Safe haven gold extends rally to 11-month high after North Korea nuke test and U.S. warns of ‘massive’ response. Asian and European stocks fall, bonds flat, gold, silver, palladium, Swiss franc rise as Korea tensions flare as North Korea tests ‘hydrogen bomb’. North Korea prepares for possible ICBM launch says S. Korea. U.S. warns of ‘massive,’ ‘overwhelming’ military response to North Korea after meeting with Trump. Trump weighing new economic sanctions that target China. Gold is consolidating above the $1,300/oz key resistance level and building on 4% gain seen in August. Relative Performance (1 Day) – Finviz.com Safe ...
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 CAD(4X) followed by the AUD(3X) and the EUR(2X). The weaker currencies are the NZD(3X) with the JPY(3X) followed by the CHF(2X). By diversifying a nice combination can be traded in the coming week like e.g.: NZD/CAD with the AUD/JPY CAD/JPY with the EUR/NZD Ranking and Rating list Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. Every week the Forex ranking rating list will be prepared for the weekend. All the relevant Time Frames will be analyzed...
As tipped earlier, the yuan continues to cement its status as a high-yielding haven. Coming off its best month since revaluation, the onshore yuan rose to 15-month high on Monday amid tensions on the Korean peninsula, climbing 0.51% as of of 7:01 p.m. in Shanghai. As Bloomberg notes, “the currency climbed 1.35% last week, the strongest showing in CFETS data going back to April 2007.” That comes after the PBoC strengthened the fix by 0.37%, the most since August 10. Meanwhile, you already know the story with the offshore yuan. And that story hasn’t changed. In fact, the offshore yuan rose against the dollar for a 14th consecutive sessi...
EURUSD Non-Commercials reduced their net long positions in the Euro last week selling 1.5k contracts to take the total position to 86.5k contracts. While EUR continues to forge higher ground, demand has stalled at these levels as investors react to ECB’s Draghi who has warned over EUR strength working against the eurozone economy as well as reports that tapering could be delayed in response to recent strength in the exchange rate. Traders had been widely expecting the ECB to announce a further winding down of its QE program at its upcoming September meeting this week. However, in light of these recent comments and reports, it seems there is...
A lot can happen over a weekend, including Sunday’s provocative nuclear test by North Korea. Reports that the country is now preparing to launch a new ballistic missile threaten to keep the world on edge this week and beyond. The initial reaction in stock markets across Asia and Europe: sell, which is the standard game plan of late when North Korea injects itself into global headlines. The surprise factor, however, is fading, raising the question: Will investors learn to live with the Kim Jong-un’s menacing behavior? “Like a bad horror movie, the North Korea saga intersperses moments of calm, with occasional action to jolt you out of...
Having started off with a sharp gap lower following Sunday’s news of the latest, 6th nuclear test by North Korea, global stocks and US futures pared losses in the overnight session, despite reports of North Korean preparations for yet another missile launch, while the yen trimmed its risk-off gains even as gold kept its upside and the South Korean Kospi closing 1.2% lower, with traders asking whether “this time will be different:, or inversely, will today’s market reaction will be a carbon copy of what happened last Monday, when stocks gapped sharply lower on North Korea missile launch fears, only to surge 1% by the end of ...
from the St Louis Fed — this post authored by James Bullard The unemployment rate in the U.S. is relatively low by recent historical standards. Some people argue that this means higher inflation is just around the corner, which they cite as a reason for the Fed to raise the U.S. policy rate (i.e., the federal funds rate target). In my view, however, low unemployment readings do not appear to be an indicator of substantially higher inflation to come. Arguments that low unemployment will translate into high inflation are based on the so-called Phillips curve, which suggests that a negative relationship exists between the two variables. T...
Last Thursday’s signals were not triggered as none of the key support levels were reached during that session. Today’s BITCOIN/USD Signals Risk 0.75% per trade. Trades may only be entered up until 5pm New York time today. Long Trades Long entry after a bullish price action reversal on the H1 time frame following the next touch of $4400.00, or $4185.67. Place the stop loss 1 pip below the local swing low. Adjust the stop loss to break even once the trade is $50 in profit by price. Take off 50% of the position as profit when the trade is $50 in profit by price and leave the remainder of the position to ride. Short Trade 1 Short entry after...
Billionaire investor Warren Buffett turned 87 on Wednesday. And on the occasion, he shared a many investment tips in interviews. With Buffet’s Berkshire Hathaway Inc. BRK-B gaining over 108% over the last five years against the SPDR S&P 500 ETF’s (SPY – Free Report) advancement of 70.5%, it is many people’s dream to follow his investment ideas. Below we highlight some. Be Big on Bank of America Warren Buffett’s Berkshire Hathaway turned out to be the largest shareholder of Bank of America (BAC) by “exercising crisis-era warrants to buy 700 million shares at below-market price” and locking in an $11.5 billion...
Share markets in India ended the day on weak note tracking mixed global cues as markets remained jittery after fresh nuclear test by North Korea and claims that it tested a hydrogen bomb over the weekend. At the closing bell, the BSE Sensex closed lower by 190 points. While, the NSE Nifty finished lower by 62 points. Meanwhile, both the S&P BSE Midcap Index and the S&P BSE Small Cap Index ended down by 0.7%. All BSE sectoral indices ended the day in negative zone. Among them, realty index fell 1.4%, followed by information technology sector 1% and banking sector 0.8%. Overseas, Asian equity markets finished mixed as of ...