Daily Market Comment – Dollar extends slide as Fed rate cut bets intensify; Powell speech eyed

Posted on June 4, 2019 at 8:16 am GMT

US dollar continues to nosedive as Treasury yields touch fresh lows on rising rate cut expectations RBA cuts rates but Australian dollar defiant as it climbs to 3-week high Tech stocks tumble as US giants, including Facebook and Apple, face antitrust probe Dollar sell-off shows no sign of abating The US currency is headed for its third straight day of sharp losses against a basket of currencies as traders continue to price in an increasing probability that the Federal Reserve [..]


Technical Analysis – Amazon stock drops after reaching 6-month high

Posted on April 25, 2019 at 10:43 am GMT

Amazon has been creating higher highs and higher lows after the rebound on the 1305 support level, jumping to a fresh six-month high of 1928 on April 23. Chances for a downside reversal, however, are increasing as the RSI indicator dropped below the overbought territory and the stochastic oscillator posted a bearish crossover within the %K and %D lines. Another step lower may reach a key support at the 20-simple moving average (SMA) currently at 1867, marginally above the 1852 [..]


Amazon earnings set to reflect increasing focus on profitability – Stock Market News

Posted on April 24, 2019 at 4:06 pm GMT

The world’s biggest online retailer will announce its earnings for Q1 after the US market close on Thursday. Revenue is expected to slow, but profit growth is seen picking up, something that reflects the company’s recent approach of focusing on operating margins. Guidance by management for Q2 will be crucial for the stock’s reaction in the aftermath. The e-commerce giant is expected to report earnings per share (EPS) of $4.72 in Q1, which would represent a robust 44.5% increase from [..]


European Open Preview – Dollar steady despite healthy US data; RBA in focus

Posted on February 4, 2019 at 8:51 am GMT

Dollar unable to rally even after US payrolls smash expectations Risk sentiment mostly in positive territory today amid trade optimism Aussie on the back foot ahead of RBA decision Dollar unimpressed by strong US data, as Fed casts shadow Nonfarm payrolls smashed expectations in January, clocking in at a robust 304k, much higher than the anticipated 165k – though last month’s print was revised down significantly, mitigating some of the good news. Wage growth held steady at 3.2% in annual [..]


European Open Preview – Dollar suffers losses as Fed abandons hiking plans

Posted on January 31, 2019 at 8:45 am GMT

Fed removes guidance for more hikes; dollar crumbles, stocks soar Trade talks conclude today – any signs of progress crucial for markets Eurozone releases GDP data, risks seem skewed to the downside Dollar drops, stocks roar as Fed folds on further rate hikes While the Fed kept rates unchanged as expected yesterday, the meeting wasn’t short of surprises. Policymakers adopted an even more cautious tone, dropping the reference that further gradual rate hikes will be needed, instead reiterating the mantra [..]


Ebay to double annual revenue growth in Q4, Amazon could lag – Stock Market News

Posted on January 28, 2019 at 11:14 am GMT

Ebay Inc and Inc report earnings results on Tuesday and Thursday respectively. Reuters analysts assign an average recommendation of “buy” for Amazon’s shares, whereas for Ebay the average recommendation is “hold”. Inc The third quarter was a market disappointment for Jeff Bezos’ e-commerce giant Inc. Despite earnings beating analysts’ estimates at $5.75 per share, company’s revenues missed forecasts, clocking in at $56.6 billion versus $57.10bln expected. its revenue guidance for the fourth quarter was also under consensus [..]


Technical Analysis – Amazon stock struggles below 200-day SMA in near term

Posted on November 30, 2018 at 11:18 am GMT

Amazon stock price rebounded after touching a seven-month low on November 20, however it still trades below the 200-day simple moving average (SMA). Having a look at the momentum indicators, they are giving mixed signals. On the one hand the MACD is reducing its negative momentum, while the stochastic is turning slightly lower in the overbought zone, signaling possible losses. Also, the RSI is flattening, marginally above the neutral threshold of 50. Advances may stall initially near the 200-day SMA, which stands around yesterday’s high of 1694. A clear climb above [..]


European Open Preview – Pound spikes higher on Brexit news; eurozone PMIs and key Canadian data coming up

Posted on November 23, 2018 at 8:47 am GMT

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. [..]


European Open Preview – Dollar extends pullback; BoE’s Carney appears before parliament

Posted on November 20, 2018 at 8:47 am GMT

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 [..]


Technical Analysis – Amazon stock recovers from seven-month lows, but still bearish

Posted on November 16, 2018 at 12:22 pm GMT

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 [..]

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