As the manufacturing recession becomes more and more unassailable (and I mean that in more than one way), the fact that it still shows no end or let up suggests still greater difficulty beyond manufacturing. As feedback loops become more established and robust, and thus convince more and more non-manufacturing firms to adjust instead of waiting out…
Though a bull market ruled from 2009 to 2014, anticipation of a lift-off as early as this month is likely to put a spanner into the ascent. The bet was never so strong before with a procession of Fed official supporting the December timeline this time around. Though the latest manufacturing numbers came in at…
Today will be a big day for the European Central Banks (ECB) as they are on opposite sides of the FED. FED Chair Dr. Yellen appeared before Congress today to make her case to increase short-term rate at the FED on December 16, 2015. “WASHINGTON – Federal Reserve Chair Janet Yellen tells Congress that economic conditions are…
Buy the news! Euro sports a Draghi Who was short the Euro on Draghi Day? For that matter, who was long Uncle Buck? I mean I am long plenty of Uncle Bucks because I have a high cash position. But who was trying to game the ECB? Come on, admit it boyz and girlz. …
US Census says manufacturing new orders improved. Our analysis says sales did improve but are still not good. Unadjusted unfilled orders’ growth remains in CONTRACTION year-over-year. Part of the reason for the bad data is that the data is not inflation adjusted (deflation is occurring in this sector) – but it does not explain all…
ECB president Mario Draghi’s announcement today regarding more QE fell far short of the sky-high expectations of market participants. Draghi Recap ECB would continue its €60bn-a-month bond buying program for another 6 months until March 2017 “or beyond”. ECB reduced key interest rate to a historic low of minus 0.3 percent. ECB pledged to buy…
ECB Disappoints All those who continue to forget this trading maxim were royally punished on Thursday morning as the ECB could not match the trading enthusiasm built into the move in shorting the Euro and thus going long the US Dollar for the prior 7 weeks lead up into the ECB Monetary Policy Decision. This…
ECB Disappoints All those who continue to forget this trading maxim were royally punished on Thursday morning as the ECB could not match the trading enthusiasm built into the move in shorting the Euro and thus going long the US Dollar for the prior 7 weeks lead up into the ECB Monetary Policy Decision. This…
As the US Dollar plunges under the weight of short-squeezed EUR FX traders, so commodities are making gains. With OPEC right around the corner, WTI continues to be the highest beta and has soared back to yesterday’s highs on no news whatsoever (apart from comments from OPEC that they will only cut if non-OPEC cuts).
US Dollar Index Daily: Was that a major head fake? A bunch of dollar bulls, euro bears, have been hammered so far today (time left of course). Did we just see a major head fake from Mr. Market? There were a lot of one-way bets…Is the price action also telling us Fed Chairman Yellen…
