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  • Finance 0

    Gold Breaks Below Key Support, Drops To 4-Month Lows

    At 0907ET, someone decided it was the perfect time to dump $1.5 billion notional worth of gold, smashing the precious metal below its 200-day moving-average and back down to 4-month lows… And so, once again, gold futures are tumbling… To 4-month lows…but still up around 10% year-to-date… What’s driving the gold weakness? Who knows… because it’s not the dollar… Though Gold’s sensitivity to USDJPY has picked up notably…...
    On December 5, 2017 / By
  • Finance 0

    Australian Retail Sales Rebound In October

    Australian consumers are buying once again, after months of weak spending and competitive discount. The retail sales rose 0.5 percent in October, according to the Australian Bureau of Statistics (ABS) report released on Tuesday. The strongest figure since May and higher than the 0.3 percent predicted by most economists. September number was also revised up to 0.1 percent. Shoppers look in the window of a retail store selling jewellery in central Sydney, Australia, August 31, 2016. Picture taken August 31, 2016. REUTERS/Steven Saphore/Files Australian retailers who have been struggling with weak sales even with relentless price discounts now ...
    On December 5, 2017 / By
  • Finance 0

    Crude Oil: Weakens, Eyes The 56.73 Zone

    Crude oil faces further downside pressure as it looks to follow through lower on Tuesday. On the downside, support resides at the 57.00 level where a break will expose the 56.50 level. A cut through here will set the stage for a run at the 56.00 level. Further down, support resides at the 55.50 level. On the upside, resistance resides at the 58.00 level. Further out, resistance comes in at the 58.50 level. A break above here will aim at the 59.00 level and then the 59.50 level followed by the 60.00 level. All in all, Crude oil remains biased to the downside:...
    On December 5, 2017 / By
  • Finance 0

    Markit Services PMI: Slower Expansion In November

    The November US Services Purchasing Managers’ Index conducted by Markit came in at 54.5 percent, down 0.8 from the final October estimate of 55.3. The Investing.com consensus was for 55.9 percent. Markit’s Services PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Here is the opening from the latest press release: November survey data signalled a slower rate of expansion in business activity across the US service sector. Although output growth eased slightly to a five-month low, the upturn in new business accelerated and was solid overall. Employment growth meanwhile ...
    On December 5, 2017 / By
  • Finance 0

    Billion Dollar Unicorns: 23andMe In High Gear

    According to a recent report from Research and Markets, the global genetic testing market is estimated to grow from $4.6 billion in 2017 to $5.8 billion in 2022 at a CAGR of 11.7% driven by aging global population, rising incidences of genetic and hereditary diseases, growing awareness, technological advancements and rise in application of genetic testing for early detection of various diseases. A major player and Billion Dollar Unicorn in this market is 23andMe. 23andMe’s Journey Mountain View, California-based 23andMe was founded in 2006 by Chief Executive Anne Wojcicki, Linda Avey, and Paul Cusenza to help people access and benefit fro...
    On December 5, 2017 / By
  • Finance 0

    How Equity Returns Stack Up

    With the S&P 500 finishing November with a gain of 3.1% on a total return basis, the index saw its 13th straight month of gains. That’s right. Since last November’s election, US equities haven’t seen a down month, which is pretty remarkable when you think about it. With such continuous strength, the S&P 500’s total return over the last 12 months has been a gain of 22.9%, which is nearly double the historical average of 11.7%! In the chart below, we have compared the S&P 500’s current one, two, five, ten, and twenty-year annualized total returns to their historical averages going back to the late 1920s. In the short to in...
    On December 5, 2017 / By
  • Finance 0

    E More On Why Central Bankers Find It So Hard To Reach Their Inflation Targets

    Why, after eight years of economic expansion, does inflation remain in the doldrums, presenting a real challenge to monetary policy? In an earlier blog, I looked at how the digital revolution cut the costs of manufacturing and also the delivery of services to the extent that this revolution thwarted any prospects of inflation accelerating. In this note, I report on recent research done by the Federal Reserve on spending patterns that keep inflation down [1]. In particular, the research delves into price data by spending categories that are relatively insensitive to overall economic growth.  The researchers expect that the prices in these sec...
    On December 5, 2017 / By
  • Finance 0

    Dr. Copper Plunges To 3-Month Lows As ‘Global Growth’ Narrative Stumbles

    Remember in October, as copper soared incessantly, signaling that the global ‘synchronized’ recovery was well underway and everything was awesome… well it’s not anymore! Copper is back below $3 as China slowdown concerns start to get priced in… Additionally, Bloomberg reports that copper inventories held in the London Metal Exchange’s global warehouse network jumped on Tuesday, ending a 14-day streak of drawdowns and suggesting that the seesawing trend in copper stockpiles on the bourse isn’t over yet. With prices trading at their lowest in 2 months, the spike may dent sentiment further by signaling that ...
    On December 5, 2017 / By
  • Finance 0

    October Trade Deficit At $48.7B, Worse Than Forecast

    The U.S. International Trade in Goods and Services, also known as the FT-900, is published monthly by the Bureau of Economic Analysis with data going back to 1992. The monthly reports include revisions that go back several months. This report details U.S. exports and imports of goods and services. The Bretton Woods agreement, which established a stable foreign currency exchange system collapsed in 1971 and as a result, currency values began to float freely and the US dollar was no longer tied to gold values. Since 1976, the United States has had an annual negative trade deficit. The International Monetary Fund and the International Bank for ...
    On December 5, 2017 / By
  • Finance 0

    Bitcoin: What You Need To Know

    Bitcoin is trading at over $11,000. What is it? Should you consider buying? Shelly Palmer explains the cryptocurrency and talks about the risks and possible rewards with Sukanya Krishnan and Jennifer Lahmers on Fox 5. Original Airdate: December 5, 2017...
    On December 5, 2017 / By