A closer look at Bitcoin and trading it In contrast John McAfee, the founder of the antivirus software, is a fan and sees at $500,000 by 2020. Some see Bitcoin as here to stay and an it can only gain in value, while others watch it as a strange, but interesting anomaly from the sidelines.…
July 2018 US ISM non-manufacturing index This won’t do anything to halt today’s slide in USD/JPY, which is now down to 111.15. Comments in the report: – “Business is strong in both our commercial-construction and residential-service areas.” (Construction)
USDJPY falls below 200 hour MA The USDJPY has fallen below its 200 hour MA line at 111.30. Earlier the price fell below the 100 hour MA and trend line turning the bias more negative.
Markit services PMI for July Composite index: ForexLive
Kudlow on Fox Business Months ago I expected the US was working on a strategy of putting together a ‘coalition of the willing’ on trade to take on China but it hasn’t come together quickly. Maybe a pivot will come after all, but the US hasn’t built up a lot of goodwill with allies.
Little changed after US employment shows steady job growth The major US stock indices are now open, and they have modest gains after steady job growth: In the US debt market yields are lower:
Unchanged from May The Dallas Fed’s trimmed mean PCE is a core inflation measure based on the Commerce Department’s price index for personal consumption expenditures. It strips out items that have shown especially large price movements in any given month.
The latest tracking estimate from the Atlanta Fed ” After this morning’s data releases, the nowcasts of third-quarter real consumer spending growth and third-quarter real private fixed investment growth declined from 3.4 percent and 5.9 percent, respectively, to 2.9 percent and 4.2 percent, respectively,” the release said. That was somewhat offset by larger inventories.
7 -weeks of chop The AUDUSD today moved toward the low of a “value area” where most of the trading has taken place in the pair over last 7-weeks of trading (see red box on the 4-hour chart below). That “value area” comes in between 0.7343 and 0.7443 – so about 100 pips.
Worries about a Canadian house price bust fade The Canadian housing market is one of those things that doesn’t make much sense. Prices are far beyond incomes and in the big cities price are out of control.