Update: in case it was not clear this non-deal is a non-event, here it is again: IRAN’S OIL MINISTER SAYS TEHRAN WILL NOT GIVE UP ITS MARKET SHARE – SHANA We hope that clears up any confusion about where oil is going next, and also about whether OPEC is still a production cartel. * *…
Investors all over the world are distracted by Chinese economic growth – or a perceived lack of it. We recently learned that China finished 2015 with GDP growth of 6.9%, compared with 7.3% in 2014. That’s a drop of less than half of 1%, but the negative headlines have done their damage. But those same scary headlines…
The Japanese Yen and the common currency Euro both made headway against the US Dollar after demand for higher risk assets dissipated. The US Dollar had earlier recovered ground, gaining nearly 3% versus the Yen, after last week’s Oil price slide and a global equities rout contributed to a rise in safe haven currencies. But…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH16 +1.41%) are up +1.20% at a 1-week high, led by a rally in energy producers, with ConocoPhilips and Marathon Oil up at least 2% in pre-market trading as crude oil gains +0.95%. A rally in bank stocks is also pushing stock index futures higher with Bank of…
The Canadian dollar enjoys the recent market recovery and the bounce back in oil prices. Can this last? The team at CIBC explains the potential dynamic: Here is their view, courtesy of eFXnews: Looking beneath the impact of lower energy prices, there’s evidence that the weaker C$ is finally starting to improve Canada’s trade position….
The FTSE 100 (FXCM: UK100) is slightly higher today (+0.60%), but traders are hesitant to lift it even higher as the risk/reward ratio for fresh long positions at current levels is not good following yesterday’s strong gains. Instead, a pullback to the 5734-5689 range is needed to make the potential reward beneficial given the risk. If the FTSE indeed bounces…
Thanksgiving Day in 2014 will remain in the history books for one key event: that is the day when OPEC effective collapsed, after Saudi Arabia refused to comply with demands by other OPEC members to cut oil production, unleashing the biggest ever drop in the price of oil, ultimately surpassing even that seen after the…
USD/JPY The USD/JPY pair rose during the day on Monday, testing the 114.50 level. Ultimately, this is a market that should continue to find sellers, as the 115 level should end up being resistive. In fact, I believe there is quite a bit of resistance all the way to the 117 handle, and as a…
The best large cap sector is consumer goods. The top large cap industry is cigarettes. The average score across large cap is 53.26 and that’s above the four week moving average score of 53.08. The average large cap stock is trading -28.47% below its 52 week high, -10.98% below its 200 dma, has 3.8 days…
This year has been rather mediocre for the telecom industry with lukewarm results coming up amid turbulent economic conditions. The industry has emerged as an intensely contested space where success depends largely on technical superiority, quality of services and scalability. Cut-throat pricing competition has put pressure on margins this earnings season. However, mixed results and…
