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Our Top Five Weekend Stock Stories
Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Fresenius (FSNUY) decided to terminate the company’s merger agreement with Akorn (AKRX), citing Akorn’s “failure to fulfill several closing conditions.” The company said in a statement, “Fresenius’ decision is based on, among other factors, material breaches of FDA data integrity requirements relating to Akorn’s operations found during Fresenius’ independent investigation. Fresenius offered to delay its decision in order to allow Akorn additional opportunity to complete its own investigation and present any i... -
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AUD/USD Forecast Apr. 23-27 – A Sharp U-turn Slams The Aussie, CPI Eyed
The Australian dollar tried to move to higher ground but collapsed after climbing above 0.78. Rising US yields boosted the greenback and the A$ could not match it. Will we see further falls? Here are the highlights of the week and an updated technical analysis for AUD/USD. The prices of aluminum and other metals shot up, helping the Australian dollar, a commodity currency. However, these rises were partly the result of trade tensions which then weighed on the currency. Moreover, rising US yields, based on upbeat economic data and optimistic messages from the Fed sent the USD higher, causing a sharp turnaround. AUD/USD daily graph with suppo... -
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Australian Dollar Faces Potential Local CPI And US GDP Miss
AUSTRALIAN DOLLAR FUNDAMENTAL FORECAST: NEUTRAL Talking Points: Australian Dollar paid more attention to sentiment last week than relevant economic data Local CPI and US GDP could disappoint, taking the currency one way and then another This opens the door for risk trends to take the spotlight for the Australian Dollar yet again The Australian Dollar was on its way to finish another week higher against its US counterpart. It did show some temporary weakness on softer Chinese industrial production figures and a rather disappointing local jobs report. However, it recovered in both instances in the aftermath. It wasn’t until closer towards ... -
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Financial Rape Of America – Catherine Austin Fitts
Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts warns that the “financial rape of America” is nothing more than “re-engineering” the debt based economy. This “rape” is happening from earth to space, and it connects to $21 trillion in “missing money” that has disappeared from the federal budget since the late 1990’s. Fitts explains: “I started to look at where all this missing money from the federal government is going, and it led me into space. There are lots of questions.In the last few years, the commitment by the American government, the European government and the Asian governments h... -
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Forex Forecast: Pairs In Focus – Sunday, April 22
The difference between success and failure in Forex trading is very likely to depend upon which currency pairs you choose to trade each week, and not on the exact trading methods you might use to determine trade entries and exits. Each week I am going to analyze fundamentals, sentiment and technical positions in order to determine which currency pairs are most likely to produce the easiest and most profitable trading opportunities over the next week. In some cases it will be trading the trend. In other cases it will be trading support and resistance levels during more ranging markets. Big Picture April 22 In my previous piece last week, I f... -
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Inflation, With A Shelf Life
For the last few weeks we’ve used the conditions noted in the graphic below as a guide. Well, the ‘inflation trade’ (IT) popped last week and that included cyclical metals (as well as silver) ramming upward vs. gold and TIP rising vs. TLT & IEF. As for credit conditions, there is little imminently raising caution flags as commercial lending and risk taking (as indicated by high yield junk bonds) continue apace, but the note still stands on the bigger picture as the credit system and money supply are gumming up with the Fed in quantitative and Fed Funds tightening mode while the velocity of money in the economy maintains a secular d... -
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The Shameful Silence Of The CEOs
Congressional Republicans would be more willing to stand up to Trump if their major financial backers – big business and Wall Street – had more backbone. Ever since 1971, when the then future Supreme Court justice Lewis Powell urged corporations to mobilize politically, corporate money has flooded Washington – most of it into Republican coffers. Today, big corporations and Wall Street essentially own the Republican Party. In the 2016 campaign cycle, they contributed $34 to candidates from both parties for every $1 donated by labor unions and all public interest organizations combined. They donate far more to Republicans than do extremis... -
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The Pension Crisis Gets A Catchy Name: “Silver Tsunami”
Pensions really are in crisis, but the story is so full of large numbers, obscure projections, and dry terms like “unfunded liabilities” that not many people are paying attention. The same is true for a lot of other big trends out there, which is why those sounding the alarm eventually settle on pithy/scary (if not always accurate) terms to get people’s attention. Global warming, for instance, or nuclear winter. Now the pension crisis may have found its hook: ‘Silver Tsunami’ hits as pension costs devour California school budgets (San Francisco Chronicle) – What happens when state funding improves, but local school budgets get wor... -
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S&P 500, DAX & FTSE – Outlook Shrouded In Uncertainty
Talking Points: A few ‘high’ impact data events, S&P 500 short-term technical outlook murky ECB meeting on Thursday key event for the DAX UK GDP on Friday, FTSE will look to try and hold onto its recent gains S&P 500 Looking ahead to the calendar next week there are a few nuggets of ‘high’ impact data. On Tuesday, we have Consumer Confidence, then on Thursday Durable Goods and the Trade Balance, and to finish the week on Friday we have the release of Q1 GDP figures. For estimates and release times, check out the economic calendar. There is always geopolitical headline risk to keep an eye on as well. The S&P made...
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