The first-quarter earnings of the biggest exchange operator in Asia, Hong Kong Exchanges & Clearing Ltd., plummeted 9 percent as trading turnover fell. The operator’s net income fell to HK$1.43 billion ($184 million) in the period, from HK$1.58 billion last year, the exchange said. Company revenue fell 2 percent to HK$2.75 billion. The material has […]
With another coupon payment coming up, 1Malaysia Development Bhd. bonds touched its lowest in over two weeks. The Malaysian state investment firm, which defaulted on 5.75% notes in April over a conflict with International Petroleum Investment Co., needs to pay off $52.4 million of interest on 5.99% bonds amounting to $1.75 billion. It will mature […]
Saudi Arabia’s Aramco is completing the details about its proposed partial privatization, which will be shown to the Supreme Council. According to Chief Executive Amin Nasser, the firm formed a panel to finalize the initial public offering of lower than 5% of its worth, including an independent local listing and a double listing with a […]
Japan’s Topix index erased its early ascension as the Japanese yen fortified after recording losses for two straight days. Against the US dollar, the yen traded at ¥108.66, up 0.6%. The Topix index closed at 1,332.42,m down 0.2%, while the Nikkei 225 Stock Average settled at 16,575.65. Machinery shares advanced but consumer finance and drugmakers […]
On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. The 0.6550 level was broken above a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. The price zone of 0.6750-0.6840 constituted a significant […]
A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450. Hence another consolidation range was established from 1.3450 down to 1.2800. On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, as the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470) which allowed further bearish decline to occur. The prominent demand level located at 1.3845 (historical bottom that goes back to […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms had been previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level of 1.0570 which had been previously […]
EUR/USD found the resistance near 1.1480 area and had a clean bounce off 261.8% Fibs applied to the first corrective wave after the 1.1060 resistance breakout. The clean rejection of this resistance level could result in a further decline to test one the support levels. The nearest support is at S1 (1.1320), although the price […]
After the descending channel breakout, EUR/CAD reached the 100% Fibs applied to the channel breakout point. This was the final upside target and daily close was below R1 (1.4785) that suggests that resistance was rejected. At the same time, the price formed a bearish divergence on the RSI oscillator adding additional confirmation to the potential […]
Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.6900. According to the 30M time frame, I found a trading range between the price of 1.6835 (support) and the price of 1.6900 (resistance). Watch for a successful breakout of the trading range to confirm further direction. The trend is […]
Since our previous analysis, gold has been moving downwards. As I expected, the price tested the level of $1,259.26 in a high volume. According to the 4H time frame, I found that strength came in near the level of $1,260.00. My take profit level, Fibonacci expansion 100% at the price of $1,260.50, has been reached. […]
Good morning!Ed asked me to do a cameo appearance in his talk at UK Investor Show, in a side room. So I dragged myself out of the Westminster Arms, and popped over at 2pm to do a short talk on my favourite shares. Nobody told me that it was being filmed, but it was. Here […]
Good morning!Ed asked me to do a cameo appearance in his talk at UK Investor Show, in a side room. So I dragged myself out of the Westminster Arms, and popped over at 2pm to do a short talk on my favourite shares. Nobody told me that it was being filmed, but it was. Here […]
Rolls-Royce will eliminate 300 management positions by June this year as CEO Warren East’s determination to cut £1 billion strengthens. The company aims to have savings ranging from £150 million to £200 million in 2017. In an annual shareholder meeting on Thursday, East said that 20 to 25 percent of its 2,000 senior management posts […]
Australia-based Macquarie Group Ltd. experienced a strong fiscal year ending March 31 as its net income reached $1.54 billion, a 29 percent rise from the same period last year. Its international income of $6.7 billion contributed 68 percent to the total. Operating income was up 9 percent to $7.3 million while operating expenses rose by […]
Five major smartphone builders are under probe for patent violation, the US International Trade Commission said in a statement. Electronics company Creative Technology Ltd. in Singapore and Creative Labs Inc. filed a complaint against smartphone manufacturers for patent breach. The phone makers under inquiry include Samsung Electronics, LG Electronics, Lenovo, Sony Corp., ZTE Corp., HTC […]
Following from a previous article, I’ll be looking a little further at the impact of some actuarial assumptions. It can be difficult to get your head around some of the ideas the actuaries talk about so a super simplified and visual example is a great way to get a better feel for it all. As such we’re […]
Overview: The NZD/USD pair continues to move downwards from the level of 0.6816. Yesterday, the pair dropped from the level of 0.6780 (this level of 0.6780 coincides with the double top) to the bottom around 0.6740. Today, the first resistance level is seen at 0.6780 followed by 0.6816, while daily support 1 is found at […]
Crude prices escalate as supply blackout in some countries including Canada and Nigeria, helped mollify the global oil glut. According to Energy Aspects, wildfires in Alberta knocked off approximately 1.6 barrels per day. Certain entities such as BP and Suncor imposed force majeure on crude in the country. In Nigeria, heightening violent acts have aggravated […]
Overview: The USD/CHF pair is showing signs of strength following a breakout of the highest level of 0.9700. On the H1 chart, the level of 0.9660 coincides with 61.8% of Fibonacci, which is expected to act as major support today. Since the trend is above the 50% Fibonacci level, the market is still in an […]
Trade deficit in Britain enlarged as the country’s overall global trade in the first quarter failed to uplift the UK economy. Official data indicated the deficit widened to £13.3 billion ($19 billion), previously £12.2 billion ($17.6 billion), its broadest since 2008. On May 26, a second projection of British economy will be released, to unveil […]
In response to the market timing backtest in “Usefulness of P/E10 as Stock Market Return Predictor”, subscribers suggested two modifications for exploiting P/E10 (Cyclically Adjusted Price-Earnings ratio, CAPE): Instead of binary signals that buy (sell) stocks when P/E10 crosses below (above) its historical average, use a scaled allocation to stocks that considers how far P/E10 is from average. Instead of holding cash More […]
Seven potential bidders for the UK assets of Tata Steel would go to the next stage of sale process, Tata Steel Europe said. The steel maker also said it was clarifying outstanding points with a number of other parties who had expressed interest in Tata Steel UK. In a statement, executive director Koushik Chatterjee said […]
The New York Times reported that the Pershing Capital Management of billionaire investor William Ackman is looking to sell Zoetis Inc. shares for $800 million. NYT reported that Ackman will sell Zoetis’ 16.85 million shares for a price range of $46.75 to $47 per share. It added that the transaction would be managed by Bank […]
Second-biggest reinsurer in the world, Munich Re, has cut its full-year profit target from a range of 2.3 billion euros to 2.8 billion euros to 2.3 billion euros as its first-quarter earnings dropped. In a statement on Tuesday, the company said from a net income of 790 million euros last year, it plummeted to 430 […]
The European Central Bank said it will conduct a comprehensive analysis of four banks that it may directly start to supervise. The four lenders are Italy’s Banca Mediolanum, the Irish unit of U.S. lender Citigroup, Slovenia’s Abanka and Latvia’s Rietumu Banka. The ECB said they would review the assets on the banks’ balance sheet and […]
Kenya’s Equity Holdings Ltd. chief executive James Mwangi said its first-quarter profit soared 20% to 5.1 billion shillings ($51 million) after loan earnings surged. Net interest income of Equity Holdings, Kenya’s biggest bank by market value, jumped 37% to 10.4 billion shillings in the three months through March, Mwangi said. Mwangi told reporters that they […]
China Shrinking at a Slower Pace Morning Report: 06.30 London • This morning, the US dollar has continued its resurgence, switching the balance of power away from the yen which is struggling this morning. The dollar’s surge is being helped by oil prices dropping below $44.00 yesterday. […]
EUR/USD: The perpetual bearish movement here – though slow and steady – has resulted in a “sell” signal in the market. The price is under the resistance line at 1.1400 and it would go further south from there, targeting the support lines at 1.1300 and 1.1250 within today or tomorrow. USD/CHF: There is a clean […]
