The GBP/USD pair went back and forth during the day on Friday, showing a bit of hesitation to go down to even lower levels. There is a significant amount of support below as far as we can see, especially near the 1.49 level. However, I feel that the market will eventually break down below there,…
Teekay Corporation (TK – Snapshot Report), the leading marine energy transportation company, was the worst stock performer on the New York Stock Exchange in the Thursday trading session as the stock tumbled as much as 62%. The steep decline for this crude oil shipper came after the company slashed its dividend by 90%. Teekay will now pay…
As those who frequent these pages are no doubt aware, NPLs at Chinese banks are rising. Here’s a kind of 30,000 -foot view from RBS’ Alberto Gallo: As we documented last month after data on new RMB loans showed that the credit impulse in China simply rolled over and died in October, part of the…
Controversial CEO Martin Shkreli has stepped down from his position at Turing Pharmaceuticals Friday following his arrest on securities fraud charges. Video Length: 00:05:31 According to a Turing investor involved in the talks which led to Shkreli’s resignation, via The Street, Turing is currently a “mess” and “needs to be cleaned up.” Shkreli and Turing came…
by Marco Buti and Vitor Gaspar Appeared originally at Voxeu.org 10 December 2015 Designing fiscal policy for today’s complex and uncertain economic climate is a problem that perplexes governments worldwide. This column proposes a solution – a new fiscal architecture with strengthened but budget-neutral automatic stabilisers. It won’t be easy, but overcoming predominantly political challenges will help foster steady…
Gold prices settled at $1065.96 per ounce, falling nearly 0.7% over the course of the week, as the Fed’s rate hike decision dulled demand for the precious metal. The XAU/USD pair traded as low as $1047.64 an ounce on Thursday but recovered a portion of losses on safe-haven bids prompted by a sell-off in global…
Here’s one for the “this was not supposed to happen, and nobody saw it coming” book. Bloomberg reports on the Siberian Surprise: Russian Oil Patch Just Keeps Pumping. In the fight for market share among the world’s oil producers this year, Russia wasn’t supposed to be a contender. But the world’s No. 3 producer has been…
Year 2016 promises to continue the inspection of fees charged to retirement plan sponsors and participants, in part because it is such an important topic. Also there is considerable litigation in this area that appears unlikely to abate any time soon. According to Groom Law Group, “Nearly forty lawsuits have been commenced relating to 401(k) plan…
Fundamental Forecast for EUR/USD: Neutral – The Federal Reserve’s first rate hike since June 2006 has insulated the US Dollar, for now. – The retail trading crowd remains net-short EUR/USD (via SSI) headed into the holiday week. – Have a bullish (or bearish) bias on the Euro, but don’t know which pair to use? Use a Euro currency basket. The Euro slipped marginally last…
Chinese shares led Asian markets higher on Monday while the price of Brent crude plummeted to 11-year lows on renewed worries over a global oil glut. European shares are expected to go the other way with spreadbetters forecasting a down opening on Britain’s FTSE 100 and France’s CAC40 with Germany’s DAX to start the day…
