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  1. 71% of Americans Think the Economy is...

    about 1 hour ago
    Zero Hedge
  2. Silver Confirms Gold’s Breakout As...

    about 1 hour ago
    Silver Doctors
  3. How Quickly Things Changed

    about 1 hour ago
    Wall Street Examiner
  4. Stocks To Watch For Thursday

    about 2 hours ago
    Momentum Trading with RaginCajun
  5. "The British Woke Up!" Paul Craig...

    about 2 hours ago
    Zero Hedge
  6. Trump Plans To Have Tyson, Ditka, ...

    about 3 hours ago
    Zero Hedge
  7. The Italian Job

    about 3 hours ago
    HF Implode
  8. Brexit Aftermath - Here's What Will...

    about 3 hours ago
    Zero Hedge

Trade Idea of the Day Presented by: Wall Street Examiner

New Cycle Projection on Gold

Gold has yet to break resistance but a new 13 week cycle projection suggests that it will. This is a bulletin to update Monday's report. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition Precious Metals Pro Report risk... Read More

Draghi Warns Brexit Will Lead To "Competitive Devaluations", Years Of Low Growth

Despite ECB's Nowotny explaining earlier that "markets are getting more quiet" and that "Brexit has virtually no impact" on his economy, documents seen by Bloomberg show that Mario Draghi is extremely concerned. Warning of years of slowing growth due to Brexit, Draghi stated that if U.K. goes into recession the effects would be immediate on the euro area. Draghi further noted he's concerned by reactions of countries trying to correct with what they view as wrong exchange rates because this could start competitive devaluations and may increase risk premiums and turbulence. Concluding that the ECB would do everything necessary ...

What Is The Source Of Today's Buying Panic: RBC Explains

The Dollar is near session lows with other safe havens currencies (Franc and Yen the only other G10 FX that are lower this morning), helping everything from EM to crude to iron ore to Sterling “get legs” overnight (despite the UK sovereign downgrade at that). Similarly, USTs and core EGBs are at their lows, while the riskiest EU credits (Xover -20.5bps) saw a nice gap tighter. The Asian equities session was tepid, but we currently see EU stocks enjoying a sizeable relief rally, with the largest returns being intuitively seen in the periphery states (Italy +3.4%) and banks (SX7E +3.5%). For what it’s worth, the buying in high risk periphery and banks is not “real money” nor is it on any real volume (which thus smells of short covering), while most of our real...

Weekly Initial Unemployment Claims decrease to 259,000

In the week ending June 18, the advance figure for seasonally adjusted initial claims was 259,000, a decrease of 18,000 from the previous week's unrevised level of 277,000. The 4-week moving average was 267,000, a decrease of 2,250 from the previous week's unrevised average of 269,250. There were no special factors impacting this week's initial claims. This marks 68 consecutive weeks of initial claims below 300,000, the longest streak since 1973. The previous week was unrevised...

As Of This Moment, Barclays Is Not Accepting FX Stop Loss Orders

Anyone wondering why gaps and volatility in FX, and especially cable is reaching on the absured today, with 100 pips swings in minutes the norm, the reason is that there is virtually no liquidity, and a main catalyst for this is that as HFTs conduct their usual stop hunts to stop out proximal limit orders, they simply find no such stops. They can blame banks such as Barclays for this development: as of 600 GMT this morning, Barclays has stopped accepting new stop loss orders as banks, concerned about today's vote outcome, seek to cap their exposure to the results of Britain’s referendum on EU membership...

Nigeria’s Naira Fails to Float on a Sea of Tranquility

On Monday afternoon, the Central Bank of Nigeria (CBN) ended the Nigerian naira’s sixteen-month peg to the U.S. dollar, sending the naira into a freefall. The currency had been pegged at 197 naira per dollar, but as the chart below shows, it had been trading at over 320 naira per dollar for months on the black market (read: free market) and currently sits at 345 naira per dollar. At the time of writing, the naira was officially trading at 283.75 naira per dollar. The official inflation rate for Nigeria in May was 15.6 percent. However, by using changes in the black market exchange rate data and applying the Purchasing Power Parity...

FNC: Residential Property Values increased 5.6% year-over-year in April

In addition to Case-Shiller, and CoreLogic, I'm also watching the FNC, Zillow and several other house price indexes. FNC released their April 2016 index data. FNC reported that their Residential Price Index™ (RPI) indicates that U.S. residential property values increased 1.1% from March to April (Composite 100 index, not seasonally adjusted). The 10 city MSA increased 1.6% (NSA), the 20-MSA RPI increased 1.5%, and the 30-MSA RPI increased 1.4% in April. These indexes are not seasonally adjusted (NSA), and are for non-distressed home sales (excluding foreclosure auction sales, REO sales, and short sales)...

Philly Fed Jumps On Surge In Prices Paid; Jobs, New Orders, & "Hope" Plunge

The jump in Philly Fed (from -1.8 to +4.7, beating expectations of +1.0) is considerably less exuberant than the mainstream would like to believe. The biggest driver of this jump back into 'expansion' was a huge surge in "Prices Paid" to the highest since Oct 2014. We are not sure how that is such great news as Prices Received collapsed. Furthermore, number of employees tumbled, New Orders fell to 4 month lows, and average workweek remains deep in contraction. Additionally, 'Hope' fell as the six month outlook dropped to 3 month lows. But apart from all that...

Deutsche Bank: "This Chart Is Even More Appropriate To Show A Broken Financial System"

Yesterday, DB's credit strategist Jim Reid (whose bank just hit a new record low stock price earlier this morning), said that "If One Wanted A Simple Indicator Of A Broken Financial System, Then This Is It", and proceeded to show the chart of the 10 Year Bund yield, which is now well in the negative territory. Today Reid, in his quest to show how broken the global "market" has become as a result of relentless central bank tinkering, and has come up with what he believes is an even better example. How can i get virtually guarantee to...

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