Atilla
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Trading with point and figure
- Thread starter Dentalfloss
- Start date
- Watchers 90
Dentalfloss
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FTSE
Dentalfloss
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7650-7684 should be mega rez...cos a change in trend
as always...who knows
as always...who knows
Dentalfloss
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Cac 40
Dentalfloss
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5392-5456 poss a real dog
5360 supp comes in
5360 supp comes in
Dentalfloss
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The governor of the Bank of England has warned Donald Trump that further escalation of US trade disputes around the world would damage the America the most, as the world’s largest economy and China prepare to launch the opening salvos of a trade war on Friday.
Speaking hours before the world’s top two economies prepare to launch tariffs on one another’s imports, Mark Carney said further escalation would have serious and damaging consequences for global GDP. He cautioned that US growth could be hit by as much as 5%, compared with a slowdown for the rest of the world of up to half that amount.
The intervention from the head of a G7 central bank against another member of the club of wealthy nations marks one of the boldest criticisms levelled against the US president so far.
Speaking in Newcastle on Thursday, Carney said the current round of import tariffs from the US and retaliatory
Brussels has hit back with tariffs on American consumer goods including whisky, Levi’s jeans and Harley-Davidson motorcycles. Trump has said the US could go one step further by imposing tariffs on European cars, which economists fear would do far greater damage than any of the existing measures.
Carney said the impact from the president’s use of import tariffs against major trading partners including the EU and China, alongside their retaliatory measures, was already being seen through measures of global exports and manufacturing in recent weeks.
“There are some tentative signs that this more hostile and uncertain trading environment may be dampening activity,” he said.
Surveys of factory output in the US and the eurozone earlier this week showed firms were facing higher prices as a consequence of the import tariffs, as well as American manufacturers having the longest delivery delays on record.
Alongside the threat of higher taxes on European cars, Carney said the US would have the highest import tariff regime for more than half a century. He said the impact of higher taxes and uncertainty over how the president will react next may have an adverse impact for business investment.
measures against the country, including spats with the EU, had already slowed the global economy.
from The Guardian
Speaking hours before the world’s top two economies prepare to launch tariffs on one another’s imports, Mark Carney said further escalation would have serious and damaging consequences for global GDP. He cautioned that US growth could be hit by as much as 5%, compared with a slowdown for the rest of the world of up to half that amount.
The intervention from the head of a G7 central bank against another member of the club of wealthy nations marks one of the boldest criticisms levelled against the US president so far.
Speaking in Newcastle on Thursday, Carney said the current round of import tariffs from the US and retaliatory
Brussels has hit back with tariffs on American consumer goods including whisky, Levi’s jeans and Harley-Davidson motorcycles. Trump has said the US could go one step further by imposing tariffs on European cars, which economists fear would do far greater damage than any of the existing measures.
Carney said the impact from the president’s use of import tariffs against major trading partners including the EU and China, alongside their retaliatory measures, was already being seen through measures of global exports and manufacturing in recent weeks.
“There are some tentative signs that this more hostile and uncertain trading environment may be dampening activity,” he said.
Surveys of factory output in the US and the eurozone earlier this week showed firms were facing higher prices as a consequence of the import tariffs, as well as American manufacturers having the longest delivery delays on record.
Alongside the threat of higher taxes on European cars, Carney said the US would have the highest import tariff regime for more than half a century. He said the impact of higher taxes and uncertainty over how the president will react next may have an adverse impact for business investment.
measures against the country, including spats with the EU, had already slowed the global economy.
from The Guardian
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cantagril
Ouaf Ouaf!
"Jamais vieux chien n'aboie à faux" - An old dog never barks for the wrong reason
Am short from 5399 with a 5365 target. Stop at +1.
I think that might be it for me. Le weekend starts here
P
postman
Ouaf Ouaf!
"Jamais vieux chien n'aboie à faux" - An old dog never barks for the wrong reason
Am short from 5399 with a 5365 target. Stop at +1.
I think that might be it for me. Le weekend starts here
I'm long ftse 7595
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postman
Looking at a wider view the markets appear to be at a turning point.
I dont know how much lower she will go today but a large move is on the cards, most likely upwards if only someone can keep trump off twitter for 5 days.
I dont know how much lower she will go today but a large move is on the cards, most likely upwards if only someone can keep trump off twitter for 5 days.
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postman
From my perspective the upside on ftse is 7650 short term.
However the downside is 7460 but I dont think were ready for that yet.
However the downside is 7460 but I dont think were ready for that yet.
C
cantagril
On the point of ditching my Cac (...that sounds really unpleasant) around the 70 mark.
A minor curiosity is that Bastille Day is a Bradley Long Term turn date for the Dax. Perhaps this a sign that can be integrated into the Spells and Entrails approach.
A minor curiosity is that Bastille Day is a Bradley Long Term turn date for the Dax. Perhaps this a sign that can be integrated into the Spells and Entrails approach.
C
cantagril
Atilla
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I concur, for whatever rhyme or reason since start of week, market reluctant to go down and based on what ever EU or China does market is at some critical turning point.
There is the third way - that our esteemed and most knowledgeable leaders will come up with some kind of compromise that will maintain status quo with no real change and the markets numbed to dumbness will interpret that as some fantastic revelation and relief thus reach for the stars before reality dawns on us all again.
If you think I'm talking tosh as I'm strongly converging on that self belief please do let me know.
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postman
5385 looks like support to me, but I'm not doing p&f.
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postman
Serious buyers should start coming in on the ftse within the next 30 minutes.
Dentalfloss
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P
postman
Dentalfloss
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a) Payrolls / Establishment survey - Payrolls were once again very robust at 213K vs. a consensus of 195K, and a net upward revision of 37K to May & April. In the detail, Services Payrolls (+149K) were hampered by a rather unsurprising drag from Retail (-21.6K) after a rise in May (+25.1K), but compensated for by another strong gain 36K rise in Manufacturing, solid gains in Construction and Transport, and continued strength seen in Professional/business (+50K). On balance, this was very much in line with the broad swathe of anecdotal reports of very solid labour demand.
b) Unemployment Rate / Household Report - A rather more mixed Household survey, with the rise in the Unemployment Rate to 4.0% vs. expected / May 3.8% accounted for above all, by a very large jump in the workforce (so-called discouraged workers clearly returning to the labour force), as well as a sharp 499K rise in Unemployment (perhaps a reactive correction to the run of recent falls). That rise also prompted an uptick in the key U-6 Underemployment Rate to 7.8%, though this remains well below the 8.0-8.2% range that prevailed in H2 2017, and at the start of 2018. Overall its implies that there is still a little bit more slack in the labour market than the headline rate suggests, with the Labour Force Participation Rate improving modestly to 62.9% from 62.7%, but below the 2017/2018 high of 63.0%.
c) Average Hourly Earnings / Weekly Hours - Average Hourly Earnings were fractionally below the forecast of 0.3%/2.8% at 0.2% m/m 2.7% y/y, though a closer look at the detail is necessary. This is in so far as Construction Earnings posted a surprising -0.7% m/m (4.3% y/y), offset by continued strength in Mining (i.e. energy) 0.7% m/m (7.3% y/y); Services earnings posted a solid 0.5% m/m (3.2% y/y), despite the rather surprising ongoing weakness in Transport (0.1% m/m 1.7% y/y). Average Weekly Hours as expected at 34.5, with a rebound in Manufacturing Hours (40.9 vs. 40.8), paced again by Mining which hit a new cyclical high of 46.5 vs. May's 46.2, which implies a solid rise in Manufacturing Output, as was signalled by the better than expected Manufacturing ISM earlier this week.
d) Market reaction - Not quite 'meh', but once again this was rather muted outside of short-lived spikes in the US 10-yr and USD Index, perhaps not unsurprising given the divergent pull of payrolls and wages, and the cloud of trade tensions, and perhaps a desire to square books up ahead of the weekend (as already seen in Asian equities non-reaction to the US/China tariff imposition), along with the added distraction of today's double header of World Cup quarter finals.
..........................................................................
Marc Ostwald
Global Strategist
ADM Investor Services International
b) Unemployment Rate / Household Report - A rather more mixed Household survey, with the rise in the Unemployment Rate to 4.0% vs. expected / May 3.8% accounted for above all, by a very large jump in the workforce (so-called discouraged workers clearly returning to the labour force), as well as a sharp 499K rise in Unemployment (perhaps a reactive correction to the run of recent falls). That rise also prompted an uptick in the key U-6 Underemployment Rate to 7.8%, though this remains well below the 8.0-8.2% range that prevailed in H2 2017, and at the start of 2018. Overall its implies that there is still a little bit more slack in the labour market than the headline rate suggests, with the Labour Force Participation Rate improving modestly to 62.9% from 62.7%, but below the 2017/2018 high of 63.0%.
c) Average Hourly Earnings / Weekly Hours - Average Hourly Earnings were fractionally below the forecast of 0.3%/2.8% at 0.2% m/m 2.7% y/y, though a closer look at the detail is necessary. This is in so far as Construction Earnings posted a surprising -0.7% m/m (4.3% y/y), offset by continued strength in Mining (i.e. energy) 0.7% m/m (7.3% y/y); Services earnings posted a solid 0.5% m/m (3.2% y/y), despite the rather surprising ongoing weakness in Transport (0.1% m/m 1.7% y/y). Average Weekly Hours as expected at 34.5, with a rebound in Manufacturing Hours (40.9 vs. 40.8), paced again by Mining which hit a new cyclical high of 46.5 vs. May's 46.2, which implies a solid rise in Manufacturing Output, as was signalled by the better than expected Manufacturing ISM earlier this week.
d) Market reaction - Not quite 'meh', but once again this was rather muted outside of short-lived spikes in the US 10-yr and USD Index, perhaps not unsurprising given the divergent pull of payrolls and wages, and the cloud of trade tensions, and perhaps a desire to square books up ahead of the weekend (as already seen in Asian equities non-reaction to the US/China tariff imposition), along with the added distraction of today's double header of World Cup quarter finals.
..........................................................................
Marc Ostwald
Global Strategist
ADM Investor Services International
Dentalfloss
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ftse
100 point dump
poss signs of support
100 point dump
poss signs of support
