Industrial production beat the consensus (ignoring revisions), but manufacturing was weak once again. The Fed’s Industrial Production and Capacity Utilization report shows production rose 0.5 percent in March. Details Industrial Production rose 0.5 percent in March after increasing 1.0 percent in February. Production advanced 4.5 percent at an annual rate for the first quarter as a whole….
The New Zealand Dollar reversed sharply off the yearly high-day close at 7390 on Friday. The pullback is now testing initial areas of support, which if broken, could clear the way for a larger correction in price. For now, here are the levels to consider. NZD/USD DAILY PRICE CHART Technical Outlook: In this week’s Technical Perspective, we highlighted that…
In 1979, Chinese Premier Deng Xiaoping designated four areas as Special Economic Zones (SEZ). Three were located in Guangdong Province, the southeastern region that wraps around the city of Hong Kong. One of those, situated just on the other side of the water from the then-British controlled jurisdiction, Shenzhen would be transformed from a sleepy…
Johnson & Johnson (JNJ – Free Report) kicked off 2018 pharma earnings on a strong note, beating the Zacks Consensus Estimate on both counts in the first quarter of 2018. The drug and consumer products giant upped its previously issued sales outlook for 2018. Shares were up around 1% in pre-market trading. This year so far, J&J’s shares…
Blowout earnings were not enough to keep Goldman Sachs green as while everything looked ‘awesome’ before the bell, when Goldman’s CFO Martin Chavez told investors on the call that there will be no share repurchases in Q2, he spoiled the party… *GOLDMAN CFO SAYS NO SHARE REPURCHASES SEEN FOR SECOND QUARTER Investors seemed not to like that…
The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for March new residential housing starts. The latest reading of 1.319M was above the Investing.com forecast of 1.290M and an increase from the previous month’s revised 1.295M. Seasonally adjusted figures were revised going back to January 2012. Here is the…
Sales and profits growth for key Asian gold jewelers continues to set the stage for an imminent and massive mining stocks rally. Double-click to enlarge this fabulous Chow Tai Fook chart. A major breakout to the upside is in play, and where Chinese jewelers go on the price grid, Western miners are likely to follow. Some…
A fascinating chart, particularly when you see how swiftly bitcoin moved.
Meeting Minutes Bring Surprise With the RBA having kept rates unchanged for 18 consecutive policy meetings, marking the longest stretch that rates have remained static in the bank’s history, the release of the latest RBA meeting minutes were not expected to deliver any new information. However, the April RBA minutes show board in favor of Rate…
Housing starts rose 1.9 percent in March led by multi-family. Single-family starts dipped 3.7 percent. The Census Bureau’s New Residential Construction report shows a rebound of new housing activity in March. Building Permits: Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,354,000. This is 2.5 percent above the revised…
