Oil
IRS and Associated Press Scandals Are a Failure of Presidential Leadership
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 Technical Correction has Begun
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 Spring Swoon Grips the Economy
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.
Euro – Trying to Stay Above 1.3000
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 [...]
Budget Deal Will Push Up Unemployment
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 [...]
Emerging Fiscal Cliff Deal Could Push Economy into Recession
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 Continues Technical Correction – Pay Close Attention to the U.S. Treasuries
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 [...]
Gun Rights, Safer Children and the Culture Wars
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 [...]
Is the Euro/USD Short Rally Over?
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 [...]
Boehner Halted Euro/USD Advance
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 [...]
Top News
- Politics, bribery charges swirl around Ugandan oil May 18, 2013KAMPALA, Uganda (AP) — Even before the first drops flow, Uganda's oil sector is beset by bribery allegations against officials, tax-related cases abroad that cost the government millions in legal fees, and the alleged interference of a president whose firm control of the sector worries transparency campaigners. […]
- New Xbox more than a game console for Microsoft May 18, 2013By Malathi Nayak and Bill Rigby SAN FRANCISCO/SEATTLE (Reuters) - Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight years after the last version, as it seeks a larger share of the $65 billion a year global computer gaming industry. But the small device faces some big competition from the P […]
- Google's wearable Glass gadget: cool or creepy? May 18, 2013By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google staged four discussions expounding on the finer points of its "Glass" wearable computer during this week's developer conference. Missing from the agenda, however, was a session on etiquette when using the recording-capable gadget, which some attendees faithfully wore everywhere - including t […]
- LATAM Airlines to resume Argentina flights later Saturday May 18, 2013SANTIAGO (Reuters) - LATAM Airlines Group SA said on Saturday it will resume flights to, from and within Argentina by 1530 GMT after state company Intercargo unilaterally decided on Friday to stop providing services to the carrier. Argentine state company Intercargo manages services for the loading and unloading of luggage on airplanes, the transportation of […]
- Bernanke upbeat on innovation outlook in commencement address May 18, 2013WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday for the potential of innovation to lift living standards, delivering a sweeping look at the last 100 years that included memories of his 1963 South Carolina home. Bernanke made no reference to monetary policy or the immediate outlook for the U.S. economy in pre […]