Crude Sells Off Towards $75/bbl

Crude futures are getting hit today despite the S&P’s resilience around 1100. Crude futures failed to break through our 2nd tier downtrend line and $80/bbl once again, and are reacting by dropping below our 1st tier uptrend line. Interestingly, crude is having a very noticeable negative reaction to another set of disappointing U.S. econ data [...]

Gold Rockets Towards $1175/oz

Gold is consolidating along our 3rd tier uptrend line as the S&P futures bobble around 1100 and the EUR/USD fluctuates between trend lines. The reaction to today’s U.S. GDP and Consumer Confidence releases have been relatively quiet thus far, implying that activity may be winding down in advance to the Thanksgiving holiday. Gold has responded [...]

USD/JPY Pulls Back Towards our 1st Tier Uptrend Line

The USD/JPY has undergone a sizable pullback after consolidating the past few sessions. America’s weaker than expected GDP data is leading investors to prefer the Yen over the Dollar as a safe haven, thereby sending the USD/JPY tumbling towards October lows. Meanwhile Finance Minister Fujii reiterated his concern surrounding the impact of deflationary pressures on [...]

GBP/USD Drifts Back Towards 1.65

The Cable is drifting lower towards its psychological 1.65 level after BBA Mortgage Approvals and Prelim Business Investment came in mixed. While business investment registered a modest improvement, mortgage approvals printed a bit weak. The moderation in mortgage approvals supports last week’s statements from Nationwide and Bloomberg concerning a slower than expected recovery in Britain’s [...]

EUR/USD Fluctuates Following Negatively Mixed U.S. Data

The EUR/USD was rejected by its psychological 1.50 level once again, and the currency pair is fluctuating between our 2nd tier uptrend and downtrend lines as activity wanes in advance of the Thanksgiving holiday. Today’s EU data releases were all positive with Germany’s Ifo Business Climate and EU Industrial New Orders topping analyst expectations. The [...]

Crude Continues Fluctuations Towards $80/bbl

Crude futures are continuing their consolidative behavior around the highly psychological $80/bbl area. Crude is popping from Friday lows in reaction to broad based weakness in the Dollar, and the S&P futures strengthening above their psychological 1100 level again. Meanwhile, gold is skyrocketing towards $1175/oz as investors divest from the Dollar and flock towards the [...]

The S&P Futures Knock on the Door of 2009 Highs

Another positive U.S. Existing Home Sales release is appeasing investors after Friday’s retracement below 1100. In addition to the positive Existing Home Sales number, investors are reacting favorable to another wave of encouraging EU Flash PMI data points. Furthermore, Fed members continue to support the anticipation that the central bank is not likely to raise [...]

Gold Rockets Towards $1175/oz

Gold is defying gravity and continues its incredible run despite fluctuations in the EUR/USD and AUD/USD. Gold continues to have a mind of its own and is rising rapidly regardless of comparatively limited participation from the precious metal’s usual correlative forces. Hence, there are clearly alternative forces driving gold higher. Ultimately, it seems that the [...]

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