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Charts of the Day - Dollar 3 Year Cycle Low

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Posted by Gary Savage - Smartmoneytracker

on Monday, 22 May 2017 07:14

The dollar is now 4 days into its final bloodbath phase. This phase usually lasts 5-7 days. We should get a bottom this week.

COTD1-1



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Currency

SWOT Analysis: Can We Expect Further Weakening of the U.S. Dollar?

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Posted by Frank Holmes - US Global Investors

on Monday, 22 May 2017 07:11

Strengths

 

  • The best performing precious metal for the week was silver, climbing 2.36 percent and just beating out gold’s price performance as softer economic data emerged.
  • Gold traders and analysts are split on their outlook for gold, reports Bloomberg, with 12 bearish, three bullish and four neutral this week. On May 16 the yellow metal advanced for a fourth day, with Kotak Commodities Services saying gold is supported by “mixed U.S. economic data, weakness in the U.S. dollar, geopolitical tensions and uncertainty about Trump’s policy actions.” On the prior Friday, consumer prices (excluding food and energy) rose 1.9 percent year-over-year for April, the least since 2015, while retail sales were also weaker, reports Bloomberg.
  • Eldorado Gold will “gain an operating foothold in its own country with a deal to take full control of Integra Gold Corp,” reports Bloomberg, offering the equivalent of C$1.2125 for each Integra share. That is a 52 percent premium to Integra’s closing price on May 12, according to a statement on Monday from Eldorado. The proposed acquisition provides Eldorado with its first operating mine in Canada, offering G&A and income tax benefits, along with exposure to a lower political risk project, notes a Viii Capital report.

 

Weaknesses

 

  • The worst performing metal for the week was palladium, down 5.87 percent.  UBS noted that electric cars will be brought to the market sooner than consensus expectations and that platinum group metals are expected to lose market demand on this technology adoption.
  • Barrick Gold reached an agreement with the Dominican Republic government (where it operates its Pueblo Viejo mine), outlining new financial terms and tax rates, reports Bloomberg. The new terms show the government is projected to receive an additional $181 million from Barrick between 2017 and 2019, according to a statement from the Dominican President’s office. The new terms are based on a gold price of $1,275 per ounce.
  • Sibanye Gold Ltd. announced it will sell around $1 billion of shares at a 60-percent discount to partly fund its purchase of Stillwater Mining. The statement soon sent the stock plummeting the most in five months before rebounding after, reports Bloomberg. “The South African miner dropped as much as 11 percent in Johannesburg, the most since December 9, before paring losses to trade 2.4 percent lower,” the article continues.
  • Frankfurt-based Commerzbank AG is exiting its physical precious-metals trading and services business, reports Bloomberg. The bank’s physical services include trading of physical precious metals, refining services, vaulting and transportation. Commerzbank does plan to continue its other bullion banking operations.

 

Opportunities

 

  • Author and investor Mark Faber says that for the first time in a long time he is more heavily weighted in Europe than in the U.S. Faber cites “good opportunities in European stocks” at the present time along with his belief that the euro will continue to strengthen against the dollar. In a Bloomberg phone interview, he continues by stating, “In my opinion in the U.S. they will launch QE4 at the end of the year. The economy in the U.S. is weakening.” He also noted that gold mining shares are “inexpensive” and Amazon is “expensive.”
  • Since President Trump’s comments about the dollar being “too strong” back in April, the greenback has since dropped – the Bloomberg Dollar Spot Index has fallen 3.1 percent, reports Bloomberg. Citigroup, the world’s biggest currency trading firm, believes continued erosions for policy changes in D.C. will only lead to further weakening of the currency, the article continues. Even Westpac Banking Corp., the second most-accurate currency forecaster in Bloomberg’s recent rankings, is advising clients to sell the dollar, with Macquarie Bank expecting the greenback to decline as well. Gold traded near a two-week high this week, with equities in retreat “and in

 

5-22fh



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Currency

What The Heck’s Going On With Cryptocurrencies?

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Posted by Steve St. Angelo - SRSrocco Report

on Wednesday, 17 May 2017 06:20

Up 10,000% in 16 months? These charts truly depict our crazy times

“One word, a question: Etherium,” said the guy at my swim club on Sunday. “What do you think? It’s a ten-bagger since January.” Meaning that the value of the cryptocurrency has multiplied by ten in the four months since January 16.

It’s actually more than a “ten-bagger.” At the end of 2015, it was worth $0.90. As I’m writing this, it’s worth $91.30. Those who bought it at the end of 2015 had a ten-bagger on their hands by January 16, 2017. Those who bought at that time also have ten bagger on their hands. Those that rode it all the way up over the 16 months have a 100-bagger. For percentage fans, that’s a gain of 10,000%.
Here is the chart of this financial miracle (via WorldCoinIndex):

Etherium-Chart-768x527

What miracle “asset” did they get when they bought it? Don’t even ask. Just believe in it. It certainly isn’t a usable currency for legit purposes, obviously, given this kind of insane instability. But it really doesn’t matter what it is as long as it is going up.

By “market capitalization,” ethereum is now the second largest cryptocurrency at $8.4 billion.

READ MORE HERE: What The Heck’s Going On With Cryptocurrencies? 


As I mention in my previous article, PAPER vs PHYSICAL: The Amazing Amount Of Leverage In The Silver Market:



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Currency

World Out Of Whack: Déjà Vu In The USD Bull Market?

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Posted by Capitalist Exploits

on Wednesday, 17 May 2017 06:08

What in God’s name is happening?

It’s not a high.

It’s a record high.

Sweet mother of Mary…

em-record-debt

As we can see from the above chart courtesy of the FT, emerging markets sold a record amount of government debt in the first quarter of this year.

More from the FT here:

“Data from Dealogic, a research firm, show that sovereign bond sales from emerging markets rose to $69.6bn in the first three months of the year, an increase of 48 per cent from a year ago and a record amount for a single quarter. Corporate bond sales by companies in developing countries also surged, rising 135 per cent year on year in the first quarter to $105bn, according to Bloomberg data.”

....continue reading HERE

 



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Currency

Bitcoin Trading Alert: Bitcoin Corrects from Top

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Posted by Mike McCara - Sunshine Profits

on Wednesday, 17 May 2017 03:58

Bitcoin Trading Alert originally sent to subscribers on May 15, 2017, 11:38 AM.

In short: no speculative positions.

A hacker attack has swept across the globe encrypting user files and crashing corporate services. In an article on CoinDesk, we read:

Extortionist hackers who may be using leaked computer exploits from the U.S. National Security Agency infiltrated computers in dozens of countries in a fast-spreading attack that forced British hospitals to turn away patients and breached systems at Spain’s Telefonica SA and organizations from Russia to Taiwan.

The ransomware used in Friday’s cyber-attacks encrypts files and demands that victims pay $300 in bitcoin for them to be decrypted, the latest in a vexing style of security breaches that, at the very least, forces organizations to revert to backup systems to keep critical systems running. The malicious software has infected more than 75,000 computers in 99 countries worldwide on Friday, most of them concentrated in Russia, Ukraine and Taiwan, according to Dutch cybersecurity company Avast Software BV.

Several other well-know companies have been affected such as Deutsche Bahn or Renault. Reports have also emerges claiming that people are unwilling to pay the ransom since it’s relatively complicated for them to set up a Bitcoin wallet.

This is bad publicity for Bitcoin as it highlights the features of the currency that have captured the imagination of mainstream media for some time now – the superficial anonymity and the possibility to use Bitcoin for illegal transactions. It is perhaps not fair for the currency – it is only a tool in the hands of criminals and there’s nothing inherently criminal in Bitcoin itself. Actually, the more interesting part of the story is that it is still too hard for people to use Bitcoin – a state of things that has prevailed for a couple of years now.

For now, let’s focus on the charts.

bitcoin-alert-2017-05-15-01



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