Big moves in euro pairs this week, particularly against AUD & Kiwi, so expect profit taking ahead of the weekend. Also note Merkel still not agreed a coalition following indecisive election last month. Markets have not reacted to this, and given today is supposed to be some kind of deadline for an agreement still plenty of time for lots of volatility.
With RBA & RBNZ both having rate decisions in next couple of days, always good to look at the cross, and AUD/NZD has some significant levels and volume on the longer term charts. Kiwi has been hugely bearish since announcement of new Labour govt, but this may now be overdone & the currency has been moving off the overbought region on the daily CSI.
Interesting article given the extent to which stocks have moved higher since Donald Trump's victory last year. Caterpillar is a stock we suggested would be worth looking at, and good to see it up at over $136. Will be writing another post in the coming days.
A missing piece in the global growth jigsaw appears to be falling into place. Spurred by higher profits and buoyant stock markets, some of the world’s best known companies from Amazon.com Inc. to Volkswagen AG are ramping up spending on new plants and equipment after years of caution. For an interna...
Only a week ago we were considering VIX at new lows, and despite a spike to 11 following words from NK index has fallen back to 10. Seems traders & investors not yet rattled by threats from NK. ... See MoreSee Less
It is said markets are moved by fear and greed, but I would suggest complacency and euphoria to be a better reflection of trader and investor emotion. VIX is certainly highlighting deep complacency, particularly if it stays in single figures, which it can do for some time.
My post from last week about US equities, and the only spanner in the works is Kimmie whose actions at the weekend also designed to spoil Chinese hosting of the BRICS event. Tomorrow's US opening should be interesting.
Watching hourly chart for gold & the USD index where precious metal is trading just above the VPOC at 1296.46 to the upside and 1289.41 to the downside. And although gold and index correlation has been a bit flaky recently, normal service appears to have resumed. ... See MoreSee Less
Recent move higher in oil prices capped at $50.84 per barrel (as per my MT4 daily chart). This is both today's and last Thursday's high for the commodity, but with price support at the 200 ma at $49.81 oil too seems to be waiting on the Wednesday's FOMC and some firm direction for the USD. ... See MoreSee Less
USD weakness not doing gold any favours at present with the metal likely to move back to test the $1300 per ounce region. However, we do have the 200 ma on the 4 hour chart for the metal so we should see some price support. And from a fundamental perspective this week's FOMC meeting is one to watch to see if the current divergence in USD/gold price action comes to an end or not. ... See MoreSee Less
Looking at this week's heatmap with the CSI & the extent to which NZD most beaten down of the currencies we track. Good news is that at some point kiwi will turn so providing a good reversal trade opportunity. ... See MoreSee Less