Latest Posts
-
Finance 0
EUR/USD: Follows Through Lower On Bear Pressure
EUR/USD: With EUR/USD following through lower on the back of its Thursday losses on Friday, further downside pressure is expected. Support lies at the 1.1300 level. Further down, support comes in at the 1.1250 level where a violation will aim at the 1.1200 level. A break of here will target the 1.1150 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1400 level with a cut through here opening the door for more upside towards the 1.1450 level. Further up, resistance lies at the 1.1500 level where a break will expose the 1.1550 level.. All in all, EUR/USD faces a further... -
Finance 0
EUR/USD And GBP/USD Forecast For May 13, 2016
EUR/USD The EUR/USD pair fell during the day on Thursday, as we continue to bounce around the 1.14 level. However, I think there is enough support just below to turn things back around and eventually we should reach towards the 1.15 level. After all, the Federal Reserve looks less likely to raise interest rates as quickly as one would have thought previously, and the market continues to come to grips with that. If we can break above the 1.15 level, we should continue to go even higher, perhaps reaching towards the 1.16 level. Every time we pullback from here, we should see supportive action and eventually a supportive candle in order to start... -
Finance 0
Everyone Is Still Selling: Biggest Monthly Outflow From Global Stocks Since US Downgrade
One recurring question over the past few weeks has been “who is buying” stocks in a world in which not only the smart money, but everyone else too is selling. The latest Lipper data will not provide the answer because as BofA reports, in the latest week there was another $7.4bn in outflows (the 5th straight week) driven by $4.8bn in mutual fund outflows and $2.7bn ETF outflows, leading to a $44bn equity exodus past 5 weeks, which as Michael Hartnett points out is the “largest redemption period since Aug’11”, or when the US downgrade sent US stocks into a bear market tailspin. Digging into equity flows we find the f... -
Finance 0
Morning Call For May 13, 2016
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM16 -0.21%) are down -0.28% and European stocks are down -0.36% on global growth concerns after Eurozone Q1 GDP was revised lower and as loan growth in China fell to the slowest pace in 6 months. U.S. stocks were also dragged down by weakness in retailers as Nordstrom plunged 16% in pre-market trading after it cut its full-year earnings forecast and added to evidence that the U.S. department-store industry is in a deep slump. A slide in media stocks also undercut European stocks led by a 30% fall in Eutelstat Communications which cut its forecasts for this year and next. Crude oil (CLM16Â... -
Finance 0
Utility Stocks Pack A Punch Among US Sectors
The US stock market is looking wobbly again, but you wouldn’t know it by reviewing the trend in utility stocks. This interest-rate sensitive slice of equities continues to dominate the sector horse race, based on a set of proxy ETFs. The Utilities Select Sector SPDR ETF (XLU) is firmly in the lead so far this year through May 12 among the main US sectors. The ETF is sitting on a strong 15.5% total return year to date and is higher by nearly 18% for the trailing one-year period. XLU’s bull-market bias looks good in absolute and relative terms. Indeed, the recent gains for the US market overall have dwindled to a crawl lately. The SPDR S&am... -
Finance 0
Piper Sees Amazon Geting ‘Cozier’ With Salesforce In 2016
Piper Jaffray analyst Alex Zukin highlights that news sources this week reported that Salesforce (CRM) will be building its new Internet of Things offering on Amazon Web Services (AMZN). This is a “notable shift” as Salesforce typically relies on its own infrastructure when it comes to deploying its software, Zukin tells investors in a research note. He believes the deal could represent “just the tip of the iceberg” of the two companies working together. In fact, Zukin sees 2016 as the year that Amazon makes a push to “get cozier” with Salesforce. The analyst sees three potential outcomes from the two compa... -
Finance 0
Three Overlooked, Undervalued Picks For Today’s Energy Market
The energy sector is a tricky place to invest right now, with a fine line separating the next bankruptcy candidate from a tenbagger. Chen Lin of the popular newsletter What Is Chen Buying?, What Is Chen Selling? helps investors navigate this minefield with three companies he believes will come out on top. Pan Orient’s Batu Gajah, Indonesia The recent news of Pacific Exploration and Exploration Corp. (PRE:TSX) offers fresh reminder to energy investors how dangerous the investment field of energy stocks can be. When a company goes to bankruptcy, in most cases shareholders get wiped out. Your shares, no matter how low the cost basis is, ... -
Finance 0
E Market Briefing For Friday, May 13
Proximity to rate hikes reflected upon by a couple of Fed Presidents, didn’t halt the midday selling reprieve, which suggests (no surprise) traders are trying very hard to deter an approach to the ‘edge of a precipice’, which is fairly obvious just by noting levels from which every recent bounce of significance has occurred. Technically the market bounced right from where it needed too (take a look at the S&P daily-basis chart or the video). Additionally we indeed got the expected late fade, and a set-up for more downward action on Friday. This evening we’ll let the charts and video tell the story; plus a few comme... -
Finance 0
Stocks Close Mixed And Mostly Unchanged
U.S. equities finished the regular trading session mixed as gains were led by the consumer staples sector and health care stocks lagged. The Street digested another round of retail earnings reports, while Treasuries were lower despite an unexpected jump in weekly jobless claims. The U.S. dollar and crude oil prices were higher and gold was lower. The Dow Jones Industrial Average (DJIA) gained 9 points (0.1%) to 17,721, the S&P 500 Index was nearly unchanged at 2,064, and the Nasdaq Composite was 23 points (0.5%) lower at 4,737. In moderately-heavy volume, 932 million shares were traded on the NYSE and 1.9 billion shares changed hands on t... -
Finance 0
BOE Keeps Interest Rate At 0.5%, Warns Of Brexit Risks
The Bank of England kept its key interest rate at a record low of 0.5% on Thursday and made no changes to its 375-billion-pound ($540.06 billion) asset purchase program. In a unanimous vote, the Monetary Policy Committee decided not to make any changes before a June 23 referendum in the U.K. on whether the country should stay or exit the European Union. Meanwhile, it cut its growth forecasts, pointing to subdued inflation. According to policy makers, “The most significant risks to the [bank’s] forecast concern the referendum. A vote to leave the EU could materially alter the outlook for output and inflation, and therefore the appr...
Top Posts
-
The Importance for Individuals to Use Sustainable Chemicals
-
Small Businesses: Finding the Right Candidate for the Job
-
How to Write the Perfect Thank You Letter After Your Job Interview
-
3 Best Large-Cap Blend Mutual Funds For Enticing Returns
-
China suspected in massive breach of federal personnel data
