GBPUSD is facing 1.6259 resistance, a break above this level will indicate that the uptrend from 1.4813 (Jul 9 low) has resumed, then the following upward movement could bring price to 1.6500 zone. Support is at 1.6080, only break below this level will suggest that lengthier consolidation of the uptrend is underway, then sideways movement in a rang between 1.5894 and 1.6259 could be seen.
Provided by ForexCycle.com
How do you fancy paying US$1,011 for just one share?
If that’s your bag you may want to think about having a flutter on Google [NASDAQ: GOOG]. It closed at that price on Friday in the US. It was up 13.8% for the day.
Of course, at US$1,011 Google has a long way to go before it catches up with Warren Buffett’s Berkshire Hathaway [NYSE: BRK/A], which ended the day on Friday at US$175,400 per share.
But Google’s whopping share price is only part of the story. The most important part is the reason behind Google’s big price rise on Friday – it could mean the phoney economic recovery is stronger than we think…
Let’s make one thing clear. We’re still copping flak from folks who think we don’t get what’s going on in the big economic picture.
Well, we’ll say it again: we do get it. That’s why we call it a phoney recovery. But we also get it that regardless of what’s happening on the macro-economic and political front, stocks are still going up.
Just look at Google. Just look at the S&P/ASX 200. This year they are up 44.5% and 13.9% respectively.
You’ve got to ask yourself, do you want to sit and gloat and say things are a mess and not make money? Or do you want to acknowledge things are a mess and give yourself a chance to make a lot of cash on stocks?
You know our answer. What’s yours?
One of the most economically sensitive sectors is the advertising sector. When the economy looks as though it may be going downhill, companies tend to cut back on advertising costs.
They do that because they figure if consumers are keeping their hands in their pockets there’s no point spending money on advertising. Now, you can argue the merit of that all you like, but it’s a fact.
Naturally, some businesses will maintain their ad spending. They see it as an opportunity to grab market share from the competition. But even so, for the advertising industry as a whole, a poor outlook means lower revenues and lower profits.
And that’s exactly where the economy is now, right? That’s the thing. If you look at Google’s revenue and profit numbers you’ll see that’s far from being the truth. That’s why the stock gained 13.8% on Friday to US$1,011.41.
In the September 2012 quarter (US companies report results quarterly, unlike Aussie companies who report results half-yearly) Google brought in revenue of US$13.3 billion and profit of US$2.2 billion.
In the just-released September 2013 quarter Google brought in US$14.9 billion in revenue and profit of US$3 billion.
In percentage terms that’s a revenue increase of 12% and a profit increase of 36%. So much for an economic slowdown. If we measure the strength of the economic outlook on the willingness of firms to spend on advertising, then this is a good sign.
Now, we know the September quarter doesn’t include most of the potential negative impact of the US government shutdown. By ‘negative impact’ we mean the possibility that companies were so worried about it that they pulled back on ad campaigns.
We won’t find out that until early next year when Google reports its December quarter numbers.
But that’s for then. For now, regardless of gripes about the US budget and debt ceiling you can’t ignore the fact that the US S&P 500 is at a record high. The NASDAQ index is at its highest point since it crashed in 2000.
And the Aussie index is on the verge of surging towards our near-term target of 6,000 points by the end of this year.
On top of that, Google’s results confirm we were right to take a punt on economically sensitive stocks.
In November last year we tipped two Aussie media plays. They had both taken a beating during the previous three years. But we bet that most of the worst was over.
If we were wrong then it was a speculative play anyway. Speculators know that they shouldn’t invest more than they can afford to lose. But if it paid off then over time it could result in some pretty big gains.
It’s an idea we’ve stuck with over the past 11 months despite the negativity in the mainstream about the economic outlook. In fact, we believe in the story so much that in the current issue of Australian Small-Cap Investigator we’ve tipped another stock, only this one has a direct involvement in the advertising sector.
If things pan out as we expect then we’re looking at a big triple-digit percentage gain. But as we say, it’s a speculative punt. That’s true with all small-cap stocks. But with Google’s record results showing that advertisers are prepared to spend, we’re confident this is the right time to buy into this economically sensitive industry…
…And we’re equally confident that not only does this spell good news for advertisers, but it should spell good news for the rest of the Aussie stock market too.
If the news keeps going this way, more good news for stocks is on the way.
Cheers,
Kris+
From the Port Phillip Publishing Library
Special Report: UNAVOIDABLE: Australia’s First Recession in 22 Years
You should stock up on gold and silver while you can – in particular, physical precious metals and high-end mining shares.
In the short and medium terms, prices of precious metals will do whatever they do. Up a little, down some and sideways for a while. Day to day, you just never know. The price chart bounces around. But long term? Hold gold. Hold silver.
In fact, today there’s more reason to hold precious metals…
Why buy gold and silver, especially after the sell-down of the past year or so? Start with the fact that Chinese are buying lots of gold. Lots! Here’s the latest chart of Chinese gold imports from Hong Kong, showing strong, steady accumulation over the past two years:
Since September 2011, China imported 2,116 tonnes of gold. So in just two years, China has imported just under the equivalent of the entire gold reserves of France (2,435 tonnes) or Italy (2,451 tonnes).
Or look at it this way. While Western buyers and monetary players disdain gold and sell it – for example, while large Western stakes like SPDR Gold Shares (GLD) are liquidating gold holdings – the Chinese are buying gold, and then some.
Evidently, the People’s Bank of China (PBOC) is making good on its quietly stated long-term goal of creating a gold-backed national currency. That, and China is making all manner of bilateral trade deals with a host of nations, in which nations trade with China using their own national currencies and the Chinese renminbi. This cuts the US dollar out of the cycle.
So why are the Chinese so eager to buy and import gold? Why make bilateral trade deals? Why don’t the Chinese want to use the dollar? Don’t the Chinese know that yellow metal is just a so-called ‘barbarous relic’ in the eyes of many Western economists and political gurus?
Recently, we had a stunning glimpse of how the highest levels of policymakers think in Beijing. Basically, top echelons in China are worried about the overall security of the US dollar and, by extension, China’s vast holdings of dollar-based assets.
We live in ‘alarming days,‘ according to an article this week in Xinhua, China’s absolute news agency of record – in that it represents the views of the ruling Communist Party.
Apparently, the Chinese chose an opportune time to float a trial balloon that we’ve been awaiting for quite some time. Communist Party leadership wants to get a sense of what the world thinks about taking down the US – and the almighty dollar – a few notches. As I said, buy gold and silver. Beat the rush.
Indeed, Xinhua minces no words: ‘The destinies of others are in the hands of a hypocritical nation,‘ meaning the US, of course. And that’s just the start. There’s more, and it plays out like a barbed-wire back rub.
Chinese editors at Xinhua come down hard on ‘cyclical stagnation in Washington‘ over the federal budget. The US government has repeatedly failed to bring spending and debt under control. This has, according to Xinhua, ‘left many nations’ tremendous dollar assets [China’s, certainly] in jeopardy and the international community highly agonized.‘
Overall, states Xinhua, the world has an American-made financial problem that must ‘be terminated‘. Wow. When Chinese communists use the word ‘terminated’, my instinct is to drop what I’m doing and clean my collection of assault rifles. That, and stock up on precious metals like gold, silver and…brass, if you know what I mean.
This China thing is not heading in a good direction for the US. Don’t take my word on it. Here are numerous other excerpts to ponder from Xinhua:
‘As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.‘
*****
‘With its seemingly unrivaled [sic] economic and military might, the United States has declared that it has vital national interests to protect in nearly every corner of the globe, and been habituated to meddling in the business of other countries and regions far away from its shores.‘
*****
‘Meanwhile, the U.S. government has gone to all lengths to appear before the world as the one that claims the moral high ground, yet covertly doing things that are as audacious as torturing prisoners of war, slaying civilians in drone attacks and spying on world leaders.‘
*****
‘A new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing… For starters, all nations need to hew to the basic principles of the international law, including respect for sovereignty and keeping hands off domestic affairs of others.‘
*****
‘Furthermore, the authority of the United Nations in handling global hot-spot issues has to be recognized. That means no one has the right to wage any form of military action against others without a U.N. mandate.‘
*****
‘Apart from that, the world’s financial system also has to embrace some substantial reforms.‘
*****
‘What may also be included as a key part of an effective reform is the introduction of a new international reserve currency that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.‘
*****
‘Of course, the purpose of promoting these changes is not to completely toss the United States aside, which is also impossible. Rather, it is to encourage Washington to play a much more constructive role in addressing global affairs.‘
Note that last item, about not ‘completely’ tossing the US aside. Gee, thanks…I think. Then again, the Chinese have reason to worry about US finances. China is the biggest foreign holder of US Treasury bonds, worth a total of $1.28 trillion according to public American data.
And note that second-to-last item about ‘a new international reserve currency‘ to replace the dollar.
In general, a commentary such as this in Xinhua means that powerful political factions in Beijing – Communist Party and/or military – hold the expressed opinions. Oft-times, a strong Xinhua piece means that the entire Chinese leadership holds the opinion and seeks to determine how it plays out around the world. (The news article has gone viral.)
Looking back, Chinese leadership has never been bashful about criticising the course and wisdom of US policy. Still, over many years, top Chinese echelons have usually limited severe criticism of the US to lower-level players – academics, midlevel ministers, retired military officers or well-regarded business people.
No senior Chinese agent has ever made a comprehensive, point-by-point refutation of the pillars of US policy, accompanied by the suggestion to rebuild the entire system of global trade and relations between nations. Until now.
This new ‘official’ Chinese commentary – from the top level – utterly deconstructs US policy in ways that go back to the end of the Cold War. Reading between the lines, one can see jabs at US policy as far back as Desert Shield and Desert Storm of 1990 and 1991. Or US intervention in the Balkans, and certainly bombing Serbia in 1999. The Middle East wars of the past decade – to include the Arab Spring coups and Libya takedown – are doubtless in the Chinese crosshairs as well.
US policymakers love to change labels on what they do from time to time, because it supports the myth that the nation is doing things differently under new presidents with ‘new ideas’, implemented by new stables of diplomats, generals and admirals. For example, the idea of so-called ‘nation building’ (at the point of a gun, some say) is now labelled ‘responsibility to protect’ (R2P). Either way, in Chinese eyes, it’s just garden-variety old US imperialism.
The Xinhua article criticizes how the US stakes out moral high ground to justify illegal detentions, summary executions by drones and torture of prisoners. At another point, the author claims that the so-called ‘Pax Americana’ is a subterfuge to foment instability, American meddling, wars and worldwide chaos justified by lies. No sugarcoating here.
Also implicit in the article is the idea that Chinese leaders are galled at the uncertainty of return on their trillion dollars and more of US bonds. Apparently, Chinese leaders are uncertain about the monetary security of US bonds, and they fear a massive loss of value over time.
There are several critical items to note here. The Xinhua article is the first in which senior Chinese players have dared go public with a bitter, sharp-edged denunciation of the US-managed international system.
The Xinhua article does not ‘just’ stop there, either. The authors label American policies as destructive moral failures. The article openly calls on other nations across the globe to restructure politics and economics. The next version of global economy will be a dramatic reduction in the role of the US and its dollar as the world reserve medium of exchange and measure of value.
The Chinese are clear that their eventual aim is to topple the US from its position of global leadership in most respects. The rhetoric betrays intense Chinese frustration with the US. Things have reached the boiling point. From the Chinese perspective, the US government is toxic for world business, while American military power is unleashed at political whim to promote global instability.
Now what? Well, we wait. Chinese leadership will let the Xinhua article have its day in the sun and then gauge whether other national leaders share these views. Stand by to see a flood of proposals from across the world about alternatives to US hegemony.
We’re looking at tough days ahead for the US position in the world. We’re fortunate to have the shale energy revolution going on and a rebirth in technology and manufacturing. But can this counter the chronic mismanagement of the country that comes out of Washington, DC? We’ll likely all live long enough to find out.
These are interesting times. Or as Xinhua states, ‘alarming days‘. Meanwhile, buy gold and silver.
Byron King
Contributing Editor, Money Morning
So in the end the US government debt debate gets resolved for another few months. Except nothing has really been resolved, mostly just delayed. Put an entry in your calendar for the same cycle to repeat around about January next year.
The other thing you should pencil in is the Port Phillip Publishing2014 conference, World War D: Money, War and Survival in the Digital Age. Put your email on the hotlist if you’re interested. You’ll be eligible for an early bird offer but with no obligation. There’s going to be a cracking line up of speakers. We’re not at liberty to say who just yet.
Speaking of money, it was interesting to hear currency expert Jim Rickards this week. Rickards, a gold bull, has long said the path of the US dollar is unsustainable. Therefor it will not be sustained. Nothing about the recent ‘resolution’ of the debt situation changes that at all…
As Rickards noted this week, the US debt, deficit and debt to GDP ratio are still going up. The debate was never about cutting US government spending, it was about the rate of increase. It was never a real government shutdown, either, just a temporary stop in the US ability to go deeper into debt.
One takeaway from the US political gridlock is that the future of the US dollar looks a bit dimmer in the eyes of the world. You’d think then that the future for gold would look brighter. But you wouldn’t know it by looking at the price. Editor Den Denning made his way north late this week to the 2013 Gold Symposium in Sydney.
He might’ve faced a more sceptical crowd than in previous years. Gold has a date with its first down year in 13 years since the beginning of the bull run that saw it go from US$250 to over US$1900. It’s currently trading around $US1300 but showing little sign of life.
Over at the Daily Reckoning last week, your editor pointed out the physical gold market is under some pressure. That’s because the largest market for gold is in India, and the government is trying to restrict gold sales to reduce the country’s trade deficit.
The Wall Street Journal reported that imports of the metal fell 90% in August and ‘the import curbs had ramifications beyond India’s borders and helped muzzle a large part of the global gold trade.’ According to the article, refiners and traders in Switzerland and Dubai are feeling the slowdown. In September the value of Indian gold imports dropped 82%.
Of course, these figures are based on official data. What nobody can really know is how much gold is smuggled in. The WSJ also noted that demand is starting to fire up as India moves into its festival season, usually a time for gold buying. But premiums are high and gold supply is short. That suggests the smugglers aren’t meeting the demand!
That’s the physical market. But there’s some odd trades going on in the paper market as well.
Robin Bromby in the Australian reported this week that last Friday a huge two million ounce sell order hit the exchange at the open. It was ‘an order so big it triggered an automatic 10-second trading interruption (and a $US30 an ounce fall in the metal’s price)…There was a huge order unloaded on October 1, too, and then we had that episode in April when, within two hours, 13.4 million ounces was unloaded through Comex. Someone is determined to knock the stuffing out of gold.‘
Whether any attempt to jerk the price around is just big money boys trying to work an edge or something larger, we don’t know. Mr Brumby suggests the Chinese won’t mind, because they’ll be able to buy up more.
Bullion buyers have the option to sit out the downside. That’s not a luxury afforded to mining companies. They need money coming in. Greg Canavan, editor of Sound Money Sound Investments, has been running the ruler over the gold miners. With gold at these prices, many gold miners will not only be not making money, they may not even have positive cash flow. Greg highlighted this research from UK company Hinde Capital this week:
’From an investor’s perspective it is a treacherous minefield… While the big caps that make up the GDX index are unlikely to go out of business in the short term and may offer some trading opportunities for a bounce here, the very nature of this desperate business remains. Huge capital is required a long time before there is even the sniff of future cash flow. All companies can go to zero but mining companies get there much faster than most.‘
Hinde’s research shows 109 global mining companies have suffered falls of 90% or more from the peak, with another 58 not far behind, down 80-90%. That’s shows you how savage this bear market has been. Their take is that gold bullion is an attractive proposition at the current price, but forget the miners for now. That sounds like something Jim Rickards would agree with. Stay tuned.
Callum Newman+
Editor, Money Weekend
From the Port Phillip Publishing Library
Special Report: UNAVOIDABLE: Australia’s First Recession in 22 Years
Article by Investazor.com
Last week the United States have avoided a default with several hours before the deadline. Because the government shutdown a lot of institutions did not work and the economic calendar suffered modifications and some of the usual indicators were not published. One of the most important is the Non-Farm Payrolls which should have been published in the first Friday of this month.
Next week’s calendar looks something like this:
Date | Currency | Impact | Forecast | Previous | |
MonOct 21 | JPY | Trade Balance | -1.06T | -0.79T | |
EUR | German PPI m/m | 0.10% | -0.10% | ||
EUR | German Buba Monthly Report | ||||
USD | FOMC Member Evans Speaks | ||||
CAD | Wholesale Sales m/m | 0.60% | 1.50% | ||
USD | Existing Home Sales | 5.31M | 5.48M | ||
USD | Crude Oil Inventories | 3.4M | 6.8M | ||
TueOct 22 | GBP | MPC Member Bean Speaks | |||
GBP | Public Sector Net Borrowing | 10.4B | 11.5B | ||
CAD | Core Retail Sales m/m | 0.20% | 1.00% | ||
CAD | Retail Sales m/m | 0.30% | 0.60% | ||
USD | Non-Farm Employment Change | 179K | 169K | ||
USD | Unemployment Rate | 7.30% | 7.30% | ||
USD | Average Hourly Earnings m/m | 0.20% | 0.20% | ||
WedOct 23 | AUD | CB Leading Index m/m | 0.30% | ||
AUD | CPI q/q | 0.80% | 0.40% | ||
AUD | Trimmed Mean CPI q/q | 0.70% | 0.50% | ||
GBP | MPC Asset Purchase Facility Votes | 0-0-9 | 0-0-9 | ||
GBP | MPC Official Bank Rate Votes | 0-0-9 | 0-0-9 | ||
GBP | BBA Mortgage Approvals | 39.4K | 38.2K | ||
USD | Import Prices m/m | 0.30% | 0.00% | ||
EUR | Belgian NBB Business Climate | -4.1 | -6.7 | ||
CAD | BOC Rate Statement | ||||
CAD | Overnight Rate | 1.00% | 1.00% | ||
CAD | BOC Monetary Policy Report | ||||
USD | Crude Oil Inventories | ||||
CAD | BOC Press Conference | ||||
ThuOct 24 | NZD | Trade Balance | -677M | -1191M | |
CNY | HSBC Flash Manufacturing PMI | 50.5 | 50.2 | ||
AUD | RBA Deputy Gov Lowe Speaks | ||||
EUR | French Flash Manufacturing PMI | 50.3 | 49.8 | ||
EUR | French Flash Services PMI | 51.2 | 51 | ||
EUR | Spanish Unemployment Rate | 26.10% | 26.30% | ||
EUR | German Flash Manufacturing PMI | 51.6 | 51.1 | ||
EUR | German Flash Services PMI | 53.8 | 53.7 | ||
EUR | Flash Manufacturing PMI | 51.4 | 51.1 | ||
EUR | Flash Services PMI | 52.3 | 52.2 | ||
GBP | CBI Industrial Order Expectations | 10 | 9 | ||
USD | Unemployment Claims | 341K | 358K | ||
USD | Flash Manufacturing PMI | 52.8 | 52.8 | ||
USD | New Home Sales | 427K | 421K | ||
USD | JOLTS Job Openings | 3.77M | 3.69M | ||
GBP | BOE Gov Carney Speaks | ||||
FriOct 25 | JPY | Tokyo Core CPI y/y | 0.40% | 0.20% | |
EUR | German Ifo Business Climate | 108.2 | 107.7 | ||
EUR | M3 Money Supply y/y | 2.30% | 2.30% | ||
GBP | Prelim GDP q/q | 0.80% | 0.70% | ||
USD | Core Durable Goods Orders m/m | 0.60% | -0.10% | ||
USD | Durable Goods Orders m/m | 1.70% | 0.10% | ||
USD | Revised UoM Consumer Sentiment | 75.3 | 75.2 |
As you can see next week for the United States there are the following indicators scheduled to be published: On Monday Existing Home Sales and Crude Oil Invetories; Tuesday Non-Farm Payrolls and Unemployment Rate; Wednesday again Crude Oil Invetories; Thursday the Unemployment Claims and New Home Sales and Friday the Core Durable Goods Orders.
But that is not all. In the calendar there can also be found the Manufacturing PMIs for Germany and China, also the Monetary Policy Meeting for Canada and the German Ifo Business Climate.
The post What to Expect for next Week from the Forex Market appeared first on investazor.com.
We’ve put forward a number of key technology predictions in the past about what we think the future might look like. Two of these are the rise of wearable technology and immersive technology.
And for some time we’ve been looking forward to the release of wearable tech, particularly in the form of Qualcomm’s Toq, Google Glass, MYO Armband and Interaxon’s Muse.
Most of these wearable technologies are complimentary to your smartphone. And that leads us to the question, what innovation is happening with smartphones at the moment? Well the answer to that is, ‘Not much.’
It seems as though smartphones may have reached an evolutionary cliff face. Apple has a crack at smartphone innovation with a fingerprint reader…a bit too 2000′s tech for us. Samsung also gave it their all with eye tracking…which isn’t so fun if you’ve got a lazy eye or wearing sunglasses. It also seems as though most of the smartphone makers released a smartphone, then a slightly bigger one, an L and an XL version. In other words, innovation came in size.
Sure there are faster processers and more megapixels per square fairy dust. Maybe it’s not just apple that’s put a freeze on phone innovation. It’s kind of pathetic too that HTC have put a fingerprint reader in their new One Max phone. If there’s ever a company on the verge of also doing a ‘Nokia’ and ‘Blackberry’ it’s HTC. ‘Abandon ship!’
Anyway, to further prove the point that all manufacturers have stopped being truly innovative with the smartphone, have a look at LG and Samsung’s latest offerings, the G Flex (LG) and Galaxy Round (Samsung).
Both of these phones are…wait for it…curved. And to think we’re suggesting innovation is dead in smartphones? Actually that’s exactly what we’re saying.
Let me clarify for you the benefit to you of a curved screen vs. a flat one. None. If you’ve got short fingers, maybe it’ll help. But it won’t help your jeans pockets. It certainly won’t help your existing accessories. And it most definitely won’t help your bank balance.
Wearable tech is in the early stages of development. But over the next couple of years, you’ll start to see further integration of phone features in everything that’s not a phone.
So right now, this points in one direction. The end of the mobile phone. Yep from what I can see the smartphone, mobile phone, whatever you want to call it, is dead.
As we watch the rise of wearable tech we’ll start to find our phones pointless and frustrating. Soon enough sales will slide, and the new era of communication devices will be upon us.
But for nostalgia’s sake I’ll hold onto my N73, Razr V3 and Galaxy S2 so one day I can say to the grandkids, ‘Back in my day we used to use these things to call each other.’
I like American Football. In fact I like it so much that a couple of years ago I even played a season in Melbourne. Our team went on to win the VicBowl championship that year.
I retired after my first season due to other time commitments. But had I the information I have now, I might have retired earlier due to health reasons.
The allure of American Football is the bone crunching hits players take. The NFL is a serial offender in using these ‘hits’ in their promotional material for games. Fans live for the big hits. However it often results in horrific injuries for the players involved.
And for the players of this wonderful game, they’ve had enough of suffering well past the time when they retire. Joint and muscle injuries are part and parcel for any high impact, elite level sport. But in the NFL’s case the big issue at play here is the mental health of players.
In fact this issue is so relevant that 4,500 retired players brought a court case against the NFL. The players and the NFL recently settled out of court for US$765 million. It was alleged the NFL misled players about the dangers of head impacts received while playing games.
Research has just come out that supports the players. The study looked at 12 retired NFL players and 60 normal people selected from the San Diego area. It compared their brain function across a number of tests.
In short, the test proved that the NFL players were indeed suffering from cognitive impairment. The study even went so far to say,
‘Whilst none of the NFL alumni tested here had previously been diagnosed with a cognitive impairment…many of them reported they were experiencing distressing cognitive problems in everyday life.‘
‘Thus while they are not classified as patients based on behavioural assessments, we would suggest that they should be based on the conjunction of evidence from previous post-mortem studies, the self report of real life executive problems, and the observation of pronounced functional brain abnormalities…‘
The mounting evidence of brain injuries to players is damming against the NFL. I for one would expect a raft of safety changes and rules over the coming years as a result of this issue.
Unless there’s significant change to the safety afforded to players, the game might struggle to exist. They say you can’t have a game without the fans. Try running a game without the players…
So hopefully new technologies will find their way into the game to help keep players safe. Both in the short term and over the long term.
‘Checklight‘ is one of those technologies. A joint program between Reebok and MC10, it’s a skullcap designed to provide a visual warning when a payer receives a heavy knock to the head.
‘Checklight’ is just one example of innovative private companies looking to preserve the health of players. X2 Biosystems is another that uses impact sensors to monitor players. Add to that list helmet maker Riddell, Verizon and even Intel all with sensors and monitors designed to provide data and information in real-time about players’ health.
Let’s hope some of these technologies become mandatory, for the longevity of both the players and the game.
Alternative forms of transport are important for a greener world. But it’s hard to wean off our dependence on cars. You see, cars don’t just provide an effortless form of transport, but they can also keep you warm or dry, and typically when you arrive at your destination you’re not dripping with sweat.
That’s why people will tend to use a car, motorbike or scooter for longer distance travel. Of course there are electric bikes, but they typically are hefty contraptions that simply don’t have the style to fit the substance.
I’m sure if there were a better way to electrify a bike more people would use them. It would mean being able to rock up to work in the same clothes you left home in without the huffing, puffing and resultant sweating.
The FlyKly is a new kickstarter project that aims to make any bike as effortless as a scooter. It kind of looks like a small cushion on your rear wheel. It fits on like any normal wheel, and is activated by the most minimal pedaling effort. It’s also integrated with its own app to help you control the speed and power.
As you ride, the wheel starts up. It means you can pedal with barely any effort. Not only will it help you up hills and along the flats but also it recharges when heading downhill.
It’s basically the easiest and best way I’ve seen to electrify a bike and make riding easier. Particularly when you want to avoid the bike sweats.
Sam Volkering
Technology Analyst, Revolutionary Tech Investor
By www.CentralBankNews.info Serbia’s central bank cut its policy rate by 50 basis points to 10.5 percent, its third rate cut this year, saying inflationary pressures are expected to continue to ease while inflation expectations have fallen to their lowest on record which should help maintain inflation within the bank’s target band.
Serbia’s inflation rate fell to 4.9 percent in September, the first time in 15 months that inflation fell below the central bank’s upper limit of 6.0 percent, stoking expectations that the central bank may cut rates today. In August the bank had also said it would consider cutting rates if external risks subsided and the government were to cut spending.
The bank targets inflation of 4.5 percent, plus/minus 1.5 percentage points and raised rates by 150 basis points in 2012 and then by 50 basis points in January and February. It then froze rates in March and April but encouraged by a fall in inflation, it cut rates in May by 50 basis points and by a further 25 basis points in June for total cuts this year of 75 basis points.
The bank said the key contribution for inflation to return to the target range was from past monetary tightening, the fall in agricultural commodity prices, the relatively stability of the dinar and low aggregate demand.
“Looking ahead, these factors will continue to moderate inflationary pressures and will help maintain inflation within the target band,” the bank said, adding that inflation expectations had fallen to their lowest level on record and are expected to stabilize within the band in the foreseeable future.
The central bank said its decision to cut rates was also influenced by reduced fiscal risks following the government’s announcement of fiscal consolidation measures, which together with low demand, “will serve as a strong disinflationary factor in the next year as well.”
A proposed VAT increase will generate a one-off, “weaker direct and indirect effects on inflation,” the central bank added.
Another development paving the way for the rate cut was expectations of “positive trends in international financial markets as a result of the US budget deal,” the bank said.
www.CentralBankNews.info
Crude Oil futures were seen in green on Friday, moving higher from the previous session’s losses, assisted by the positive news that China’s economy grew at a faster pace this year in the third quarter.
The West Texas Intermediate (WTI) advanced 0.20% higher to $100.88 a barrel, while the European benchmark crude Brent gained 0.12% to $109.25 a barrel, at the time of writing.
The world second largest oil consumer, advanced an annualized 7.8% in the three months from July to September, a report from the National Bureau of Statistics (NBS) confirmed. Growing from the previous reading of 7.5% in the second quarter and 7.7% in the first quarter.
The climb in the national-railway investment and tax breaks for small companies provided the boost for the economy in the third quarter.
The Chinese government’s growth target is expected to rise to 7.5% this year. China accounts for approximately 11% of the global oil demand last year, while US accounts for 21%, reports from BP’s Statistical Review of World Energy confirmed.
“We preview our expectations for 3Q13 results for the North American integrated oils and major producers, with reporting scheduled to begin on October 24. Sequentially, we forecast an 8% increase in earnings for the integrated oils and major producers, relative to 2Q13 results, and a 9% increase relative to year-ago levels,” analysts from JPMorgan wrote in a note.
Analysts also said that the positive crude prices are likely to boost earnings, compensating the weak refining margins.
Libya’s oil production increased from 100,000 barrels per day to 263,000 barrels per day after the country reopened its pipeline on Thursday.
The US crude stocks increased by 5.9 million barrels in the week ending October 11, reports from the American Petroleum Institute confirmed. Gasoline stockpiles dropped 2.2 million barrels, while distillate supplies declined 1.3 million barrels.
The supply data from the Energy Information Administration was not released due to the partial government shutdown.
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Google released its financial report for the third quarter on Thursday, showing a rise of 36.2% in profits, driven by the boosted profits through advertising.
Google shares advanced 8% to a new record high, just below the $1,000 barrier by $40. With the three-month period ending September 30, the Internet search giant company reached a net income of $2.97 billion in the third quarter, up from $2.18 billion recorded in the previous year. Earnings per share reached $8.75 on 339 million diluted shares outstanding rising from last year record of $6.53 on 333 million diluted shares outstanding.
Google sites revenues edged 22% higher to $9.39 billion, paid clicks climbed to approximately 26% year-on-year and 8% higher over the second quarter.
However the average cost-per click edged 8% lower from the same period a year ago and approximately 4% over the second quarter this year.
“Google had another strong quarter with $14.9 billion in revenue and great product progress,” said CEO Larry Page. “We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device,” he added.
Approximately 40% of the traffic that leads to YouTube, occurs on mobile devices, Larry Page commented.
Motorola mobile segment revenue (which was bought by Google in 2011) recorded a drop of $248 million of Motorola in the third quarter, compared to the previous record of a 192 million loss or -11% of Motorola Mobile segment revenues in the third quarter in the previous year.
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London Gold Market Report
from Adrian Ash
BullionVault
Fri 18 Oct 08:25 EST
WHOLESALE prices for physical gold held near $1320 per ounce this morning in London, gaining 3.5% from last Friday after the mid-week US debt-limit deal saw what one dealer called “heavy short covering and some fresh buying.”
US Treasury yields fell sharply as prices recovered further on Friday. World stock markets rose to 5-year highs.
Silver bullion traded in London meantime fell back from another attempt at $22 per ounce, trading 2.5% up for the week.
“The whole [debt limit] mess is just being postponed by 3-4 months,” says Commerzbank analyst Carsten Fritsch.
“[This] makes a reduction of Fed asset purchases rather unlikely for the time being,” encouraging fresh gold investment as the US central bank continues its quantitative easing of $85 billion per month.
Thursday’s jump in gold was “one of [its] most convincing moves to the upside of recent weeks” says Edward Meir at INTL FC Stone.
“[But] the precious metal still needs to do more work before some of the technical damage is repaired.”
So-called “gold shorts” who were positioned to profit if gold fell had to close their bets fast as the metal jumped this week, says Societe Generale analyst Robin Bhar
“We [had also] worked on the basis that gold price action was bearish, and that if we didn’t have a debt default, gold would fall.
“There were probably lots of shorts in the market…All of those guys have been wrongfooted, and have had to cover.”
On the other side of the trade, however, “Gold is failing to attract new longs [ie, bullish positions] in the futures market,” says Walter de Wet at Standard Bank, “which is an ongoing concern.
“Furthermore, the risk of more Exchange Traded Fund liquidation must have increased now that uncertainty around a US default has eased.”
The giant SPDR Gold Trust – the world’s largest gold ETF, listed in New York (ticker: GLD) – yesterday shed metal from the gold backing its shares for the 11th time in 20 sessions, taking its total allocation to 882 tonnes, the lowest level since February 2009.
The GLD last added metal one month ago. It has since shed 30 tonnes as shareholders liquidated positions.
Meantime in India, where gold today held $100 above London benchmark on a continued shortage of metal, new data showed exports of gold jewellery rising 16.5% by value to $654 million in September.
Thanks to a collapse in gold imports, however – caused by the government’s anti-gold rules and duty hikes – the industry has seen jewelry exports fall 60% over the last half-year compared with April-Sept. in 2012.
The Economic Times of India said today that HSBC is closing its retail investor stock brokerage in the country, at the cost of 300 jobs. The bank cited a shift by private investors to equity derivatives trading, as well as a preference for gold investing and real estate over stocks.
“With inflation still elevated in many markets and interest rates not offering adequate compensation,” says a separate report from HSBC economists, “[we] expect Asia’s voracious appetite for gold to persist.
“Asia is going for gold. Over recent years, demand has soared.”
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Adrian Ash is head of research at BullionVault, the secure, low-cost gold and silver market for private investors online, where you can fully allocated bullion already vaulted in your choice of London, New York, Singapore, Toronto or Zurich for just 0.5% commission.
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