USD/CAD: What’s The Post-BoC Trade? – Nomura
The Bank of Canada raised rates and also pushed forecasts and expectations higher. USD/CAD tanked. Can the C$ continue higher? Here is their view, courtesy of eFXnews: Nomura Research continues to look for another BoC rate hike by December after the central bank raised the target for the overnight rate by 25bp to 0.75% at its July […]
Delta Air Lines, Inc. 2Q 2017 Earnings: Shares Fall After EPS Miss
Delta Air Lines (DAL) 2Q 2017 earnings report was released before the opening bell this morning. The company posted adjusted earnings of $1.64 per share on $10.8 billion in revenue, compared to the Wall Street consensus estimates of $1.66 per share and $10.8 billion. Delta Air Lines 2Q 2017 earnings report Delta reported GAAP earnings […]
Fed’s Beige Book Warns Of Declining Auto Sales, Sees Rising Benefit Costs Limiting Wages
While the Fed’s traditionally drab Beige Book is routinely ignored by the market, especially on blockbuster days like when Janet Yellen turns dovish again and then speaks for nearly 4 hours in the Senate, this time there were several notable highlights in the just released July edition, not least of all the apparent downgrade of the […]
Chart Of The Day – Channel Breakout
When the price breaks out of the bull market channel, it’s time for the crazy nutty phase of the bubble to begin. During this phase, the price can rally 100% or more in a year or less as the public begins to pile into the market. The PPT is going to “protect” the market right […]
Euro/Dollar Has Returned To The 1.1380 Support
The US dollar’s day started with a drop. During trading in Asia, the US dollar index (DXY) fell to 95.46. During trading in Europe, it recovered all its losses, restoring to 95.88. On the back of a strengthening dollar, the euro/dollar rate has fallen from 1.1456 to 1.1372 (-84 pips). Sellers didn’t manage to break […]
Dollar Drops And Stocks Surge As Yellen Echoes The ’Fed Put’
The first day of the Federal Reserve’s Humphrey-Hawkins testimony appears to have been well-received, at least by equity markets. During yesterday’s testimony, Chair Yellen reiterated that the bank is continuing to look to tighten policy while also preparing to start reducing the balance sheet by the end of this year. What might not have been […]
Intro Guide To The Fidelity Select Medical Equipment & Systems Fund (FSMEX)
Fidelity Select Medical Equipment & Systems (FSMEX – Free Report) a Zacks Rank #1 (Strong Buy) invests at least 80% of assets in common stocks of companies principally engaged in research, development, manufacture, distribution, supply, or sale of medical equipment and devices and related technologies. The fund offers dividends and capital gains twice a year in April […]
July 2017 Initial Unemployment Claims Rolling Average Again Marginally Worsens
The market expectations for weekly initial unemployment claims (from Bloomberg / Econoday) were 242 K to 250 K (consensus 245,000), and the Department of Labor reported 247,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 243,500 […]
An Anecdote On The German Housing Bubble
I don’t know if there is a German housing bubble or even whether there will be one. I do know that we hear a lot about it in the press – the result of zero, even negative, interest rates. So let me give you a little anecdote from my trip to Germany last week. I […]
Gold’s Shift
I was initially going to try to write something about equities (specifically, the ES), but Good Lord, what on earth is there to say except… endless abortions. What I mean by that is that every time it seems we’re set up to fall (see green tint), voila, we abort the breakdown and Yellen saves the […]
