January, 2012
Gold Remains Bullish
Gold is holding steady above $1,700 and the short-term target remains at $1,800. The easy money policies by the Central Bankers in the developed world provide good reason to continue to hold gold as an asset. The faith in holding any currencies is diminishing as the trust in the ability of governments to deal with [...]
Euro and Equities Retreat Today
The Euro versus USD continues its retreat after touching the initial resistance at 1.3230 which is also the 38.2 percent Fibonacci Retracement. Good support can be found around the 1.3060 – 1.3080 area. As cautioned in earlier articles, although Euro versus USD appears to be technically positive, the headwind from the European crisis makes it [...]
Forecasts for the Weeks of January 30 and February 6
Here are the forecasts for upcoming economic data.
GDP Growth Disappoints, Bodes Poorly for President Obama
Preliminary estimates indicate GDP growth was a disappointing 2.8 percent in the fourth quarter-analysts had expected 3.2 percent. A huge jump in inventories accounted for 65 percent of all growth, indicating perilous overstocking. Consumers are expected to pull back a bit in the first quarter owing to mounting credit card debt.
USD and Gold
The USD began retreating from last year’s late rally. The USD took another hit from yesterday’s Fed decision to extend a near zero interest rate environment until 2014. The Dollar Index is resting on support at around 79.00.
ECB Says No to Taking a Loss, Fed Extends Low Interest Rates Environment to 2014-End of Free Market
Debt talks in Greece are becoming more complicated as the ECB rejected suggestions of taking a loss in its debt holdings. Although the ECB purchased these debts at a discount and the restructuring of these debts is asking for a write-down from the bond holder to avoid a default, the ECB is refusing to take [...]
State of Dysfunction: Fairness, the Economy and Hypocrisy
In his State of the Union Address, President Obama hammered on two resounding themes-fairness and the economy. Both hollow from a president who has failed on the job. He has not kept his promise to get the economy going again, and inequities in income and opportunities have hardened during his tenure. Scratch the surface of [...]
IMF Sees Recession – Greek`s Debt talks Stall
Global equities retreated from last week`s rally after the IMF lowered global growth forecasts and a possible derailment of the world economy as a result of the European debt crisis. Global growth was cut from 4 percent to 3.3 percent. The Eurozone is expected to enter a mild recession and the outlook in the U.S. [...]
Romney’s Bain experience wasn’t an asset with South
Mitt Romney lost South Carolina by failing to convince voters he has the character and platform to turn the country around. South Carolinians, burdened by shuttered factories, high unemployment and vanished dreams, keenly see problems. Large corporations, sitting on $2 trillion in ready cash, invest too little in American jobs, and instead move production and [...]
South Carolina’s Verdict: Romney May Be No Better than Obama
Mitt Romney lost South Carolina by failing to convince voters he has the character and platform to turn the country around. South Carolinians, burdened by shuttered factories, high unemployment and vanished dreams, keenly see problems. Large corporations, sitting on $2 trillion in ready cash, invest too little in American jobs, and instead move production and [...]
Top News
- Ford to end auto production in Australia in 2016 May 23, 2013SYDNEY (AP) — Ford Motor Co. said Thursday it will close its two Australian auto plants, ending production in the country in 2016, amid soaring manufacturing costs and plummeting sales. […]
- Asia stocks down as China factory output slips May 23, 2013BANGKOK (AP) — Asian stock markets fell Thursday, weighed down by a contraction in China's manufacturing that adds to signs a shaky recovery in the world's No. 2 economy is slowing. […]
- China HSBC flash PMI hits 7-mth low, fans growth fears May 23, 2013By Aileen Wang and Koh Gui Qing BEIJING (Reuters) - China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary survey of purchasing managers showed, adding to concerns that a recovery in the world's second-largest economy is sputtering. The flash HSBC Purchasing Managers' Index (PMI) for May fel […]
- Survey shows China manufacturing contracting May 23, 2013BEIJING (AP) — A survey shows China's manufacturing contracted this month, adding to signs a fragile economic recovery is slowing. […]
- Investment firms sue exchanges in dispute on improper fee charges May 23, 2013By Nate Raymond (Reuters) - A group of investment firms including Citadel Securities LLC sued the Chicago Board Options Exchange Inc and four other exchanges on Wednesday for improper charges on millions of options trades over a seven-year period. The lawsuit, filed in a state court in Illinois, said the exchanges had discovered last year that a prominent fi […]