Drill baby drill Shale activity continues to ramp up but it has hardly dented oil. WTI was lower earlier today at $72.14 but has rebounded to $73.77.
Where markets are headed next I spoke with Dale Pinkert at Forex Analytix today about seasonals and where markets are headed. ForexLive
The long end sinks lower Barring a big turnaround today, the close in the 30-year bond will mark the lowest yield since January. It’s a message to the Fed that the inflation it’s worried about isn’t coming. It’s a sign that the Fed doesn’t need to worry about raising rates quickly and that it might…
Back into the neutral area… The EURUSD has backed off a bit as London/European traders head for the exits. France advanced. There is enough time to get home, head to the pub and watch Brazil vs Belgium in the 2nd game of today’s quarterfinal double header.
Brazil vs Belgium is the next match today. Brazil vs. Belgium will be the 2nd quarterfinal game today. It will start at 2PM ET/1800 GMT.
Closing changes for the main European bourses On the week: German stocks would still need to gain more than 8% to recover to the highs from the start of the year.
Carney to speak in Newcastle Bank of England Governor Mark Carney is slated to deliver the keynote speech at FinanceCamp on Thursday. Given the uncertainty around Bank of England policy, it will be a top event. His speech is listed variously at 0940 GMT or 1000 GMT.
Can the buyers squeeze higher or does overhead resistance stall On the topside though, the pair is running into some overhead levels. Looking at the 5-minute chart below, the spike higher on the jobs numbers has the 38.2% at 1.32526. That is also where the swing high from the London morning session comes in. The…
Fed on track for gradual hikes as they move to more neutral policy The US employment report showed unemployment rate rise to 4.0% but 213K new jobs were added (and +37K revisions). The wages were moderate at 0.2% but below expectations.
Dollar weakness continues helped by technicals Technically, the EURUSD broke above the 200 bar MA on the 4-hour chart yesterday (currently at 1.16734 on the chart above), held the area on a correction and moved higher. Bullish.