Indian Indices Continue Momentum; Telecom Stocks Witness Buying
After opening the day on a positive note, stock markets in India have continued their momentum. Sectoral indices are trading on a positive note with stocks in the telecom sector and banking sector witnessing maximum buying interest. The BSE Sensex is trading up 242 points (up 0.8%) and the NSE Nifty is trading up 65 points (up 0.8%). The BSE Mid Cap index is trading up by […]
Oil For Gold – The Real Story
Following an article in the Nikkei Asia Review, which reported China will shortly introduce an oil futures contract priced in yuan, there has been some confusion about what it means. The article pointed out that in combination with existing gold futures priced in yuan, an oil exporter to China contracting to accept yuan could use […]
EUR/USD And GBP/USD Forecast – Friday, Oct. 13
EUR/USD The EUR/USD pair tried to rally initially on Thursday but then turned around to form a slightly negative candle. I think that the market is trying to go higher though, so pullbacks that show signs of support are opportunities to go long, perhaps reaching towards the 1.20 level. That’s an area that should offer […]
Don’t Hold Your Gold In A Swiss Bank
Don’t hold gold in a Swiss Bank or in any bank in any country. We regularly see examples both in medium-sized and big Swiss banks that should make bank clients very concerned. Here are some examples: Client stores physical gold in a bank but when he wants us to organize a transfer to private vaults, […]
Ulta Beauty Gets Ultra Ugly
I first wrote about Ulta Beauty (ULTA) in early September, 2016 after it confirmed a bearish breakdown from support at its 50-day moving average (DMA). I never traded the stock and missed the entire recovery and 31% gain to the last peak and all-time high in early June, 2017. It took another bearish breakdown for ULTA caught […]
Fed Likely On Track To Hike Rates. FOMC Presidency, Inflation In Focus
The FOMC members, Powell and Harker, are scheduled to speak today. The speeches from the Fed members mark a long list of Fed speeches delivered during the week. So far, FOMC members Kashkari and Powell gave their speeches including the Fed Chair Janet Yellen. Kashkari maintains dovish stance As expected, the Minneapolis Fed President Kashkari […]
Trump’s Tax Reform Is The Tipping Point For The Future Of The World
On a macro level, Trump’s tax reform is the topic of the moment. Basically, if approved, it will be positive in the short to medium-term, but it will raise high risks for the future of the world economy. The fiscal program seems designed in a way that will increase the deficit. If not approved, then […]
China Launches Yuan-Ruble Payment System
The monetary regimes of China and Russia, two of the world’s most resource-rich nations, are drawing closer with every passing day. In the latest push for convergence, China has established a payment versus payment (PVP) system for Chinese yuan and Russian ruble transactions in a move to reduce risks and improve the efficiency of its foreign exchange transactions. […]
Stocks To Watch: NUE, BWP, LYV
Friday’s stock picks: Take a look at three trading ideas to prep you for the next trading session. Long Nucor (NUE) Long Boardwalk Pipeline Partners (BWP) Short Live Nation Enternatinment (LYV)
USD/CAD: Fading The Rallies Into BoC Meeting In 2 Weeks
The Canadian dollar stabilized after the recent turbulence and is looking for a new direction. What’s next for USD/CAD? Here is their view, courtesy of eFXnews: TD FX Strategy Research recommends fading USD/CAD rallies ahead of the BoC meeting in two weeks. “The technical picture has also improved with the break of the 1.2472 (fib level) […]
