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SocGen And Goldman More Bullish On Gold
Last week, Société Générale and Goldman Sachs revised upwards their gold forecasts. What does it imply for the gold market? Two large financial companies upped their gold forecasts last week. Société Générale now expects that the price of gold will average $1,225 per ounce in the third quarter and $1,200 in the fourth quarter, up from its previous outlook of $1,175 and $1,125, respectively. Although the outlook is more positive, the company still looks for the metal to ease by the end of the year. The two main reasons for such a forecast are the Fed’s tightening and the softened political uncertainty. As we can read in Société Gé... -
Finance 0
Dollar Drives Higher Post-NFP: USD/JPY Rips, EUR/USD Dips
It was another big week for global markets as we opened Q3 as the global bound rout continued. With growth numbers in Europe remaining relatively strong, markets are continuing to try to front-run an inevitable stimulus exit from the European Central Bank; and this continued to show throughout the week as the Euro continued to strengthen. Non-Farm Payrolls was released this morning with a hearty beat above the expectation of +178k. The print came-in at +222k, but we also saw the unemployment rate rise to 4.4% from a prior 4.3%. Perhaps more disconcerting, wage growth remains weak, and given that inflation has been a major push point for the ... -
Finance 0
Buy MOMO Now Before The Bounce?
Momo, Inc. (MOMO), operates as a mobile-based social networking platform in China. The platform includes a mobile app for networking, a video chat app, mobile video games, paid emoticons, mobile marketing, and other services. The company was founded in 2011 and is headquartered in Beijing. An English based platform for the U.S. is in the works. Why We Are Recommending MOMO: Momo, Inc. IPO’d in late 2014 but the stock could not gain much traction for about 18 months, trading just above and below it inaugural price of $14. All that changed in late August last year when the stock broke out of the range and hit new IPO highs on strong volume. T... -
Finance 0
Did Tesla Run Out Of Gas Or Get Hit By A Mack Truck?
If you take a good look at the price chart of Tesla, the way you would take a good look at the Tesla Model S if you had one sitting in your driveway or garage, you would have to notice that while the car looks superb and like it wants to run at 200 miles an hour-lifting your spirits and heart rate, the price chart indicates something is terribly wrong and that it might be heading to $200 per share and give you cardiac arrest instead. Don’t get me wrong, on both sides of the equation are equally happy and very unhappy Traders and investors. You see if you bought at the December lows of 2016 you are smiling from ear to ear and you might actua... -
Finance 0
Where The June Jobs Were: More Minimum Wage, Surge In Government Hiring
Another month, another increase in minimum wage jobs such as healthcare and education, which is hardly a surprise but this time an unexpected source of hiring emerged: the government. First, a quick recap of the key sectors that added jobs in June: healthcare added a total of 59,000. Of this, social assistance employment increased by 23,000 in June and has added 115,000 jobs over the last 12 months. Employment in financial activities rose by 17,000 in June and has grown by 169,000 over the year. Securities, commodity contracts, and investments added 5,000 jobs over the month. Mining employment grew by 8,000, with most of the growth in support... -
Finance 0
IPO Prospects: Zuora Inching Towards An IPO
According to a recent Gartner report, global spending on SaaS or cloud application services will grow 20% to reach $46.3 billion in 2017. The resulting rise in subscription economy has benefitted Mountain View, California-based Zuora, which helps companies deal with the billing and pricing complexities involved in running subscription-based businesses. Photo Credit: Erich Ferdinand/Flickr.com Zuora’s Offerings Zuora was founded in 2007 by K.V. Rao, Cheng Zou, and CEO Tien Tzuo, industry veterans from WebEx and Salesforce.com. They were convinced that organizations were migrating to a business model where they would offer services through ... -
Finance 0
The Risk Parity Unwind Is Underway – But One Strategist Says It’s Fine
Given what we’ve seen this week in terms of DM yields spiking and that spilling over into equities, this is probably a good time to remind you that the 800-pound gorilla in the room is risk parity and the potential for a deleveraging episode. As I’ve noted on several previous occasions, the gorilla analogy probably isn’t the best when it comes to the risk parity crowd because in that analogy, the gorilla’s weight is known. One of the biggest problems with risk parity is that no one knows exactly what we’re talking about in terms of size, although we do know it’s somewhere between a half trillion and a trillion dollars. Of course ... -
Finance 0
Tesla Testing Key Support After 100% Rally, Says Joe Friday
Tesla (TSLA) has been white hot this year, influencing the Nasdaq and broad markets in a positive way. The rally took Tesla to a key Fibonacci level of late, where it stopped on a dime and headed south fast. Below looks at this key Fibonacci extension level and how it is testing another important level at weeks end below: The Power of the Pattern applied Fibonacci to the high in 2014 and the low in 2016 at each (1). The 161% extension level of these highs and lows at (1) came into play at the 387 level at (2), where TSLA stopped on a dime. Joe Friday Just The Facts– Tesla is testing rising channel support at (3), after a 100% rally in less... -
Finance 0
RecessionAlert Weekly Leading Index – Friday, July 7
The latest index reading came in at 26.2, up from the previous week. The RecessionAlert Twitter Feed, @RecessionAlert2, had an interesting observation about the indicator levels in February. RecessionAlert has launched an alternative to ECRI’s Weekly Leading Index Growth indicator (WLIg). The Weekly Leading Economic Index (WLEI) uses fifty different time series from these categories: Corporate Bond Composite, Treasury Bond Composite, Stock Market Composite, Labor Market Composite, Credit Market Composite. RecessionAlert emphasizes that WLEI is a growth index and its data is no more than a week old, as is ECRI’s WLIg. Here is... -
Finance 0
E The Great BOJ Rotation In Place Of QE Exit
The latest nail in the coffin of beleaguered BOJ Governor Kuroda came in the form of unattributed leaks from his colleagues. These leaks assert that the BOJ will lower its inflation forecast, whilst simultaneously keeping the current monetary stimulus at the same level. The signal is that Kuroda wishes to patiently press on with his journey to hit his inflation target and that this journey just lengthened in time. The problem for Kuroda is that he does not have the luxury of time on his side. If anything, his growing list of critics will use this, inflation forecast lowering and lack of monetary policy response, as a symbol of failure that wi...
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