S&P 500 INDEX, SPX – PRICE OUTLOOK:
Improving market breadth points to further gains in the S&P 500 index in the coming weeks as the earnings season picks up steam. As of Monday, slightly over 83% of the members in the S&P 500 index were above their respective 10-week moving average (WMA). Data from 1996 onwards suggests that when 83%-84% of the […]
Euro, EUR/USD, US Dollar, Yellen, China, ECB, Nagel, Fed, FOMC, RBA – Talking Points
The Euro made a fresh 17-month peak against the US Dollar on Tuesday as the bullish run continues for the single currency. The move above 1.1250 comes as the market prepares for an easing in tomorrow’s Euro-wide CPI with a Bloomberg survey of economists estimating a final reading of 5.5% year-on-year to the end of June. The European Central […]
Sentiment Awaiting Cues from Key US Earnings Releases Ahead
Market Recap Wall Street started the new trading week on a positive footing, as risk appetite rose ahead of several key earnings releases this week, single-handedly uplifted by the technology (+1.3%) and financial (+1.0%) sectors. A surprise expansion in the New York Empire State Manufacturing Index (1.1 versus -4.3%) overnight added to the list of positive […]
Crude Oil Price Rolls Over on China Growth Woes and Libya Re-open.
Crude oil prices continued to retreat from the 3-month peak seen last week on a soft economic outlook for China and easing political tensions in Libya, potentially lifting production capacity. The WTI front futures contract touched US$ 77.33 bbl last Thursday before tumbling into the weekend and continuing lower to start this week, trading below US$ 74 […]
Dollar continues to weaken; end of FOMC tightening in sight
At 02:55 ET (06:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 99.415, just above the 99.362 level seen earlier Tuesday, its lowest since April 2022. The U.S. central bank is widely expected to lift interest rates once more when it meets next week, but markets are […]
Asia FX muted as China woes weigh, U.S. retail sales awaited
Most Asian currencies kept to a tight range on Tuesday as concerns over slowing economic growth in China continued to weigh, with focus turning to more upcoming cues on the U.S. economy and monetary policy. The dollar languished near 15-month lows, as weak inflation readings saw markets pricing in potentially fewer interest rate hikes by the Federal […]
FTSE 100 analysis: Ocado shares jump on surprise positive Ebitda – Top UK stocks
FTSE 100 is muted The FTSE 100 is trading 2.9 points higher this morning. The economic calendar includes Canadian inflation data this afternoon, followed by US retail sales, industrial production and the NAHB housing market index. There are also speeches from the Federal Reserve’s Michael Barr and Michael Gibson later in the day. US earnings will also […]
Gold, FTSE 100 Analysis: European open – 18th July 2023
Asian Indices: Australia’s ASX 200 index fell by -19.8 points (-0.27%) and currently trades at 7,278.70 Japan’s Nikkei 225 index has risen by 69.66 points (0.22%) and currently trades at 32,461.24 Hong Kong’s Hang Seng index has fallen by -382.41 points (-1.97%) and currently trades at 19,031.37 China’s A50 Index has fallen by -44.57 points […]
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