Monday, 21 September 2015

Samurai Summary: Top Tweets 21/09/2015

In a stunning turn of events, Alexis Tsipras has hit back at his critics by comfortably securing victory in Greece's Sunday election. It would seem that Greek voters are being sympathetic to Mr Tsipras cause as he cleared his third major hurdle in less than a year.  However the victory doesn't come without it's own problems as his party Syriza have suffered huge defections of party members who feel that Mr Tsipras handled  the Greek debt deal made with EU partners very badly by conceding to tougher austerity measures to be imposed on the ailing nation.

The downfall of Toyota in the US came not so long ago when huge scandal broke surrounding a defect in the accelerator cable which the company choose to ignore but ultimately cost lives and damaged the company's reputation. In a similar case, Volkswagen AG said on Friday that it had been deceitful when it's car went for emission tests and altered results by programming software to run only when the tests were taking place not reflecting the true details.

Shares in the company tumbled 17% on the news of a barrage of possible fines and litigation against the company who has been trying to regain lost market share within the US car market.
I've been noting the amount of charts going around and one in particular is the USDJPY due to it's correlated properties to equities. The general idea is, the higher the USDJPY goes the higher equities go. However the general concern around at the moment is without the backing of QE to support the market, equities are looking much weaker which could signal a protracted downturn in the medium term.  Obviously we are at the top of waning looking charts that have produced 3 years of good return so any significant pullback would naturally be in order. Something to follow closely.

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