Metals trended lower today given the upcoming FOMC meeting, a rally in the stock markets and increase in the USD. All metals fared similarly down between 1/2 to 1%. Silver is getting down near a long term support, approaching $16, which could be a good entry point for bulls as the white metal has traded between $16-$17 since the beginning …
Lower Loonie?
Recent talks of tariffs and trade wars have the relationships with the US Dollar moving around again. Canada is one of the United States biggest trading partners, and the number one spot for U.S. agricultural exports. Anytime we have seen a hint of that relationship interrupted, the Canadian Dollar tends to weaken against the U.S. Dollar. On top of the …
Gold Giving Back Yesterday’s Gains
The trading day started with digesting the news of the departure of Trump’s economic adviser Gary Cohn, stepping down from his post last night. Gold opened above yesterday’s close on safe haven demand as the spooked equity markets opened lower on trade war fears amid the turmoil in the economic adviser post. Gold initially started trading upwards after the open, …
Gold Testing Major Resistance
Gold fell on continued support for the U.S. dollar and a rally in the equity markets. The equity markets opened lower on tariff and Italian election fears but shook this off and rallied back into the afternoon. The U.S dollar had much the same experience starting lower and moving higher into afternoon trading. The yellow metal traded right around its …
Gold Settles at 2018 Lows and then Rallies
Gold fell today hitting weekly lows and settling at the lowest level since the end of 2017. After settlement, trading swung back in gold’s favor erasing the losses for the trading session. This was due largely from the tariffs announced by President Trump on aluminum and steel. The tariff news hit the U.S. Dollar dropping it into negative territory, with …
Why Gold Is Not Benefiting From Being a Safe Haven
Many will wonder with all the market turmoil why the price of gold futures has not also risen commensurately over the last few sessions. The issue here is with the pressure of the U.S. Dollar. As the currency of last resort, the U.S. dollar has seen recent strength as global equity markets tanked on Friday and Monday. While the equity …
PER-THANKSGIVING Chart Outlook
Let’s give Thanks, confidence in System? Change, FRB Yellens’ natives getting restless? Yield curve flattens. 2 year i rate closer to tens before yearend, .60-ish Is this this markets players ready to blow or maybe flip, long bonds like in Summer 2016 at highs? My diary had a $40.5bil player flip long at those 2.08% all time lows in rates …
Long on events , short on reactions
Lots on the agenda If you looked on the calendar today, you might have seen the following schedule; ECB Decsion, UK Vote, Comey Testimony. All had the potential to send the markets on a run, in either direction. At the end of the day the markets didn’t look too much different than any other session. ECB Holds Steady The European …
Absolute Momentum Strategy – Weekly Snapshot
Below is a snapshot of open trade positions in the Absolute Momentum Strategy investment. The total open trade equity in the portfolio inclusive of fees and commissions as of the close of trading on Friday, April 14th, 2017 = $8,733.75 LAST WEEK IN TRADING Long Term Commodity Trader click to enlarge Long June 30 Year Bond was entered at 152.14 on …
Walsh Asset Management – Weekly Snapshot (3/31/2017)
Below is a snapshot of open trade positions in the Absolute Momentum Strategy investment. The total open trade equity in the portfolio inclusive of fees and commissions as of the close of trading on Friday, March 31st, 2017 = $2,487.85 LAST WEEK IN TRADING Long Term Commodity Trader click to enlarge Long June Australian Dollar was entered at 0.7725 on 3/20/17. …