Here are the latest developments in global markets: FOREX: The dollar is nearly 0.3% lower against a basket of six major currencies on Friday, looking set to post a third day of declines in a row, without any fresh catalyst behind these moves. Meanwhile, the British pound soared on Thursday, buoyed by news that EU and UK negotiators reached an accord on the draft political declaration, setting the stage for the deal to be approved by EU leaders over the weekend. [..]
Here are the latest developments in global markets: FOREX:The dollar index is marginally lower on Tuesday (-0.08%), extending the losses it posted in the previous session as US bond yields declined and a disappointing NAHB index fueled speculation the US economy may have peaked. The Swiss franc was the best performer, attracting inflows amid risk aversion in markets, while the euro followed closely in its tracks. The pound was little changed amid no fresh Brexit news, though investors may turn [..]
Amazon’s stock price rebounded after touching a seven-month low on October 30, but continues to trade below its 200-day simple moving average (SMA). Additionally, the price structure on the daily chart consists of lower highs and lower lows. Combined, these imply the outlook remains bearish in both the short- and medium-terms. Momentum oscillators are hovering in negative territory, enhancing the argument. The RSI is already below 50, but is sloping up, while the MACD seems ready to challenge its red [..]
The Nasdaq 100 index slipped back into correction territory on Monday as fears of slower iPhone sales hurt Apple shares, which in turn weighed on the wider technology sector. The latest sell-off has cut short the Nasdaq’s recovery from October’s 6-month lows and raised questions about the outlook for tech stocks going into 2019. Up until the latest rout to hit the US stock market, the tech-heavy Nasdaq had been outperforming the other major indices on Wall Street by a [..]
Here are the latest developments in global markets: FOREX: The dollar soared to fresh 16-month highs against a basket of six major currencies on Monday, building on its gains from Friday, even without any fresh catalyst or news out of the US. Instead, the greenback seems to be taking advantage of softness in the pound and euro, amid Brexit and Italian uncertainties respectively. Elsewhere, the commodity-linked currencies retreated, with the loonie feeling the brunt of the pain as oil prices [..]
Here are the latest developments in global markets: FOREX: The dollar was marginally higher versus a basket of currencies on Tuesday, after losing around 0.3% the previous day. Traders will be eyeing the US congressional elections as a potential driver for the world’s reserve currency during today’s trading. STOCKS: Wall Street finished the day mixed on Monday, with the Dow Jones (+0.76%) and the S&P 500 (+0.56%) advancing and the tech-heavy Nasdaq Composite (-0.38%) edging lower; Apple, Amazon, Google-parent Alphabet and Facebook were [..]
Here are the latest developments in global markets: FOREX: The dollar is higher by 0.17% against a basket of six major currencies on Tuesday, building on the gains it posted yesterday as risk appetite deteriorated and investors sought the safety of the world’s reserve currency. The defensive yen surprisingly underperformed despite the general risk-off mood on Monday. Meanwhile, the aussie and kiwi are both notably higher on Tuesday as risk sentiment seems to have reversed, following hints from President Trump that [..]
Amazon’s earnings data for Q3 will hit the markets after Wall Street’s closing bell on Thursday, with the e-commerce colossus expected to deliver another blockbuster quarterly report. Beyond earnings, investors will scrutinize the firm’s forward guidance and expectations for operating margins, in light of rising wage costs and the prospect of higher shipping expenses. The Seattle-based online retailer is anticipated to have made $3.12 in earnings per share (EPS) during the third quarter, according to Thomson Reuters’ consensus estimates. If [..]
Microsoft’s earnings report for its fiscal first quarter will be made public after Wednesday’s closing bell on Wall Street. The consensus recommendation for the company is “buy”, which matches the average consensus recommendation for the Software peer group. Reuters’ estimates put the tech giant’s earnings per share (EPS) at $0.96 during the quarter ending in September, a forecast which has remained unchanged over the last four weeks. If bottom line results come as expected, this would translate into an increase [..]
Amazon’s stock price has been moving sideways since the soft rebound on the 1685 support level, which overlaps with the medium-term rising trend line. The price has been also fluctuating around 1787, the 23.6% Fibonacci retracement level of the upleg from 929 to 2050. However, looking at the momentum indicators, the RSI is moving lower in the negative territory, while the MACD oscillator is flattening under zero and below its red trigger line, supporting that negative momentum might stay in place in the near term. A move [..]
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