Nick Batsford, CEO of Tip TV, was joined by Zak Mir, technical analyst for ShareProphets.com, to open the Tip TV Finance Show on the 15th October 2015 to discuss US CPI data, HSBC, US spending despite low petrol prices, as well as a stock outlook.
Retail sales increases by just 0.1% in the US
Batsford highlighted Elliott, who noted that for months we have been told that cheap petrol will tempt us to splash out elsewhere; well it’s simply not happening in the US. Overall September retail sales increased by just 0.1% from August and 2.4% from a year ago. Most of the increase was concentrated in the purchase of new cars and food services (including bars), so excluding these they actually dipped by 0.1%. This and a profit warning sent the biggest US retailer Wal-Mart’s shares spiralling down by 10% yesterday.
US CPI on cards, GBP/USD at key resistance
Batsford continued to FX Street, who outlined that the expected value for US CPI is -0.1%, down from the previous 0.2%. Meanwhile, Core CPI is expected a 1.8% after also previously being 1.8%. They continued that Fed March rate hike bets are on the verge of getting erased, whilst the USD is getting smoked after dismal retail sales.
On the GBPUSD, they commented that it is bullish above 1.5484 (100-DMA and channel resistance).
Stock Outlook
Mir believed the 50-DMA on Tullow Oil is the dividing line for the share price, with a target towards the 200-DMA at 320.
In terms of Burberry, Mir commented that the shares are down significantly and are a barometer of the China situation. He identifies a new leg to the downside with a target of 1180.
Mir continued to Unilever, and outlined that its share price is rising like a commodity stock, recently it broke the 50-DMA and gapped above the 200-DMA, therefore he concluded a target towards £30.
Watch the video to see more analysis on WH Smiths, SML, ORE, BLX, BT.A, DEB and DGE.
HSBC staff salary slash
Batsford outlined Elliott once again, who highlighted that the Times reports that HSBC London investment banking staff saw tier salaries slashed by 10% and were ordered to take two weeks unpaid leave by Christmas. Another version of deflation?
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