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Bank of England Crushes Sterling

August 03, 2017
Sterling reached a new 11-month high against the dollar earlier today, but the dovish take away from the Bank of England has seen sterling reverse lower.  It has now fallen below the previous day's low, and a close below there (~$1.3190) would confirm the bearish key reversal pattern. Support near the week's low just below $1.3100 is holdi…
Bank of England Crushes Sterling Bank of England Crushes Sterling Reviewed by Marc Chandler on August 03, 2017 Rating: 5
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Dollar-Bloc Currencies Turning, but Euro Downticks Limited

August 03, 2017
The high-flying dollar-bloc currencies may be a preliminary sign market change. The US dollar is gaining on the Canadian dollar for the fourth consecutive session.  It is probing resistance we identified in the $1.2620 area.  The US dollar has not traded above its 20-day moving average since the Fed hiked rates on June 14.  It is found today near …
Dollar-Bloc Currencies Turning, but Euro Downticks Limited Dollar-Bloc Currencies Turning, but Euro Downticks Limited Reviewed by Marc Chandler on August 03, 2017 Rating: 5
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US Auto Sector and Broader Thoughts on the US Labor Market

August 02, 2017
Charles Wilson, former CEO of General Motors before becoming Defense Secretary under President Eisenhower, once famously quipped that "what is good for the country is good for GM and vice versa."   While the veracity of that claim has been challenged, the fact of the matter is that since the Great Financial Crisis, the auto sector (not j…
US Auto Sector and Broader Thoughts on the US Labor Market US Auto Sector and Broader Thoughts on the US Labor Market Reviewed by Marc Chandler on August 02, 2017 Rating: 5
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