The former BOJ Governor Shirakawa was not sufficiently activist for Prime Minister Abe who pledged to end Japanese deflation. Many bureaucrats in the BOJ were influenced by Shirakawa’s approach. Abe went to the opposite side of the ideological spectrum with the appointment of the activist Kuroda (note that Shirakawa refers to white in Japanese and Kuroda refers to black). Several key votes, including the asset purchase program and the next interest rates, were decided by a 5-4 vote, where ostensibly Kuroda cast the deciding vote. Gradually, Abe has made appointments to the board to give Kuroda greater support. A new step was taken ea...
Quotable “Soon you will be where your own eyes will see the source and cause and give you their own answer to the mystery.” ? Dante Alighieri, Inferno Commentary & Analysis Are Comdols in the cross-hair if oil prices see $35? Based solely on our wave analysis, the short answer is yes.And near-term, the price action today in iron ore, copper, and gold isn’t helping commodity currencies (even though the rest of the majors are doing well against the dollar). It seems the most accurate correlation for the commodity currencies remains oil prices.We are expecting oil to see $35 before it goes higher; that is likely not good for commodity ...
Overview Select Energy Services (NYSE: WTTR) filed an S-1/A with the Securities and Exchange Commission and is expected to IPO this Friday, April 21, 2017. The company is offering 10.6 million shares of its common stock at a marketed price range of $15 to $18. It also has an additional 1.59 million shares as an overallotment option for its underwriters. The company expects to raise $175M through the offering of its shares. Assuming the stock prices at the mid-point of its price range, it would have a market cap value of $1.14B and trade at a 3.78x price/sales ratio. The underwriters are Credit Suisse, FBR, Wells Fargo Securities, BofA Merr...
The EUR/USD, GBP/USD and USD/JPY are analysed step by step looking at multiple frames and analysing Admiral Keltner band, Pivot Points, Fibonacci levels and trend lines. Discover what trading plan Chris will use for the upcoming trading week, also on Gold, EUR/JPY, and EUR/GBP. Video Length: 00:53:21...
Pharmaceutical companies are among the strongest dividend growth stocks in the market. For example, AbbVie (ABBV) and Gilead Sciences (GILD) both currently sport above-average dividend yields. When it comes to dividends, AbbVie has a head start over Gilead. Going back to its days as a subsidiary of Abbott Laboratories (ABT), AbbVie is a Dividend Aristocrat, a group of companies in the S&P 500 that have raised dividends for 25+ years. Both AbbVie and Gilead are highly profitable, with leadership positions in their respective therapeutic areas. However, the rough patch Big Pharma currently finds itself in, is affecting Gilead far more than...
EURUSD Daily Technical Outlook: EURUSD is testing resistance at the 1.07-handle where the 50% retracement of the March advance converges on the 61.8% line of the ascending pitchfork formation. Note that this level sits just above the monthly opening-range and if compromised on a close basis, would shift the focus higher in the pair heading deeper into April trade. Support rests at the confluence of the 100-day moving average and the lower median-line parallel at 1.0625 with broader bullish invalidation steady at 1.0583. A breach above this region keeps the long-bias in play targeting the 61.8% retracement of the late-March decline at 1....
We are quickly approaching the deadline for filing (and paying) our federal and state income taxes (extended to April 18 this year because of Emancipation Day), and that means it’s time for my annual post at tax time to help put things in perspective. 1. Some Historical Perspective. “In the beginning” when the US federal income tax was first introduced in 1913, it used to be a lot, lot simpler and a lot easier to file taxes; so easy in fact that it was basically like filling out your federal tax return on a postcard. The maximum marginal income tax rate in 1913 was only 7% on incomes above what would be $12 million today. For example, ...
What tentative hope had emerged for a rebound for the U.S. restaurant industry at the start of the year, was doused last month when in its February Restaurant Industry Snapshot, TDn2K found that “Restaurant Sales and Traffic Tumble in February” and reported that same-store sales fell -3.7% in February, with traffic declining -5.0%. It did, however, leave a possibility that things may turn around as a result of the prompt disbursement of withheld tax refunds in the month, which it suggested may have adversely affected sales and traffic. Alas, that did not happen, and restaurant struggles continued in March as sales and traffi...
If I had to pick one event that led to the housing bubble and subsequent financial crisis, it wouldn’t be difficult… The answer is easily the erosion of the Glass-Steagall Act — also known as the U.S. Banking Act of 1933. In the purest spirit of the legislation, Glass-Steagall was intended to keep commercial banking and investing banking separate. It worked quite well for the first 30 years. But greed would ultimately triumph over prudence. Banks began figuring out that Glass-Steagall was a hindrance to growth in the early 1960s. By 1962, under lobbying pressure, bank regulators began interpreting Glass-Steagall differently. So the thin...
Good day to all, after the long weekend we are back into trading action with the Dollar weakened at the end of last week but bulls still hoping for a full-scale reversal. For me, the key level to watch out is the 101.50 in the short-term Dollar index chart and the 98.80 support and March lows. The general view remains bullish for both pairs looking for 1.10 and 1.40 respectively with important support levels at 1.30-1.31 for USDCAD and 1.05 for EURUSD. The USDJPY is very close to my target and a bigger bounce could come from the 108 area. I cannot rule out an extension lower towards 104-105 but for this to play out, we need to remain below 11...