear flag (dotted green) and is building a continuation as part of a wave 5 (orange). The blue line is a strong bottom from the 4 hour chart which could act as a bouncing spot. GBP/USD 4 hour The GBP/USD has broken the resistance levels (dotted) and price moved up towards the 61.8% Fibonacci level. A break above the long-term resistance trend line (red) and the 100% Fibonacci level inva... -
Finance 0
Which Is A Better Investment: Apple Or Gold?
Which is better, Apple Inc. or cold hard gold? Both have a place, it would seem. Both investments prompt emotions. But when it comes down to it, which one is a better bet? Adam Johnson, founder of Bullseye Brief newsletter explains his thinking in this video. (Video length 00:02:10)... -
Finance 0
Gold Falls On Hawkish Fed Minutes
Gold prices ended Wednesday’s session down $21.01 as the minutes of the Federal Reserve’s April meeting fueled a rally in the dollar. “Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the Committee’s 2 percent objective, then it likely would be appropriate for the Committee to increase the target range for the federal funds rate in June,” the minutes said. If the economy and labor market improve as they anticipate, Fed officials want to lift rates at the next ... -
Finance 0
Australian Dollar Little Changed By A Lackluster Jobs Report
The Australian Dollar showed a tepid response against its major counterparts after Australia’s employment report crossed the wires. The data showed10,800 jobs were added in April, which was worse than the12,000 gain expected. The prior figures were revised lower from a 26,100 position increase to a 25,700gain. Most of the jobs added were in part-time roles increasing by 20,200 positions. Meanwhile, full-time jobs contracted by 9,300 workers. The unemployment rate beat the 5.8 percent forecast, remaining at 5.7%which is the lowest level since September 2013. The labor force participation fell to 64.8% in April fr... -
Finance 0
Cisco Stock Jumps 6% On Q3 Beats, Positive Guidance
Cisco Systems, Inc. (CSCO – Analyst Report) just released its third quarter fiscal 2016 earnings results, posting earnings of $0.50 per share and revenue of $12 billion. Currently, CSCO has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below. Cisco: 1. Matched earnings estimates. The company posted earnings of $0.50 per share, in-line with the Zacks Consensus Estimate of $0.50 per share. This number ...
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