Forex News 24 |
- 7 Marijuana Stocks to Avoid That Are Bleeding Cash
- EURUSD continues to trade within specific downward range
- 5 Top Stock Trades for Tuesday: TSN, GE, PINS, CSCO
- April US Inflation Report & EURUSD Price Forecast
- BABA Stock: Let the Weak Hands Fall Out of Alibaba Stock
- Currency Market Volatility Surges on Trump Tariffs, AUD Eyes RBA
- April Canada Jobs Report & USDCAD Price Forecast
- 4 Trade War Stocks to Sell as Tensions Escalate
- Q1’19 UK GDP & GBPUSD Price Forecast
- Algorithm Predicts Market trends
| 7 Marijuana Stocks to Avoid That Are Bleeding Cash Posted: 06 May 2019 01:46 PM PDT Hits: 6 You may find it surprising, but the Post Office, the Atlanta Hawks and these seven marijuana stocks all have something in common. At first glance, you may think they have nothing to do with each other. After all, the Post Office is run by the government, the Atlanta Hawks are a professional basketball team and cannabis companies were established to profit off of the booming legal cannabis industry. But unfortunately, these very different organizations do in fact have something in common. And it just so happens that it is a very important thing. They are all losing money! None of them have made a profit in years! Obviously, the Post Office can continue to lose money forever because it's run by the governmental and the government can just raise taxes. And a professional sports team can continue to lose money as long as the owners are willing to sustain the losses. But let's talk about the cannabis companies In the stock market, the idea is to invest in companies that are, or will be, profitable. This profitability will, in turn, lead to the share price appreciating. Financial theory, history and common sense all tell us that if a company doesn't make money it will eventually go out of business. Investors will see declining share prices and losses. Looking at the Cannabis Companies: You are probably familiar with the following companies if you trade or invest in the cannabis markets. They may have cool products and be in a cool industry, but if you are considering investing in them, it is important to understand that they are losing money. You may ask yourself, "how have they been able to lose money for a sustained period of time?" The answer is that they borrow money or issue stock and use these proceeds to cover their expenses. But eventually, the ability to do so will stop if they are never able to turn a profit. I am not saying that these companies will never earn money and that you can't profit by investing in their stocks. Some of them may eventually become great investments. My intent here is to express my belief that before making an investment in a company, one should consider if it is actually making money and what the future prospects of profitability are. In the long run, these dynamics will ultimately have a significant effect on the share price. Axim Biotechnologies (AXIM)
But let's take a look at some numbers. Last year AXIM lost 12 cents per share. That means that for the year the company lost about $6.7 million. Unfortunately, losing money is nothing new to this company. In 2017 they lost $4.2 million, in 2016 the loss was $7.3 million, and it 2015 it was just over $10 million. Not surprisingly, the stock has not acted well. It is currently trading around the $1.50 level. As you can see on the chart, over the past year it has lost about 70% of its value. Maybe someday one of the company's product will be a huge success and it will become profitable, but over the past few years, it has certainly been a disappointment to shareholders. Americann (ACAN)
Americann has been involved with some enormous projects. Some of the projects include the Denver Medical Cannabis Center, the Massachusetts Medical Cannabis Center and the Illinois Medical Cannabis Center. The company is also committed to sustainability and uses clean energy from solar and geothermal sources. Apparently, the Cannabis greenhouse business isn't very profitable — at least in the way that Americann does it. Last year they lost $4.4 million which equates to a loss of 22 cents per share. This is more than they lost in the prior few years. In 2017 the loss was $2.7 million, in 2016 it was $2.2 million, and in 2015 the loss was $1.7 million. Maybe one day the company will be profitable but, as for now, they seem to be headed in the wrong direction. General Cannabis Corp. (CANN)
The security segment provides different types of services to cannabis growers and retails stores. These services include video surveillance, transporting cash and providing security professionals. Consulting services to the cannabis industry that include obtaining licenses, compliance, logistics, retail operations and facility services are offered by the operations segment. The consumer goods segment includes developing relationships with apparel retailers and distributors. The investments segment provides loans and financing to companies within the cannabis industry. General cannabis is clearly an organization that is involved in many things. Maybe it is involved in too many things. Have you ever heard the expression "jack of all trades and master of none?" I think that could apply here. This company hasn't earned any money in years. Last year it lost almost $17 million, or 49 cents per share. The prior year's losses were less than half of that. In 2017, the loss was just over $8 million. In 2016, General cannabis lost just over $10 million and, in 2015, the loss was almost $9 million. If you're keeping track, this company has lost a total of $44 million in the past four years. Cannabis Sativa (CBDS)
"Cannabis Sativa, Inc. engages in the research, development, acquisition and licensing of specialized natural cannabis related products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. The company was founded on November 5, 2005 and is headquartered in Mesquite, NV." This company seems very mysterious to me. According to MarketWatch, there is only one employee despite having revenues that were over $500 million. One of the things that I noticed when I was looking at the financials is that the Quick Ratio is only 0.25 while the average Quick Ratio for the industry is 2.67. The Quick Ratio is the company's cash and short-term securities divided by the current liabilities. Current typically means one year or less. In other words, Cannabis Sativa only has 25 cents for each dollar of debt that they have, while the industry average is to have $2.61 for each $1 of debt. With a ratio like that, it isn't surprising that they are losing money. The losses were $4.1 million in 2018, $7.6 million in 2017, $3.1 million in 2016, and $9.4 million in 2015. Tilray (TLRY)
Like the others, this company is losing money as well. I have heard that the cannabis markets are glutted and that the price of cannabis has fallen dramatically since its legalization. Many cannabis farmers are losing a lot of money. Maybe that is why Tilray is losing money as well. Tilray went public last year, but they have disclosed financial information going back further. If you think about it, it is kind of amazing that a company that loses money could go public. This was a common occurrence back in the dot-com era. The company has a market capitalization of around $5 billion despite the fact that they lost $67 million last year. In 2017, they lost about $8 million and had a similar size loss in 2016. 22nd Century Group (XXII)
But don't let their cool name and cool stock symbol fool you. They are losing money. Last year the loss was $10.4 million. That is a loss of 8 cents per share. In 2017, the annual loss was close to $17 million. The loss in 2016 was just over $15 million and the loss in 2015 was just over $14 million. Maybe this company will turn around one day and become successful, but the current shareholders must be disappointed. The valuation has fallen by about one-third since December as the price per share has fallen from $3 to $2 while the broader equity markets have been booming since then. The Supreme Cannabis Co (SPRWF)
Perhaps The Supreme Cannabis Company should consider changing their name to "The Subprime Cannabis Company" because it is losing money. It has seen the price of its stock fall by about 20% since September. Last year the company lost around $7.3 million. Losses in 2017 were more than twice that at $15.3 million. The loss in 2016 was $4.4 million and the loss in 2015 was about $5.7 million. Maybe the future will be better, but my guess is that The Supreme Cannabis Company's shareholders are supremely disappointed. As of this writing, Mark Putrino did not hold a position in any of the aforementioned securities. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.
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| EURUSD continues to trade within specific downward range Posted: 06 May 2019 01:36 PM PDT Hits: 8 EURUSD bounced of the 1.1150 support towards 1.12 but a zoomed out view of the Daily chart shows that the trend remains bearish as price continues to make lower lows and lower highs inside a downward sloping channel and inside a downward sloping wedge pattern. Red lines – bearish channel Black lines – downward sloping wedge pattern EURUSD has Daily resistance at 1.1260 and as long as price is below that level I expect another run lower towards 1.11 or 1.1070. Medium-term trend remains bearish as long as price is below 1.1350-1.1390 area. The RSI continues to diverge but this is only a warning and not a reversal signal. Short-term resistance at 1.1260 if broken will push price towards next resistance at 1.13-1.1350. The material has been provided by InstaForex Company – www.instaforex.com Can you get moneyed from fx trading? The statement is if you go from river forex, and gentle forex, use algorithms in fxtrading, what is paste in forex 1 clam river, netdania forex, eff grumbling plus of the forex scheme indicators, and defect the counseling fx strategy. We module win win all.
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| 5 Top Stock Trades for Tuesday: TSN, GE, PINS, CSCO Posted: 06 May 2019 01:07 PM PDT Hits: 4 On Sunday night, President Trump tweeted that trade talks were progressing too slowly with China and that he planned to increase certain tariffs as a result. This sent futures tumbling in the overnight session, although many bulls should be cheering the market's resilience on Monday. Let's look at some top stock trades in light of the market's action. Top Stock Trades for Tomorrow #1: Pinterest
Shares of Pinterest (NYSE:PINS) have been on fire since the company went public in mid-April. The IPO was priced at $19 and ran higher for seven straight days. On the eighth, it opened higher and tagged a new all-time high at $35.29 before embarking on a multi-day pullback. Now what? Pinterest gapped down below $28 on Monday, but has reversed higher and is showing excellent relative strength on the day. I really like PINS here and tried to get a fill in the morning. Unfortunately, I did not. But sub-$28 looks good for an initial position for long-term investors. Over $30 and PINS can breakout, potentially giving short-term traders a nice payout. Top Stock Trades for Tomorrow #2: General Electric
After reporting earnings in April, General Electric (NYSE:GE) is opting for higher prices rather than lower. We outlined the stock ahead of time, saying it was vital for it to hold $9 support. From there, should the stock rally, we wanted to see how it did with its conflux of moving averages between $9.85 and $10. It did well, pushing through all three major moving averages. Now hovering near $10.40, GE stock is at long-term downtrend resistance. It's also contending with short-term range resistance. Should it breakout over this area, bulls will likely turn their attention to $12. On a pullback, I would really like to see $9.85 hold as support, maintaining those post-earnings gains and notching a short-term higher low. Finally, keep note of how many times GE has flirted with this $10.50 level. It doesn't always hold when it pushes through. Top Stock Trades for Tomorrow #3: Cisco Systems
Cisco Systems (NASDAQ:CSCO) was looking good on Friday and as we highlighted, has several catalysts to justify a long position. However, the stock looks much better after Monday's pullback. CSCO shares pulled back to and held the 50-day moving average. The stock also filled its gap from back in March and a potential rebound could be in store. I like Cisco on the long side here against Monday's low. Below and a larger decline could ensue. Otherwise, a press back to $55 and the 20-day moving average could be in the cards, with potentially higher prices on the table depending on momentum. Top Stock Trades for Tomorrow #4: Tyson Foods
What a beast Tyson Foods (NYSE:TSN) has been. This stock has been surging all year — up more than 50% from its December lows — and by the looks of Monday's action, you wouldn't even know that the market was feeling any heat. TSN stock is up 2.6% after the company beat on earnings and revenue expectations. Shares are hitting 52-week highs as a result. Its relative strength and momentum is attractive, but with an RSI pushing 80 and with shares near channel resistance, now may not be the best time to buy TSN stock. Shares may have upside to $78 and overshoot to $79 or possibly as high as $80, but I would rather look for a buy on channel support. Should shares pullback and channel support fails, see how the the 20-day holds up. Below that and a dip into the $72 to $72.50 area could be a good spot to try a long position. Top Stock Trades for Tomorrow #5: Ferrari
Ferrari (NYSE:RACE) will report earnings on Tuesday and the stock is losing some traction. After hitting resistance in mid-April, Ferrari quickly lost the 20-day moving average, which quickly turned to resistance. On Monday, it gapped below the 50-day moving average and failed to get back above it. It's also below uptrend support (blue line). That's not very encouraging action! I want to see a few things after the company reports. On the downside, should RACE pullback, I want to see the 200-day moving average hold as support. Should shares rally, I want see if $140 acts as resistance. If it doesn't, a potential breakout can commence. If it does, I need to see the 20-day and 50-day moving averages hold as support. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long CSCO. http://platform.twitter.com/widgets.js Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.
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| April US Inflation Report & EURUSD Price Forecast Posted: 06 May 2019 12:48 PM PDT Hits: 8 Talking Points: – The April US Consumer Price Index is due on Friday, May 10 at 12:30 GMT. – The inflation report on Wednesday will only underscore the belief that the Fed is due to keep policy on hold for the foreseeable future. – Retail traders are now buying the US Dollar despite its failed breakout attempt via the DXY Index. Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where we discuss top event risk over the coming days and strategies for trading FX markets around the events listed below. 05/10 FRIDAY | 12:30 GMT | USD Consumer Price Index (APR)The April US Consumer Price Index on Friday is due to show another small rebound in price pressures, not much of a surprise given the rise in oil prices since the start of 2019. But with the oil price rebound moderating over the past few weeks, inflationary gains are due to be limited. Crude oil prices fell by -1.8% between April 5 and May 3, down from 63.08 to 61.94. In turn, medium-term US inflation expectations, as measured by the 5y5y inflation swap forwards, are off by -0.3-bps from 2.260% to 2.257% over the past month. Overall, the readings are due right at the Federal Reserve's medium-term target of +2% – supporting Fed Chair Powell's assessment at the May Fed meeting that low inflation seen earlier this year was "transitory."According to Bloomberg News, headline CPI is expected in at 2.1% from 1.9%, and core CPI is due in at 2.1% from 2% (y/y).
The inflation report on Fridayshould reaffirm the idea that the Fed is due to keep policy on hold for the foreseeable future; Fed funds futures are pricing in a 6% chance of a 25-bps rate cut in June and a 32% chance of a 25-bps rate cut by September; odds for a 2019 cut are basically a coin-flip now. Pairs to Watch: DXY Index, EURUSD, USDJPY, Gold EURUSD Technical Analysis: Daily Price Chart (August 2018 to May 2019) (Chart 1)
Much like the broader DXY Index of which the Euro compromises 57.6%, EURUSD prices have been starting to carve out a sideways range around the levels established in the last week of April and around the May Fed meeting. Since bottoming out on April 26, EURUSD prices have been trading sideways between 1.1110 and 1.1265, with the May 1 high established after Fed Chair Powell spoke at the May Fed meeting press conference. Accordingly, until one of these levels breaks, the EURUSD outlook is neutral. Put into context of the potential bullish falling wedge that has seemingly been forming since December 2018, and it's very possible that a topside break of 1.1265 would constitute the start of a bullish falling wedge reversal move for EURUSD prices. IG Client Sentiment Index: EURUSD (May 6, 2019) (Chart 2)
EURUSD: Retail trader data shows 57.8% of traders are net-long with the ratio of traders long to short at 1.37 to 1. In fact, traders have remained net-long since Apr 12 when EURUSD traded near 1.12658; price has moved 0.5% lower since then. The number of traders net-long is unchanged than yesterday and 21.9% lower from last week, while the number of traders net-short is 8.8% higher than yesterday and 33.0% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current EURUSD price trend may soon reverse higher despite the fact traders remain net-long. FX TRADING RESOURCESWhether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading. — Written by Christopher Vecchio, CFA, Senior Currency Strategist To contact Christopher, email him at cvecchio@dailyfx.com Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX http://platform.twitter.com/widgets.js Can you get prosperous from fx trading? The serve is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is farm in forex 1 symbol canadian, netdania forex, buy increase vantage of the forex scheme indicators, and account the mean fx strategy. We present follow win all.
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| BABA Stock: Let the Weak Hands Fall Out of Alibaba Stock Posted: 06 May 2019 12:28 PM PDT Hits: 8 On the back of the latest trade war tweets, Alibaba (NASDAQ:BABA) stock dropped 5% of its market cap early in U.S. trade May 6, though it tempered to around 4% later in the day. That's $25 billion flushed into the economic sewer system. By a tweet.  Source: Shutterstock However, the prospect of higher tariffs on Chinese imports should not, by itself, mean anything to Alibaba. Alibaba is not a factor in the U.S. retail market. It is an Asian play, mostly a Chinese play. Making the U.S. an unreliable trade partner will only cement its ties with the rest of the world. BABA stock is taking advantage throughout Asia, looking to do more deals in India, introducing itself to New Zealand consumers, and creating its own type font so people can tell its partners apart without thinking. BABA Stock Hitting on All CylindersNo American company, not Amazon (NASDAQ:AMZN), not Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) nor even Facebook (NASDAQ:FB), has the kind of results Alibaba shows routinely. Despite increasing its inventory risk, building its company-owned supply chain and opening retail malls, 57% of every yuan that came in Alibaba's door last year hit the gross profit line. Alibaba has enough cash to pay off its long-term debts with a check, despite its enormous, and growing physical presence across the world's fastest-growing economies. As the U.S. walks away from the world, Alibaba runs toward it, setting up direct supply agreements for Argentine beef and Chilean fruit, and entering a strategic partnership with Mexico. The American relationship with China matters very little to Alibaba. We're only a source of capital, and if we don't invest, other people will. Alibaba is now China's most valuable brand. While the "996" culture — working from 9 am to 9 pm six days every week — sounds monstrous, it speaks to workers' absolute faith in the company. It's also just three hours longer than what my dad worked in his TV repair shop 50 years ago. (He closed Saturdays at 6 p.m.) Anything Amazon can do, Alibaba can do better. Its Tmall makes Whole Foods look like a gas station convenience store. Amazon has a 30% growth rate, but Alibaba has a 60% growth rate. There are many investors who still short Alibaba. A lot of people are losing money. My Missed Call on AlibabaI rode Alibaba for two years, getting out in February in fear of China's coming real estate bust. That was a mistake. China can get out of trouble just like America did a decade ago, by printing money and bailing out the bankers. That will take a near-term toll on Alibaba's results, but it will likely emerge from the other side stronger than ever. We've provided the road map. Meanwhile, Alibaba shares are trading 20% higher than where I sold, even after the 5% drop. Alibaba is next due to report earnings May 15, with 99 cents per share on $13.47 billion in revenue expected, and $1.04 per share hoped for. The March quarter is traditionally Alibaba's weakest, yet there's 38% year-over-year growth. Alibaba also has a more profitable cloud than Amazon, selling a platform rather than just infrastructure, with applications that make it more akin to Microsoft (NASDAQ:MSFT) than Amazon or Google. The Bottom LineTrade wars are unhealthy for economies and other living things. You may quote me. But trade wars are more likely to hurt their instigators than their targets. They lead to reputations for being unreliable. The current trade tensions are a huge opportunity for China, but they're an even bigger opportunity for Alibaba. If I had their kind wealth and power in front of me, and I were 30 years younger, I'd be working 996 for it too. Dana Blankenhorn is a financial and technology journalist. He is the author of a new environmental story, Bridget O'Flynn and the Bear, available now at the Amazon Kindle store. Write him at [email protected] or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AMZN, MSFT and AAPL. http://platform.twitter.com/widgets.js Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.
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| Currency Market Volatility Surges on Trump Tariffs, AUD Eyes RBA Posted: 06 May 2019 12:18 PM PDT Hits: 8 CURRENCY VOLATILITY – TALKING POINTS:
Over the weekend, US President Donald Trump shocked markets with a tweet that stated tariffs on $200 Billion of Chinese goods will be raised from 10 percent to 25 percent this Friday. The remarks are said to be in response to US trade negotiators voicing concern that China showing signs of walking back on a possible trade deal. The blindsiding escalation came as a surprise considering several headlines from the White House proclaiming that US-China trade talks were "going well" with plans for Chinese Vice Premier Liu He to travel to Washington, DC this week for the eleventh round of negotiations. In response to this latest jolt of uncertainty, traders began to sell risk and flock into 'safe-havens' while bidding up volatility. DXY US DOLLAR INDEX 1-WEEK IMPLIED VOLATILITY PRICE CHART: DAILY TIME FRAME (JANUARY 01, 2019 TO MAY 06, 2019)Consequently, the DXY US Dollar Index 1-week implied volatility measure surged to 5.95 percent as the gauge continues to show signs that forex market volatility could be rebounding off recent lows. Price action in the Chinese Yuan also ticked higher with USDCNH jumping the most since 2015 when the CNY was devalued. FOREX MARKET IMPLIED VOLATILITY AND TRADING RANGES
Meanwhile, with the Reserve Bank of Australia on deck to announce its latest interest rate decision, AUDUSD is expected to be the most active currency pair over the next 24-hours with an implied volatility of 21.16 percent which is its highest reading since June 2016. As such, forex traders might expect the Aussie to trade between 0.6913 and 0.7067 with a 68 percent statistical probability. AUDUSD PRICE CHART: DAILY TIME FRAME (DECEMBER 18, 2018 TO MAY 06, 2019)
Since the RBA released its March meeting minutes, rate cut bets have accumulated and contributed to the sizable move lower in AUDUSD. Now, overnight indexed swaps are pricing a 46 percent chance that the RBA lowers its overnight cash rate by 25 basis points at tomorrow's meeting. If the RBA does in fact cut rates, AUDUSD could potentially target the 0.6900 price level – particularly if trade uncertainty is cited by the central bank as a contributing factor to its decision. Conversely, a firm yet cautious tone from the RBA where the central bank stands pat on rates could bolster the Australian Dollar. Although, upside may be limited by downtrend resistance or further dovishness conveyed by the RBA despite if it leaves rates unchanged. TRADING RESOURCESWhether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading. – Written by Rich Dvorak, Junior Analyst for DailyFX – Follow @RichDvorakFX on Twitter http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.
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| April Canada Jobs Report & USDCAD Price Forecast Posted: 06 May 2019 12:12 PM PDT Hits: 7 Talking Points: – The April Canada jobs report (detailing the employment change and unemployment rate) is due on Friday, May 10 at 12:30 GMT. – Consensus forecasts have the Canadian labor market reasserting strength in April, due to post a gain of 11.6K jobs, the unemployment rate to stay on hold at 5.8%, and average hourly wages to have increased by 2.3% (y/y). – Retail traders have started buying the Canadian Dollar, with USDCAD net-short positioning rising in recent days. Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where we discuss top event risk over the coming days and strategies for trading FX markets around the events listed below. 05/10 FRIDAY | 12:30 GMT | CAD Employment Change & Unemployment Rate (APR)After a surprisingly weak print in March, the Canadian labor market is looking for a modest rebound in April. Bloomberg News consensus forecasts call for the April Canada jobs report to show that the economy added 11.6K jobs after losing -7.2K in March. Even so, the six- and 12-month rates of jobs growth are 35.6K and 27.6K, respectively. The unemployment rate is due to stay on hold at 5.8% where it has since January 2019. The contraction in March was only the fourth month the Canadian economy has lost jobs since the start of 2017. Given that crude oil prices rebounded over the past several months, there may have been spillover into the Canadian energy sector (which accounts for roughly 11% of Canadian GDP), helping spur job creation and thus a rebound in the upcoming April Canada jobs report. Overall, traders have had little reason one way or the other to change their expectations about the Bank of Canada's rate trajectory for 2019. At the start of April, overnight index swaps were pricing in a 21% chance of a 25-bps rate cut by the end of September; now, those odds are barely higher at 24% (despite the BOC saying that rate hikes were completely off the table at their recent policy meeting). Pairs to Watch: CADJPY, EURCAD, USDCAD USDCAD Technical Analysis: Daily Price Chart (September 2018 to May 2019) (Chart 1)
USDCAD prices established a bearish outside engulfing bar on Friday, but the gap open higher at the start of the week has negated the potential bearish tone that might have otherwise been established. Putting price action in context of the symmetrical triangle forming going back to the yearly high, USDCAD's recent pullback may have simply been a retest of former resistance turned support. As such, the path of least resistance may be the topside in the near-term. With another smaller triangle having formed over the past two weeks of trading following the breakout of the larger symmetrical triangle, USDCAD prices appear to be coiling again before their next move. Accordingly, traders may want for a break of the April high at 1.3521 or the May low at 1.3377 before the next directional move in USDCAD prices is forecast with more confidence. IG Client Sentiment Index: USDCAD (May 6, 2019) (Chart 2)
USDCAD: Retail trader data shows 35.1% of traders are net-long with the ratio of traders short to long at 1.85 to 1. The number of traders net-long is 18.2% lower than yesterday and 18.7% lower from last week, while the number of traders net-short is 29.8% higher than yesterday and 22.5% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USDCAD prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDCAD-bullish contrarian trading bias. FX TRADING RESOURCESWhether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading. — Written by Christopher Vecchio, CFA, Senior Currency Strategist To contact Christopher, email him at cvecchio@dailyfx.com Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX http://platform.twitter.com/widgets.js Can you get prosperous from fx trading? The serve is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is farm in forex 1 symbol canadian, netdania forex, buy increase vantage of the forex scheme indicators, and account the mean fx strategy. We present follow win all.
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| 4 Trade War Stocks to Sell as Tensions Escalate Posted: 06 May 2019 11:52 AM PDT Hits: 6 Global equities are being smashed lower on Monday after President Trump — no doubt empowered by the S&P 500's run to a new record high on Friday — put the squeeze on Beijing by announcing Sunday in a series of tweets that trade talks weren't going so well after all. He threatened to raise tariffs on Chinese imports into the United States further on Friday. Suddenly, after months of teasing a trade deal, another round of escalations seems likely. In fact, the U.S. Navy recently sailed two destroyers through the South China Sea. North Korea, no doubt with Beijing's blessing, recently test-fired another ballistic missile. There is a geopolitical element to this that is worsening as well. As a result, markets look vulnerable to a significant pullback here as the post-December uptrend has grown overhyped — from Uber's upcoming IPO to a realization the Federal Reserve perhaps isn't as dovish as the bulls were hoping, with Chairman Jerome Powell wondering aloud whether inflation could soon surge higher. A number of large-cap stocks are feeling the pinch from the change of theme. Here are four trade war stocks to sell: Baidu (BIDU)Shares of Chinese internet giant Baidu (NASDAQ:BIDU) are breaking down below a six-month consolidation range that marked a 40% decline from the highs set last year. The move puts the early 2016 lows near $140 in play, which would be a further 20% loss from here. The stock was recently downgraded by analysts at China Renaissance. The company will next report results on May 16 after the close. Analysts are looking for an earnings loss of 10 cents per share on revenues of $3.6 billion. When the company last reported on Feb. 21, earnings of $1.92 beat estimates by 11 cents on a 9.4% rise in revenues. JD.com (JD)China internet retailer JD.com (NASDAQ:JD) is watching helplessly as its shares drop hard below their 50-day moving average, putting an end to a nice six-month uptrend and setting up a fall below its 200-day moving average. The stock had suffered a 60%+ decline from its early 2018 highs into the lows set late last year. A retest of those lows looks likely now, which would be worth a loss of nearly a third from here. The company will next report results on May 10 before the bell. Analysts are looking for earnings of 12 cents per share on revenues of $17.8 billion. When the company last reported on Feb. 28, earnings of 51 cents per share beat estimates by 78 cents on a 22.4% rise in revenues. Weibo (WB)Weibo (NASDAQ:WB), China's Twitter (NYSE:TWTR) knockoff, created thanks to the communists' desire to control the flow of information online, has fallen back below its 200-day moving average after a short-lived attempt to challenge the late-February highs. This was the first move into uptrend territory since stocks lost more than half of their value falling away from the early 2018 record high. The company will report on June 4 before the bell. Analysts are looking for earnings of 51 cents per share on revenues of $401 million. When the company last reported on March 5, earnings of 80 cents per share beat estimates by 5 cents on a 27.7% rise in revenues. Boeing (BA)Things are going from bad to worse for Boeing (NYSE:BA), as its airplanes are a key strategic export from the United States to China at a time when the Chinese are rapidly developing their own aerospace industry. What's more, the company is still reeling from the ongoing problems with the 737 MAX and the legal fallout from two fatal crashes over the past year. Shares are breaking down out of a five-month pennant pattern, setting up a decline back below its 200-day moving average. The company will next report results on July 24 before the bell. Analysts are looking for earnings of $1.8 per share on revenues of $21.5 billion. When the company last reported on April 24, earnings of $3.16 missed estimates by 3 cents per share on a 2% drop in revenues. As of this writing, William Roth did not hold a position in any of the aforementioned securities. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.
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| Q1’19 UK GDP & GBPUSD Price Forecast Posted: 06 May 2019 11:36 AM PDT Hits: 10 Talking Points: – The Q1'19 UK GDP report is due on Friday, May 10 at 08:30 GMT; consensus forecasts foresee a rebound in both quarterly and yearly growth rates. – GBPUSD prices recently broke the downtrend from the March and April 2019 swing highs, but gains have been limited by prior trend support turned resistance. – Retail traders are currently net-long GBPUSD and recent positioning changes point to more losses in the near-term. Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where we discuss top event risk over the coming days and strategies for trading FX markets around the events listed below. 05/10 FRIDAY | 08:30 GMT | GBP Gross Domestic Product (1Q P)Brexit tensions may have settled down in recent weeks after the deadline was pushed back to October 31, 2019. But before then, there were signs that the UK economy was finding its footing, in line with developments seen across the developed world. Given data from G7 economies, it appears that global growth hit a rut at the end of January and the beginning of February, before ending Q1'19 on stronger footing. Data from the end of the first quarter showed noticeable improvement, particularly relative to one year prior: March UK industrial production grew by 0.5%, up from 0.1% in February (y/y); and March UK manufacturing production grew by 1.1%, up from 0.6% in February (y/y). Meanwhile, March UK retail sales (ex-auto fuel) added 6.2% over the prior month after growing by 3.8% in February; like the US economy, the UK economy is highly dependent on consumption to fuel growth trends. Overall, the Citi Economic Surprise Index for the UK, a gauge of economic data momentum, gained from -25.3 to 16.4 over the course of the first quarter. Accordingly, the Bloomberg News consensus forecast for the Q1'19 UK GDP report calls for quarterly growth at 0.5% from 0.2% and yearly growth at 1.8% from 1.4%. If the Q1'19 UK GDP report comes in at 1.8% y/y, this will be the fastest rate of growth for the UK since Q4'17 (1.8% as well). Pairs to Watch: EURGBP, GBPJPY, GBPUSD GBPUSD Technical Analysis: Daily Timeframe (June 2018 to May 2019) (Chart 1)Since the bearish outside engulfing bar on June 14, 2018, GBPUSD has closed all but 14 days trading between 1.2660 and 1.3365 – approximately 94% of the past eleven-months within the range. GBPUSD prices have been quite choppy in recent days: price has broken the downtrend from the March and April swing highs; but price has been rejected at former uptrend support off the December 2018 low. For a more complete overview of the GBP-crosses, see Currency Strategist James Stanley's recent note, Sterling Technical Analysis: GBP/USD Tests Support at Prior Resistance. IG Client Sentiment Index: GBPUSD Price Forecast (May 6, 2019) (Chart 2)
GBPUSD: Retail trader data shows 57.1% of traders are net-long with the ratio of traders long to short at 1.33 to 1. The number of traders net-long is 11.4% higher than yesterday and 31.6% lower from last week, while the number of traders net-short is 3.6% lower than yesterday and 38.5% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBPUSD-bearish contrarian trading bias. FX TRADING RESOURCESWhether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading. — Written by Christopher Vecchio, CFA, Senior Currency Strategist To contact Christopher, email him at cvecchio@dailyfx.com Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX http://platform.twitter.com/widgets.js Can you get prosperous from fx trading? The serve is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is farm in forex 1 symbol canadian, netdania forex, buy increase vantage of the forex scheme indicators, and account the mean fx strategy. We present follow win all.
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| Algorithm Predicts Market trends Posted: 06 May 2019 11:30 AM PDT Hits: 9
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