(co-authored with my colleague Sam Waters) Inflation or indeed its opposite has driven monetary policy among the largest high income economies. With nominal rates thought to be bounded by zero, the US, UK, and Japan engaged in operations to increase the size of the central bank’s balance sheets as an unorthodox channel of easing monetary conditions. European central banks…
(Photo Credit: Rodrigo Lübbert) It’s a light week with the holiday season approaching, but these four S&P 500 names are still reporting their latest quarterly results! Paychex Inc. (PAYX) Information Technology – IT Services | Reports December 22, before the open Similar to last quarter, we head into Paychex’s report with both Estimize and Wall Street…
Talking Points: – USD/JPY key reversal on Friday looms ominously. – AUD/JPY, NZD/JPY offer solid setups as well. – See the December forex seasonality report. The Japanese Yen is heading into the new year on stronger footing than most realize. From four vantage points the tide seems to be turning for the lowly funding currency: – Politically, Japanese policymakers probably don’t want a…
Joy Global JOY reported quarterly earnings on Wednesday. The company delivered revenue of $865 million and adjusted eps of $0.43, beating analysts’ expectations. JOY hit a 52-week low of $10.42 after earnings and closed on Friday at $12.13. In total Joy Global reported a net loss of $1.3 billion, driven by impairment charges on goodwill…
Two weeks ago, well before the most recent Apple “sell-thru” scare hit AAPL stock and pushed it into bear market territory, or down 20%, from its recent highs, we warned that the company faces a risk of inventory correction as a result of at least three channel checks (and soon thereafter, more) confirming deteriorating iPhone sales, indicative…
The Federal Reserve raised the key overnight Fed Funds rate by 0.25%. The move was discussed, debated, argued, and telegraphed to death. We all heard about it until we hoped anything else financial would happen so we could finally put the tired story to rest. Now that the rate hike is on the books, we…
The U.S. Fed rate hike got the attention of the whole planet basically. Rarely do we see so much focus on one specific news item. Our loyal readers know that our main mantra in 2015 has been the overly hyped rate hike. The Fed Chairmen Bernanke and Yellen have been ‘yelling’ since 2010 that they…
The EUR/USD pair initially fell during the course of the session on Friday, but found quite a bit of support at the 1.08 level to turn things back around and form a bit of a hammer. That hammer of course is a positive sign, and as a result that should send this market looking for…
GBPUSD: Having remained weak and vulnerable to the downside, GBP/USD continues to retain its bearish bias. Despite its present price hesitation, we look for the pair to extend its past week losses in the new week. Support lies at the 1.4800 level where a break will turn attention to the 1.4750 level. Further down, support lies…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH16 +0.85%) are up +0.87% and European stocks are up +0.31% as technology stocks rose with Apple up over 1% in pre-market trading and Ericsson AG up 7% after Apple settled a patent dispute with Ericsson AB and agreed to a 7-year licensing agreement with the company. Also,…
