Withdrawal From Paris Agreement And Gold
President Trump announced his decision to withdraw the U.S. from the Paris Climate Accord. What does it mean for the gold market? On Thursday, Trump declared that the United States was getting out from the global climate pact: “In order to fulfill my solemn duty to protect America and its citizens, the United States will withdraw from […]
E Lack Of Participation From Miners Denotes An Underlying Weakness
Gold and Silver jumped to fresh highs, but miners are lagging significantly; they should be up 3%+. The lack of participation in miners implies that the metal rally is running on fumes. I expect gold and silver to turn lower next week. -GDX- Miners are modestly higher and maintaining the trendline while gold and silver […]
Clear Skies For Equities; But What About Gold?
US Equities markets didn’t even blink with the announcement that the United States is now aligned with Syria in rejecting the Paris Climate Accord. How that relates to good business over the longer term seems elusive. This week’s market action demonstrates how equities pricing horizon is all about the next quarter. Hence, all our key […]
UK Soccer Players Abandon Pound, Demand Payment In Euros
Leading English Premier League football (soccer) stars are demanding to be paid in euros because of the weak value of the Pound, according to Manchester United, the wealthiest club in world football. As The FT reports, speaking at the KPMG Football Benchmark event in London on Wednesday. Cliff Baty, the English Premier League side’s chief financial officer […]
The Anti-Perfect Jobs Condition
The irony of the unemployment rate for the Federal Reserve is that the lower it gets now the bigger the problem it is for officials. It has been up to this year their sole source of economic comfort. Throughout 2015, the Establishment Survey improperly contributed much the same sympathy, but even it no longer resides […]
Crude Oil’s Sweet Spot
The long-term chart below of Crude Oil shows a potential reverse Head & Shoulders pattern that has formed since the end of 2014, with a high-level tug-of-war occurring above the light green shaded area (just above a 78.6% Fibonacci retracement level and within the upper half of a declining channel) at 43.50 since mid-2016. At the moment, we see major indecision […]
Weighing The Week Ahead: Is The Bond Market Sending A Message For Stocks?
After the news-heavy calendar last week, there are few market-moving economic reports in the week ahead. It is also the quiet period for the Fed. How will the punditry fill those empty minutes? Last week’s trading revived a question that many find puzzling. I expect pundits to be asking: How can bonds and stocks both […]
Weekly Trading Forecast: Politics In Focus On UK Election, Comey
An unexpectedly uncertain UK election and testimony from ousted FBI director James Comey may rattle markets and overshadow economic news-flow. US Dollar Forecast:US Dollar at Risk as Political Jitters Rattle Financial Markets The US Dollar is vulnerable to further weakness as political uncertainty shakes global markets and undermines the Fed’s ability to sustain a lasting rate […]
North American Marijuana Index Drops 15% In May, Worst Month In Over A Year
The North American Marijuana Index, a stock index that tracks the top performing cannabis stocks in the U.S. and Canada, decreased 15% in May as stocks sold off in both markets. This marks the worst performing month for the North American Marijuana Index since December 2015. The North American Marijuana Index is a combination of […]
As Short Interest Jumps And Outflows Rise, Bill Blain Warns: “The Amount Of Passive Money Is Scary”
I’ve said this before and I’ll say it again: if you’re a retail investor and you’re long high yield through popular ETFs, it’s probably not a good sign when you see the pros increasingly expressing their own longs via CDS while simultaneously shorting the ETFs you’re in. And that’s exactly what looks to be going […]
