Bitcoin stretches to high of $8290.99

Hard to keep the cryptocurrency downA week ago (on Monday), bitcoin fell to a low of $5605.  Today bitcoin traded to high of $8290.99.From low to high that is $2,685.99On a % basis the rise from the low was equal to a gain of 47.9%.Technically, the price last week moved back above the 100 and 200 […]

Since Congress is on recess this week

Fewer headlines, fewer worries? Is the slow climb in the dollar today a sign of things to come? The main thing is that it’s going to be a slow news week. Congress is on recess until next week and the economic calendar is light, especially in the United States. This is a market that loves […]

Gold May Reverse Based on Key Shift In Sentiment

Spot Gold: Retail trader data shows 72.7% of traders are net-long with the ratio of traders long to short at 2.66 to 1. The number of traders net-long is 10.0% lower than yesterday and 21.1% lower from last week, while the number of traders net-short is 4.4% higher than yesterday and 20.8% higher from last […]

USDJPY tests trend line and the 38.2% retracement.

Inches higher and higherGold is lower. Stocks are higher and steady. Interest rates are higher.  All are helping to keep the USDJPY supported and it inches higher in trading today.However, we are also approaching a topside trend line, 38.2% and a swing area from last weeks trading at the 112.65 area.  Just above that is […]

Yellen to quit. Won’t stay on as governor

Yellen will quit when Powell is sworn in Yellen announces she will leave the Fed board when her successor is sworn in. She had the option to continue as a Fed governor until 2024. In her announcement, she said she is ‘gratified’ by the economy’s progress since she was sworn in and promised a smooth […]

ECB said to plan small, incremental approach to guidance in 2018

ECB likely to take small steps The ECB will make multiple small adjustments to policy news year, rather than any single big shifts, according to ‘Eurozone officials familiar with the thinking of policy makers’ cited by Bloomberg. The gradual changes in communication and purchases will be similar to the gradualism Draghi has been preaching. The […]

BOE dove Ramsden coming up next

David Ramsden speaks at King’s College in London Ramsden, along with Jon Cunliffe were the two MPC members who voted to hold rates unchanged earlier this month. Ramsden speaks at 1830 GMT (1:30 pm ET). It’s highly likely Ramsden will be dovish again today, he’s probably the most-dovish MPC member. He has said he still […]