GENEVA – The UN human rights chief called on Iran on Wednesday to rein in security forces to avoid further violence and respect the right of protesters to freedoms of expression and peaceful assembly. Zeid Ra’ad al-Hussein, UN High Commissioner for Human Rights, said in a statement that more than 20 had been killed and hundreds arrested across Iran in the past week and he urged "thorough, independent and impartial investigations of all acts of violence that have taken place." Protesters "have a right to be heard," he said. There must be "a concerted effort by the authorities to ensure that all security forces respond in a manner that is proportionate and strictly necessary, and fully in line with international law."
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Stock futures point to a higher open on Friday, a day after the European Central Bank (ECB) unveiled its asset purchase program that exceeded market expectations. There is some consensus among market participants that the launch of QE program has been fast-tracked because of the market volatility caused by the Swiss National Bank’s decision to abandon its euro peg a week ago.
The focus now will be on Greece ahead of Sunday’s snap election in the country after the Parliament failed in late December to agree on a new head of state. According to opinion polls, anti-austerity party Syriza, or the Coalition of the Radical Left, is heading for a comfortable victory. There are fears that hard-left Syriza coalition may renegotiate a chunk of Greek debt and end austerity measures if it is voted into power.
The Asian markets rallied, with the MSCI Asia Pacific Index heading for an eight-week high, after the European Central Bank announced a bigger-than-expected program of asset purchases to stimulate the region’s sagging economy. It is believed that the ECB’s program to buy euro-zone government bonds will boost global liquidity at a time when the U.S. Federal Reserve is on track to raise short-term interest rates.
Chinese stocks, however, seem to be losing ground after a buoyant start. Stocks rose sharply earlier in the day after the People’s Bank of China injected about $8 billion into the banking system and a report showed that China’s manufacturing PMI rose slightly at the start of the year, although activity shrank for a second straight month.
Commodities are mostly lower, with copper prices coming under significant selling pressure on concerns over excess supply and a cooling global economy. Oil prices, meanwhile climbed nearly 2 percent in Asian deals on news of the death of King Abdullah bin Abdulaziz Saud of Saudi Arabia, one of the biggest oil producer of the world. Investors are anxious over whether Saudi will change crude output during the succession.
In economic releases, expectations for house price growth in London increased in January, but the pace of growth was the weakest in 14 months, a survey of British households carried out by Markit Economics and Knight Frank showed. The house price sentiment index fell to 58.2 from 59.1 in the previous month.
Investors await manufacturing and service PMI reports from major European economies, U.K. retail sales figures for December as well as U.S. data on existing home sales and leading indicators later in the day for further clues on the global economic outlook.
On the earnings front, General Electric, Honeywell and McDonald’s are among the prominent U.S. companies that will unveil their quarterly results before the U.S. opening bell.
In domestic corporate news, U.K-based building materials group CRH Plc confirmed media reports that it is in discussions with French cement giant Lafarge SA and Holcim regarding the potential acquisition of certain assets being disposed of by Lafarge and Holcim in advance of their proposed merger.
Spanish telecom operator Telefonica S.A. is nearing a deal to sell its U.K mobile business, Telefonica UK or O2, to Hong Kong billionaire Li Ka-shing’s Hutchison Whampoa for about 10 billion British pounds or $15 billion, the Financial Times reported.
Novo Nordisk A/S announced that it has received a positive opinion from the Committee for Medicinal Products for Human Use under the EuropeanMedicines Agency on the use of its drug Saxenda for the treatment of obesity.
European stocks rallied to hit a fresh seven-year high on Thursday after the ECB announced a full-scale bond buying program worth more than one trillion euros in a bid to stave off deflation and give a big fillip to growth. The German DAX rose 1.3 percent, France’s CAC 40 gained 1.5 percent and the U.K’s FTSE 100 index added a percent.
On Wall Street, stocks chalked up their four straight day of gains on Thursday, as regional banks and transportation companies posted better-than-expected earnings, data on jobless claims pointed to continued improvement in labor market conditions and the ECB announced a bigger-than-expected program of asset purchases to stimulate the region’s sagging economy. The Dow and the S&P 500 rallied about 1.5 percent each, while the tech-heavy Nasdaq soared 1.8 percent.
by RTT Staff Writer
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- USD/JPY Technical Strategy: Flat
- Support: 117.91, 115.48, 113.51
- Resistance: 119.48, 120.82, 121.91
The US Dollar is consolidating gains against the Japanese Yen having advanced as expected after forming a Bullish Engulfing candlestick pattern. Near-term resistance is at 119.48, the 23.6%Fibonacci expansion, with a break above that on a daily closing basis exposing the December 23 high at 120.82. Alternatively, a reversal below the 23.6% Fib retracement at 117.91 opens the door for a test of the 38.2% threshold at 115.48.
Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.
Add these technical levels directly to your charts with our Support/Resistance Wizard app!
Daily Chart – Created Using FXCM Marketscope
— Written by Ilya Spivak, Currency Strategist for DailyFX.com
Google has launched a scheme in the UK and Spain that pays businesses Cash for structured settlements
to get customers to sign up to its apps.
The Google Apps Referral Programme is designed to reward businesses who successfully get new users into its online office suite. The company says those who sign up will “receive £10 for every user who signs up based on your recommendation”.
After joining, it works like this:
- Users receive a unique referral link after registration
- They fill in their details and send off some emails
- They’re rewarded with £10 when customers sign up using the users’ referral link
Google announced the programme in the US and Canada in March last year. There, users can earn $15 a per customer. At the time, Google said around 5 million businesses were registered with Apps — using the likes of Gmail, Google Calendar, and Google Drive for their businesses.
Now the Silicon Valley company is trying to get more involved in the UK and Spain. There is a huge race on in “enterprise” technology — the software that companies use to run their businesses. Traditionally, companies like Microsoft have dominated that industry. But relative newcomers like Google and Amazon are now providing all sorts of lucrative back-end support for businesses.
Google’s enterprise apps work a lot like its consumer apps, except on a mass scale. Google explains that no IT experience is required and there are no systems to manage, either. It’s all done magically, the cloud. The referrals work through email links and money is paid directly into bank accounts.
A spokeswoman for Google tells Business Insider that it’s expanding the scheme internationally because it’s been “so successful in the US and Canada”. She says Google Apps allows more small businesses to be exposed to a better way of working in their respective communities. “We are seeing great growth for Google for Work. It’s simply another way to reward our users.”
More than 10,000 people have signed up for the Google Apps Referral Programme since it launched in the US and Canada.
On its business blog, Google adds:
For those of us who use Google Apps, the ability to access all of our documents from anywhere on any device and being able to seamlessly collaborate with colleagues or customers across the world, are impressive moments. To help continue the momentum, we’re launching the Google Apps Referral Programme in the UK and Spain. It allows users to recommend Google Apps to people and companies they know and receive £10 for every user from a company that signs up. As an added incentive, we will also provide coupons that save 20% on the price of Google Apps.
Featured Breadth Chart of the Day
New highs are not there, we only did 81. I think we continue to bleed out momentum to what is already a sluggish market that is biased to drift higher. We think some lower level testing might make more sense from here.
Quote of the Day:
There is no cure for birth and death save to enjoy the interval.
Comments and Levels for the Front (S&P 500 – E-mini futures) contract:
Here’s my deal. The super trading range is 1913 x 1841… I expect us to stay in that box for a while. For today, 1891 looks to be a reasonable spot to look for a drop. I don’t really have a long spot, maybe 1880. The breadth and A/D line are flailing and bull markets need leadership and leadership is usually revealed at lower prices. We still favor the downside.
On the MiM:
Nothing on the MiM as we had a decently volatile close, but the MiM was all over the place and never really triggered one way or another and it left me sidelined watching the give and take.
If you have streaming issues, please let me know. firstname.lastname@example.org
|Date Of Signal||Direction||x:00 Entry/Close||x:20 Entry/Close||x:30 Entry/Close|
|5/8/2014||Long||3.11 (xx:40)||1.24 (xx:40)||—|
If you want to join the meter readers you can go to: Join the MiM
Comments about TLT (Twenty year Bond ETF):
Wrong way TLT… Looing for 114 now on the upside.. One of these markets (either equities or bonds) is not going to sustain.
Follow me on Twitter @redliontrader <<<<<
Breadth Charts in Full: Zweig Breadth Thrust
This kind of action almost always resolves lower.
Cumulative Volume Index:
No new high here.
Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):
Lackluster follow through.
New Highs / New Lows ratio chart:
That ain’t the 90s.
Trenders Short Term Trender – McClellan Summation Index:
Long Term Trender – Cumulative 4-week Highs – Lows (the fat lady):
So come on in and let me know if it works.
go to http://chat.fortunesrocks.me and click on” Sign Up”. That should get you in and give you a password. There is still work to do but any shakedown you can provide will be appreciated.
I am sharing my charts and also the MiM this afternoon at 3pm so you can see that in action, too.
Hope to see you in the room (remember – Chrome or FireFox only!).
As always, we want your feedback! email@example.com
Thank you for Reading – Marlin aka RedlionTrader @redliontrader
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