Japan’s Line corp. has postponed fixing a preliminary price range for its IPO till Tuesday due to the current market environment, said the firm in a regulatory filing. Originally scheduled on Monday, the initial public offering was moved by one day. The messaging app firm still aims to list in New York on July 14 […]
The Chinese yuan dropped to its weakest point against the greenback since December 24, 2010 after Britons decided the U.K. should leave the European Union. The yuan trading at 6.6408 in the onshore market. The yuan settled at 6.6375 against the dollar from Friday’s midway point of 6.577 and now trades in the onshore market […]
Since May 2006, the ADP National Employment Report has released a monthly estimate of U.S. nonfarm private sector employment growth using actual payroll data. The report is designed “to predict private-sector employment prior to the release of the CES [Bureau of Labor Statistics’ monthly Current Employment Statistics survey] report.” Do the ADP estimates affect or predict U.S. stock market returns on More
Since May 2006, the monthly ADP National Employment Report has released a monthly estimate of U.S. nonfarm private sector employment growth using actual payroll data. The report is designed “to predict private-sector employment prior to the release of the CES [Bureau of Labor Statistics’ monthly Current Employment Statistics survey] report.” Do the ADP estimates affect or predict U.S. stock market returns […]
So far I have managed to stay completely silent on the topic of Brexit, at least on this blog. However, I have been asked many times if I have a secret investment plan for surviving and even thriving in the event that the UK voted to leave the EU.Since we now have just such a […]
So far I have managed to stay completely silent on the topic of Brexit, at least on this blog. However, I have been asked many times if I have a secret investment plan for surviving and even thriving in the event that the UK voted to leave the EU.Since we now have just such a vote I thought it would be remiss of me not to say a few words, although I will be sticking purely to my secret investment plan and not wandering into the murky world of politics.I’ll work through each of the major points in turn and then reveal my secret plan:Point 1: A vote to leave the EU means more uncertaintyI think it would be difficult to argue against this point, in the short to medium-term at least.Although the long-term uncertainty around both the Remain and Leave outcomes is probably about the same, i.e. nobody has the faintest idea how the world will look 10, 20 or 30 years from now, I think we can safely say that over the next few years the future of the UK economy just got a whole lot more uncertain.Point 2: The future was, is, and always will…
Good morning!Well, what a shambles everything seems to be at the moment! Worse than that, Coldplay announced yesterday at Glastonbury that the country has collapsed. Perhaps a few more “Woah-oh-woahs!” are needed to straighten things out?Markets hate uncertainty as we know, and it’s difficult to think how there could be any more uncertainty right now. The […]
Good morning!Well, what a shambles everything seems to be at the moment! Worse than that, Coldplay announced yesterday at Glastonbury that the country has collapsed. Perhaps a few more “Woah-oh-woahs!” are needed to straighten things out?Markets hate uncertainty as we know, and it’s difficult to think how there could be any more uncertainty right now. The market is doing what it is supposed to do – pricing in the risk of a downturn.Results of an Institute of Directors survey, published this morning, reinforce my view that a downturn is now fairly likely. Not necessarily a deep recession, but some degree of economic downturn now looks inevitable in my view. Although prices in some sectors (e.g. housebuilders) are down so much, that any sign of things returning to normal could trigger an equally rapid rally, who knows?Personally, I don’t think the UK actually will leave the EU. The establishment are dead against it, and have indicated no intention to serve a S.50 notice until October, at the earliest. Even Brexit politicians seem to be rapidly back-tracking on things they said during the campaign. That gives time for the dust to settle, and a compromise deal to be thrashed out with the EU, on the quiet. Meanwhile, as the…
Good morning!Well, what a shambles everything seems to be at the moment! Worse than that, Coldplay announced yesterday at Glastonbury that the country has collapsed. Perhaps a few more “Woah-oh-woahs!” are needed to straighten things out?Markets hate uncertainty as we know, and it’s difficult to think how there could be any more uncertainty right now. The […]
Political Uncertainty Sparks Follow On Selling Morning Report: 07.00 London• After an historic day on Friday, world markets are bracing themselves for a fresh round of volatility. Following the Brexit result, world markets are having to content with a Tory leadership contest, the prospect of Scotland leading the UK and a Labour party in complete […]
Global macro overview for 27/06/2016: Last Friday, the US Durable and Core Durable Goods Orders data were released, and both of them failed to meet market expectations. The Durable Goods Orders decreased 2.2% in May, while the forecast stood at a 0.5% decline. At the same time, April’s data was revised down from 3.4% to […]
Global macro overview for 27/06/2016: In his first public speech after Brexit, UK finance minister George Osbourne said this morning, that the UK is ready to confront the future. Moreover, he admitted, that UK growth has been robust and the economy has to adjust to the current situation. The contingency plans are in place and […]
The share average of Nikkei recovered on Monday as government officials assured they might intervene in the currency markets to stabilize yen after the British voted to exit the European Union. The Japanese Nikkei jumped 2.4 percent to 15,309.21 after plunging 7.9 percent on Friday. The broader Topix advanced percent to 1,225.76 and the JPX-Nikkei […]
Shares in Europe dropped on Monday, although the Madrid market jumped after the election result in Spain. The Pan-European STOXX 600 and FTSEurofirst 300 indexes both plummeted 0.6-0.7 percent. The FTSE 100 fell 0.4 percent, adding to a 3.2 percent crash on Friday due to country’s shock decision to leave the European Union. Spain’s IBEX […]
General overview for 27/06/2016: The market is trying to complete the wave (Z) of the overall corrective structure in wave B before the uptrend will eventually resume. The most important level for bulls is the technical resistance at the level of 115.48 as any breakout above this level opens the road towards the wave (X) […]
The United Kingdom’s vote to leave the European Union left global leaders confronting the threat of contagion and economic turmoil that may soon spread throughout the world. In a shocking blow to pan-European enthusiasts ranging from the United States to the EU itself, the Leave vote received 52% of the ballot on Thursday, confounding the […]
European cities including Frankfurt and Paris can benefit the most when Britain moved to cut relations with the European Union in last week’s referendum, as thousands of employees at biggest financial institutions may ditch their operations in the country. Official referendum results showed 52% of voters backed exiting the EU, while 48% supported staying in […]
General overview for 27/06/2016: The impulsive wave to the upside is developing as anticipated before with the top of wave iii at the level of 1.3097. Currently, the market is in a corrective cycle with wave iv/a already completed. Nevertheless, this internal correction might evolve into a more complex and time-consuming cycle, for example, a […]
Japanese Prime Minister Shinzo Abe warned voters against supporting the opposition in the light of upheaval in global financial markets as the United Kingdom moved to cut its relations with the European Union in last week’s referendum. Abe’s Liberal Democratic Party presumed its huge gain in the upper house election on July 10. Experts said […]
This week has started with a gap up as the Dollar is opening the week with a bullish note. We could see a pullback today or even tomorrow in order to fill the gap but the overall trend remains bullish. The Dollar index retraced the 50% of the rise and is now moving higher once […]
Gold is still consolidating in a sideways movement as we expected after the big upward spike following the result of the UK referendum. The price is expected to continue higher towards $1,400. The medium-term trend remains bullish as long as the price is above $1,250 targeting $1,400 and higher. Green horizontal line – short-term support […]
The United Kingdom is prepared enough to face the impacts of exiting the European Union, with Chancellor George Osborne assuring the markets the economy is about as firm as it could be. Speaking before the European market open, Osborne, one of Vote Remain’s key campaigners, said he fully accepted the outcome of last week’s referendum. […]
Japan’s Deputy Chief Cabinet Secretary Hiroshige Seko said all possible measures need to be taken to ensure market stability with a close eye on short-term moves in financial markets. The spokesman said the Japanese government would keep an eye on the Brexit’s impact on the real economy of the country. He noted that the government […]
The Pound continues to get pounded after the country’s vote to leave the EU. During the weekend the political implications from the Brexit were significant as the Scottish National Party leader has threatened to veto a Brexit as the vast majority of Scotland voted for Remain. As a result, UK’s economic outlook was cut by […]
Wave summary: Wave (ii) has turned into an expanded flat correction. We have waves a and b in place and are looking for wave c higher to 1.5935 and maybe even closer to 1.6005 before wave (iii) lower towards 1.4490 takes over. When a second wave turns into an expanded flat correction, an extended third […]
Wave summary: We continue to look for more downside closer to 107.87 to complete wave iii and set the stage for a complex but shallow correction in wave iv. In the short term, we will ideally see minor resistance at 112.60 protect the upside for more downside pressure towards the ideal target for wave iii […]
AUD/USD is expected to trade with a bullish bias above 0.7370. Though the pair slumped to a day-low of 0.7302 on Friday, it rebounded to a reaction high of 0.7510 before encountering resistance. Currently, it remains in a consolidation phase while trading above the key support at 0.7370. The intraday relative strength index stands below […]
GBP/USD is under pressure and extends its downside movement due to the decision by UK voters to exit the European Union. The pair has been capped by 20-period and 50-period moving averages and remains on the downside. At the same time, both the 20-period and 50-period moving averages are heading downward. Besides, the relative strength […]
USD/JPY is under pressure as the key resistance is at 103.30. On Friday, the decision by UK voters to exit the European Union sent shockwaves across global financial markets. The British pound once dived 12.0% from the session’s high (1.5018) to 1.3224 against the US dollar, the lowest level since 1985. GBP/USD eventually ended the […]
A report by the Financial Times showed that Intel Corp is planning to sell its cyber security business. The report said the chipmaker has been in talks with its bankers about options for the Intel Security unit, which was known before as McAfee. Intel bought it in 2011 for $7.7 billion. Intel in April said […]
