Canada’s trade deficit widened more than expected in June to C$3.73 billion, denting sentiment on the loonie, while rising core inflation compared to dropping headline is somewhat ambiguous. CAD’s traditional correlation with crude oil hasn’t been much in focus in the last few weeks as oil has moved up fairly strongly. Yields from the USA’s decade bonds have been...
Apart from American inflation, surprisingly positive British GDP data on Friday 11 August have boosted the pound in many of its pairs. Nevertheless, the Bank of England remains 0.25% behind the Fed on rates despite British inflation at 7.9% being more than double the USA’s. According to recent comments, the Bank of England now expects the UK to avoid a recession....
Japanese preliminary quarterly GDP growth for Q2 is expected to be stronger at around 0.8% at 23.50 GMT tonight The RBA's minutes are due tomorrow morning at 1.30 Chinese annual industrial production, expected at 2.00 tomorrow, is seen holding at 4.4% The British job report tomorrow is 6.00 is a critical release for the pound and FTSE 100. The consensus is...
In our list, today, is Exxon's Mobil stock, as energy markets are on the move: Crude oil and natural gas are gaining momentum. That’s why the “Oil and Gas exploration” sector might be interesting right now, especially considering a rotation from tech stocks towards other sectors. A trade location around 200-day moving average and a breakout of the chart...
Gold is floating down, amid a low level of fear across the board and rising yields of US bonds. Rising yields, however, probably, would be temporary, as probabilities of interest rate hikes don’t change much, even after an uptick in inflation. The 1900 area is a congregation of 200-day moving average, which is the long-term dynamic support area, with the previous...
Pound-yen's momentum has declined near the recent peaks and the price might retreat to local support around ¥181 or slightly above. The most important narrative driving possible further strength by the yen is the Bank of Japan's halting of its previous ceiling of 0.5% for benchmark decade bonds. GBPJPY appears to be in a more favourable place for trading compared...
Home Depot, Inc. (symbol ‘HD’) share price has made some profits in the second quarter by just over 10%. The company’s earnings report for the fiscal quarter ending July 2023 is set to be released on Tuesday 15th of August, before market open. The consensus EPS is $4.46 compared to the same quarter of last year at $5.05. ‘The company is currently performing...
Shares in Alibaba Group Holding Limited (symbol ‘BABA’) incurred losses in the second quarter of around 7%. The company’s earnings report for the fiscal quarter ending June 2023 is set to be released on Thursday 10th of August, before market open. The consensus EPS is $1.50 compared to the same quarter of last year at $1.40. ‘As of 31/03/2023 the company is...
Tuesday 8 August 12.30 GMT: American balance of trade (June) – consensus negative $65 billion, previous negative $69 billion Thursday 10 August 12.30 GMT: American annual core inflation (July) – consensus 4.8%, previous 4.8% 12.30 GMT: American annual inflation (July) – consensus 3.3%, previous 3% 12.30 GMT: American monthly core inflation (July) –...
Friday’s somewhat positive NFP has weighed somewhat on cable in early trading this week while some participants had also considered a double hike by the Bank of England last Thursday to be possible. Overall, traders seem to have reacted positively to the British government’s new plans to expand domestic production of oil and gas. The BoE was overall somewhat less...
Tuesday 8 August 12.30 GMT: American balance of trade (June) – consensus negative $65 billion, previous negative $69 billion Thursday 10 August 12.30 GMT: American annual core inflation (July) – consensus 4.8%, previous 4.8% 12.30 GMT: American annual inflation (July) – consensus 3.3%, previous 3% 12.30 GMT: American monthly core inflation (July) – consensus...
Friday’s news that the rate of unemployment in the USA fell unexpectedly to 3.5% was negative for gold even though the NFP itself missed the consensus slightly below 190,000. On the whole, the fundamental situation for gold at the moment is quite challenging because many participants and central banks are at least somewhat confident of a soft landing rather than a...
United Parcel Service Inc. (symbol ‘UPS’) share price has lost almost 10% of its valuation in the second quarter of 2023. The company’s earnings report for the fiscal quarter ending June 2023 is set to be released on Tuesday 8th of August, before market open. The consensus EPS is $2.51 compared to the same quarter of last year at $3.29. ‘The company has a...
Shares in Li Auto Inc (symbol ‘LI’) had a profitable second quarter with gains of more than 2o% while the company is currently at a staggering +83% compared to 1st of March. The company’s earnings report for the fiscal quarter ending June 2023 is set to be released on Tuesday 8th of August, before market open. The consensus EPS is $0.19 compared to the same...
How long can the oil price rise? It’d be quite possible to see an extended uptrend with Brent retesting $97 later this year if sentiment in markets remains generally positive and fears of recession don’t clearly return. Oil can often trend for quite a long time compared to other popular CFDs, so if this is indeed a new main uptrend it might continue into the...
The cryptocurrency industry has turned convention on its head. A younger generation of retail (non-professional) traders and technologists have defined a product, market structure and a need for this new asset – and it has caught the world’s attention. The institutional community is also taking note: and so are the regulators. Much like the evolution of equity...
EURUSD's uptrend might continue after a completion of the current retracement around $1.09 depending on important upcoming data. Inflation in the eurozone has continued to drop and flash GDP while lukewarm has at least not been negative, with neither the eurozone generally nor Germany specifically in recession now by this measure. It might be possible to see the...
XRP, the cryptocurrency issued by Ripple had the biggest move in July, by more than +42% increase. Following the court decision in favor of Ripple in the lawsuit against the SEC the cryptocurrency saw immense boost in its price pushing it past $0,80. This is the first industry win against the SEC, and sets the precedent for other crypto assets, tokens and...