It could have been worse: The UK economy grew by 0.5% q/q and 1.9% y/y, exactly as expected according to the preliminary release. It seems like markets were expecting a worse outcome, given data was not that positive of late. GBP/USD is releasing a sigh of relief and advancing, getting closer to 1.43. As with many other developed economies, manufacturing weighs down on growth while services lead the way. The 2015 GDP report card shows 2.2% growth in Britain. 2014 was better with 2.9%. The UK was expected to report a growth rate of 0.5% q/q in Q4 2015, following a slower rate of 0.4% in Q3. Year over year, a slower rate of 1.9% was expected ...
EUR/USD Intraday: bullish bias above 1.085. Pivot: 1.085 Most likely scenario: long positions above 1.085 with targets @ 1.094 & 1.0965 in extension. Alternative scenario: below 1.085 look for further downside with 1.082 & 1.08 as targets. Comment: the RSI is well directed. Gold spot Intraday: bullish bias above 1115. Pivot: 1115 Most likely scenario: long positions above 1115 with targets @ 1128 & 1133 in extension. Alternative scenario: below 1115 look for further downside with 1109.5 & 1104.5 as targets. Comment: a support base at 1115 has formed and has allowed for a temporary stabilisation. Crude Oil (WTI) (H6) Intraday: ...
Stock Market Crash: Is the Dow headed for a repeat of 2008 We could not help ourselves and put the word stock market crash in the title because every Tom, Dick and Harry is now chanting this tune. Take a look at some of the recent headlines: Is the stock market headed for a repeat of 2008? On marketwatch.com A stock-market crash of 50%+ would not be a surprise — or the worst-case scenario on Yahoo Finance Stock Market Crash 2016: This Is The Worst Start To A Year For Stocks Ever on rightsidenews.com And the list goes on and on. The Naysayers are busy listing several factors that in their opinion does not bode well for the market Ultra low...
Nokia Corporation (NOK) is a Finland-based telecommunication and network infrastructure company. The Company operates through two business segments: Nokia Networks and Nokia Technologies. Nokia Networks offers network infrastructure software, hardware and services, and is divided into Mobile Broadband and Global Services. Nokia Technologies develops and licenses technologies and manages an Intellectual Property (IP) portfolio of approximately 10,000 patent families consisted of approximately 30,000 individual patents and patent applications. I Know First wrote an article about Nokia on July 8th, 2015. The article argued that the company...
In the midst of this global stock market meltdown, you’re probably wondering whether you should do nothing or something. Gurus, pundits, and advisors usually recommend doing nothing in times of extreme volatility and uncertainty. Their argument is that the future is unpredictable, the market will bounce back, and staying fully invested has proven to be the best bet for the long haul. However – like so many investment rules and advice – it is inadvisable to think they’re applicable to all investors, regardless of their age and the market conditions. Let me share with you an example: Yesterday, my son who is soon off to college, asked...
“In the year of 1284, on the day of Saints John and Paul on June 26, by a piper, clothed in many kinds of colours, 130 children born in Hamelin were seduced, and lost at the place of execution near the koppen.” We are all familiar with the tale of the brightly-clothed pied piper whose lovely tune was so enchanting as to lure a town’s entire population of children to their premature demise. Few may realize the legend was born of true events. The Lower Saxony hamlet was battling a rat infestation and the pied piper originally labored to rid the scourge in exchange for payment. Rat-free, the townspeople reneged and paid dearly with their c...
Durable Goods Orders crashed 5.1% MoM, far below the worst Wall Street forecast… … and turned back negative YoY as both sets including and ex-transports continues to deteriorate, flashing that a recessionary environment is already upon us (if not an actual recession). However, it is in the core – non-defense ex-aircraaft – segment that we see the real bloodbath as shipments plunged and new orders collapsed 7.5% YoY – another “worst since Lehman” moment. Of course we still have bartenders and waitresses to maintain the US economy so this is just transitory weakness in the stock market’s most-de...
We have consistently been making the contrarian call for a falling silver price and a rising gold to silver ratio for years. This ratio has risen a lot during this time. So are we ready to change our call yet? Review of Our Call in 2015 Let’s hold ourselves accountable for what we said last year in our Outlook 2015: “There is currently no evidence that scarcity is rising, and thus gold should shoot da moon.” Our bottom line recommendation was, “To those looking to trade, at the moment this report is published you might buy gold for a quick trade. There is no case to buy silver.” We added, “We see no rush to load up the truck just...
The jump in oil prices to above $33 per barrel helped to lift commodity-linked currency pairs which included the Aussie and Kiwi Dollars, as well as the Canadian Loonie. In early trade in Europe, the Australian Dollar rose nearly 0.9% and approached a 3-week peak. Meanwhile the New Zealand Dollar saw marginal gains following the Reserve Bank’s dovish sounding policy decision. The RBNZ Governor hinted at the possibility of more easing ahead given the shaky outlook for the global economy. As reported at 10:41 am (GMT) in London, the AUD/USD was trading at $0.7084, a gain of 0.80% and near the session peak of $0.7092. The NZD/USD was up 0.53% ...