Author Archive: Jeremy Parkinson
Consumer Credit: Largest Gain In 16 Years And Well Ahead Of Expectations
Economic data coming out of the United States continue to show a robust consumer-led expansion. The latest consumer credit report for November 2017 showed the largest monthly gain since November 2001, with outstanding consumer credit rising by $27.95 billion. Expectations were for $19 billion. On the back of strong economic news, interest rates have been […]
Brexit Tax Threat To Small Firms
In another unforeseen Brexit risk to UK businesses which will hit small to medium companies disproportionately hard, it has emerged that after the UK leaves the EU, VAT (Value Added Tax) will need to be paid upfront in accordance with new, UK legislation being prepared. Under the Customs Bill, which has its second reading this […]
The Outlook For Europe And Unfinished Business
Audio Length: 00:54:08 Last week’s “Behind the Markets” podcast focused on Europe. The first segment of the discussion was with Frederik Ducrozet, senior economist for Pictet Wealth Management, which was followed by a segment with Tamim Bayoumi, deputy director in the Strategy, Policy and Review Department of the International Monetary Fund and author of a […]
EURUSD: Weakens, Remains Under Pressure
EURUSD continues to decline extending its corrective pullback on Tuesday. On the upside, resistance comes in at 1.2000 level with a cut through here opening the door for more upside towards the 1.2050 level. Further up, resistance lies at the 1.2100 level where a break will expose the 1.2150 level. Conversely, support lies at the […]
3M (MMM): A Dividend King With A Wide Moat
While fast-growing momentum stocks might get the headlines, some of the best long-term investments are often far less exciting dividend growth stalwarts such as 3M (MMM). This industrial powerhouse has made countless investors amazingly wealthy over the years (12.9% total returns vs 9.1% for the S&P 500 over the last 22 years) thanks to its disciplined and […]
Dollar Correction Extended
The US dollar’s upside correction that began before the weekend has been extended in Asia and Europe today. The main exception is the Japanese yen.The yen’s modest gains have been registered despite the firmness in US rates and continued advance in equities; both factors associated with a weaker Japanese currency. It seems two other considerations are offsetting […]
Yen Pressured After BOJ Move
The Japanese Yen touched a 5-day peak versus the US Dollar after the Japanese central bank surprised markets by trimming long-dated government bond purchases. That has led to some speculation that, perhaps later this year, the Bank of Japan may finally begin to wind down its massive Quantitative Easing program. Analysts point out that “tweaking” […]
Sensex Closes At Record High; Coal India & Yes Bank Top Gainers
Indian share markets settled at new closing highs for a third straight session today. At the closing bell, the BSE Sensex finished higher by 90 points. While, the NSE Nifty finished higher by 13 points. Meanwhile, the S&P BSE Midcap Index ended down by 0.4% while S&P BSE Small Cap Index ended up by 0.1% respectively. Sectoral indices ended the day on a mixed […]
Yuan Tumbles After China Unexpectedly Suspends “Counter-Cyclical Factor” In FX Fixing
Back on May 26, 2017, shortly after Moody’s downgrade of China, Beijing “moved the goalposts” in its bid to reduce yuan volatility, to punish currency manipulators (read Yuan shorts) and limit capital outflows (the currency had weakened for three straight years, triggering draconian capital controls and the surge of bitcoin) when the May 26, 2017a new “counter-cyclical factor” to […]
EUR/USD Continues Retreating, Loses Support – A Halt May Wait For Friday
After initially clinging to the 1.20 level, EUR/USD lost that line. And after not going anywhere at first, the pair is now accelerating its falls. On its way down, euro/dollar slipped below 1.1960. That was the high point in late November, that turned into a line of support. After losing yet another line of support, can […]
