Gold is moving closer to the psychological level of $2000, consolidating below this level. Should it test the border of a current chart formation, it may decline lower as shown at the chart, as markets might get some support from Jerome Powell’s press-conference next week.
HK50 is moving downward, heading to the $16800 level, the intermediate-term support level. The price may retest this level ahead of FOMC interest, after which it may rebound higher.
Shares of Taiwan Semiconductor Manufacturing Company Limited (symbol ‘TSM’) have incurred losses of around 17% through the last quarter. The company’s earnings report for the fiscal quarter ending September 2023 is expected to be released on Thursday 12th of October. The consensus EPS is $1.15, against $1.79 of the same quarter last year. ‘ Despite the recent...
PepsiCo, Inc. (symbol ‘PEP’) share price declined by around 6% in the third quarter of the month. The company’s earnings report for the fiscal quarter ending September 2023 is expected to be released on Tuesday 10th of October, before market open. The consensus EPS is $2.18, up from $1.97 in the same quarter last year. ‘As of 30/06/2023 the company’s financials...
Gold prices remained stable on Monday as investors analyzed the U.S. Federal Reserve's decision to signal potential future interest rate hikes. The lack of demand for gold is evident in the falling holdings of global gold exchange-traded funds while higher interest rates and yields are putting pressure on the precious metal. The dollar is at a six-month high, and...
Oil prices rose on Monday as investors were optimistic about a tighter supply outlook following a temporary ban on fuel exports issued by Moscow. The market is still cautious about potential rate hikes by the Fed that could affect demand, however there was a three-week rally on the price thanks to Saudi Arabia and Russia extending production cuts until the end of...
Costco Wholesale Corporation (symbol ‘COST’) share price rose by 6% in the quarter ended on 31/08/2023 in a rather steady bullish momentum. The company’s earnings report for the fiscal quarter ending August 2023 is expected to be released on Tuesday 26th of September, after market close. The consensus EPS is $4.71, up from $4.20 in the same quarter last year....
The dollar has held steady or advanced slightly in most of its pairs after the Fed kept the funds rate at 5.25-5.5% on Wednesday 20 September as expected. The main new information for traders from the press conference was the hint of one more hike by the end of the year, something which isn’t currently priced in. This article summarises the situation for monetary...
Euro-dollar reached a nine-month low last week amid the relative hawkishness from the Fed, growing likelihood that the ECB might pause hiking and lacklustre PMI from the eurozone. Philip Lane, the ECB’s Chief Economist, specifically commented that pressure on inflation from pay hikes is starting to subside. Euro-dollar’s downtrend is clearly still active but...
Gold’s volatility was around the average for a meeting of the Fed because the result was more-or-less a foregone conclusion, although traders do seem to be taking more seriously the chances of a hike in the fourth quarter. The yellow metal has generally faced headwinds this quarter as economic projections became less gloomy. Even though the tightening cycle...
This week, financial markets have been waiting for the FED’s decision and the press conference of Jerome Powell. The interest rate was left unchanged, just as most market participants expected. FED’s chief again stressed the importance of price stability and justified the restrictive monetary policy. As a result, stock indices plummeted along with Crude oil and...
Crude oil has corrected from this week’s peak. If it gains bearish momentum, it can achieve a level of a previous consolidation at around $86, after which it may switch to the rising leg of a trading range.
Gold had corrected from this week’s peak, however it starts to show signs of resilience and participation of stronger buyers. It’s possible to observe a pullback from the support area as shown at the chart.
Exxon Mobil in focus this week amid strength of Crude oil and increasing bullish sentiment for energy assets. Technically, it might break the 119.50 level: should this happen, bullish momentum can accelerate. The main event in focus: FED's decision and a press-conference of Jerome Powell.
Shares of Nike, Inc. (symbol ‘NKE’) have managed to have an overall balanced performance throughout the quarter but have declined around 7% since the beginning of the month. The company’s earnings report for the fiscal quarter ending August 2023 is due for release on Thursday 28th of September , after market close. The consensus EPS is $0.73, against $0.93 of the...
Tesla is in focus after the 10% jump last week. A lift in the rating of the company in combination with the revival of the technology sector ETF as well as the volatility index in historically low levels are all considered somewhat bullish data for the company's share price. Investors and traders will be monitoring US inflation data later this week.
This week in markets started with higher activity as oil continued its recent strong gains and gold’s recovery also seemed to be gathering pace. The dollar was near six-month highs while Asian and European shares were mostly more cautious. This preview of weekly data looks at XAUUSD and GBPUSD ahead of critical meetings of central banks over the next few...
Costco Wholesale Corporation (symbol ‘COST’) share price rose by 6% in the quarter ended on 31/08/2023 in a rather steady bullish momentum. The company’s earnings report for the fiscal quarter ending August 2023 is expected to be released on Tuesday 26th of September, after market close. The consensus EPS is $4.71, up from $4.20 in the same quarter last year....