🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

Macro Week In Review: August 24, 2012

Published 08/26/2012, 03:11 AM
Updated 05/14/2017, 06:45 AM

Last week’s review of the macro market indicators saw heading into the new week it looked like the markets were very similar to the previous week's view. Gold and crude oil looked best to continue higher, with a chance that gold consolidates further.

The US Dollar Index looked to consolidate, but with an upward bias and Treasurys looked to continue lower. The Shanghai Composite looked to set new multi-year lows while Emerging Markets consolidated further before another upside move. Volatility looked to continue towards historic lows allowing for the Equity Index ETF’s SPY, IWM and QQQ to continue their rise to multi-year highs. The SPY looked the best followed by the QQQ and then the IWM, which was still among some previous congestion. It seemed only a hard reversal by Treasurys could derail this market now.

The week played out with gold ripping higher while crude oil also moved up, but consolidated some gains later in the week. The US dollar broke lower and found a bottom while Treasurys rebounded to fill upside gaps. The Shanghai Composite continued to consolidate in a tight range at the recent lows while Emerging Markets gave up some of their gains, perhaps rolling over. Volatility bounced off of the lows but remained subdued. The Equity Index ETF’s peaked with the SPY and QQQ making new multi-year highs before all gave back some ground late in the week.

Original post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.