Dollar Break-Out
The dollar index violated the 2017 downtrend yesterday which could mark the beginning of the next upswing for the greenback.
Gold Update
Gold futures violated a longstanding downtrend resistance line yesterday as well as established above the $1235 resistance area; two bullish technical developments.
Key Gold Resistance Level
Gold has rebounded solidly this year but continues to stall at key resistance between $1220 and $1235. Until futures establish above that level, the outlook remains neutral with a downside bias.
Dollar Downtrend
Near term, the dollar index is in a steep down trend that began at the turn of the year. Longer term however, the broader trend in the market remains a bullish one for now.
The Oil Market: Then and Now
The Oil Market: Now and Then We have included in today’s report a chart that was featured in a Forbes article yesterday regarding the two main influences on the oil market right now: rising US output and OPEC/NOPEC production cuts. At first look, the chart suggests that using hindsight as a gauge, US production lags […]
Crude Oil Breakout
WTI crude oil futures broke out of a multi-week trading range yesterday and closed just shy of a new 2017 high as a sellers-strike continues ahead of data releases that could confirm (or discredit) proposed global output cuts.
Is the Yen Carry Trade Become A Headwind on Markets?
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: Is the Yen Carry Trade Become A Headwind on Markets?