MA and 38.2% slowing the rise Yesterday, crude oil moved sharply higher on the back of news that Saudi Arabia will keep production in July near June levels and they expected to oil exports to drop in August (so unlikely to raise production). The price moved to the 38.2% and stalled.
Trump says he’s playing with the bank’s money Trump got the expression wrong today but the point he made is clear. The stock market rally since his election victory gives him the opportunity to be more aggressive in his trade war with China and other countries, he said today.
Bullish above/Bearish below 0.6805 area The NZD was the weakest currency yesterday and the NZDUSD tumbled below the low from July 13th. The momentum faded though and the pair started to correct.
Says it doesn’t look like their will be major progress ForexLive
Fear about more tweets? The President isn’t very popular with US dollar bulls in the past two days. In back-to-back attacks on the Fed, rates and even dollar strength itself, Donald Trump has hurt the currency.
More Trump helping CNBC is now saying that Pres. Trump is worried the Fed will hike twice this year. His advisors say that the Fed is doing the right thing, but that does not always work in curbing the President’s conviction.
Below an old swing area after waffling above and below this week Adam posted that the CHF is the strongest of the major currencies vs. the USD. The pair closed a week ago around 1.0015. The price is down at 0.9945. That is not a heck of a lot of pips but it was enough…
Some action in Bitcoin Bitcoin prices jumped 2.5% higher today only to be promptly followed by a 4% drop in volatile trading. There were no headlines behind it but now there is the usual ‘pump-and-dump’ talk and manipulation talk. It’s a market that’s grown very paranoid, even by crypto-crowd standards.
Weekly oil and gas rig count from Baker Hughes Drillers slow down for a week, it’s the first dip after three increases.
Canada keeps its top rating Canada has a top rating from all the ratings agencies. Fitch cited Canada’s “political stability, strong governance and institutional strengths” and sees growth of 2.0% this year before trending to 1.6% in 2020. The see the BOC following a more gradual path than the Fed on rates.