Author Archive: Jeremy Parkinson
Trump Falling Short On Promise To Fix Trade Deficit
President Trump is falling woefully short on his promise to fix the trade deficit. It’s on track to hit $570 billion this year — up from $505 billion in 2016. Critics blame the trade gap for lost manufacturing jobs, and apologists assert it permits Americans to consume more and cheaper products without much harm. Both arguments have some […]
US Import, Export Prices Tumble For 2nd Month As China Deflation Exports Accelerate
For the second month in a row both import and export prices fell MoM (imports -0.2%; exports -0.2%)… This is the equal biggest MoM drop in import prices since Feb 2016… Petroleum prices dropped 2.2% – the biggest driver – along with Foods & Beverages (-1.6%) and Agricultural (-1.5%). Year over year, import and export price […]
Global Value Chains And Productivity
Production processes have become more likely to cross international borders, thus creating what are called “global value chains” or “global supply chains.” Chiara Criscuolo and Jonathan Timmis discuss “The Chiara Criscuolo and Jonathan Timmis discuss “The” in the Spring 2017 issue of International Productivity Monitor (vol. 32, pp. 61-83). I’ll start here with a few facts, and then […]
AUD: Valuation Getting Stretched; What’s Next? – NAB
The Australian dollar made a big break, taking advantage of the hawkish RBA minutes. Has it gone too far? Here is their view, courtesy of eFXnews: NAB FX Strategy Research notes that AUD/USD spent much of the March-June period significantly undervalued relative to NAB’s Short Term Fair Value model (STFV), before spending all of July above […]
Euro Break-Out, Pound Break-Down, And The Dollar Drops Again
While this week does contain the potential for some fireworks, few were probably expecting matters to develop so quickly ahead of the European Central Bank rate decision on Thursday. Starting at about 9PM ET yesterday, EUR/USD began to breakout to the upside, again, and the move hasn’t yet stopped. This breakout has cleared above the […]
Johnson & Johnson And Harley-Davidson, Inc. Q2 Earnings Reports
The Johnson & Johnson (JNJ) Q2:F17 and Harley-Davidson (HOG) Q2:F17 earnings reports were released before opening bell this morning. Johnson & Johnson posted adjusted earnings of $1.83 per share on $18.8 billion in sales, compared to the consensus estimates of $1.79 per share and $18.95 billion in revenue. In last year’s second quarter, the company […]
USD/CAD’s Performance At The Start Of Previous BOC Rate Hike Cycles Points To More Downside
Last week’s price action in the Canadian dollar marked a major “sea change” for the currency. Whereas the loonie had previously been lumped in with the other commodity dollars struggling to recover from the big downdraft in the price of hard goods, last Wednesday’s rate hike from the Bank of Canada injected new life into […]
Bear Of The Day: O’Reilly Automotive
O’Reilly Automotive (ORLY) is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the US, serving both professional service providers and do-it-yourself customers. Founded in 1957, the company IPO’d in April 1993. As of March 31, 2017, they operated 4,888 stores in 47 states. Shares Plunge After Weak Sales […]
The Stock Whisper Of The Day: BAC, ERIC, DIA, TGT, NLY, HOG
Hot stocks of the day: BAC, ERIC, DIA, TGT, NLY, HOG Video length: 00:04:46
Krona Slides Most In Two Months As Riksbank Minutes Add To Central Bank Confusion
So, the Riksbank. That’s the folks in Sweden. You know, the people Paul Krugman called “sadomonetarists” in a truly cartoonish 2014 blog post. Those would be the same “sadomonetarists” who abandoned their sadomonetaristic tendencies to follow Mario Draghi down the accommodative policy, ZIRP-to-NIRP, QE rabbit hole in order to ensure the krona didn’t soar in the face […]
