Category Archive: Finance
China Ends Swap Lines With South Korea: A Dog That Doesn’t Bark
China has declined to renew the $56 billion currency swap line with South Korea. The swap line has been in place for eight years. Initially, it was launched at $26 billion in 2009 and expanded in 2011. It has been extended twice since then. The swap line from China was South Korea’s largest swap line, accounting […]
BlackRock (BLK) Q3 Earnings & Revenues Beat, Expenses Rise
BlackRock, Inc. (BLK – Free Report) reported third-quarter 2017 adjusted earnings of $5.92 per share, which outpaced the Zacks Consensus Estimate of $5.59. Also, the bottom line came in 15% higher than the year-ago quarter. Results benefited from improvement in revenues, rise in assets under management (AUM) and steady long-term inflows. However, increase in operating expenses acted as […]
EUR/USD Continues Higher As Rajoy Speaks Again, JOLTS Miss
Everything is going in favor of EUR/USD as the situation in Spain seems to have calmed down and a US figure misses expectations. The pair has already reached a high 1.1857, extending the gains that were driven by Puigdemont’s speech yesterday. Resistance awaits at 1.1860 and 1.1940. Support is at 1.18 and 1.1760. In Spain, PM […]
Chico’s And The Man
One of my oft-mentioned retail shorts is getting zapped this morning, with Chico’s – – purveyor of fashion to women of a certain age – – off about nine percent. I think it’s got LOTS more to go.
USD/CHF Pressures Further Downside On Correction Weakness.
With the USD/CHF pair selling off on Tuesday and seen following through lower on Wednesday, more weakness is envisaged in the days ahead. On the downside, support lies at the 0.9700 level. A turn below here will open the door for more weakness towards the 0.9650 level and then the 0.9600 level. On the upside, […]
Apple Target Raised To $199 On Higher U.S. IPhone Estimates At Morgan Stanley
Morgan Stanley analyst Katy Huberty said the firm’s smartphone survey conducted after Apple’s September product launch showed that iPhone retention and “switcher” rates, or the percentage of non-iPhone users expected to move to an iPhone, have increased from the firm’s last check in April. Given the new survey data, the firm’s estimate of North American […]
Fundamental Factors Weighing On NZD
The New Zealand Dollar continues to trade on a weak footing and has now moved to its lowest level since May as a combination of factors continue to exert downward pressure. The domestic economy is still experiencing patchy momentum as late-cycle challenges are appearing; indicators are showing a declining contribution from residential investment as well […]
Job Openings & Labor Turnover: Clues To The Business Cycle – Oct. 11
The latest JOLTS report (Job Openings and Labor Turnover Summary), with data through August, is now available. The first chart below shows four of the headline components of the overall series, which the BLS began tracking in December 2000. The time frame is quite limited compared to the main BLS data series in the monthly employment report, […]
China Riding The Global Economic Recovery
The global economic recovery is strengthening and becoming more synchronized, according to updated projections for 2017 and 2018 by both the Organization for Economic Cooperation and Development (OECD) and the International Monetary Fund (IMF). China, the world’s second largest economy, is an important part of this improved outlook, and its equity markets have been outperforming. […]
The Next Bear Won’t Look Like The Last One
Don’t look now fans, but the United States is enjoying one of the longest economic expansions in history. In fact, First Trust tells us that if the economy can avoid slipping into recession for the next 18 months, this will become the longest period of economic growth on record. Granted, the pace has been maddening […]
