EUR/JPY advances for the second consecutive day, trading around 162.27, reflecting a 0.25% rise amid a favorable risk-on market environment. The pair shows an upward bias on the daily chart, with a significant resistance level at the August 2008 high of 165.60. On the downside, initial support is identified at the Tenkan-Sen level of 160.72, followed by the Senkou Span A at 160.07 and the Kijun-Sen at 159.44. EUR/JPY continues to advance for the second straight day, gaining traction toward 162.50 in late trading during the North American session, amid a risk-on impulse and despite Japanese authorities’ intervention threats. At the time ...
After two months of increases in the 1-Year inflation expectation as tracked by the NY Fed’s monthly consumer survey, October saw the first decline in this series which traditionally is also a proxy for the price of oil since July. The drop in 1 year inflation expectations was matched by a small decline in 5 year inflation expectations, while inflation expectations at the 3 year point were unchanged.Here are the details: as shown in the chart below, inflation expectations at the one-year horizon decreased to 3.57% from 3.67% in Sept; median inflation expectations at the three-year ahead horizon remained unchanged at 3.0% while 5-year-a...
Image Source: Pixabay munKNEE.com tracks the stock performances of 101 artificial intelligence and related (AI&R) companies on a daily basis highlighting such information in a number of exclusive articles each week for TalkMarkets. This article focuses on the performances of 12 AI&R stocks that are still very much in bubble mode (i.e. above 100% YTD) as compared to the performance of the Global X Artificial Intelligence and Technology ETF (AIQ) of 91 AI&R constituents which is only up 40% YTD.The 12 stocks are ranked below, in descending order, as to their stock performances YTD and market capitalizations. In addition, to help as...
Image Source: Unsplash We kickoff the day with Fed Cool Speech at 7:50 A.M., Consumer Inflation Expectations and Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., Monthly Budget Statement and IBD/TIPP Economic Optimism at 1:00 P.M., and Crop Progress at 3:00 P.M.The new week begins with the grain futures being mixed in the early going. The markets are hinting at what is ahead with demand destruction. The futures markets are directing us to what is ahead of us as we are getting signals from the food and energy sectors that no is right. The game-changer is right in front of our faces with political changes a...
Image Source: Pixabay The 1930s saw a major global recession and a decade of debt default and restructuring, sovereign, corporate, and personal. The 1970s saw a series of mild recessions, accompanied by inflation; debt defaults and restructurings were far less severe. Today we are likely due for a recession of uncertain length and depth (though unlikely to match the U.S. 1930s) and inflation that seems likely to match the 1970s. However, for structural reasons, I shall explain, that the pattern of debt restructurings seems likely to resemble the 1930s rather than the 1970s.There were some international debt restructurings in the 1930s, but...
Image Source: Unsplash Wheat:General Comments: Wheat markets were lower for HRW, but higher for SRW and HRS last week in lifeless trading. The USDA estimates that showed higher than expected ending stocks estimates or the US and the world. USDA increased imports by 10 million bushels and cut back slightly on domestic demand while leaving export demand unchanged. US ending stocks were estimated at 684 million bushels, from 670 million last month. USDA increased world Wheat production and also demand for ending stocks estimates of 258.7 million tons, from 258.1 million last month Ukraine is still exporting through the Black Sea. Russia is st...
Photo by Kimzy Nanney on Unsplash For the trading week that ended November 10, 2023, my proprietary Canadian Cannabis Company Index (MCCCI) decreased by 3.9% compared to the prior week when it increased by 18.8%. The index consists of 14 stocks, many of which are among the most widely held holdings of the 3 ETFs (MJ, CNBS, and THCX) that I consider to be a reliable barometer of the Canadian cannabis sector. MCCCI’s differentiated business model is both weighted and market capitalization-based because I believe that this approach best represents the current landscape of the Canadian cannabis sector. Now let us look at this week’s goo...
Image Source: Pixabay Consider this description of America’s discontent: “…a Hamlet-like loss of self-confidence, with an apocalyptic sense of doom for the civilization. On the Right it embodies a conviction that the sensate culture is pushing the society down the Gaderene slope of drugs-and-fornication to destruction. On the Left there is the vague sense that America is imperialist, fascist-oriented, caught in inner contradictions of class and ethnic struggles which will end in self-destructive wars or civil chaos. …the fragmenting and polarizing of institutions (family, neighborhood, university, church, nation)...
Image Source: Pixabay How long will it take for the current level of inflation to subside? If history is any guide, it could take quite a while. Across 198 policy interest rate hikes of at least 1%, a decrease of 1% in inflation took 2 to 4 years (Havranke and Rusnak, 2013). The authors of this research article conduct an empirical analysis of the behavior representative of inflation to provide a realistic context for public consideration and interpretation. In April 2021, inflation crossed the 4% mark. Is the current expectation that inflation is, in fact, transitory, or does it foreshadow a much longer recovery period? How Transitory...
Image Source: Unsplash Cisco Systems (CSCO – Free Report) is set to release its first-quarter fiscal 2024 results on Nov 15.The company anticipates first-quarter fiscal 2024 revenues to be between $14.5 billion and $14.7 billion. Non-GAAP earnings are expected between $1.02 and $1.04 per share.The Zacks Consensus Estimate for revenues is pegged at $14.61 billion, indicating an increase of 7.17% from the year-ago quarter’s reported figure.The consensus mark for earnings has been stable in the past 30 days at $1.03 per share. The figure suggests an increase of 19.77% from the prior-year quarter’s levels.Let’s see how things ...