Matching analysts expectations, UK’s economy slowed to 0.4 percent from last quarter’s 0.6 percent. In a year-on-year comparison, the country’s GDP was unchanged at 2.1 percent, beating a forecasted 2.0 percent. Production, and agriculture contracted by 0.4 percent and 0.1 percent, respectively, while construction fell by 0.9 percent. According to economists, the weak GDP was […]
Bank Negara Malaysia, the country’s central bank, has chosen deputy governor Muhammad Ibrahim to replace current Governor Zeti Akhtar Aziz. Ibrahim will start his tenure on May 1, Prime Minister Najib Razak said on Wednesday. Aziz will retire on April 30 after heading the central bank for 16 years. Muhammad was installed as deputy governor […]
Policymaker Benoît Coeuré reiterated the European Central Bank is not derailed by the euro’s vitality, saying the shared currency has steadied over the last month. The ECB board member said the currency’s firmness won’t affect their monetary policies unless it escalated sharply. On Wednesday, the euro closed at $1.1329. The currency, since the beginning of […]
Discussions between Greece and its global lenders touched a standstill over demands for additional contingency measures to strike a bailout agreement. Both the Greek government and the International Monetary Fund are scrambling to find out austerity packages amounting up to €3.6 billion ($4 billion) should Greece fail to hit its budget goals. Greek and European […]
Do commodity price changes predict currency exchange rate fluctuations for commodity-exporting countries? In their March 2016 paper entitled “When the Walk is Not Random: Commodity Prices and Exchange Rates”, Emanuel Kohlscheen, Fernando Avalos and Andreas Schrimpf analyze relationships between commodity prices and exporter exchange rates. They first construct daily commodity export price indexes tailored to 11 commodity-exporting countries (Australia, Brazil, Canada, […]
Aussie Inflation Shock Morning Report: 06.30 London • The Australian dollar is the big mover this morning after quarterly CPI came in negative for the first time since 2009. Australian dollar pairs have sunk by over 1.5% on the news, with the AUD/JPY reversing recent gains. […]
Good morning!Another busy day today for announcements, I’ll cover as many as I can this morning, as am busy working with a private company this afternoon, with my FD hat on.Sepura (LON:SEPU)Share price: 64.25p (down 30.9% today)No. shares: 184.4mMarket cap: £118.5mTrading update amp; financial position – in my report of 4 Apr 2016 I covered Sepura’s […]
Good morning!Another busy day today for announcements, I’ll cover as many as I can this morning, as am busy working with a private company this afternoon, with my FD hat on.Sepura (LON:SEPU)Share price: 64.25p (down 30.9% today)No. shares: 184.4mMarket cap: £118.5mTrading update amp; financial position – in my report of 4 Apr 2016 I covered Sepura’s […]
Good morning!Another busy day today for announcements, I’ll cover as many as I can this morning, as am busy working with a private company this afternoon, with my FD hat on.Sepura (LON:SEPU)Share price: 64.25p (down 30.9% today)No. shares: 184.4mMarket cap: £118.5mTrading update amp; financial position – in my report of 4 Apr 2016 I covered Sepura’s […]
This week, I’m starting to populate the Stock in Focus portfolio. To get the ball rolling I am going to add two stocks this week, one cyclical and one defensive. One of these will be a company I’ve recently reviewed, while the other is a new choice. These will be selected from my screen results […]
Five million monthly active users (MAUs) were added to Twitter’s database during the first quarter of the year amounting to 310 million MAUs, a swift recovery after it lost 2 million users in the previous quarter. But it’s not all favorites and likes for the social media giant. Although its Q1 revenue grew by 36 […]
Australia’s consumer price index in Q1 was at 1.3 percent from 1.7 percent in the same period last year. It fell by 0.2 percent after rising 0.4 percent in December, the Australian Bureau of Statistics announced on Wednesday. Core inflation stood at 1.55 percent, missing the RBA’s target range of 2 to 3 percent. Clothing […]
The Labor Ministry said on Wednesday that the number of jobseekers in the country decreased by 60,000 in just one month, bringing jobless French to 3.5 million in March. This is a 1.7 percent drop month-on-month, but it is still 0.5 percent higher than the same period last year. President Francois Hollande’s administration celebrated the […]
The recent Brussels terrorist attacks is just one of the many reasons a British citizen might consider voting to leave the EU during the June 23 referendum. A question for investors is what effect will a “yes” or “no” vote have on the forex market, and how those changes will alter the growth trajectory of […]
Chief Executive Officer George Paz of Express Scripts Holding Co, a pharmacy benefit manager, said it would keep health insurer Anthem Inc. as a customer despite contract dispute over pharmaceutical price cuts Anthem says it is owed. During a conference call with analysts to talk about the company’s first-quarter earnings, Paz said they are confident […]
Global macro overview for 27/04/2016: The US Durable Goods orders data was released yesterday. It disappointed the market participants as they had expected a 1.9% increase, but the number released was at the level of 0.8% only. ( still better than -3.1% a month ago tough). Moreover, the key category, Core Durable Goods Orders, that […]
Technical outlook and chart setups: The EUR/JPY pair is testing major resistance at 125.75/95 levels at this moment, and should be looking to reverse lower from here. Please note that it is trading around the resistance of the Fibonacci 0.618 retracement of the drop between 128.25 and 121.70 levels respectively. The wave structure also indicated […]
USD/JPY is expected to trade with the bullish bias. The pair rebounded overnight after reaching a low of 110.63. Overnight U.S. stocks traded in narrow ranges with light volumes as investors kept standing on the sidelines waiting for some rate guidance from the Federal Reserve. The Dow Jones Industrial Average added 0.1% to 17,990, the […]
Flynas of the Saudi Arabia is in talks with Airbus and Boeing Co for a possible 100-jet order, Paul Byrne, Flynas’ chief executive said. He added that the airline had ruled out Bombardier from its considerations. Saudi’s low-cost airline asked for proposals from the two companies to acquire 60 planes with an option for 40 […]
Technical outlook and chart setups: The GBP/CHF pair is quickly approaching the major resistance around 1.4280/90 levels as depicted on the chart view here. Bulls are likely to remain poised to take out resistance before producing a meaningful retracement lower. Please note that the pair has broken above its resistance trend line as well, hence […]
Global macro overview for 27/04/2016: The Australian inflation data was released overnight and it completely surprised the investors. The Consumer Price Index dropped to -0.2%q/q (1.3% y/y) from 0.4% q/q (1.7% y/y), which is worse than the expected number of 0.3% q/q (1.7% y/y). This is the biggest decline since 2009. The most important factors […]
USD/CHF is expected to trade with bearish bias as the key resistance is at 0.9765. The pair remains under pressure below its horizontal resistance at 0.9765, and it is also capped by its falling 50-period moving average. The technical indicator such as the relative strength index is mixed to bearish, calling for caution. Even though […]
Technical outlook and chart setups: Gold is seen to be trading at $1,245.00/46.00 levels at this moment, looking to complete a flat wave structure, before reversing lower again towards $1,223.00 and $1,207.00 levels respectively. Please also note that the fibonacci 0.618 level is seen at $1,253.80 levels, and that the metal could reverse lower from […]
NZD/USD is expected to trade in higher range as this movement is supported by a positive trend line. The pair stays above its key support at 0.6850, and is also supported by a rising trend line. At the same time, the relative strength index remains above its neutrality area at 50, and calls for a […]
Technical outlook and chart setups: Silver is seen to be trading at $17.30 levels for now after printing highs at $17.43 levels today. The metal is poised to drop lower below $16.80 levels from here and to a base at $15.80 or lower, before resuming uptrend. Please note that the metal unfolded a flat wave […]
GBP/JPY is expected to continue its upside movement. The pair remains bullish above its nearest support at 161.20, and is expected to post a new rebound. The 20-period and 50-period moving averages are turning up, and also play strong support roles. Besides, the relative strength index is mixed to bullish above its neutrality area at […]
General overview for 27/04/2016: The market might terminate the wave 2 correction sooner than expected and enter the bullish zone in an impulsive manner. Wave 1 purple with the top at the level of 125.95 looks impulsive and might be the first wave of the upcoming wave 3 purple. In that case, a strong, impulsive […]
The weak Durable Goods orders announced yesterday put some pressure on the Dollar index which initially broke below short-term support but as I said in a previous analysis, at the current levels the Dollar is oversold, and the downside is limited. Black lines – sideways channel The Dollar index is just above the Ichimoku cloud […]
Gold is still trading inside the triangle pattern and it seems that it is going to test the upper boundary once again very soon. I continue to remain neutral or slightly bearish as long as we are below the resistance of $1,260-70. A break above that area will open the way for new highs towards […]
General overview for 27/04/2016: The count has been a little modified to incorporate the latest developments and it looks like the market is trying to complete a triple zig-zag pattern in the big wave Z brown. Currently, there is one more wave to the downside missing to complete this scenario, but first the wave (b) […]
