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EUR/USD Continues To Ease Off – Market Least Short Since May 2014
Fundamental Forecast for EUR/USD: Neutral – EUR/USD losing ground in May falls in line with twenty year seasonality trends. – The retail crowd remains net-short EUR/USD but shifting rapidly – see live SSI updates. – Check in on the EUR/USD quarterly forecast, “EUR/USD Stuck in No Man’s Land’s Headed into Q2’16 – Don’t Discount ‘Brexit’” To receive reports from this analyst, sign up for Christopher’s distribution list. The Euro took a small step back last week, with EUR/USD losing ground especially quickly over the last two days of the week as US economic data started to turn in a bit better th... -
Finance 0
Core Laboratories (CLB) Upsizes Common Stock Offering
Leading oilfield services company, Core Laboratories N.V. (CLB – Analyst Report), declared the pricing of the public offering of 1,475,000 shares of its common stock. This number has been raised from 1,300,000 shares of its common stock. The stock offering, which is anticipated to close on May 17, 2016, is subject to customary closing conditions. The shares will be offered for sale on the New York Stock Exchange or the Euronext Amsterdam from time to time in one or more transactions. The shares will either trade at negotiated prices or at the market prices at the time of sale. Core Laboratories will provide underwriters with an opt... -
Finance 0
After An Abysmal First Quarter, Second Quarter Earnings Expectations Are Already Tumbling
The first quarter earnings season is almost over (91% of companies have reported) and the results, while not quite as dire as forecast just over a month ago, still led to the worst quarterly report since the financial crisis, mostly due to a widely expected collapse in energy revenues and earnings. However the big surprise was the disappointing misses in numerous consumer and retail stocks, the result of which was a plunge in the retail index. … even though on Friday the US government reported that April retail sales that were supposedly the strongest in 13 months. The government data was so “good” in fact that even establ... -
Finance 0
Bank Of England Warns On Economic Risk Of “Brexit”
Mark Carney, Governor of the Bank of England, has drawn the ire of the various “Leave” campaign groups by having the temerity to suggest that the UK could fall into a technical recession if the nation decides to cease its membership of the EU in next month’s referendum. Minutes from the latest meeting of the Monetary Policy Committee of the Bank of England noted that a vote to leave could lead to a fall in the value of Sterling, a reduction of UK growth and an increase in UK unemployment. Supporters of the UK continuing its membership of the EU have seized on the comments as impartial evidence for their cause. PM David Cameron called th... -
Finance 0
Possible Outlier Outcome In Treasuries Coming Soon?
Since Treasuries made their respective highs in mid February, we held an intermediate-term outlook that yields could drift higher through the spring, before exogenous market pressures again arose pushing participants back into the safe haven shores of long-term Treasuries. Overall, yields have drifted above their respective lows from February, albeit modestly, and in a flagging and diminishing range from the highs in early March [as can be seen in Figure 1 below]. While the backdrop for long-term Treasuries has largely remained a benevolent place for investors this year, the markets have again traded in a descending range from their Februa... -
Finance 0
Gold Looks For Directional Bias
Though vulnerable to the downside on correction, gold, the commodity, is now looking for directional bias on the daily chart. On the downside, support comes in at the 1,260.00 level where a break will turn attention to the 1,250.00 level. Further down, a cut through here will open the door for a move lower towards the 1,240.00 level. Below here if seen, could trigger further downside pressure targeting the 1,230.00 level. Conversely, resistance resides at the 1,275.00 level where a break will aim at the 1,280.00 level. A turn above there will expose the 1,290.00 level. Further out, resistance stands at the 1,300.00 level. All in all, gold loo... -
Finance 0
Fresh Losses With Russell 2000 Under Pressure
The Russell 2000 experienced a third day of loses to push below the 50-day MA with technicals net bearish following the loss of stochastics [39,1] below the mid-line. Relative performance (against the Nasdaq) has also been in a downward trajectory since late April and is on the verge of a bear cross. The S&P also saw its technicals turn net bearish. Rate-of-Change is holding to a possible swing low as the index finished Friday on the neckline of a potential head-and-shoulder reversal pattern. Buyers don’t have a whole lot of room to maneuver if these factors are to play as support – look for a positive open. The Nasdaq f... -
Finance 0
11 Stocks Building Value With Higher Dividends
Most good things are worth waiting for. If you are to establish a long-term relationship with a stock, it better be a quality stock. Time is a powerful force, with it we can overcome poor choices, poor timing and bad decisions. Without it, we immediately are forced to pay for our indiscretions. When it comes to building retirement income, I look for stocks that have consistently increased their dividends for many consecutive years. Below are several stocks building future gratification with higher cash dividends: NiSource Inc. (NYSE:NI), an energy holding company, provides natural gas, electricity, and other products and services in the Uni... -
Finance 0
Fidelity Total Bond Fund (FTBFX) In Focus
Fidelity Total Bond (FTBFX – MF report), a Zacks Ranked #2 (Buy), seeks a high level of current income. FTBFX normally invests the majority of its assets in debt securities of all types and repurchase agreements for those securities. The Fidelity Total Bond fund, managed by Fidelity, carries an expense ratio of 0.45. Moreover, FTBFX requires a minimal initial investment of $2,500. FTBFX has a history of strong positive total returns for over 10 years. Specifically, the fund’s returns over the 1, 3, 5 year benchmarks; 1 year 2.19%, 3 year 2.36%, and 5 year 3.95%. To see how this fund performed compared in its category, please clic... -
Finance 0
Gold Prices Rise, Crude Oil Weakens As Risk Appetite Evaporates
Talking Points: Gold prices find support as risk aversion weighs on Treasury yields Crude oil prices may form a double top below the $47.00/bbl figure US retail sales, consumer confidence and rig count data eyed ahead Gold prices are finding support in the final hours of the trading week as risk aversion sweeps financial markets. The dour mood is driving safe-haven buying of US Treasuries, boosting prices and weighing on rates. In a broad sense, this represents erosion in the advantage of yield-bearing assets relative to alternatives, offering support to the yellow metal. Typically sentiment-sensitive crude oil prices are trading lower b...
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