Early last month, Deutsche Bank replaced one CEO pledged with paring back the bank’s ailing franchise with another committed to doing the same thing only more quickly. As I wrote at the time, “Cryan isn’t being ousted because he was wrong, but because he was right.” In comes Christian Sewing whose plans are starting to come…
This morning’s release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 149.3, down 0.6 from the previous week. Year-over-year the four-week moving average of the indicator is now at 3.87%, up from 3.55% last week. The WLI Growth indicator is now at 4.5, up from the previous week. The…
After shedding nearly 400 pips over the last month, there are tentative signs that AUD/USD may be forming a bottom. Video Length: 04:32
For all the rhetoric in recent weeks, the sudden turmoil in emerging markets really boils down to one simple thing: a strong dollar; or put more specifically, the stronger the dollar and the faster its appreciation, the greater the EM turmoil. This is shown simplistically on the following chat mapping the inverse correlation between the strong dollar and the Emerging…
Optical networking equipment companies like Applied Optoelectronics (AAOI – Free Report) are no stranger to the cellar of the Zacks Rank lately as a slowdown in Chinese datacenter demand and heated competition erode their sales and earnings power. AAOI, in fact, has spent all of 2018 as a Zacks #5 Rank Strong Sell, since it was trading above $38…
Craig Hemke and I chatted yesterday on the back of the USD pullback and slightly weaker than expected inflation numbers out of the US. These are two main drivers of the PM prices where the trends especially if we can project longer term can really take hold. (Audio length 00:10:44)
Price impacts of tariffs and the dollar are not seen in import prices the past 2 months. Year-over-Year is another story. The BLS Import and Export Price Report shows more movement in export prices than import prices for the second month. All Imports: Import prices advanced 0.3 percent in April resuming the recent upward trend after declining…
The USD/CAD dropped to the lower ground, pushed by US Dollar weakness rather than C$ strength. The double-feature Friday with Canadian inflation and retail sales stands out. The technical picture is evenly balanced, and the pair is looking for new clues for its next move. A US-Canadian ugly contest, Iranian oil and still no NAFTA…
Japan reported a larger than expected March current account surplus. It typically rises in March even though the seasonal pattern is not quite as strong as it is in February. For the last 20 years, Japan’s current account surplus in February is always larger than the January surplus, which has, without fail, been smaller than…
Shares of Norton Antivirus maker, Symantec Corporation took a dip of more than 20% in the evening trading session on Thursday. The drop followed an announcement that Symantec’s audit committee was carrying out an internal probe in connection with undescribed concerns that were brought forward by an employee who previously worked for the company. The…
