October, 2012
Gold Holding Above $1,700 and Euro/USD Stronger
Since topping out at $1,800 earlier this month, gold has been retreating with a possible triple top scenario. The confirmation of this technical triple top has not materialized because the $1,700 support has been holding for the past 7 sessions. Resistance levels are at $1,740 and $1,766. Euro/USD support held at 1.2880. The currency pair [...]
Unemployment Expected to Rise in Final Pre-Election Jobs
Friday, the Labor Department is expected to report the economy added 125,000 jobs in September and unemployment increased to 7.9 percent.
Euro and Gold lower as New York Facing Sandy
Most U.S. markets are closed today as the biggest storm in a century is hitting the East coast of United States. The Europeans are still dealing with their own financial storm. The latest unemployment in Spain was 25 percent, which means one out of four people is out of work, the data is beyond “bad”, [...]
Economic Impact of Hurricane Sandy
Hurricane Sandy will have a devastating impact on life and property. However, gauging its ultimate impact on an economy-still struggling to overcome the Great Recession but with substantial resources to overcome adversity-is far more complex than merely adding up insurance payouts and uninsured losses.
Forecasts for the Weeks of October 29 and November 5
Here are the forecasts for upcoming economic data.
Outdated HKMA Policies Hurt Hong Kong
The Hong Kong Monetary Authority has been intervening to keep the HKD within the bottom of the established band of 7.75. In recent days, the strengthening of the RMB is causing a lot of hot money flow into the HKD. The interest rate in Hong Kong is basically at zero, which in theory would make [...]
Little Reaction to FOMC
No surprises coming out of the two days of FOMC meetings. The Federal Reserve will continue to keep rates low and stimulus in place. At the time of this article, there was little reaction to the Fed’s decision. The Euro/USD was slightly lower from previous day because of poor German data; gold is testing the [...]
Third Quarter GDP Indicates Little Hope for Better Times
Obama’s Economic Giveaways Good Politics but Risk Recession Friday, economists expect the Commerce Department to report the economy grew 1.9 percent in the third quarter, continuing a subpar recovery that began in July 2009.
Spain Contraction – Markets Lower
Markets are moving lower on the continuing contraction of Spain’s economy. The nation’s credit rating is just one grade above junk status. Despite the worsening conditions in Spain, the country has not yet requested a bailout, which the markets are waiting for.
Earning Reports Hurting Markets – Gold Triple Top
The latest round of third quarter corporate earnings reports have been disappointing the markets both in failing to beat estimates and lower future outlooks. The S&P 500 is on pace for a three day decline and is about to test support at 1,420. Besides corporate earnings concerns, the United States Presidential election and the uncertainties [...]
Top News
- 'Trek' does $70.6M but falls short of studio hopes May 20, 2013LOS ANGELES (AP) — "Star Trek: Into Darkness" has warped its way to a $70.6 million domestic launch from Friday to Sunday, though it's not setting any light-speed records with a debut that's lower than the studio's expectations. […]
- On fleeting Hong Kong trips, Chinese make frugal fashionable May 20, 2013By Donny Kwok and Lavinia Mo HONG KONG (Reuters) - Armed with empty suitcases and same-day return tickets, an army of mainland Chinese is descending on suburban outlet shopping malls and international fashion chains in Hong Kong, turning cheap into the new chic as luxury falls out of favor. Wealthy Chinese used to stop over in Hong Kong for a few days to pic […]
- Yen edges up from lows, Asian shares firmer May 20, 2013By Masayuki Kitano SINGAPORE (Reuters) - The yen pulled up from a 4-1/2 year low against the dollar on Monday after Japan's economics minister said a further steady drop in the yen could have negative effects on households, pushing the dollar to a low of 102.00. "People say the excessively strong yen has corrected quite a bit. If the yen continues […]
- Consumer group flags high SPF ratings on sunscreen May 20, 2013WASHINGTON (AP) — Sunbathers headed to the beach this summer will find new sunscreen labels on store shelves that are designed to make the products more effective and easier to use. But despite those long-awaited changes, many sunscreens continue to carry SPF ratings that some experts consider misleading and potentially dangerous, according to a consumer wat […]
- Analysis: High speed trading a stiff challenge for U.S. regulators May 19, 2013By Christine Stebbins CHICAGO (Reuters) - Financial trading in world markets has grown so lightning-fast that effective regulation is growing tougher by the second, increasing the threat of crashes sparked by hoaxes, electronic glitches or yet-unknown causes. The latest alarm was triggered by a fake tweet saying that the White House was bombed, prompting a U […]