The Japanese Yen has always been and advanced indicator of the behavior of the US currency and the daily chart above shows that the US DOLLAR may be making its first higher Low in a saucer formation, a configuration that usually indicates a reversal of the downtrend that has been in place since January 2017.
Bitcoin seems to be everywhere these days.
Finding a place to spend it is another matter entirely.
And worse. Soon, you’ll be able to short it through future contracts….
Popular perception is that businesses are trumpeting the acceptance of the digital currency as a form of payment. That could not be farthest from the truth…
The first half of 2017 proved to be particularly bright for the French CAC 40 corporations, which posted EUR 50.2 billion in net profit, up 22.2% over 2016.
According to the tally of the consensus, the top French corporations would reach the record amount of EUR 100 Billion for the full year.
The 1.8 % rise of the HSCEI Index of Chinese H-shares listed in Hong Kong today indicates the beginning of a powerful rally in China with a minimum initial target of 12’00 ( +10.7 %) and probably higher considering the extended consolidation that has taken place since 2015.
Apple Inc reclaimed the throne as the world’s top smartphone seller for the first time in five years on Tuesday, beating out rival Samsung in units shipped for the holiday quarter and boosting revenues with a strong showing for it new, top-of-the-line iPhone 7 Plus.
ALI BABA added $7.5 billion to its market value after reporting quarterly results that beat estimates and raising its full-year sales forecast.
China’s biggest e-commerce company increased its projection for fiscal 2017 revenue growth to 53 percent, from 48 percent previously, as Chinese spending stays strong and the company wrings revenue from fledgling areas such as cloud computing, entertainment and search.
Sterling fell roughly 16.2 percent against the dollar to mark its worst year since 2008 on worries over Britain’s June 24 “Brexit” vote to leave the European Union.
The EUR fell 3.81 % over the year and the Japanese Yen had a roller coaster ride, starting the year at 120, it appreciated to 101 before aflling back to 117.
The dollar posted sizable gains this year against the Mexican peso and the Chinese yuan of 20.6 percent and 7 percent, respectively.
The peso suffered from Trump’s proposals to build a border wall and rewrite trade agreements with Mexico, while the yuan has been pressured by capital outflows from domestic Chinese.
In 2016, Oil made the biggest annual gain since 2009 as OPEC and other producing nations plan to start supply cuts next month to reduce swelling global inventories.
Futures rose 52 percent in London this year.
Brent, the global benchmark, marked its first annual advance in four years in 2016 as the Organization of Petroleum Exporting Countries and 11 other nations push ahead with a plan to cut output. While they’ve managed to buoy sentiment and lift prices from below $30 a barrel early this year, the rising number of rigs in the U.S. and the possibility of members not sticking to output targets are a risk. U.S. inventories remain at the highest seasonal level in more than three decades.
2016 ends on a bang for the US equity markets which ended up outperfoming most of their peers following the election of Donald Trump.
The Dow Jones added 13.5 % and traded 30 points short of the psychological record level of 20’000, before receding in the last 4 days of the year. The SP500 added 9.5 % while the NASDAQ undererpeformed at 7,5 %.