Monica Kingsley
Monicakingsley
Yet another tight range, low volume S&P 500 day was good enough for slow extension of clients‘ swing gains, and for quick intraday ones too. What should be a disappointment for every tech investor, is the reaction to yesterday‘s batch of earnings, especially in light of retreating yields. This analogically applies to precious metals stabilization and oil still keeping above my key support given to clients.
Once we have Friday‘s closing prices, you can look for my nearest, weeekend analysis (I‘ll only tweet if anything extraordinary during Friday) – wishing you a Happy Thanksgiving!
All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
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EUR/USD retreats from tops post-US PCE, back near 1.0540
The bearish sentiment in the US Dollar remains in place and supports EUR/USD's constructive outlook, keeping it in the 1.0540 region after the release of US inflation data, as measured by the PCE, on Wednesday.
GBP/USD recedes to 1.2640 on US PCE data
GBP/USD remains positively oriented in the 1.2640 zone as the Greenback experiences a marked pullback following the PCE inflation release.
Gold remains sidelined near $2,640 following US inflation prints
Gold remains on the positive foot near $2,640 per troy ounce, as US inflation data matched initial estimates in October, while US yields display a negative performance across the curve.
The clock is ticking for France
A French political problem is turning into a problem for financial markets. The budget deficit in France is 6% of GDP, if the planned reforms are not enacted, then the deficit could rise to 7% of GDP next year. This is the level when bond vigilantes start to sniff around.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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