May US new home sales Housing has been in a bit of a rut this year but this is a nice bounce, even if those regional numbers are all over the place.
S&P 500 down 19 points at the open Is it a dip? Or a buying opportunity? The S&P 500 fell below last week’s low with a 19 point drop to 2735 at the open. Note that it’s the final week of the month and the quarter today so that could make for choppy trading.
Sakurai in Rome Bank of Japan board member Makoto Sakurai is in Rome and used the occasion to remind everyone that miniscule unemployment doesn’t necessarily mean wage growth. Economists dismiss Japan out-of-hand because it doesn’t fit the models but the models aren’t working particularly well anywhere.
Not bad You never hear about Austria but it sounds like the economy is doing pretty good there.
The moves so far are modest AUD/USD is down about 50 pips but that doesn’t even erase Friday’s gain. Every time there is a trade headline, a bit of fear comes into the markets but the best trade in the past few months has been to fade the worries.
China’s central bank lowers amount some banks must hold The PBOC cut the required reserve ratio for some banks on Sunday by 50 basis points in a move to boost lending to smaller firms.
Forex news for North American trade on June 22, 2018 – Canada retail sales for April -1.2% vs. 0.0% expected Markets: – WTI crude up $3.68 to $69.22 – Gold up $3.07 to $1270 Trump sent a shock through markets with a threat to impose 20% tariffs on autos from the EU unless European tariffs…
Huge election for Turkey and emerging markets A 20% drop in the lira this year frames today’s election in Turkey as President Tayyip Erdogan tries to strengthen his grip on power as the economy struggles.
Dow’s first rise after 8 straight down days The US stocks are ending the day mixed despite some more concerns about trade. Trump threatened to slap a 20% tariff on European cars coming in the US. The EU has a $44.9b auto surplus with the US. That is a big industry for the EU. Trump…
There’s gotta be more to this story The story of the demo trader who was trading with real money came out a couple days ago and I can’t shake the feeling that we’re not getting the whole story.