Markets ended relatively flat today with the Dow closing lower by 0.17% or down 21.68. The S&P also closed lower by 0.08% or down 1.14. In the FX markets the dollar lost some ground against the majors. The dollar index is trading lower at 81.30 from the high of 81.80. The Euro, British Pound, Japanese [...]
Euro/USD recent rally stalled near the 23.6 percent Fibonacci retracement at 1.2637. It is doubtful that the currency pair will make further gains without real actions from the European authorities; words alone will not be enough.
The FOMC minutes released today show the policy makers are willing to provide further easing if the economy does not pick up. Markets erased some earlier losses as hopes for additional stimulus down the road.
Gold and Euro rallied today on optimism on hopes of ECB bond buying.
Since the crisis in the Eurozone, the Euro has been sold off against other currencies. The Euro is holding steady as a result of a quiet month in August and the lack of market expectations of any new developments from Eurozone until September 12.
According to an SEC filing for the second quarter of 2012, Soros Fund Management doubled its stake in the SPDR Gold Trust and Paulson & Co increased their holdings by 26 percent.
Better than expected German and French GDP numbers conflicted with horrible trade data from China earlier this week and failed to spark any movement in the markets. The lackluster performance in the markets can be attributed to most traders being on vacation during the month of August. Markets are expected to be quiet until September [...]
A Smart Choice by a Savvy Executive Hold your breath America. Governor Mitt Romney has picked a running mate who could make him president. Congressman Paul Ryan complements Mr. Romney’s private sector expertise wonderfully. He has a clear and concise plan to fix the federal budget, and as I count electoral votes, he could put [...]
Here are the forecasts for upcoming economic data.
President Barack Obama and Congressional Republicans are engaging in dangerous brinksmanship. Putting off addressing the fiscal cliff until after the election risks a second Great Depression.