June, 2012
Euro/USD Rallied on EU Summit-Maybe Short Lived
News out of the EU summit that the European banks will be recapitalized sparked a global rally in equities and commodities. The USD was sold off and Euro/USD broke through some major resistance levels as shorts were exiting.
Supreme Court Decision May Hasten Single Payer System
The Supreme Court decision upholding the Affordable Health Care Act requirement that individuals purchase health insurance or pay a tax, as well as most other provisions regulating the health insurance market, may ultimately instigate a single payer system, akin to the British National Health Care Service.
Euro/USD Reaches First Target
Euro/USD reached its first target at 1.2400 today before the EU summit. It is doubtful that this latest EU meeting will achieve anything meaningful and the Euro/USD will remain under pressure. It is impossible to have monetary union without a fiscal union in the Euro region. The obstacle in a fiscal union implies a political [...]
EU Summit: Further Integration Won’t Fix Club Med States
Spain, Italy and Others Should Radically Restructure Debt and Exit Euro EU leaders are considering radical reforms to restore confidence in the euro and the finances of Mediterranean states. These reforms and relief efforts for troubled governments are doomed to fail, and it would be better for these states to radically restructure sovereign debt now [...]
Euro/USD Might be Over Sold
There is no strong follow-through to the downside after Euro/USD broke 1.2500. The pair is trading around the 1.2500 area at the time of this article after rebounding from a low of 1.2440. The failure of a deeper depreciation of the Euro/USD, after 1.2500 was broken, clearly indicates a very crowded short Euro trade even [...]
Euro/USD Still Under Pressure and Gold as a Hedge
Euro/USD continues to head lower as the Eurozone problems deepen. The currency pair is eyeing 1.2400 as the first target.
Technical Updates for Euro/USD and Gold
Euro/USD is testing a small trendline support at 1.2560 at the time of this article. This trendline support was drawn from the recent low of 1.2275 on June 1, before Euro/USD rebounded, to 1.2743, after the Greek elections. After 1.2560, support levels come in at 1.2400 and 1.2340. Resistance levels are at 1.2640, 1.2759 followed [...]
Dismissal of UVA President Sullivan Was Justified
Higher education is in crisis, and leaders like recently dismissed University of Virginia President Teresa Sullivan bear a heavy burden of responsibility, simply put, for not effectively leading.
Fed Continues Operation Twist
The Federal Reserve announced today that it will extend its “Operation Twist” through the end of the year. The Fed will be selling $400 billion of short-term debt and replacing with an equal of longer-term debt. The Fed’s action was expected by the markets but the hope of QE III did not happen. The Euro/USD [...]
Top News
- Bernanke signals Fed to maintain stimulus efforts May 22, 2013WASHINGTON (AP) — Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs. […]
- Analysis: As economy strengthens, a bonds sell-off may beckon May 22, 2013By Ellen Freilich NEW YORK (Reuters) - The U.S. government bond market has weakened in recent weeks but some investment strategists fear that this may only be the beginning of an extended sell-off. They point to the relative strength of the U.S. economy with the labor market stronger than anticipated, retail sales rising and consumer sentiment climbing to it […]
- EU leaders discuss fight against tax evasion May 22, 2013BRUSSELS (AP) — European Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations' tax avoidance schemes. […]
- Fiat Industrial says 500 million euro tax loss reports false May 22, 2013MILAN (Reuters) - Italy-based truck and tractor maker Fiat Industrial said reports that Italy would lose more than 500 million euros in tax receipts as a result of its moving fiscal domicile to the UK after a merger with unit CNH were absolutely false. According to U.S. stock exchange regulatory filings dated May 14, Fiat Industrial aims to be treated as a U […]
- Boeing expects 787 battery retrofits done by next week May 22, 2013WASHINGTON (Reuters) - Boeing Co is 90 percent finished with retrofits of the battery system on its 787 Dreamliner and should finish the rest by next week, Ray Conner, president of the company's commercial airplane division, told an investor conference on Wednesday. Conner told the conference he saw "great momentum" on the 787 program, after o […]