Marc Chandler – Recap Of The Major Central Bank Meetings And Policies, Currency Reactions And What Could Move Markets From Here
Marc Chandler, Managing Partner at Bannockburn Global ForEx and Editor of the Marc To Market website joins us to recap the Fed, ECB and BoJ meetings and policies. Since Central Bank policies directly impact currencies Marc breaks down the currency moves this month and overall trends. We also tie in China’s more dovish policy.
Hmm…. I thought today was pretty good overall, but I agree with you on being diversified in a sector as risky as resource stocks.
My diversified portfolio closed up 2.5% today, and I noticed GDX, GDXJ, SIL were up in the green today for the PMs as well as URNM & URNJ being up today for the U-stocks. (things were up about 0.5%-1.5% in most of those sector ETFs, so it’s been a lot worse many other days).
Overall, it was a green day, but it was a mixed bag as there were a few individual names selling off hard, especially some of the silver explorers and developers. Some of the Silver juniors are getting back down close to my cost basis zones, so I may throw another shrimp on the barbe’ in a few of them if we see more pressure selling next week. Never a dull moment…
Ever Upward!
Ex, what is really crazy is there is no debt ceiling on government spending, do you realize what that means when The BRIC nations introduce their new currency at the end of August. The U.S. dollar is toast, nobody will want it and the money you think you have will be nothing but a joke. DT
The Federal Reserve preferred to rely on their new policy, “raise rates to try to squeeze the system”, but the system is now run by banks that need to keep speculating in order to remain solvent. The end result will be a collapse in the stock prices. DT
All the more reason to have a reasonable amount of fiat money invested into real money – gold/silver, and other commodities, as they’ll only go up in “dollar terms”.
Now that everyone is thoroughly complacent or downright bullish the stock market while also expecting gold to go lower, don’t be surprised if next week surprises most people.
The dollar turned way down after struggling with the multiple resistance levels that I posted here in May and is not done even if the current fork support marks the start of a bounce – which I wouldn’t bet on…
https://stockcharts.com/h-sc/ui?s=%24USD&p=D&yr=1&mn=3&dy=0&id=p49727471967&a=1294481280
Weekly USD does not look good…
https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=9&mn=6&dy=0&id=p62398342753&a=611309314
SILJ took out last month’s low by a penny yesterday but finished the week 2.2% off that new low…
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=0&dy=0&id=p27020857306&a=1417659133
Silver:SPX most likely bottomed yesterday.
https://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24SPX&p=D&yr=1&mn=1&dy=0&id=p05839731108&a=1412778965
The Canadian dollar had a great week as it broke out to its highest weekly close since the first week of last September…
https://stockcharts.com/h-sc/ui?s=%24CAD&p=W&yr=5&mn=11&dy=0&id=p10852851812&a=1193758141
B-R-U-T-A-L, that says it all, it’s a good thing I am into diversification! DT