Home > Oct 2017 > Oct 25, 2017 China Copper gives back most of gains and Aussie still selling off

Oct 25, 2017 China Copper gives back most of gains and Aussie still selling off

October 25th, 2017

I am not sure why the market is being bought up? Anyway, tonight AUD/USD is down .77% after a miss on CPI . Shanghai Futures has Copper down big on the first AFTER the China Congress finishes up. The combination of a drop in the Aussie, Kiwi and Copper really feels like the Chinese Commodity traders didn’t get any huge Infrastructure Stimulus Plans from the China Congress. Our futures are down only slightly in the first hour of the European session. German Ifo Data beat estimates. In the US Session we get New Home Sales and more earnings…looks like Macro Analysis on individual Companies are running the show at the moment. Not a risk on/risk off play anymore.

Oct 2017

  • panther341

    well – had a big down move intraday but they have been buying the dip starting 3 hours into the trading day. Bonds down at same time as stocks.

  • panther341

    CNBC had a blurb which they did like a pop quiz: 2 stocks down more than CMG this year. Answer: M and UA.

  • Trading_Nymph

    The Bulls have been trained to buy dips after Europe Session closes. Well, actually the Algo’s have been trained.

  • Trading_Nymph

    USA parties like 2007 on “Building their Dream Home”…from Reuters..U.S. new home sales race to nearly 10-year high in September
    Reuters Staff
    2 MIN READ
    WASHINGTON (Reuters) – Sales of new U.S. single-family homes unexpectedly rose in September, hitting their highest level in nearly 10 years, offering hope that the housing market was regaining speed after appearing to stall recent months.

    FILE PHOTO — A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, U.S. October 20, 2014. REUTERS/Larry Downing/File Photo
    The Commerce Department said on Wednesday new home sales surged 18.9 percent to a seasonally adjusted annual rate of 667,000 units last month amid an increase in all four regions.

    That was the highest level since October 2007 and followed August’s upwardly revised sales pace of 561,000 units.

    The percent gain was the largest since January 1992. August’s sales pace was previously reported at 560,000 units.

    Economists polled by Reuters had forecast new home sales, which account for 11 percent of overall home sales, falling 0.9 percent to a pace of 555,000 units last month.

    New home sales, which are drawn from permits, are volatile on a month-to-month basis. Sales soared 17.0 percent on a year-on-year basis in September.

    The housing market has trod water for much of this year, amid shortages of homes available for sale, skilled labor and suitable land for building.

    Activity was also hampered by Hurricanes Harvey and Irma, which weighed on homebuilding in September and hurt sales of previously owned homes in the South. Housing is expected to have been a drag on economic growth in the third quarter.

    In September, new single-family homes sales raced to a more than 9-1/2 year high in the Northeast. Sales in the South hit their highest level since July 2007. There were also strong gains in the West and Midwest last month.

    More than two-thirds of the new homes sold last month were either under construction or yet to be started.

    With sales surging in September, the inventory of new homes on the market was unchanged at 279,000 units. At September’s robust sales pace it would take 5.0 months to clear the supply of houses on the market, down from 6.0 months in August.

    A six-month supply is viewed as a healthy balance between supply and demand.

  • Trading_Nymph

    Even on a down day it’s hard for us Bears to come out from under the Bed. All Time Highs just hurt.