Currency Headwinds Facing Multi-national Companies
Currency Headwinds Facing Multi-national Companies $MON The sharp rise of the USD in Q-1 has set up a scenario in which some multi-national companies could miss already low earnings estimates and see a sell-offs of their shares. Many companies have issued forecasts mentioning “currency headwinds,” but most Wall Street analysts are not updating their estimates […]
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XE Market Analysis: North America – Apr 02, 2015
EUR-USD has rallied above 1.0800 to a peak of 1.0844, pressing against Tuesday’s high at 1.0845 before settling around 1.0825-30. Stops were a factor as the market positions for tomorrow’s U.S. jobs report, especially with European markets being close…
US Fed Stimulus Set Stock Market Up For Significant Correction
US Fed Stimulus Set Stock Market Up For Significant Correction The huge monetary stimulus programs aka QE adopted by world’s central banks have pumped valuations of stocks and real estate, creating the risk of a major correction, The central banks have pushed interest rates toward Zero, and when you cut the cost of carrying any […]
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XE Market Analysis: Europe – Apr 02, 2015
EUR-USD held in the mid-to-upper 1.07s during pre-Europe trade in Asia. Intensifying Grexit concerns aside, which is a wildcard for the euro, we favour the upside over the nearer term as weaker than expected ISM, ADP, and construction data out of the …
XE Market Analysis: Asia – Apr 01, 2015
The dollar tilted lower in N.Y. on Wednesday, as data misses weighed on the dollar, yields, and Wall Street. The ADP employment survey was light of expectations, as was the March manufacturing ISM, and construction spending. EUR-USD opened near 1.0840,…
The long leading indicators: 1st quarter 2015 update
Back in January I forecast growth throughout 2015 subject to the caveat that I needed to see 4th Quarter GDP (for private residential spending and corporate profits) before extending that forecast definitively through the 4th quarter of this year.
Now that the first quarter of 2015 has passed, let’s update that forecast. To begin with, we can simply rely on the Conference Board’s Index of Leading Indicators, which are more weighted towards the short term, for the next 6 months. Here they are:
XE Market Analysis: North America – Apr 01, 2015
The dollar popped higher before settling ahead of tomorrow’s release of the March payrolls report. EUR-USD dove to 1.0718, just over 50 pips down on the intraday high before finding a toehold above yesterday’s low at 1.0712. USD-JPY, meanwhile, steame…
XE Market Analysis: Europe – Apr 01, 2015
EUR-USD lifted to the upper 1.07s in pre-European trade in Asia, despite Fed hawk Lacker saying that there is a strong case for June hike, although there is no pre-set timetable, and from Fed’s George, also a hawk, who said that it’s time for the Fed t…
S&P 500 Futures Fall, Example Of How A Correction Starts
S&P 500 Futures Fall, Example Of How A Correction Starts $SPY, $AA, $DIA Tuesday, US major market stock index futures brake due South on high volume; participants scratching their heads. The Big Q: What triggered the selling? E-mini futures on the Standard & Poor’s 500 Index expiring in June dove as much as 1.3%, before […]
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XE Market Analysis: Asia – Mar 31, 2015
The dollar was mixed overall in light FX trade in N.Y. on Tuesday. Month and quarter end positioning had largely run its course, leaving the market rather listless. EUR-USD peaked at 1.0776 before easing back under 1.0730, where it spend most of the se…