Author Archive: Jeremy Parkinson
Canadian Jobs Jump By 79.5K, GDP +0.2% M/M – USD/CAD Falls To Support
A far better than expected jobs report in Canada: no less than 79.5K jobs were gained in November. The unemployment rate falls below 6% to 5.9%. All this, with the participation rate remaining high at 65.7%. The GDP report was upbeat as well: month over month, the economy grew by 0.2% and for Q3, the […]
Morning Call For Friday, Dec. 1
OVERNIGHT MARKETS AND NEWS Dec E-mini S&Ps (ESZ17 -0.42%) this morning are down -0.45% after the U.S. Senate suspended voting on the tax bill until today after a compromise to win a majority collapsed. Also, the U.S. faces a partial government shutdown next Friday if Congress can’t agree on a spending bill by then. European […]
Amazon Price Target Raised To $1,525 From $1,430 At Wells Fargo
Wells Fargo analyst Ken Sena raised his price target for Amazon.com (AMZN) to $1,525 to reflect increased outer-year estimates for Web Services as well as a higher sum-of-the-parts valuation. The stock closed yesterday up $15.48 to $1,176.75. The analyst highlights the “very successful” five-day Amazon Wed Services conference in Las Vegas, “record-breaking” early holiday sales […]
Pfizer/Merck KGaA Drug Fails In Study, Teva CEO Announces Changes
While reports about tech giant Amazon meeting generic drugmakers made the rounds, companies like Pfizer (PFE – Free Report) and Teva Pharmaceutical Industries Ltd.’s (TEVA – Free Report) were in the news with the former reporting late-stage data and the latter announcing leadership and organizational changes. Recap of the Week’s Most Important Stories Is Amazon in Talks with Generic […]
How Will Gold End 2017?
The 2017 is almost gone. The last eleven months were not perhaps a spectacular time for gold, but it managed to rise more than 12 percent year-to-date, as one can see in the chart below. Chart 1: Gold prices year-to-date (London P.M. Fix). November was rather dull for the gold market – the price of the yellow […]
Weak Finish To The Week; Realty & Metal Stocks Fall The Most
Indian share markets witnessed intense selling pressure in the afternoon session and finished deep in red as economic data failed to boost market sentiments amid weak European markets. At the closing bell, the BSE Sensex closed lower by 316 points and the NSE Nifty finished lower by 105 points. The S&P BSE Mid Cap finished down by 1% while S&P BSE Small Cap finished […]
Crude Oil: All Fracked Up
Oil prices are responding positively to an extension of the current OPEC/Non-OPEC production deal, especially because Nigeria and Libya agreed to cut production, but a monthly report by the Energy Information Administration (EIA) on U.S. production rising over 3% to 9.48 million barrels a day seemed to put a bit of a wet blanket on […]
USD/JPY And AUD/USD Forecast – Friday, Dec. 1
USD/JPY The US dollar rallied significantly during the trading session on Thursday, breaking above the vital 112 level. By doing so, it looks as if we are ready to continue rallying, and if there is a tax deal coming out of the U.S. Congress, it’s likely that we will go looking towards the 114.50 level […]
E The Velocity Of Money Has Been Declining In The U.S., But Don’t Worry About It
“Basically, the decline in the velocity of money is due to math rather than economic dysfunction, and it’s not necessarily a signal of economic trouble.” (The Independent Market Observer, Feb 9, 2017) The velocity of money, which is the ratio of GDP to the stock of money, is often regarded as an important indicator of […]
USDCHF: Backs Off Higher Prices, Weakens
USDCHF pair backed off higher prices on Thursday leaving risk to the downside. On the downside, support lies at the 0.9800 level. A turn below here will open the door for more weakness towards the 0.9750 level and then the 0.9700 level. On the upside, resistance resides at the 0.9850 level where a break will […]
