Author Archive: Jeremy Parkinson
How Close Are We To “Full Employment”?
As I pointed out Friday, there was a lot of good news underneath the headline jobs gain — primarily in labor force participation and underemployment. So, how close are we to “full employment,” based on the last few expansions? Let’s start with the simple, straightforward unemployment rate of 3.9%. This is already considerably below the […]
Gold Bulls Would Love To See A Rally Here
The chart looks at the price patterns of the Aussie Dollar over the past 20-years. The trend on the AU$ is up over the past couple of decades and it is down since peaking back in 2011. The decline of late has the AU$ testing 17-year rising support and the apex of a potential bullish falling wedge […]
E Markets: Idiosyncratic
A spate of earthquakes around the South China Sea from Indonesia, Taiwan and Philippines puts us on Tsunami alert but nothing happens and its all explained away as aftershocks from this weekend’s tragedy. For markets we see similar warnings, the quakes in TRY, NZD and RUB all look important but are explained away today as idiosyncratic. Those […]
Weekly Unemployment Claims: Down 6K
Here is the opening statement from the Department of Labor: In the week ending August 4, the advance figure for seasonally adjusted initial claims was 213,000, a decrease of 6,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 218,000 to 219,000. The 4-week moving average was 214,250, […]
US Producer Price Surge Slowed In July
After accelerating on and off for the last few months, Core Producer Prices and Final Demand both came in lower than expected in July as a drop in margins for fuels offset a rise in guestroom rentals and drug prices. PPI Final Demand printed +3.3% YoY (against 3.4% prior and expectations) In July, a 0.1-percent rise in […]
E Forex Analysis Of EUR/USD For Thursday, August 9
First, we look into the previous day trade and what happened on August 8, 2018, and the EUR/USD pair opened at 1.15973 and went high at 1.16274 and gone to low at 1.15722 and finally closed at 1.16089. The calculated pivot point for the day is 1.16028. The difference between high and low was 55 […]
Morning Call For Thursday, August 9
Overnight Markets And News Sep E-mini S&Ps (ESU18 +0.06%) this morning are up +0.05% and European stocks are down -0.36% in mixed trade. Strength in mining stocks and commodity producers are giving a lift to the overall market with Sep COMEX copper (HGU18 +1.84%) up +2.04% to a 1-week high. Fund buying pushed copper prices higher on […]
Oil: Days Like This
Even in long-term bull markets, you are going to have a day like yesterday. Oil and products crashed down to major support as it was hit with a confluence of headlines and bearish weekly Energy Information Administration (EIA) data. Fears of the impact of sanctions on China, Iran, Russia and Turkey did not help and […]
Bull Of The Day: Micron (MU) – Thursday, August 9
Micron (MU – Free Report) has been a Zacks #1 Rank since late May after the company’s Analyst & Investor Event when CEO Sanjay Mehrotra raised guidance for Q3 and unveiled their powerful growth plans in multiple markets, including datacenters, mobile, cars, and the IoT. The maker of dynamic random access memory (DRAM), NAND flash memory, CMOS image […]
Sensex, Nifty Close At Record Highs; Banking And Metal Stocks Witness Buying
Indian share markets continued their momentum during closing hours of trade and ended the day at their fresh record high levels. Gains were largely seen in the realty sector, metal sector and banking sector. Both, the Sensex and Nifty, ended their day at record closing highs. At the closing bell, the BSE Sensex stood higher by 137 points (up 0.4%) and the NSE […]
