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%.
- Missing Chinese climber confirmed dead in TibetSource: China.orgPublished on 2017-11-18
- China honors founding scientist of FAST telescopeSource: China.orgPublished on 2017-11-18
- Xi shows great respect for two aged honoreesSource: China.orgPublished on 2017-11-18
- 5-magnitude earthquake hits TibetSource: China.orgPublished on 2017-11-18
- Beijing and nearby areas report more ‘good air’ daysSource: China.orgPublished on 2017-11-17
- Your first trade for Friday, November 17Source: Fast MoneyPublished on 2017-11-17
- Xi honors ethical role modelsSource: China.orgPublished on 2017-11-17
- Xi Jinping to raise China higher: Indian expertSource: China.orgPublished on 2017-11-17
- Aerospace expertise used to identify, track pollutionSource: China.orgPublished on 2017-11-17
- Drama helps reaffirm life for cancer patientsSource: China.orgPublished on 2017-11-17
- Nanjing Massacre survivor dies; 99 remainSource: China.orgPublished on 2017-11-17
- Wal-Mart has awaken, and Amazon should be worried: Former JCP CEOSource: Fast MoneyPublished on 2017-11-16
- Verizon in early stages of looking at 21st Century Fox’s assets: ReportSource: Fast MoneyPublished on 2017-11-16
- CNBC parent Comcast & 21st Century Fox merger a good idea?Source: Fast MoneyPublished on 2017-11-16
- Xi calls on HK youths to serve HK, countrySource: Xi calls on HK youths to serve HK, countryPublished on 2017-06-30
- Missing Chinese climber confirmed dead in Tibet