Talking Points: Weak UK Services PMI pinned on bad weather. Next week’s data calendar is thin. Sterling crosses to be steered by other currencies with USD to the fore. Fundamental Forecast for GBP: Neutral We have changed our outlook for GBP to neutral from bullish on a lack of any positive hard data this week while a fairly light economic calendar next week will…
Concord Medical Services (NYSE: CCM) announced that CICC Capital led an investment of between $238 million and $286 million in Concord’s subsidiary Beijing Meizhong Jiahe Hospital Management (see story). The investors will hold 37.5% to 41.9% of Meizhong Jiahe’s equity after the investment. Concord Medical Services Holdings Limited provides radiotherapy and diagnostic imaging services within public hospitals or in standalone…
“The baby boomers are retiring from relatively high-wage jobs while young people, who start at relatively low wages, are still pouring in to the labor market. This slows the growth of wage rates at a given unemployment rate, leading to lower unemployment at a given rate of wage growth.” (The CBO, January 13, 2017 Projections)…
Below is a brief recap of last week’s price projections and the price targets for next week. Only the Euro and the GBP couldn’t meet any of their targets. The SPX found support twice at the projected monthly channel level of 2560, and finds itself in the middle of the March – April trading range. …
Latest Price – 89.78 Daily Chart Pattern – price looks to be in a consolidating the downtrend. Once this consolidation is over, which I believe is imminent, the downtrend should resume and see price crack to new lows. Bollinger Bands – these bands clearly show the sideways action in play currently. Price looks like it…
U.S. crude oil production is at a record high but supplies of oil keep falling. Have you stopped to wonder why? Well, there are many reasons, such as record demand, but a larger issue has to do with shale oil. Yesterday’s oil prices initially rallied on a report that Saudi Arabia was raising crude prices for…
USDCHF: With the pair closing further higher the past week, more strength is envisaged. On the downside, support lies at the 0.9550 level. A turn below here will open the door for more weakness towards the 0.9500 level and then the 0.9450 level. On the upside, resistance resides at the 0.9650 level where a break…
From Bloomberg: In light of China’s unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs. I’ve borrowed a graph from Alec Phillips and Andrew Tilton, and added the $100 billion…
Following Monday’s 2.75% rout of the technology-laden Nasdaq index, the lead story in the Washington Post print edition was entitled “Tech stocks take a beating.” The sub-headline which caught our attention read as follows: “Trade, regulatory threats hurt sector, experts say.” The article puts the blame for Monday’s loss, as well as the 10% retreat…
