04-14-2016, 01:21 PM
Some interesting tidbits..
"A strengthening yen signifies risk aversion ... generally when you see the yen strengthen that indicates that global equities are rolling over or about to roll over," Todd Gordon said in a recent CNBC "Trading Nation" interview. The Japanese currency has been on a tear of late, hitting a 17-month high versus the dollar on Monday. The yen and equities have an inverse trading relationship, when the currency rises, it usually corresponds with a dip in stocks.
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One look at the companies that made the new-high list last week, and Cramer saw a common thread. The list included Estee Lauder (NYSE: EL), Kimberly-Clark (NYSE: KMB), Coca-Cola (NYSE: KO), Church & Dwight (NYSE: CHD), Altria (NYSE: MO), PepsiCo (NYSE: PEP), Tyson (NYSE: TSN), ConAgra (NYSE: CAG), Constellation Brands (NYSE: STZ), General Mills (NYSE: GIS) and McCormick (NYSE: MKC). What do all of these companies have in common? They take raw commodities and refine, package and sell them. The concentration of these consumer-package plays told Cramer four things: First, raw costs are calm and behaved. Second, all packaging must be going down in price. Third, distribution costs are at a big low, thanks to oil and gas. And finally, the dollar has peaked versus currencies of trading partners, which means these companies could do quite well in the second half.
Cramer: Signs an earnings explosion is coming - Yahoo Finance
However, some think the dollar is going to rise again:
A Bank of America Merrill Lynch strategist on Wednesday predicted that the next big move in the currency market will be a resumption of the U.S. dollar’s rally as the Federal Reserve shifts to a hawkish outlook.
Bank of America thinks this will be the next big move in currency markets - MarketWatch