Resource Investor

U.S. tariffs on $34 billon of Chinese goods went into effect at midnight ET and the S&P 500 spiked higher 10 minutes later. The market was technically positioned to do such, and it has pared those gains since. As expected, China quickly retaliated with symmetrical tariffs of their own. …read more From:: Resource Investor

As a reminder for traders who are still a bit groggy after celebrating America’s independence yesterday, the Federal Reserve opted to raise its benchmark interest rate by 25bps to the 1.75-2.00% at its meeting three weeks ago (see “FOMC recap: Hawkish statement and projections, hesitant Powell”). …read more From:: Resource Investor

Crude oil prices fell sharply on Thursday after the U.S. Department of Energy reported an unexpected rise in U.S. crude stockpiles. Whereas oil analysts were looking for a sharp 4.4-million barrel drawdown in the headline figure after the American Petroleum Institute (API) had estimated a similar figure on Tuesday, the DOE actually reported a rise

The deadline has passed. President Donald Trump fired the trade war shot heard around the world as he suggests the United States is mad as heck and isn’t going to take the record $375 billion trade deficit with China in 2017 anymore. Around $34 billion in tariffs went into effect at midnight with China calling

Total nonfarm payroll employment increased by 213,000 in June, and the unemployment rate rose to 4.0%, the U.S. Bureau of Labor Statistics reported on Friday, July 6. Job growth occurred in professional and business services, manufacturing, and healthcare, while retail trade lost jobs. …read more From:: Resource Investor

In the 1968 movie, 2001: A Space Odyssey, the spaceship’s advanced cognitive computer, HAL — which is “foolproof and incapable of error” — suffers a malfunction that leads to the derailment of the mission. International Business Machines Corp. (IBM) has been commonly associated with the naming of HAL (attributable to movie myth), but in reality

Mirroring the going stock market indecisiveness, the risk-sensitive euro/Japanese yen currency pair is currently stuck below a key technical area around 129.50. We are waiting to see if it will start to break down with some follow through now, or whether the buyers will come back and regain control. Furthermore, gold’s sizeable rally on Tuesday

As expected, gold made nice three waves of correction back to projected 1250 support level, but there can be room for deeper and more complex correction down to around 61,8% Fib. retracement and 1245 level. …read more From:: Resource Investor

U.S. investors, out celebrating July 4 holidays, didn’t miss much at all yesterday in the markets. They are back today and with them, volatility is set to return. In fact, European stock markets have started sharply higher this morning although the forex markets have been fairly quiet so far as investors await key U.S. data

After a losing ground into the close on Tuesday, major U.S benchmarks are all higher coming out of the July 4 Independence Day holiday. Investors and traders alike await a deluge of data and news over these next two days including Friday’s tariff deadline and jobs report. This morning brings an early look at jobs