In January 2024, at long last, multiple Bitcoin ETFs were approved by the US Securities and Exchange Commission. It’s been called the most significant move in Bitcoin history since its inception. The floodgates finally opened for institutional investors…and then, nothing happened. Their lackluster response was a huge shock to the crypto community, but not to all...
Fundamentals The Dollar index showed resilience, settling around 103.3 after paring recent gains, following robust S&P Global manufacturing and services PMIs, signalling robust US business activity. S&P Global US Composite PMI surged to 52.3 in January 2024, showcasing a robust increase from the previous month and signalling the most rapid rise in...
The decline in gold prices on Monday was attributed to fading hopes of a March interest rate cut by the Federal Reserve, leading to a 0.4% drop in spot gold prices. The market is now adjusting its optimism about rate cuts, with a 48% chance of a rate cut in March according to the CME Fed Watch Tool. This is down from almost 77% chance last week and is a strong...
Growth outlooks in China and Europe continue to weigh on crude oil prices as well as geopolitical tensions and recent attacks on oil facilities in Russia. The disruption of global trade has tightened crude markets and led to a perception of tighter supply for prompt delivery, reflected in the widening premium of the first-month Brent contract to the six-month...
The current week in the financial markets has supported the US dollar, as bond traders have pressured treasury bonds on Wednesday, mostly at the short end of the curve. The sell-off in the bond markets reflected some change in expectations about the possible rate cut for the US in March: probabilities of an interest rate decline dropped below 60%, so expectations...
The publication of US inflation was surprisingly strong: the US CPI index had advanced to 3.4% - the highest value within three months. The biggest price hike was associated with services, and energy prices have displayed an uptick for the first time since September 2023. The reaction of markets was nervous: tech stock had plummeted, though this drop was later...
The euro’s gain against the pound has been stronger so far this week compared to the US dollar. One of the main factors in focus is that it’s not clear when or even whether the ECB will start to cut rates this year, while the BoE and the Fed are nearly certain and very likely to cut at least once each before the end of the second quarter. However, expectations for...
Shares of Netflix, Inc. (symbol ‘NFLX’) had an exponential growth in the last quarter fo the year and managed to rise by around 30%. The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday 23rd of January, after market close. The consensus EPS is $2.20, against $0.12 of the same quarter last year. ‘ The...
The British job report for December on 16 January was generally weak and drove the pound down in most of its pairs. Claimant count change was 11,700 against the approximately 3,000 expected. While total average earnings for November were weaker than expected at 6.5%, this is still a big annual change and suggests the persistence of inflation in the UK over the...
Microsoft Corporation (symbol ‘MSFT’) share price experienced some gains in the last quarter of the year with the majority of the bullish rally happening in November. The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday 23rd of January. The consensus EPS is $2.75 against $2.32 of the same quarter last...
As the Bitcoin market teeters on the edge of a pivotal moment, everyone's asking: Can the cryptocurrency reclaim its glorious Bitcoin gains highs or is a Bitcoin correction lurking around the corner? Join us as we explore the tantalizing prospect of Bitcoin gains possibly resuming and the factors that could kick start another rally. What influences the price of...
NVDA had emerged from a large trading range, boosting the momentum ahead of the earnings season. With earnings to be published in February, NVDA might enter the “pre-earnings” rally. The estimated earnings-per-share of 4.15 drives momentum trading. AI narrative has been the strongest driving force behind tech stocks so far, and this trend has a chance to continue...
TA normally considers a trend to be active until there’s evidence that it has ended, so further losses seem to be possible for oil in the medium term. However, the price recently made a higher low and doesn’t show any sign of buying or selling saturation. The main dynamic resistance in the short term which might cap gains is the 50 SMA around $80, also a...
Bank of America Corporation (symbol ‘BAC’) share price rose by around 22% in the last quarter of the year and managed to cover the losses incurred in the previous quarter. The company is expected to report its earnings for the fiscal quarter ending December 2023 on Friday 12th of January before market open. The consensus EPS for the quarter is $0.68 compared to...
Shares in JP Morgan Chase and Co (symbol ‘JPM’) had a rather aggressive bullish rally beginning in late October and managed to gain around 20% in just 2 months. JPM is expected to release its earnings report for the quarter ending December 2023 on Friday 12 January, before market open. The consensus estimate for earnings per share is $3.64 compared to the result...
Gold prices rose today due to a weaker dollar as seen on the Dollar Index (DXY) and lower Treasury yields. Traders are looking to U.S. economic data of this week for clues on the Federal Reserve's monetary policy outlook. Benchmark U.S. 10-year bond yields remained near a five-month low ,around 3.87% at the time of this report being written, while the dollar was...
Shares of BlackBerry Ltd (symbol ‘BB’) experienced heavy losses in the last quarter declining by around 35%. The company’s earnings report for the fiscal quarter ending November 2023 is expected to be released on Wednesday 20th of December, after market close. The consensus EPS is $-0.03 against $-0.06 of the same quarter last year. ‘ The company’s poor...
Nike, Inc. (symbol ‘NKE’) Nike, Inc. (symbol ‘NKE’) share price experienced profits in the last quarter and rose about 8%. The company’s earnings report for the fiscal quarter ending November 2023 is expected to be released on Thursday 21st of December, after market close. The consensus EPS is $0.84 against $0.85 of the same quarter last year. ‘The exponential...