HIGHLIGHTS Bitcoin: Hits a significant upside target, but rally may still have legs. US Dollar: Clears key resistance and heading higher, following bounce off key circle support. Gold: Next key area to watch for key support is around $1,215 to $1,201. BITCOIN (XBT/USD)
December 10, 2017
The Top 10 of the Ranking and Rating list for the coming week shows the following stronger currencies being well represented for going long: the GBP(5X) followed by the EUR(3X) and the USD(2X). The weaker currencies are the AUD(3X) followed by
In mid-November, just days after Barclays released its 2018 equity outlook with the title “Rational Exuberance”. Goldman’s David Kostin decided that imitation was the sincerest form of unveiling a non-contrarian year-end forecast, and in presenting his revised S&P price target for
So the tax bill and Bitcoin will be front and center in the week ahead and there’s more than a little irony in that. Unless the conference committee goes completely off the rails and barring some kind of last minute
It is possible that SPX made an intermediate top at 2665 on 12/04 and that the current short-term uptrend from 2625 is a retest of the high, after which the intermediate correction will start in earnest. The rally from 2625
Financial markets look set for fireworks as the Federal Reserve, the European Central Bank and the Bank of England deliver monetary policy announcements in the week ahead. US Dollar Forecast: US Dollar May Rise as Fed Rate Hike Outlook Tops Market Baseline
In the Currency Strength table, the GBP was again the strongest currency while the AUD was the weakest. There were some significant changes last week with the USD gaining 2 points, the JPY and NZD 1 point, the CHF and
The stock market was sagging last week until tax reform gained momentum in Washington and that shifted the market mindset from “will we get tax reform?” to “which sectors and companies will benefit from tax reform?” This led to a
In starkly dramatic terms, the Bank of China’s Governor, Zhou Xiaochuan, raised the specter that the country could face a “Minsky Moment “. Named after the late economist, Hyman Minsky, the term refers to a sudden collapse of asset prices
Dollar/yen continued gaining ground as the US advanced on tax cuts and the data wasn’t bad enough to halt the Fed from raising rates. Japan’s GDP disappointed, and added to the pair’s gains. The upcoming week features the Fed as the
