Until the last couple of weeks, net speculative positioning in financial markets was all on one side of the boat with speculators are woefully unprepared for a major risk-off event, suggesting complacency had reached epidemic levels as equities broke out to new highs. Then
October 21, 2018
The Australian dollar was hit by an unimpressive job report and disappointing Chinese GDP. What’s next? Apart from rising and falling with the woes of stock markets, speeches by several RBA officials will rock the Aussie. Here are the highlights of the week
ASIA PACIFIC MARKET OPEN – CANADA CPI, BREXIT LATEST, AUSTRALIAN DOLLAR, EURO Canadian Dollar sinks on softer-than-expected inflation report ahead of BoC rate decision British Pound sees knee-jerk volatility as potential Brexit compromise creates a new issue Australian Dollar may gap lower given
Global equity markets had a hard time finding equilibrium. US Equities, while still the global leader, barely stayed positive with IWM closing down on the week. The Russell 2000 (IWM), which is the broadest gauge of the US economy, broke
AUDUSD remains in the downtrend from 0.8135. The bounce from 0.7041 is likely consolidation for the downtrend. As long as the price is below the bearish trend line on the daily chart, the downside movement could be expected to continue
Huge imbalances in the gold futures market led many to predict that speculators (usually wrong at big turning points) would be forced to close out their historically extreme short bets. Put another way, too many traders were using gold futures
This week we enter what’s considered peak earnings season for the third quarter of 2018, with roughly 350 S&P 500 companies reporting in the next three weeks. Early on we’ve already gotten a good idea of what to expect for
With the heart of the current earnings season for stocks running from October 16 to November 14, it’s too early to prognosticate with confidence, but there appears to be a shift in how the market is responding to good and
Bulls are falling-by-the-wayside – at an increasing pace, even as efforts to sustain the 200-Day Moving Average ‘inflection’, are showing ragged signs. This is notable ahead of a deluge of earnings reports in the week ahead. It’s against a backdrop
Investors climbed a wall of worry last week but made little headway higher. The focus was on better earnings against the usual global economic and political concerns. China produced a weaker GDP for 3Q than expected but announced stock supportive
