Category Archive: Finance
VIX Set For Lowest Annual Average Ever, But…
While intra-month the CBOE Volatility Index reached its highest since November, before plunging back to earth into the end of the month, VIX is still on track to post its lowest annual average on record. Bloomberg notes that in the past decade, VIX gains in August were followed by September declines in all but one instance. While VIX has […]
EURUSD Daily Analysis – Monday, Sept 4
EURUSD is facing 1.1823 support. A breakdown below this level will indicate the short term uptrend from 1.1662 had completed at 1.2070 already, then the following downside move could take price to test 1.1662 key support. On the upside, as long as 1.1823 support holds, the fall from 1.2070 would possibly be correction of the […]
EUR/GBP Technical Analysis: Two-Month Euro Uptrend Broken
The Euro may have started a significant trend reversal against the British Pound, marked by a break of supporting guiding the rising trend since mid-July. The turn lower followed after prices failed to overcome resistance marked by the high set in the aftermath of the Brexit referendum near the 0.93 figure. Near-term support is now […]
Bitcoin, Sour Grapes And The Institutional Herd
If I had a bitcoin for every time some pundit declared bitcoin is a bubble, I’d be a billionaire. There are three problems with opining that bitcoin and cryptocurrencies are bubblicious: 1. Everything is in a bubble now: stocks, bonds, housing, heck, even bat guano is bubblicious. Exactly what insight is being added by yet another guru […]
US Withdrawal From KORUS Free Trade Agreement?
From Reuters: President Donald Trump on Saturday said he would discuss the fate of a five-year-old U.S.-South Korean free trade deal with his advisers next week, in a move that could see him pull out of the accord with a key American ally at a time of heightened tensions on the Korean peninsula. This seems to […]
Sensex Opens Lower After North Korea’s Nuclear Test; Sun Pharma Opens Down By 1.3%
Asian stock markets are lower today as tensions elevated on the Korean Peninsula early after North Korea said it tested a hydrogen bomb over the weekend. The Shanghai Composite is off 0.1% while the Hang Seng is down 0.45%. The Nikkei 225 is trading down by 0.86%. Back home, Indian share markets have opened the day marginally lower. The BSE Sensex is […]
EUR: The Level Of EUR Will Become Increasingly Important Into ECB Sep-7 Meeting – BTMU
EUR/USD made a round trip to 1.2070 before falling back down, well under the 1.20 level. This could influence the decision by the European Central Bank when it decides on QE tapering. Here is the view from the ECB: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that the important date for EUR monetary […]
Cummins New Electric Semi Truck Takes On Tesla: Another Cog In Autonomous Puzzle
Cummins unveiled a revolutionary new all-electric powertrain in a demonstrator truck to the media on August 29, a few weeks ahead of Tesla’s planned revealing of its own electric “semi” truck. The truck is not self-driving, yet it fills a direct need in the path of self-driving trucks. SupplyChain reports Cummins Taking on Tesla with Electric […]
A Recharge For The Canadian Dollar Bull
A little over a week ago, I explained why I put the Mexican peso and the Canadian dollar (FXC) on shorter leashes. Canada’s extremely strong second quarter GDP report at the end of August just loosened that leash a little. Statistics Canada reported 2Q real GDP growth of 1.1%. The annualized growth rate of 4.5% was a […]
The Longer-Term Trend
Sorry I didn’t publish any posts last week. I have been on vacation and out-of-town. I brought my laptop with me, and I thought I was going to have time to post, but it turned out to be a much busier vacation than I expected. The short-term trend is up. The PMO index is confirming. […]
