The Reserve Bank of New Zealand is credited with being the first central bank to adopt a formal inflation target. Following last year’s election, the central bank’s mandate has been modified to include full employment. To be sure this was a political decision, and one that initially saw the New Zealand dollar retreat. The dual mandate…
USD/JPY: The pair extended its recovery on Tuesday opening the door for more strength to occur. On the downside, support lies at the 105.00 level where a break if seen will aim at the 104.50 level. A cut through here will turn focus to the 104.00 level and possibly lower towards the 103.50 level. On…
Oil prices dipped, as trade war fears went away on a private report that might indicate that crude oil supplies may see a big increase this week. Genscape, the widely followed energy market data, and intelligence company reported that oil supply in Cushing Oklahoma was up 2.18 million barrels last week. The increase and the…
Bank of America Merrill Lynch analyst Justin Post cut his price target for shares of Facebook (FB) to $210 from $230 citing increased regulatory risk. The analyst, however, reiterates a Buy rating on the shares with his target representing substantial upside from current levels. Facebook closed yesterday up 67c to $160.06. The Federal Trade Commission…
Above looks at Bitcoin on a monthly and weekly basis. In the left chart, Bitcoin Monthly has spent the majority of the past 5-years inside of rising channel (1). It hit the top of the channel late last year, where it created a large bearish reversal pattern (bearish wick) and prices started immediately heading lower. Over the…
There are a number of great companies in the market today. By using the ModernGraham Valuation Model, I’ve selected the ten lowest PEmg (price / normalized earnings) companies reviewed by ModernGraham. Each company has been determined to be undervalued or fairly valued and suitable for the Defensive Investor according to the ModernGraham approach. Defensive Investors are defined as…
Do you hear the military march? The world’s largest economies are flexing their muscles and preparing for war. Will gold win the trade conflict between the United States and China? So It Begins Trade war. This topic dominated the recent days. Last week, President Trump announced plans for tariffs on about $60 billion of Chinese…
I love trolls. One of my favorite things to do is read the comments from readers. Most of the comments are generally insightful, well-intentioned, contribute to the community and inspire thought particularly when they disagree with my own views. Then, there are the “trolls.” “Trolls” are anonymous posters who have nothing better to do with their lives…
We are approaching the end of the first quarter of 2018. Let us assess how the quarter unfolded for the drug/biotech sector. The year began on a strong note for the drug/biotech sector, particularly on expectations of an increase in M&A activity. Sanofi (SNY – Free Report) and Celgene (CELG – Free Report) have already announced two deals each….
The US Dollar (via the DXY Index) is back where it opened the week up on Sunday in New York, having been whipped around by cross-asset flows and general sense of relief transpiring on the newswire. US policy officials have suggested that they’re working with their Chinese counterparts behind the scenes to resolve the trade…
