FX Daily, February 06: Recovering US Equities Puts Floor Under Europe after Asia Tanks
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Author: Marc Chandler
Categories: FX Trends
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After the dramatic fall in US equities, Asian equities followed suit. The MSCI Asia Pacific Index fell 3.4% following Monday's slide of 1.7%. European bourses gapped lower and spent most of the morning moving higher, though large gaps remain. At its worst, the Dow Jones Stoxx 600 was off about 3.3%, and at the time of this writing, it is half as much. US equities initially extended yesterday's losses, but the S&P 500 has turned higher in the European morning in very volatile activity.
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Great Graphic: European Equities Lead Move
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Author: Marc Chandler
Categories: FX Trends
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European equities peaked earlier and have fallen the furthest. MSCI EM equities faring the best, and as of now, they are still up on the year. MSCI Asia Pacific fell 3.4% today and is now down 0.33% for the year.
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New Swiss tourism boss targets Alpine cyclists and non-skiers
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Author: Swissinfo
Categories: Swiss Markets and News
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New head of Switzerland Tourism Martin Nydegger expects hotel bookings to rise by 4% this winter season, owing to abundant snow. In an interview with Sonntagszeiting and Le Matin Dimanche newspapers, he also talks about priorities for 2018. Nydegger took over on January 1 from Jürg Schmid, who had headed the organizationexternal link for 18 years. He says he is planning some changes, but not a big shakeup.
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Gold Rises As Global Stocks Plunge and Bitcoin Crashes 70percent
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Author: Mark O'Byrne
Categories: GoldCore
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Gold gains 0.6% in USD and surges 1.7% in euros and pounds. European stocks fall more than 3% at the open after sharp falls in Asia. DJIA falls 1,175 points, S&P 500 down 4.1% and Nikkei plummets 4.7%. Gold rises from $1,330 to $1,342, £942 to £960 and €1,067 to €1,085 /oz. Bitcoin crashes another 10% and has now plummeted by 70% to below $6,000. Increased risk aversion will drive safe haven demand for gold as its hedging properties are appreciated again.
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Is the 9-Year Long Dead Cat Bounce Finally Ending?
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Author: Charles Hugh Smith
Categories: The United States
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Ignoring or downplaying these fundamental forces has greatly increased the fragility of the status quo. The term dead cat bounce is market lingo for a "recovery" after markets decline due to fundamental reversals. Markets tend to bounce back after sharp declines as participants (human and digital) who have been trained to "buy the dips" once again buy the decline, and the financial media rushes to reassure everyone that nothing has actually changed, everything is still peachy-keen wonderfulness.
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How to Buy Low When Everyone Else is Buying High
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Author: MN Gordon
Categories: Debt and the Fallacies of Paper Money
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The common thread running through the collective minds of present U.S. stock market investors goes something like this: A great crash is coming. But first there will be an epic run-up climaxing with a massive parabolic blow off top. Hence, to capitalize on the final blow off, investors must let their stock market holdings ride until the precise moment the market peaks – and not a moment more. That’s when investors should sell their stocks and go to cash.
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