Companies just aren’t used to paying more for quality workers The Fed’s Kashkari chimed in on twitter in response to yesterday’s WSJ story about a ‘historic labor shortage’. He says that the ultimate guide to the tightness of the labor market is price. As in the price of work, or wages.
100 day MA for S&P at 2700.48 today The US major indices are trading higher today. We can thank a surge in subscriptions on Netflix for giving the stocks a boost. Netflix is up over 7% and around 70% in 2018. Technology shares are following the leader.
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Remains confined to the range The USDJPY moved lower over the last few trading days, after peaking on Friday. The move to the high last week moved above a small ceiling at the 107.45-49 area, but came back down. Yesterday there was a run up after the weekend developments but also came back down.
Williams in Madrid – Gradual hikes reduce the risk the economy could overheat – Outlook for US economy is very positive – Core inflation to hit 2% some time in 2018 We’ve heard this before from Williams.
USD/CAD is hanging by a thread USD/CAD has consolidated for the past five days after breaking down last week. Now the pair looks like it’s ready for another foray to the downside.
A move below increases the bearishness of the pair The EURUSD is breaking back below its 100 hour MA at the 1.23526 after the better than expected US housing starts/building permits data. The price is down sharply after rising to the highest level since March 28th earlier in the day. The next target on the…
German Dax up big despite weak ZEW economic sentiment index today The German ZEW economic sentiment index came in weaker than expectations, but that did not stop the German Dax from having a strong gain in trading today. It rose 1.64% and led the charge in the European indices today.
Matthew Mellon dead at 54 Making a billion dollars won’t necessarily make you happy or healthy. Matthew Mellon died yesterday at a rehab facility in Cancun, Mexico. He reportedly turned a $2 million cryptocurrency investment into Ripple into $1 billion but also had a long term addiction to painkillers.
And moves to within 100 pips of the SNB depeg level of 1.2000 Way back in January 2015, the SNB surprised the market and pulled the rug out of the pegging of the EURCHF at 1.2000 level. The price plunged (there are numerous lows). Three+ years later the price traded within 70 pips of the…