The GBP/USD opens up the new year in a weak position. 2015 begins with the interest rate differential in favor of the U.S. Dollar. This is 180 degrees from last December when investors were making powerful bets that the Bank of England would raise interest rates before the U.S. Federal Reserves. The British Pound topped in July 2014 when it started to become clear to traders that the BoE didn’t have the all clear signal from the economy to begin hiking rates. Like many of the major ...
US DOLLAR TECHNICAL ANALYSIS – Prices flat-lined after hitting a five-year high, with negative RSI divergence warning a downturn may be ahead. Near-term resistance is at 11577, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 11648. Alternatively, a turn below the 11489-522 area marked by the December 8 top and the 23.6% Fib clears the way for a test of the 14.6% expansion at 11434. ...
The new year begins with the interest rate differential strongly favoring the U.S. Dollar over the Euro. Simply stated, the U.S. Federal Reserve is getting ready to raise interest rates in 2015 while the European Central Bank is gearing up for a fresh round of quantitative easing (QE). Rates should rise in the U.S. and should fall in Europe, increasing demand for the Greenback. The key factor that will determine the ECB’s decision on quantitative easing will be inflation. The central ...
The Financial Times reports China Zombie Factories Kept Open to Give Illusion of Prosperity: In the shadow of a group of enormous smokestacks and abandoned foundries, a peeling sign welcomes visitors to the Wenxi Steel Industrial Park. Highsee stopped paying its 10,000 employees six months ago. Local officials estimate the plant supported indirectly the livelihood of about a quarter of Wenxi county’s population of 400,000. ...
Elvis Presley was allegedly unimpressed with his holiday song "Blue Christmas" when he recorded the song. One of the backing vocalists on the track, Millie Kirkham, broke the news during a recent interview for the Country Music Hall of Fame and Museum. Kirkham, who provided the backing "woos" on the track, opened up on the session. More...
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