Forex

Forex Critical: A Sweet Spot for the Mexican Peso

Just as I had hoped and anticipated, the Banco de Mexico hiked its interest rate to 7.0% on June 22nd and kept pace with the U.S. Federal Reserve’s rate hike. Apparently, this rate hike was not a news flash. According to Reuters, the consensus opinion also anticipated a rate hike: “Analysts expected Mexico would match … Read more

Above the 40 (June 21, 2017) – The NASDAQ Snatches the Baton From the S&P 500

AT40 = 47.1% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 54.7% of stocks are trading above their respective 200DMAs VIX = 10.8 (volatility index) Short-term Trading Call: cautiously bullish Commentary Like two ships passing in the night, the NASDAQ, including the PowerShares QQQ ETF (QQQ), took back its advantage … Read more

Above the 40 (June 16, 2017) – A Post-Fed Market Still In Bullish Position

AT40 = 56.7% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 57.5% of stocks are trading above their respective 200DMAs VIX = 10.4 (volatility index) Short-term Trading Call: cautiously bullish Commentary The Federal Reserve gave the permission to the stock market that I awaited…well, sort of. On Wednesday, June 14, … Read more

Forex Critical: The Canadian Dollar Ignites But Was That Intended?

{updated to include commentary on The Guggenheim Canadian Energy Income ETF (ENY)} On Monday, June 12, 2017, Senior Deputy Governor of the Bank of Canada Carolyn A. Wilkins delivered a speech at the Asper School of Business in Winnipeg, Manitoba that was firmly bullish on the Canadian economy. The market’s reaction was swift and equally … Read more