U.S. Dollar fails to form a higher top against Japanese Yen but we can see the indicators show us an upwards direction like RSI , which breaks 50% level and continues upwards, MACD crosses the signal line pointing up and Bollinger band gives us a bullish signal by closing the…
Several confidence measures in the United States have returned to the levels they held before the great financial collapse last fall. Do they presage an impending economic recovery? US Consumer Confidence readings from the Conference Board and University of Michigan have pulled out of their deep post September troughs. The…
The Euro reached a high at 1.4339 Thursday, its best level since January’s high at 1.4363 and on the ECB’s Effective Exchange rate it is not too far off the all-time high of 2008. The 1.4200 area is the 50% retracement of last year’s losses and coincides with a large,…
Market participants will keep a close eye on this week’s economic data releases and government bond auctions to establish whether confidence in the prospects for recovery and the sharp rise in government bond yields is sustained. Considering the still fragile economic backdrop, characterised by rising unemployment and weak lending growth,…
The release of the Bank England’s Inflation Report in May showed that it expected the economic downturn to be steeper and to last longer than it projected in the February report. This view was echoed in the latest consensus forecasts for the UK, also released in May. The expectation in…
The Fed’s Beige Book is likely to state that the pace of economic contraction has slowed, even though manufacturing activities have remained weak. Given the improvement in pending and existing home sales, the Beige Book could say that conditions on the housing market are continuing to stabilize, albeit still at…
Although EUR retains its broader medium term uptrend triggered off the 1.2456 level in early Mar’09, its price action the past week has halted that uptrend temporarily having printede a rejection candle and closed lower on Friday. Bias remains to the downside for the continuation of that nearer term downtrend…
German industrial new orders, which had soared unexpectedly in March, are likely to have suffered a setback in April. Although most of the correlated climate indicators improved, machinery orders plummeted, according to VDMA, the German Engineering Federation.
Nonfarm employment declined significantly less than expected for the second month in a row. The decelerating trend of job losses now looks encouraging and the modest improvement is consistent with the most recent weekly unemployment claims data. That said, we are truly in some sort of alternative universe when a…
This week kicked off by creating yet again, another piece of history, as the world’s largest automaker went bankrupt. GM is the largest manufacturer, and the third largest company to seek bankruptcy protection in the U.S., and comes just one month after fellow Detroit-automaker Chrysler landed itself in the same…