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The inevitability of further asset purchases from the Fed, BoE, ECB and BoJ enhance the case for gold and silver. ...

EURCHF HITS FRESH RECORD LOWS at 1.2936 less than a day after SNB president said the cenbank is ready to intervene again. There are a few obstacles to any durable bounce in EURCHF; i) the Swiss franc is strong to the extent of dragging the rising USD down to 8-month lows at 1.0230. Chartists must...

DON'T CONFUSE INTERVENTION WITH QE in the case of Japan. Japan's Fin Min Noda made it clear last week that any yen intervention would make little difference and that chances of US stepping in were "zero". So Japan is now moving in the way of further QE as was seen in December when the BoJ's fresh...

Prices continue to churn as traders and investors try to figure if they want their hard earned dollar in cash or investments. The market is very jittery simply because no one wants to get caught on the wrong side of the market if it makes another 30-40% move, which is why we are seeing money...

STERLING AVOIDS DIPPING below its 200-day MA of $1.55 thanks to stronger than expected 1.1% rise in July retail sales as well as smaller than exp public sector borrowing. Subsequent rally in cable seen capped at $1.5680, a level that could be reached during afternoon London trade, but watch out...

WHAT A DIFFRENCE 24-Hrs MAKES. Recapping why the stocks are down and both USD and JPY are up; MORE CHINESE DATA DISAPPOINTMENT sent Asian & European equities lower after a brief reprieve to risk appetite in late Tuesday US following the Feds announcement to buy more treasuries. US dollar was fired...

Tonight's Aussie Q2 CPI (1:30 GMT) will be key in providing clues on the next RBA decision but the tricky part comes in the mixed showing of q/q and y/y data. Mondays Q2 PPI showed softer than expected q/q PPI at 0.3% but a higher 1.0% on y/y basis. See Monday's PPI in calendar here: ...

CAD ATTEMPTS RESILIENCY in the face of softer than expected Canadian June annual CPI at 1.0% from Mays 1.4%, with annual core slipping to 1.7% from 1.8%. Not enough risk aversion is occurring for USDCAD to break above the Jul 20 trend line resistance of 1.0450 just as yesterdays 1 June trend lien...

The market continues to become quicker and fiercer as it move up and down 2+% on a regular basis This week we have seen some wild price swings due to earnings, events and the Feds which just makes trading that much more intense. I have pointed out yesterday that this market only gives you a...

GOLDs LOWER HIGHS testing the 100-day MA of 1180 but with the price and stochastics suggesting $1,220 is behind us for now and the next downside target stands at 1165-70, a break of which could lead to 1120. The main drivers of a fresh gold rally remain 1) renewed Euro crisis/bad news on stress...

Yen strength is here to stay especially as the US dollar's safe-haven lustre is eroded by the worsening US data. ...

MIXED US DATA as US June PPI falls 0.5% vs. exp 0.1% decline, Empire State index WORSENS to 5 from 19.6 with broad declines in New Orders and Employment Index. The good news is the 21K decrease in jobless claims to 429K. WATCH US JUNE INDUSTRIAL PRODUCTION (13:15 GMT) which could show the first...

UK UNEMPLOYMENT fell by 20.8K in June after a 31K decline in May with the unemployment rate dropping to 4.5%--lowest since March 2009. The robust figures may not dispel doubts over the impact of upcoming decline in falling public sector jobs. The weaker than expected 2.7% increase in average...

STELLAR CANADIAN JOBS REPORT as June unemployment unexpectedly drops to a 14-month low of 7.9% from 8.1%, with the payrolls rocketing by 93K from 24K vs forecasts of 15K. OUR FOLLOWERS ON TWITTER were told of the 1.0340 target (61.8% retracement) in the event of a robust report. Over the past...

FROM CHINA TO CANADA. As US lawmakers stand against China's Anshan plans to form a joint venture Mississippi-based Steel Development Co on the basis of threatening US job and national security, Chinese companies are encouraged to go North of the Border. USD billions more from Chinese companies...

JULY 7th MARKS THE ANNUAL "RUN WITH THE BULLS" in Plaza San Fermin, and Spain did exactly that today as it ran the ball with the Wall St bulls as US indices rallied +3%. Spain showed the world how to play chess with the football, keeping the Germans from touching the ball for 3-4 mins and...

US JUNE NONFARM PAYROLLS -125K from +433K, Unemp. rate DROPS to 9.5% from 9.7% (vs exp 9.8%), Average Weekly Hours flat at 33.4. Euro continues to rally across the board, eyeing the $1.2660 target (prev IMT), while JPY rebounds to gain versus all currencies (except EUR). USDCAD looks to retest...

WHEN IN DOUBT REMAIN DOVISH. Yesterday's FOMC decision may have been uneventful but the statement did sound more dovish on two fronts: 1) downgrading "financial conditions" and 2)highlighting "depressed" housing starts. The record tumble in US April new home sales to 47 year lows was nearly double...

It was another extremely volatile week sharp rallies followed by sharp sell offs. Fear is in no doubt controlling the market. The bulls and bears continue to battle it out. The charts below cover some important trends and market internals I pay attention to on a daily basis. US Dollar Index ...

The stock market topped in April which was expected from analyzing stocks and the indexes. Back in April I posted a few reports explaining how to read the charts to spot market tops. Todays report is about identifying market bottoms. It does not get much more exciting than what we have seen in...

It has been an interesting week in the market as stocks and commodities push to extreme support levels. Below I have posted some charts showing where the market is currently trading at and what I think is likely to unfold. Gold Futures 4 Hour Candle Stick Chart The price of Gold is testing a...

Its been an exciting couple weeks in the market with gold now making new all time highs as money floods into this shiny safe haven. It has everyone all worked up wanting to take part or they are riding the rally up already. But the big question is when should some money be taken off the table to...

The latest record high in gold at $1,244 is being especially driven by bond-purchasing measures of the ECB aimed at capping sovereign bond yields, which are an explicit form of quantitative easing (despite ECB's insistence to claim sterilization at a later time). 2009 was a clear manifestation of...

VARIOUS INTERPRETATIONS to Gordon Browns speech, in which he announced that his Labour Party is ready to discuss a coalition with LibDems. Brown announced he will step down to allow for these negotiations to go on, which is a negative for GBP as it paves the way for the possibility of establishing...

As we all know, last weeks stock market blip/mini crash was very emotional for those of you watching or trading it live. A lot of money changed hands last week and you either lost a bundle or made a bundle I did send out some charts and a video on Thursday night about the market crash/recovery...

Germany proposed a funding facility of E500 billion with the help of the IMF, E60 billion of which will be in an loans from the European Commission and E440 billion in the form of government-backed guarantees from Eurozone nations. The E500 bln is an addition to the E110 bln announced last week by...

The past few weeks I have been talking about the SP500 forming a top similar to the January top we saw earlier this year. Well the charts below show exactly what I have been waiting for to unfold and I think the time has come for the market to take a healthy breather before continuing this strong...

The past couple weeks we have seen sellers control the price of gold. This can be seen on the charts by the light volume drifts up then heavy volume sell selling sending this metal sharply lower. This type of price action provides some excellent intraday shorting opportunities. On the other...

RECENT CAD RETREAT will not be helped by todays CAN data, which showed CAN Q1 GDP +0.3% from +0.6% (lowest since Aug 2009) and March PPI -0.4% due to loonie strength. Still looking for 1.0080 in USDCAD while EURUSD needs to show more convincing break of $1.3330 to call up $1.3380-90. US Q1 GDP at...

Its been an interesting week with Spain being downgraded as Europe debt crisis widens. This has investors looking at the US dollar in a new light thinking that maybe its not that bad of an investment after all. This sent the US Dollar higher along with the price of gold so far this week. The...