Author Archives: Trading Advantage

West Texas Intermediate rebounded after falling below $80 for the first time since June 2012 on speculation prices decreased more than justified. Brent crude climbed from the lowest level in almost four years. Futures advanced 1.1 percent in New York and 0.8 percent in London. Crude has tumbled o…

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WTI Oil Rebounds After Dipping Below $80; Brent Rises

CAD/JPY sell-off overshot our initial support targets from earlier this week. After breaking below the 200-Day Simple Moving Average price spiked lower, eating through several clusters of orders located around 93.50 and 93.00. Although we observed a large trendline support line break during this…

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Canadian Dollar Turns Higher Despite Disappointing Manufacturing Sales

The Securities Exchange Commission on Thursday charged a New York-based trading firm of manipulating the closing price of thousands of Nasdaq-listed stocks from June to December 2009. The investigation found that Athena Capital Research used an algorithm to engage in a practice known as “marking …

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SEC accuses high frequency trading firm of manipulating closing price of thousands of stocks

The Securities Exchange Commission on Thursday charged a New York-based trading firm of manipulating the closing price of thousands of Nasdaq-listed stocks from June to December 2009. The investigation found that Athena Capital Research used an algorithm to engage in a practice known as “marking …

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SEC accuses high frequency trading firm of manipulating closing price of thousands of stocks

Things got really crazy in the bond market on Wednesday. The yield on the US 10-year bond fell to as low as 1.86% at one point during the morning, and overall the yield declined as much as 33 basis points, or 0.33%. Priya Misra at Bank of America Merrill Lynch notes that this was largest single-d…

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We’ve Just Witnessed A Definitive Shift In The Market’s Expectation For The First Fed Rate Hike

Things got really crazy in the bond market on Wednesday. The yield on the US 10-year bond fell to as low as 1.86% at one point during the morning, and overall the yield declined as much as 33 basis points, or 0.33%. Priya Misra at Bank of America Merrill Lynch notes that this was largest single-d…

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We’ve Just Witnessed A Definitive Shift In The Market’s Expectation For The First Fed Rate Hike

I’m going to come right out and say it. This market sell-off is ugly. It’s not fun. It’s scary. But now it’s time to take a deep breath and relax. (And not look at your 401(k) balance.) We’ve been through this before. It’s not the end of the world. It may not even be the end of the bull market tha…

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This is not another financial crisis

Most economists have a reason to be worried about China’s economy – whether it be low consumption and large external surpluses, industrial overcapacity, environmental degradation, or government interventions like capital controls or financial repression. What many fail to recognize is that these are…

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China’s Vicious Growth Circle

Forget the bigger-than-forecast drop in U.S. retail sales, the surprising tumble in U.K. inflation to a five-year low, and the slide in German investor confidence. For central banks around the world, the most informative piece of economic data released anywhere this week was the news that Swedish…

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What Yellen Needs to Learn From Sweden, Fast

The European Union’s ongoing battle to avoid a period of falling consumer prices suffered a blow in September, as the annual rate of inflation across the bloc’s 28 members fell to its lowest level in five years. So is Europe about to enter a period of deflation? How clear and present is the euroz…

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Is Europe Entering a Period of Deflation?

The euro’s EUR= recent fall is bolstering the euro zone economy and this should show up in stronger growth next year, European Central Bank Governing Council member Ewald Nowotny said in a magazine interview. Nowotny told Austria’s Format magazine that it was questionable, however, whether econom…

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Euro exchange rate should help growth pick up in 2015: ECB’s Nowotny

U.S. crude inventories surged last week as refineries cut output, while gasoline and distillate stocks fell, data from the Energy Information Administration showed on Thursday. Crude inventories rose by 8.9 million barrels in the last week, compared with analysts’ expectations for an increase of …

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U.S. crude inventories surge 8.9 mln barrels, products down -EIA

U.S. supplies of natural gas rose 94 billion cubic feet for the week ended Oct. 10, the Energy Information Administration said Thursday. That contrasted with expectations of an increase between 88 bcf to 92 bcf, according to analysts polled by Platts. Natural gas futures added to losses after the…

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Natural gas adds to loss after higher supply increase

All is apparently still well for U.S. manufacturers: The Philadelphia Federal Reserve on Thursday said companies in its region are still growing at a rapid pace and fielding new orders. Another strong reading for the Philadelphia Fed’s manufacturing index in October countered a surprisingly weak …

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Philly Fed shows manufacturers still growing rapidly

The Federal Reserve should consider delaying the end of its bond purchase program to halt the decline in inflation expectations, said St. Louis Federal Reserve Bank President James Bullard. Speaking in an interview today with Bloomberg News, Bullard said U.S. economic fundamentals remain strong a…

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Bullard Says Fed Should Consider Delay in Ending QE

Confidence among U.S. homebuilders dropped in October to a three-month low, interrupting momentum as the industry approaches the quieter winter months. The National Association of Home Builders/Wells Fargo builder sentiment gauge declined to 54 this month from 59 in September, figures from the Wa…

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Confidence Among U.S. Homebuilders Declines to Three-Month Low

BREAKING

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ECB’s Nowotny: Euro Economy Shows Clear Signs of Weakening

After four consecutive monthly gains, builder confidence in the market for newly built single-family homes fell five points to a level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. “We are seeing a return to the mid-50s index level tre…

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Four-Month Upturn Ends as Builder Confidence Falls in October