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%.
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- Judicial efficiency improved through reform: top courtSource: China.orgPublished on 2017-02-27
- Final Trade: MOS, FL & moreSource: Fast MoneyPublished on 2017-02-27
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- Health care best Trump trade?Source: Fast MoneyPublished on 2017-02-27
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- Beijing-Tianjin-Hebei region to build one-hour commuting circle