Despite a rally back in the USD and the sudden recalibrated growth outlook for the world from Brexit, Commodities are picking up steam.
The attached chart shows a couple key aspects of how gold has traded in the last year or so:
Happy New Year?
Here are my market ramblings this morning as I look out over assets that are in free fall as China, Middle East tensions, and the reality that central banks can only do so much to take the place of organic growth and markets working through the excesses of years gone by:
With less than 24 hours to go until Thursday’s Fed meeting, the “Fast Money” traders highlighted some areas which could see a reaction.
Gold bugs finally found the strength to push gold slightly higher after 10 days of free fall this morning.
Markets under control despite resounding OXI from Greece yesterday. As we noted last night the price action is about testing the levels form last week and overall key levels for the indices and macro.
The spot price of gold formed an evening star Thursday – Monday sessions singling a return to the bottom of the trading channel.
The Fed walked a tightrope once again yesterday and today’s economic data missed slightly with May’s Core CPI at of 1.7% down from April’s 1.8% but we did see an improvement in Initial Jobs Claims down 12k to 267k.
The U.S. Commerce Department reported retail sales jumped 1.2% for the month of May and revised April’s read higher by 0.2%.
- Socialism with Chinese characteristics enters new era: XiSource: China.orgPublished on 2017-10-18
- Delegates to Party congress highly representativeSource: China.orgPublished on 2017-10-17
- Your first trade for Tuesday, October 17Source: Fast MoneyPublished on 2017-10-17
- Agenda set for 19th CPC National CongressSource: China.orgPublished on 2017-10-17
- Coming soon: Opening ceremony of the 19th CPC National CongressSource: China.orgPublished on 2017-10-17
- Beijing plans culture and tech integrated developmentSource: China.orgPublished on 2017-10-17
- All 38 delegations arrive in Beijing for CPC congressSource: China.orgPublished on 2017-10-17
- Chinese police repatriate ‘Red Notice’ fugitive to USSource: China.orgPublished on 2017-10-16
- In the battle between growth versus value, here’s what Mohamed El-Erian would pickSource: Fast MoneyPublished on 2017-10-16
- China announces new gravitational wave observationSource: China.orgPublished on 2017-10-16
- China to pilot lawyer mediation systemSource: China.orgPublished on 2017-10-16
- Xi calls on HK youths to serve HK, countrySource: Xi calls on HK youths to serve HK, countryPublished on 2017-06-30
- Socialism with Chinese characteristics enters new era: Xi