... after what was another upsetting weekend in the city, sadly, no surprises!!! Elections now taking centre stage in UK alongside Saudi/Qatar relations.
We'll wrap up the macro details in a few as I will be publishing 2 setups on EURGBP for those wishing to take part these will include references to the interpretation/context of recent numbers and politics....
Another brilliant day across the currency board; exhaustion legs in sterling and Euro to see us through for the summer. Now focus shifting over to /CL, with OPEC keeping prices in current range and Canada's Q1 GDP prints being v.good this is a good opportunity to look for buys on a pullback .
Tracking 1.33xx - 1.34xx like a hawk where I will look for a move...
Another biotech to add to our basket. I'm bullish on gild after a weak few months, 7x earnings excluding r&d with the fortress HIV providing most of cash flow.
Large cap with almost 100% upside
All the best.
After a nice deal with SGEN last week the EV is 400m this is likely as high as it will ever get. Awful pipeline with sacituzumab (an archaic chemotherapy style) we should see this move back to sub 3 in the near term before a further push to 2.30.
Time will tell!
Guys...
Above 1.0711 we can see a near term base for a recovery bak to 1.0726. Beyond 1.0771 is needed to mark further downside.
EURCHF below 1.0711 can keep the immediate risk lower for the June 2016 spike and 61.8% retracement of the April-15/February-16 rally at 1.0623/04.
Below here is needed to mark a more important top for 1.0445/40.
The SNB may also...
