AUDUSD Daily Analysis – Wednesday, Nov. 22
AUDUSD broke above the falling trend line on the 4-hour chart and is now facing 0.7610 resistance. As long as this level holds, the rise from 0.7532 could be treated as consolidation of the downtrend from 0.7729, and another fall towards 0.7450 could be expected after the consolidation. On the upside, a breakout of this […]
EC Is The Exuberance Rational This Time Around?
Just when you thought it might be time for stocks to pull back and for traders to perhaps rethink the low-volatility, steady march higher, the major indices blasted to fresh all-time highs yesterday. Just when you thought tax reform (or a lack thereof) and/or the political problems in Germany might become actual problems, traders decided […]
Oclaro Rises As Analyst Makes Case For Potential Acquisition
Shares of Oclaro (OCLR) are on the rise after MKM Partners analyst Michael Genovese recommended investors buy the stock, citing an uptick in Chinese market commentary and noting that the company is in a “good position” to choose an acquisition partner and create an even stronger company going forward. Among potential buyers, the analyst argued […]
WTI/RBOB Slide After Smaller Than Expected Crude Draw, New Record High Production
With WTI at its highest since July 2015, vol at 8mo lows, and the front-end flipped into backwardation for the first time since Nov 2014, it appears a lot of hope is priced into continued equilibration (and OPEC). Last night’s API (crude draw) provided some more confirmation but this morning’s DOE data disappointed with a smaller […]
Billion Dollar Unicorns: Profitable Qualys Hits A New High
According to Gartner, the global cloud-based security services market is estimated to grow 21% this year to $5.9 billion and $9 billion by the year 2020. Cloud-based security and compliance solutions provider and Billion Dollar Unicorn Qualys (NASDAQ: QLYS) has a 3.1% market share in the Security and Vulnerability Management market, which is led by IBM with 13.5% share. […]
FOMC, ECB Minutes On The Docket As Euro, USD Remain Indecisive
Tomorrow brings the Thanksgiving holiday in the United States, and this will likely bring on some form of diminished liquidity across Foreign Exchange markets. And while lower liquidity can, possibly lead to bigger moves; this isn’t necessarily a ‘good thing’ as those larger moves can be considerably more erratic in nature. We’ve already started to […]
Headline Durable Goods Orders Down 1.2% In October
The Advance Report on Manufacturers’ Shipments, Inventories, and Orders released today gives us a first look at the latest durable goods numbers. Here is the Bureau’s summary on new orders: New orders for manufactured durable goods in October decreased $2.8 billion or 1.2 percent to $236.0 billion, the U.S. Census Bureau announced today. This decrease, […]
Legendary Short Seller David Einhorn Adds Micron; Slashes General Motors; Apple
Billionaire chairman of Greenlight Capital Inc., David Einhorn, is one of the most closely followed hedge fund managers. According to the latest disclosure with SEC, Einhorn made several tweaks to the fund portfolio in Q3. While Greenlight Capital snapped up the shares of Micron Technology, Inc. (MU) for Q3, it also made generous cuts to the holdings of General […]
The Incredible Shrinking Yield Curve
Flattening may fatten investors’ wallets Even though the Federal Reserve hasn’t tinkered with the Fed Funds target rate since June, interest rates have been ratcheting upward in anticipation of the next reset. Fed Funds are at the extreme left end—the short end—of the yield curve. The rate applies to overnight interbank loans of excess reserves. […]
Jobless Claims Drop Slightly More Than Expected
Because of the Thanksgiving holiday, this week’s release of Initial Jobless Claims was moved up a day, but even though the day of the report was different, the positive trend remains the same. While economists were forecasting claims to come in at a level of 240K from last week’s reading of 252K, the actual reading […]
