Euro, Yen Volatility Due With BOJ, ECB Meetings Tomorrow
Video length: 00:09:45 Amid a quiet economic docket that won’t see one ‘high’ rated event this entire week, the US Dollar’s decline continues. Absent data catalysts that could spark a turnaround, the greenback is left adrift at sea, set to go wherever the winds of other currencies blow its sails. While the calendar in general […]
Calyxt, Inc.: Regulatory Hurdles Keep Us Cautious On This (Otherwise Exciting) IPO
Calyxt Inc. (Nasdaq: CLXT) filed an S-1/A with the Securities and Exchange Commission for its planned initial public offering. The company intends to offer 6,060,606 shares at a marketed price range of $15 to $18. It has an additional 909,091 shares over-allotted for its underwriters. The underwriters for the offering include Citigroup, Jefferies, Wells Fargo Securities, BMO Capital […]
Testing The Waters
Saudi Arabia was testing the waters by sending a signal that the kingdom might cut crude exports by 1.0 million barrels to shock and awe oil out of this sideways trading range ahead of Monday’s OPEC technical meeting. While the market did respond positively to the news, there was still some skepticism that the Saudis […]
Morning Call For Wednesday, July 19
OVERNIGHT MARKETS AND NEWS Sep E-mini S&Ps (ESU17 +0.07%) this morning are up +0.03% and European stocks are up +0.17%. Stronger-than-expected Q2 earnings results from Morgan Stanley is boosting the stock nearly 3% in pre-market trading and is leading the overall market higher. Also, energy stocks are higher with Aug WTI crude oil (CLQ17 +0.19%) up +0.41% […]
WTI Crude Oil And Natural Gas Forecast – Wednesday, July 19
WTI Crude Oil The WTI Crude Oil market initially shot much higher during the day on Tuesday but found enough resistance near the $47 level to turn around and form a shooting star. I believe that a lot of traders stepped out of the market as we await the Crude Oil Inventories announcement coming out […]
Morgan Stanley Triumphs: Posts Higher FICC Revenue Than Goldman Sachs
After yesterday’s stunning 40% plunge in Goldman’s FICC revenue, market watchers and MS shareholders were nervously anticipating the release of today’s Morgan Stanley Q2 earnings data. In retrospect, they had no reason to be worried, because moments ago MS reported revenue and EPS which both beat expectations, with Q2 EPS of $0.87 (est $0.76) on revenue […]
What We Have Seen And Learned 20 Years After The Asian Financial Crisis
from the International Monetary Fund — this post authored by Mitsuhiro Furusawa Asia today is the fastest-growing region in the world, and the largest contributor to global growth. It has six members of the Group of Twenty advanced and emerging economies, and its economic and social achievements are well recognized. But 20 years ago, July 1997 […]
Is The Canadian Dollar Too Strong For The BOC?
USD/CAD collapsed on the hawkishness of the BOC and the weakness of the US dollar. Has it gone too far? Here are two opinions: Here is their view, courtesy of eFXnews: USD/CAD: Loonie Strength To Send BoC To The Sidelines; Where To Target? – CIBC CIBC FX Strategy Research argues that while CAD strength could extend towards a temporarily […]
The Stock Market Season Is Changing
Following on from the popular post on the seasonal turning point for the VIX last week, here’s an insight into seasonality for the S&P 500 and how 2017 is tracking YTD vs the historical seasonal pattern. The first chart shows 2017 superimposed on the historical average and it looks like a fairly decent fit with the implication […]
US Business Cycle Risk Report – Wednesday, July 19
The recent run of soft economic data inspires some pundits to claim that a new recession is brewing. They could be right, but they could just as easily be wrong. Although some numbers published to date have been weaker than expected, a broad profile of economic activity still reflects low recession risk. Near-term projections tell […]
