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EUR/USD To 1.19 In 2017 And Beyond In 2018? Two Opinions
EUR/USD had a positive week, gaining some ground within the range. Can it extend its gains further? Here are two opinions: one for 2017 and the other for 2018: Here is their view, courtesy of eFXnews: EUR/USD: Price-Action Into Year-End; 1.19-1.20 Or Bust – ANB AMRO ABN AMRO FX Strategy Research discusses EU/USD outlook and price action, outlining 4 reasons behind the single currency’s strength this week First, investors still strongly believe in a stronger euro. Second, the positive impact of the US tax plan on the dollar seems to have faded as there is uncertainty when there will be a vote and when the effect on the economy will be f... -
Finance 0
Central Bank Outlook Dominates 2018 Predictions
At the end of every year, Saxo Bank publishes its ten outrageous predictions for the year ahead, which tend to go against market consensus. Indeed, at the end of 2016, while consensus was calling for a continued economic recovery, Saxo was predicting a “departure from the ‘business as usual’” mentality that’s plagued businesses and central banks since the 2009 crisis. As it turns out, not all of these predictions were as outrageous as they first seemed. For example, the asset manager predicted that Bitcoin would surge in value from $700 to $2,100. As it turns out, this was a conservative estimate. Saxo also predicted that US... -
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Will The Light News Week Facilitate Range Trading?
Last week, we warned that dollar’s downside correction to its two-month advance was not over. It slipped further against the euro, yen, and sterling, while it strengthened against the dollar-bloc currencies. The outlook remains mixed for the week ahead, making it difficult to discuss the dollar in general. The Dollar Index is heavily weighted toward the complex of European currencies. Two of the US main trading partners, China and Mexico, are not even included, yet are frequently used as a broad gauge for the greenback. The recent dollar pullback saw it push through the 38.2% retracement of the rally (93.55) that began from th... -
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USD/CHF: Bearish, Eyes Further Downside Pressure
USD/CHF: The pair looks to weaken further lower having declined the past week. On the downside, support lies at the 0.9850 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur towards the 1.0000 level. Further out, resistance comes in at the 1.0050 level. Above here if seen will turn attention to 1.0100. All in all, USD/CHF faces further downside pressure.... -
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HH Moody’s Boosts Modi: India Gets First Sovereign Credit Upgrade Since 2004
Moody’s upgrade to India’s credit rating comes as a much-needed boost for India’s Prime Minister, Narendra Modi, who has been criticised for the fallout from the goods and services tax (GST) and demonetisation reforms. Indeed, Moody’s argued that Modi’s reforms will help to stabilize India’s rising debt levels. According to Reuters. Moody’s Investors Service upgraded its ratings on India’s sovereign bonds for the first time in nearly 14 years on Friday, saying continued progress on economic and institutional reform will boost the country’s growth potential. The agency said it was lifting India’s rating to B... -
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Cisco (CSCO) Stock Hits 52-Week High Backed By Q1 Results
Shares of Cisco Systems Inc. (CSCO – Free Report) rallied to a 52-week high of $36.67, eventually closing a tad lower at $35.88 on Nov 16. The share price momentum can be primarily attributed to the company’s fiscal first-quarter 2018 earnings that came ahead of expectations. The company’s encouraging guidance has also been one of the tailwinds. Cisco reported non-GAAP earnings of 61 cents per share in fiscal first-quarter 2018, beating the Zacks Consensus Estimate by a penny. Notably, revenues of $12.14 billion were almost in line with the Zacks Consensus Estimate. Acquisitions contributed 60 basis points (bps) to revenue growt... -
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S&P 500 Snapshot: Down 0.13% From Last Week
The S&P 500 opened Friday below yesterday’s close and oscillated around a small range throughout the day, closing with a daily loss of 0.26% and a weekly loss of 0.13%. Year-to-date, the index is up 15.19%. The U.S. Treasury puts the closing yield on the 10-year note at 2.35%. Here is a daily chart of the S&P 500. Today’s selling puts the volume 2% above its 50-day moving average. Here’s a monthly snapshot of the index going back to December 2008. A Perspective on Drawdowns Here’s a snapshot of record highs and selloffs since the 2009 trough. Here is a more conventional log-scale chart with drawdowns highligh... -
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U.S. Inflation Picks Up Steam — Is A December Rate Hike Likely?
On today’s special podcast edition of Market Week in Review, Consulting Director Sophie Antal Gilbert chatted with Mark Eibel, director, client investment strategies, about the latest U.S. core inflation and retail sales numbers and the impact they could have on the U.S. Federal Reserve (the Fed) as it weighs a December funds rate hike. Encouraging U.S. economic data for October: What could it mean for the Fed? The numbers released by the U.S. Department of Labor on Nov. 15 showed a 1.8% year-over-year increase in core inflation during October. “While that’s still a little below the magic 2% number that the Fed is looking for, it’s ge... -
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HH Is It Time To Get Back In Oil Stocks?
Energy stocks have turned around lately, but they have been big-time laggards this year. The sector’s travails didn’t start this year; it has been struggling since about mid-2014 when oil prices turned south and didn’t settle down till early 2016. The single most important variable driving energy company stocks is the price of oil. You are not to blame if you gave up on these stocks after repeated attempts over the last few years, with each attempt bringing more pain. It hasn’t been easy to make money in energy stocks lately, but we can’t just walk away from a sector that accounts for the 6th highest market capit... -
Finance 0
What Happens When Quantum Computing And AI Merge?
There’s a global arms race among companies and nations to achieve supremacy in both quantum computing and AI, Woody Preucil at 13D Research recently explained to Financial Sense Newshour listeners. Though many are still unaware of the events taking place—with significant breakthroughs just in the last couple of years—these two technologies are accelerating quite rapidly with heavy investments being made by the likes of Google, Alibaba, IBM, and, particularly, the militaries of China, Russia, and the US. Here’s some of what Woody had to say on our FS Insider podcast this week. “There’s a massive global race underway...
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