Hurricane Harvey Wreaks Havoc On Texan Oil Refineries
Hurricane Harvey has been battering the areas surrounding Houston and Galveston, Texas, all weekend, and civilians are not the only ones being hurt by the flooding. Several oil refineries have been forced to shut down as a result of the heavy rain, sending prices at American gas pumps higher. Royal Dutch Shell has shut down […]
Crude Oil Prices Shrug Off Hurricane Harvey, Gold May Rise
Crude oil prices made little headway on Friday, with the WTI benchmark range-bound in familiar territory. US refinery closures courtesy of Hurricane Harvey drove gasoline upward but raw-material costs conspicuously didn’t budge. Monday’s underwhelming offering of scheduled event risk may leave markets rudderless until the API set of weekly inventory flow statistics comes out on the following day. Gold prices seesawed […]
Weekly Gold Forecast – Monday, August 28
Gold prices settled at $1291.46 an ounce on Friday, gaining 0.6% on the week, as a drop in the U.S. dollar index lent some support to the precious metal. The greenback has been weighed down by uninspiring U.S. economic data and concerns over Donald Trump’s ability to carry out his promised growth-friendly reforms as well […]
EUR/USD Bullish Break Above Triangle Pattern Challenges 1.20
EUR/USD 4 hour The EUR/USD did break above the resistance trend line (dotted red) of the triangle chart pattern as expected. This breakout is a continuation of wave 5 (green) of wave 3 (blue). The first target is the round level of 1.20, which could cause a retracement. 1 hour The EUR/USD bullish breakout is […]
Here Is The Bottom Line For EUR/USD Post-Jackson Hole – Nordea
EUR/USD is trading higher following the speeches of Mario Draghi and Janet Yellen in Jackson Hole. What’s next? Here is the bottom line from Nordea: Here is their view, courtesy of eFXnews: Nordea FX Strategy Research notes that even with no news speeches from Fed Yellen and ECB Draghi at Jackson Hole, EUR/USD actually did care, with […]
CannTrust Reports Strong Revenue, Patient Growth And Net Income For The Current Quarter
CannTrust Holdings Inc. (CSE: TRST) announced financial and operating results for the six months ending June 30, 2017. All amounts expressed are in Canadian dollars unless otherwise noted. Revenues for the three and six month periods ended June 30, 2017 were $4,541,378 and $7,574,623 respectively compared to $798,403and $1,499,180 in the comparable 2016 periods. Net Income (loss) for the three and six month periods ended June […]
As Jackson Hole Ends, Here Is The Truth
The 2017 edition of the Jackson Hole symposium is officially over, and while central bankers disappointed markets by not providing any insight into their views on monetary policy (assuming they have any) they instead focused on market stability, and patted themselves on the back for creating a fake “risk-free environment” (which they justify by the […]
Gold – Risk Remains Higher On Trend Resumption
GOLD: The commodity continues to face upside pressure as it looks to resume its upside pressure presently on hold. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the […]
ETH/JPY Edges Higher As Mark Cuban Launches Ethereum-Based Mercury Protocol
Ethereum opened today’s Asian market with a bullish sentiment on the news that entrepreneur Mark Cuban’s team has launched an Ethereum-based mercury protocol. Based on the white paper released by the protocol’s developers, Mercury Protocol is designed as an alternative to centralized communication platforms that aims to ensure the privacy of its users. By using the […]
“Pray For A Bear Market”: One Bank’s “Paradoxical” Advice To Active Managers
Back in April, we showed that according to a Goldman Sachs report, the current run of chronic active manager underperformance began shortly after the launch of QE in 2009. As discussed earlier today by Matt King in his report on “one-way” markets resulting from QE and ETFs, this period has been marked by “stubbornly low volatility and dispersion”, something Goldman […]
