EUR/GBP: With the cross turning lower off its key resistance at 0.7421 level to close lower on Wednesday, further weakness is now seen. As long as the 0.7421/36 zone remains unbroken, you should see the pair weakening in the days ahead. On the upside, resistance lies at the 0.7400 level where a violation if seen…
McCormick & Co. (MKC – Analyst Report) is a global leader in spices, seasonings, specialty foods and flavors. The company has a strong brand portfolio and owns more than 250 brands that are sold in the U.S. and in international markets. McCormick’s robust top-line growth, regular product innovation, cost savings, and aggressive buybacks have been driving earnings for…
There are a number of great companies in the market today. I’ve selected the highest dividend yields among the undervalued companies for defensive dividend stock investors reviewed by ModernGraham. Each company has been determined to be suitable for the Defensive Investor according to the ModernGraham approach. Defensive Investors are defined as investors who are not able…
Everything is proceeding as I have foreseen. We drew the S&P bounce chart for you yesterday and we said we expected a run to our strong bounce line at 1,910 from 1,877,75 at the time. The long play paid off at $50 per point, per contract for a lovely $1,612.50 per contract gain (you’re welcome) and this…
Weekly Initial Unemployment Claims The market was expecting the weekly initial unemployment claims at 270 K to 278 K (consensus 272,000) vs the 277,000 reported. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 271,750 (reported last week as…
At the end of every quarter, the IMF reports official reserve holdings. It is the most comprehensive and authoritative source of such information. This is especially true of the currency composition of the reserves, which some countries publish freely and others regard as a national secret. The IMF reports the figures with a quarter lag. Data as…
Income investors were no doubt relieved by the Fed’s recent decision not to raise interest rates. Indeed, the continuation of cheap money policy was good news for the stock market, even if it suggests the Fed is worried about global growth. However, income investors still need to worry about the next recession, as my colleague Alan…
from Challenger Gray and Christmas The third quarter ended with a surge in job cuts, as U.S.- based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month. The September total was third largest of the year behind July (105,696) and April (61,582). It was 93 percent higher than…
And it was going so well overnight: with the USD/JPY surging as high as 120.25 overnight, before finding its prefered equilibrium spot at 120, the Yen carry was doing its centrally-planned and mandated job of supporting market… and then a Bloomberg headline yanked the carpet from underneath it: BOJ IS SAID TO SEE LITTLE IMMEDIATE…
