While Europe Germany is experiencing an economic boom despite a strengthening Euro (how wrong was I on that one!) it seems that the U.S. economy continues to be mired in problems. Core CPI numbers were just released and settled below the Fed’s 2% mandate for the sixth month in a row. Not surprisingly the Dollar got pummeled in response (bad economy = dovish Fed) which on the other hand caused a welcome boost on several of our ongoing campaigns. Let’s review the futures followed by forex:
Today seems to be entry day across the board as I’ve got promising looking campaigns crawling out of the proverbial woodwork. And it’s about time as I can tell a bunch of you guys were getting antsy in recent weeks. Watching and learning may have its merits but we’re here to bank coin, so let’s get to it.
Before you do anything else I encourage you to catch up on my previous post which covers this week’s top and bottom performing stock symbols in the S&P 500. I’m actually considering to add small caps as well to widen our stock universe by a bit, what do you guys think? Anyway, today is a bit of a strange day here in Valencia as the 9th of October is officially a ‘día festivo’ celebrating the arrival of Jaume I ‘El Conquistador’ on this day in 1238 who managed to end several hundred yeas of Muslim rule over the region. However it’s fair to say that the mood here is a bit somber today as the situation in Catalonia is increasingly spinning [...]
A funny thing happened this morning over at the ECB this morning. Mario Draghi must have finally found a moment to actually look at a EUR/USD chart as the ECB suddenly seems concerned about the implications of a 11% hike over the course of the past six months. Which to me stands in rather stark contrast with several constitutional trains wreck that are currently unfolding all across in Europe and most pressingly the one right now here in Spain. Not exactly bullish when Moody’s and other rating agencies are issuing recurring warnings about Spanish and Catalonian credit ratings.