Matthew Bolden
Matthew Bolden is an active trader and investor. His passions include writing about financial markets in a simple, pragmatic way. His work has been seen in various arenas within the world of global finance, and he has written commentary on several markets including precious metals, stocks, currencies and options.
Matthew is an avid reader, student of the markets and sports enthusiast who resides in the greater Chicago area.
Chicago PMI Falls to Six Month Low
According to tradingeconomics.com, the latest reading of the Chicago Purchasing Manager’s Index, or PMI, declined to 58.4 in October from a September reading of 60.4. Although a reading over 50 represents growth, the October data was the lowest reading since April.
Consumer Confidence Rises to 18 Year High
According to bloomberg.com, the latest reading on Consumer Confidence rose to an 18 year high.
Housing Price Gains Grind to 20-Month Low
The Case-Shiller index today showed a further deterioration in the U.S. housing market as price gains slid to a 20-month low. According to tradingeconomics.com, the market fell short of consensus estimates of a 5.8% rise.
Large Speculators Scaling Back Bearish Gold Positions
Recent data from the CFTC showed large specs scaling back on bearish positions in gold. The last two reporting weeks have seen a significant decline in bearish bets, as prices have moved higher on improving sentiment and an increasingly bullish technical posture.
Chinese Yuan Hits 10 Year Low Against Dollar
The Chinese Yuan has declined against the dollar each day this week, and continues to hover around a 10 year low against the greenback.
ECB Confirms Stimulus Exit
The European Central Bank took no action on rates today in a move (or lack thereof) that was not unexpected. Of note, however, was the central bank’s confirmation that it does indeed plan on ending its monetary easing program by the end of the year.
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