The surging yen has been the main feature in the foreign exchange market in recent days, but its advancing streak has been stopped with today’s setback. The greenback traded briefly dipped below JPY107.70 in North America yesterday but has not been below JPY!08 today. It is near JPY109 as NY dealers return to their posts. Japanese officials may have ratcheted…
AUD/USD: Having the pair halted its upside pressure to close lower on Thursday, further weakness is envisaged. On the downside, support resides at the 0.7450 level where a breach will aim at the 0.7400 level. Below that level will set the stage for a run at the 0.7350 level with a cut through here targeting…
It appears the membership of Britain in the European Union will be determined by a referendum in 2016 after the Conservative victory in the recent elections. Prime Minister David Cameron made a pledge to deliver the votes even as he had to deal with pressure from inside and outside his own party. As part of…
The Yen has risen to an 18-month high against the US Dollar and stands at about 108.7 Yen, having started 2016 worth 120.6. The Yen appreciated by 6.3% during Q1 2016, but has rocketed in value since publication of the minutes of the last meeting of the Federal Reserve. The minutes cast doubt on the…
EUR/USD 4 hour The EUR/USD bullish price action could not break the strong daily resistance zone (red levels) and the psychological round level of 1.15. Price has now moved back to support levels (green), which is a bullish bounce or bearish break spot. 1 hour The EUR/USD is now caught in between various…
With first-quarter 2016 earnings lined up for release, the drastic downward revision in estimates seem to have dimmed hopes of a rosy first half or even a turnaround going ahead in the year. In fact, the overall earnings picture for the quarter appears gloomy with estimates remaining low. Moreover, challenges are expected to plague the…
Yesterday’s Trading: The euro/dollar on Thursday closed down. The euro weakened against the US dollar after the publication of minutes from the ECB’s March meeting. The minutes indicated an inclination of relaxing further their monetary policy. The euro met the support at 1.1337 (90 degrees) and then the price returned to 1.1385 (LB). There was…
Just a day after Governor Alejandro Garcia Padilla signed a law that enables him to temporary halt debt payments, dramatically raising the risk of widespread defaults, Puerto Rico securities had the biggest one-day drop in more than eight months. Today’s plunge is the biggest decline since July 28, 2015, a day after PR indicated that it…
Context Summits has published a detailed report on the views of those who allocate money into hedge funds. Almost everybody they talked to is in on the act. Ninety-six percent of investors expect to allocate to two or more hedge funds in 2016. A majority (57%) were prepared to invest in at least four hedge…
The new fiduciary standard rule has been all the rage this week on Wall Street. This new rule set out guidelines by which financial advisers must act in the best interest of their clients. Unfortunately, the new rule looks more like a lot of talk and little effective action. The main problem with giving financial advice is…
