News the IRS targeted conservative groups for intense scrutiny is just one in a series of revelations pointing to a culture of expediency and intolerance in the Obama White House that corrupts this administration. Consider the September slayings of Ambassador Chris Stevens and three other U.S. diplomats in Benghazi. If the attack were revealed to [...]
AUD/USD broke major weekly support line at 101.50 late last week. It looks like the currencies pair major technical correction is under way. The first initial target is 0.9886, the 23.6 percent Fibonacci retracement. The final target of this correction is 0.9143 the 38.2 percent Fibonacci retracement.
Fresh evidence is emerging that the U.S. economy is slowing in the second quarter. Stock prices continued to slide as earnings disappointed, and the Conference Board’s index of leading economic indicators pointed down.
Yesterday, Italy`s election resulted in more uncertainty in the Euro zone, the Euro/USD collapsed to the low of 1.3017 at the time of this article. At this stage in the economy, the markets are looking for “leadership” from the government. Everyone is aware that the economy is in bad shape but that is not the [...]
Friday, forecasters expect the Labor Department to report the economy added 155,000 jobs in December-substantially less than is needed to pull unemployment down to acceptable levels. The tax and spending package passed by the Senate and House provides little prospects of improvement, as the U.S. economy continues to suffer from insufficient demand and will continue [...]
Washington has always made lots of things-bureaucratic regulations and hot air to name two-and it even prints money that instigates inflation. Now in the names of fairness and fiscal responsibility, President Obama and Speaker Boehner are cooking up a deal to avert the fiscal cliff that could easily thrust the economy into a deep recession.
Gold is testing $1,671, the 38.2 percent Fibonacci support at the time of this article. Despite the low interest rate policies by all the major Central Banks around the world, the commodity failed to rally. The technical triple top scenario is playing out nicely so far, with the first target reached. I am still hoping [...]
As a parent and educator, I want children safer from gun violence. However, we should seek measures that work-not those that needlessly abridge personal liberties without producing significant results. Whatever we accomplish should not be at the expense of raising children to be secure and capable adults. Skepticism about tighter gun controls is understandable. Connecticut [...]
Last week’s ECB hint on further rate cuts and lower growth forecasts in the Euro zone evaporated hopes for a continuation of a Euro rally. The Euro/USD has been trading in a range between 1.2800 and 1.3000 for the majority of the last two quarters. In late November the currency pair rallied above 1.3000 on [...]
Euro/USD was advancing nicely above the 1.3000 resistance until U.S. House speaker Boehner said there has not been any substantial progress in the fiscal cliff talks. The currency pair quickly retreated to the 1.2940 support level. From the reaction of the markets on the latest news headlines, it looks like currency pair wants to move [...]