U.K. Prime Minister Theresa May failure to reach an agreement with the European Commission President Jean-Claude Junker on Monday deepened Brexit uncertainties. The talks which broke down after Arlene Foster, the DUP leader, ruled out any deal “which separates Northern Ireland economically or politically from the rest of the United Kingdom”. Took a surprise turn…
In the Currency Strength table, the GBP was the strongest currency while the NZD was again the weakest. There were some significant changes last week with the USD, GBP, AUD and CAD gaining 1 point, the JPY losing 3 points and the EUR losing 1 point. The GBP showed a good performance during the whole…
USD/CAD moved below 1.2666 support. Further decline would likely be seen and next target would be at 1.2600 area. Below this level would aim 1.2433 support. Near-term resistance is at 1.2750, only break above this level could trigger another rise to test 1.2916 resistance.
Tuesday’s stock picks Take a look at three trading ideas to prep you for the next trading session. Long HD Supply (HDS) Short Rockwell Automation (ROK) Short KLA-Tencor (KLAC)
Where next for vol.? Nowhere. Unless it’s lower. Of course. That’s how things work. That’s how things have to work. That’s how things must work. Because as Citi recently put it, “trades and strategies which explicitly or implicitly rely on the low-vol environment continuing are becoming more and more ubiquitous.” That ubiquity begets feedback loops – i.e. self-feeding dynamics…
It’s time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium were down three cents each from last week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $3.23 and Santa Barbara, CA is the most expensive city, averaging $3.31. Oklahoma…
China’s National Bureau of Statistics reported last week that the official manufacturing PMI for that country rose from 51.6 in October to 51.8 in November. Since “analysts” were expecting 51.4 (Reuters poll of Economists) it was taken as a positive sign. The same was largely true for the official non-manufacturing PMI, rising like its counterpart…
Yesterday, the US dollar strengthened against the majors. The dollar index (#DX) closed the trading session in the positive zone (+0.23%). It should be recalled that at the weekend the US Senate approved a draft bill on tax reform. Demand for the American currency remains at a high level. A number of important statistical data…
The Reserve Bank of Australia is not that worried about inflation. In their last rate decision for the year and before they take a two-month break, Philip Lowe & Co. decided to drop the reference for inflation staying low for some time. They now see inflation as “picking up gradually”. This change of wording is…
I have been harping on retail as a contrary investment and trade for the past month or so. A reader prompted me to consider whether a seasonal element helps explain the current run-up that has turned into a bona fide breakout for the SPDR S&P Retail ETF (XRT). Turns out the answer is “not really.” XRT…
