Goldman CEO-in-waiting is a DJ in his spare time Goldman Sachs president David Solomon and soon-to-be CEO is a DJ in his spare time and released his first single this month. It’s a remix of the Fleetwood Mac song Don’t Stop.
Tests 61.8% retracement The USDJPY is moving away from its 200 day MA after breaking above earlier on the CFIUS/trade headlines (thought to be less harsh?). That MA comes in at 110.189. The low for the day reached 109.69
Dollar reaching highs as London/Europe looking toward the exit The European stocks have ended the day higher. A lower EUR and GBP are helping the move higher:
Cable dragged lower by US dollar strength Cable is at the lows of the day, down 75 pips to 1.3150 as the US dollar catches a bid follow better trade data and some positive signs in durable goods orders.
Oil climbs to the best levels in nearly four years Oil is at the highest since late-November 2014 despite the continued rally in the US dollar. It’s all about inventories today as the weekly numbers showed a tightening situation in the US.
Retaliatory tariffs from EU increases costs for the iconic American brand Pres. Trump continues to whip on Harley-Davidson by tweeting: Of course the retaliatory tariffs from the EU on Harley-Davidson and a more global business, makes the production in the EU more economical for the iconic American company. Making goods abroad is just natural if…
Breaks below swing lows from Oct/Nov/Dec 2017 The NZDUSD has moved to new 7 month lows and in the process has moved below swing lows in the 0.68159-22 area. Those swing lows were in October, November and December 2017.
Chief Economic advisor speaking about China Kudlow adds: Whether CFIUS is “less harsh” or not is open to interpretation. If a committee is to decide on the merits of a China action, it seems to me that anything can be be given a thumbs up or thumbs down at any time.
Still a healthy number for the 2Q The Atlanta Fed GDPNow estimate for 2Q GDP growth is at 4.5% in its current model estimate. That is down from it’s last estimate of 4.7%.
CAD not impressed with the oil surge, but will it? The USDCAD is trading at a new session low and in the process is back below the 100 hour MA at 1.3300. The price is currently trading at 1.3278. The new session low just reached 1.3277.