It didn’t take long for the impact of the stronger yen, and the weak global economy, to manifest themselves on the company that is Asia largest clothing retailer. Moments ago, shares of Japan’s clothing empire Fast Retailing, whose most prominent brand is Uniqlo, plunged by 10% sending its stock price to the lowest since June…
Dollar Index trading at a well-established support level could see a short term shift in sentiment Summary: Markets will be looking ahead to inflation print next week Technically, the dollar’s decline is a bit overstretched Dollar index at a strong support level showing market indecision pointing to a possible retracement It has been a wild…
USD/CAD 30min Chart Created Using FXCM Marketscope 2.0 Technical Outlook: USD/CAD made a strong defense of the weekly open last night at 1.3020, keeping our near-term focus higher in the exchange rate while above the lower median-line parallel extending off the 2016 low. The pair is testing near-term confluence resistance here and although we’re holding short scalps off this…
Japan is angry. Rightfully so, in a perverse way. What is Japan angry about? It has not succeeded in destroying its own currency, a seemingly simple task. Japan Lashes Out My advice is coming up. First, please consider Japan Lashes Out Against Rise of Yen. The yen touched new highs on Thursday, defying Tokyo’s effort to…
The Japanese yen is undoubtedly the king of the hill this week, with seemingly unstoppable gains. Here is the view from Morgan Stanley on these moves: Here is their view, courtesy of eFXnews: Over recent weeks, the EUR moved moderately higher, while the JPY accelerated sharply, with USD/JPY now nearing our USD/JPY 105 year-end target. The negative reaction…
Video length: 00:01:34 During the day on Friday, we get a handful of announcements, but nothing important that will move the market. That being the case, the market looks as if it is more than likely going to simply follow what we’ve seen recently. Some of the running trends that have taken hold of the…
But, but, but… jobs… Financials suffered their biggest drop in 2 months… (down 3 of the last 4 days) – on target for the worst week since the first week of the year We suspect Financials have further to fall… Which weighed on overall sentiment… Leaving the S&P in the red YTD… Since the great…
Shares of home furnishings retailer Bed Bath & Beyond (BBBY) are advancing after the company’s fourth quarter results surpassed analysts’ consensus estimates. WHAT’S NEW: After the market close on Wednesday, Bed Bath & Beyond reported Q4 adjusted earnings per share of $1.85 excluding items and revenue of $3.4B, topping analysts’ consensus estimates of $1.81 and…
EURUSD: Though EURUSD continues to hesitate, it retains its broader uptrend. Support lies at the 1.1350 level where a violation will aim at the 1.1300 level. A break of here will aim at the 1.1250 level. Conversely, on the upside, resistance comes in at 1.1450 level with a cut through here opening the door for…
The Wall Street Journal reported a few days ago (h/t ZeroHedge) on the status of the ongoing disruption in domestic production of long haul trucks and vehicles. In what can only be confirmation of the state of US manufacturing, the huge drop in orders for new trucks matches shippers’ perceptions of the actual economic flow in…
