Insights, analysis, and updates from the National Introducing Brokers Association
Join CME Group’s Senior Director of Education, Dave Lerman as he discusses volatility from a slightly different perspective, attempting to distinguish average levels of volatility from above average volatility. Read Full Discussion Here
Portfolio managers were waiting on a signal from the Fed, and they received it from Fed Chair Jerome Powell’s congressional testimony, says Jack Bouroudjian. Powell suggested that “concerns about the strength of the global economy continue to weigh on the U.S. economic outlook.” Would a rate cut start an easing cycle, or is an insurance cut coming? Jack examines the landscape and gives us two trends to watch. The post Market Update: Powell Gives A Signal appeared first on OpenMarkets. Source: CME Open Markets - Market Update: Powell Gives A Signal
Portfolio managers were waiting on a signal from the Fed, and they received it from Fed Chair Jerome Powell’s congressional testimony, says Jack Bouroudjian. Powell suggested that “concerns about the strength of the global economy continue to weigh on the U.S. economic outlook.” Would a rate cut start an easing cycle, or is an insurance cut coming? Jack examines the landscape and gives us two trends to watch. The post Market Update: Powell Gives A Signal appeared first on OpenMarkets. Source: CME Open Markets - Market Update: Powell Gives A Signal
At its high, bitcoin had rallied close to 280 percent in the first six months of 2019 with much of that move occurring in June alone. If this move had occurred in a vacuum it would certainly be significant. However, when we add in some other interesting macro movements and events it begins to unlock the mystery of what bitcoin is and what it could eventually be. Easy Money Cycle Both gold and bitcoin were hovering near cycle lows in December of 2018 when the first hint was given that the Fed’s hiking cycle was near completion and a different direction would soon be adopted. A movement to easier monetary policy, in most cases, would be accompanied by a weakening dollar. That’s not what happened. The dollar remained relatively strong through May, bolstered by the counterbalance of concurrent increasing monetary stimulus in Europe. Since November The German 10-year yield has...
Regardless of the chosen trading strategy or even the instruments traded; results generally cycle from feast to famine. A friend of mine, Linda Raschke, once said: “The minute you think you have found the key to trading, I promise you the markets will change the lock.” The roller coaster ride that comes with any given futures or options trading strategy is not unlike how the markets themselves behave. If you need a reminder, check out a monthly crude oil chart spanning the previous two decades. The price of West Texas Intermediate light sweet crude oil has seen the $20s and the mid-$100s, and to and fro. Two Kinds of Traders Futures trend traders tend to make money as markets are trending, which is generally less than 30 percent of the time, but they experience frequent and expensive stop outs in a sideways trading environment. Futures swing traders attempting to buy...
At its high, bitcoin had rallied close to 280 percent in the first six months of 2019 with much of that move occurring in June alone. If this move had occurred in a vacuum it would certainly be significant. However, when we add in some other interesting macro movements and events it begins to unlock the mystery of what bitcoin is and what it could eventually be. Easy Money Cycle Both gold and bitcoin were hovering near cycle lows in December of 2018 when the first hint was given that the Fed’s hiking cycle was near completion and a different direction would soon be adopted. A movement to easier monetary policy, in most cases, would be accompanied by a weakening dollar. That’s not what happened. The dollar remained relatively strong through May, bolstered by the counterbalance of concurrent increasing monetary stimulus in Europe. Since November The German 10-year yield has...
Regardless of the chosen trading strategy or even the instruments traded; results generally cycle from feast to famine. A friend of mine, Linda Raschke, once said: “The minute you think you have found the key to trading, I promise you the markets will change the lock.” The roller coaster ride that comes with any given futures or options trading strategy is not unlike how the markets themselves behave. If you need a reminder, check out a monthly crude oil chart spanning the previous two decades. The price of West Texas Intermediate light sweet crude oil has seen the $20s and the mid-$100s, and to and fro. Two Kinds of Traders Futures trend traders tend to make money as markets are trending, which is generally less than 30 percent of the time, but they experience frequent and expensive stop outs in a sideways trading environment. Futures swing traders attempting to buy...
Jack Bouroudjian discusses interest rates, earnings and confidence — the three pillars of market fundamentals — ahead of Fed Chair Jerome Powell’s congressional testimony this week. He also covers why this time of year is critical for market participants. The post Market Update: The Three Pillars of Markets appeared first on OpenMarkets. Source: CME Open Markets - Market Update: The Three Pillars of Markets
Jack Bouroudjian discusses interest rates, earnings and confidence — the three pillars of market fundamentals — ahead of Fed Chair Jerome Powell’s congressional testimony this week. He also covers why this time of year is critical for market participants. The post Market Update: The Three Pillars of Markets appeared first on OpenMarkets. Source: CME Open Markets - Market Update: The Three Pillars of Markets
Gold prices have been on a wild ride. Between 2000 and 2011, they rose from $280 to around $1,900 per ounce before falling back to $1,050 in 2015. Currently, they are trading close to $1,300 an ounce. Gold has made similar-sized moves when priced in the Chinese renminbi (CNH). From a CNH perspective, prices rose from 2,000 to 12,000 between 2001 and 2011 before falling back to 7,000 in 2015. Currently, it’s trading near 9,000 CNH (Figure 1). The similarity in performance reflects the stability of CNH versus the U.S. dollar, staying within about a 25 percent range during the past two decades. Is Gold a Hedge for Chinese Growth? China’s economic growth sent the prices of most commodities soaring from 2001 until 2011. Many commodities, including wheat, copper, aluminum, platinum, soybean oil and crude oil have had strong positive correlations with both the “Li Keqiang” index (a narrow but...
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