EUR is doing much better than AUD against the buck, but even EUR/USD has a very powerful bearish structure. It was a flat correction in wave 2 that now signals for a drop below 1.0492 and even down to 1.0400. But keep in mind that we have the ECB rate decision and press conference later today which could have some unexpected effects on this pair. EUR/USD, 1H...
Bank of America Corporation (BAC) stock is currently trading at $25.58 in the pre-market session. The stock is up 1.47%, and climbing fast. Of course, the most important news for the banking industry will come from the Fed. On Tuesday and Wednesday next week, the Fed FOMC will be convening to discuss monetary policy, vis-à-vis the federal funds rate. The consensus among leading analysts and policymakers is that Fed chair Janet Yellen will pull the trigger on an interest rate hike. We can expect the FFR to increase to 0.75% – 1.00% in short order, driving up demand for the USD and propelling bank stocks to new highs. Bank of America is one ...
Disney (DIS) held its annual shareholder meeting in Denver, Colorado on March 8, 2017 at the Colorado Convention Center. Shareholders were treated to coffee, tea, and bottled juices, but no food or pastries. (It’s possible D23 members had a better selection after the regular shareholder meeting.) Shareholders could also take pictures–available later at www.shareholderphotos.com–with characters Moana, Mickey Mouse, Captain America, and two Star Wars stormtroopers. The stormtroopers seemed to be the most fun, making authoritative comments like “Affirmative,” “Stand there,” and “Let me see your ...
Disney (DIS) held its annual shareholder meeting in Denver, Colorado on March 8, 2017 at the Colorado Convention Center. Shareholders were treated to coffee, tea, and bottled juices, but no food or pastries. (It’s possible D23 members had a better selection after the regular shareholder meeting.) Shareholders could also take pictures–available later at www.shareholderphotos.com–with characters Moana, Mickey Mouse, Captain America, and two Star Wars stormtroopers. The stormtroopers seemed to be the most fun, making authoritative comments like “Affirmative,” “Stand there,” and “Let me see your ...
The European Central Bank (ECB) may generate a limited market reaction as President Mario Draghi and Co. are widely expected to retain the current policy, but the fresh batch of central bank rhetoric may spark near-term headwinds for the Euro should the Governing Council show a greater willingness to further extend its easing-cycle. What’s Expected: Why Is This Event Important: Even though the ECB is on course to reduce its its asset-purchases to EUR 60B/month starting in April, the Governing Council may continue to strike a dovish outlook for monetary policy as officials argue ‘headline inflation had increased recently, mainly owin...
Eight years ago, the S&P 500 hit its Great Recession closing low, and since then, equities around the globe have been soaring. In fact, an S&P 500 investment on March 10th 2009 of $10,000 would have been worth over $40,000 today if you had been reinvesting dividends (according to data from Morningstar). But what were the best performing funds in this time frame? High-flying biotechs? Microcap stocks with big growth potential? Actually, among the best performers were value-focused funds. In particular, the most value-centric products of all were the leaders. Pure Value Of the top ten unleveraged ETFs since the bull market began, three...
After opening the day on a flat note, share markets in India have witnessed selling and are trading marginally below the dotted line. Sectoral indices are trading on a mixed note with stocks in the consumer durables sector and stocks in the auto sector leading the gains, while stocks in the oil & gas sector are trading in red. The BSE Sensex is trading down by 26 points (down 0.1%), and the NSE Nifty is trading down by 12 points (down 0.1%). Meanwhile, the BSE Mid Cap index is trading flat, while the BSE Small Cap index is trading down by 0.3% The rupee is trading at 66.75 to the US$. In news from the IPO space, the init...
Obama warned everyone back in 2009 that “elections have consequences.” Now, eight years later, we learn that apparently the “consequences” of running around the country for nearly a decade threatening to raise taxes, “spread the wealth around” and pursue any number of other socialist policies are a record number of people renouncing their U.S. citizenship. As Fortune points out, the United States, unlike almost every other country in the world, taxes people on the basis of citizenship rather than residency.So even if you spend all of your adult, wage-earning years on a remote tropical island with a 0% t...
The NZD/USD has been dropping consistently within the Equidistant channel versus its counterpart USD mainly due to expectations the Federal Reserve will raise interest rates next week while the Reserve Bank of New Zealand keeps its rate low. Additionally, the dairy prices fell in the overnight auction, adding to overall NZD weakness. The POC zone is 0.6935-50 (H4, DPP, equidistant channel top, ATR top) and we might expect new rejection if the price gets within the zone. 1h momentum or 4h close below 0.6890 marks the continuation towards 0.6858 and 0.6840. The ATR has been low but consistent so the NZD could be also suitable for traders who...
EUR/USD intra-day analysis EUR/USD (1.0531): EUR/USD is seen testing the support level at 1.0532 – 1.0521 on the 4-hour chart. A break down below this support level could signal further declines in store, while to the upside the gains could be limited to 1.0600. Thus, the EUR/USD could continue to remain range bound in the near term as the single currency will also come under pressure from tomorrow’s non-farm payrolls report which is looking to show another solid month of hiring. Thus, despite any hawkish tilt from the ECB today the gains could likely come under pressure, if not with tomorrow’s NFP then next week’s FOMC meeting. G...