Daily Market Comment – Markets steady as trade and Brexit headlines hit pause; ECB coming up

Posted on October 24, 2019 at 8:27 am GMT

Major pairs move sideways amid lack of fresh developments on the trade and Brexit fronts Speech by US Vice President on China eyed for clues on trade talks Stocks edge up despite mixed earnings ECB to kick off busy seven days for central banks Calm in FX markets but risks lurk Major pairs were trading within their recent ranges on Thursday as markets were offered a rare respite from Brexit and trade war headlines. The pound was marginally lower at [..]


European Open Preview – Companies sound warning on China; Brexit saga rumbles on

Posted on January 29, 2019 at 8:43 am GMT

Risk appetite stays fragile as key companies sound the alarm on Chinese growth In the UK, it may be a deciding day for Brexit as lawmakers vote on various plans Earnings season continues in full throttle today, little on economic calendar Corporate warnings on China rattle stocks, drag oil lower US equity markets closed in the red, after industrial bellwether Caterpillar (-9.1%) reported disappointing earnings and chipmaker Nvidia (-13.8%) slashed its revenue forecasts, both companies pointing the finger to weakening [..]


European Open Preview – Dollar takes a hit on speculation for dovish Fed

Posted on January 28, 2019 at 8:58 am GMT

Reports the Fed may halt its balance sheet unwind hurt dollar, boost stocks Sterling marches higher ahead of decisive week for Brexit ECB President Draghi & BoE Governor Carney speak today Dollar slumps, equities advance on Fed reports & trade optimism It was a lively session for both currency and equity markets on Friday. The dollar slumped while stock indices climbed, amid renewed speculation that the Fed may turn even more dovish and the US-China talks could bear fruit soon. [..]


Stock Market News – Caterpillar’s earnings could drive market sentiment

Posted on January 25, 2019 at 1:32 pm GMT

Caterpillar – which is seen as a bellwether for global economic activity – will announce its quarterly results on Monday, two hours ahead of Wall Street’s opening bell. Against the backdrop of slowing global growth and trade tensions, the guidance by management for 2019 could prove equally, if not more important than the actual earnings figures for the market reaction. The world’s largest manufacturer of heavy equipment is projected to report earnings per share (EPS) of $2.99 in the closing [..]


Technical Analysis – Caterpillar stock builds base within SMAs; bearish in long term

Posted on January 25, 2019 at 11:57 am GMT

Caterpillar stock price came under pressure in the previous couple of sessions, falling back below its 137.70 resistance level. Looking at momentum oscillators on the daily chart though, they suggest further declines may be on the cards in the short-term. The stochastic oscillator is approaching the oversold area, detecting negative momentum, and is also pointing downwards. The MACD is ready for a bearish cross with its trigger line in the positive zone. Should the price decline, it could meet support at the 50-day simple moving average (SMA) around 127.40. Then [..]


European Open Preview – Equity selloff accelerates; ECB meeting in the spotlight

Posted on October 25, 2018 at 7:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar is down by 0.21% against a basket of six major currencies on Thursday, giving back some of the gains it posted yesterday, when it capitalized on weakness in the euro. Meanwhile, the defensive yen recovered early losses on Wednesday to finish the session as the second-best performer, as the stock sell-off accelerated. The best performer was the loonie, which soared after the Bank of Canada (BoC) raised rates and [..]


Stock Market News – Boeing & Caterpillar earnings coming up: trade conflict to weigh on their outlook?

Posted on October 22, 2018 at 3:05 pm GMT

Boeing’s earnings report for Q3 2018 is due before Wednesday’s opening bell on Wall Street. The consensus recommendation for the company is “buy”, which is in line with the average consensus recommendation for the Aerospace & Defense peer group. The plane maker’s outlook may well depend on how it performs in China, with the ongoing Sino-US trade dispute acting as a potential drag on Boeing’s prospects.   According to Reuters’ estimates, the aircraft manufacturer is anticipated to have made $3.49 in [..]


European Open Preview – Kiwi plummets on dovish RBNZ; US PPI and US-Japan trade meeting on the horizon

Posted on August 9, 2018 at 7:34 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Thursday, after posting some relatively small losses (-0.13%) in the previous session. Meanwhile, the kiwi collapsed overnight, falling by nearly 1.4% against the dollar, after the RBNZ pushed further back the anticipated timing of its first planned rate increase and reiterated that a rate cut remains on the table. The British pound struggled as well, touching fresh multi-month lows against its major peers as speculation [..]


US Open Preview – European equities and greenback lose ground; German inflation coming up

Posted on July 30, 2018 at 11:25 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback against a basket of six major currencies, was trading lower by around 0.2%, with euro/dollar being up by roughly the same proportion and trading around 20 pips below the 1.17 handle. The reaction to business and consumer confidence surveys out of the eurozone was minimal, with the focus being on German inflation figures which may act as the preamble to tomorrow’s respective numbers out [..]


European Open Preview – Yen holds firm as markets await BoJ; German inflation due

Posted on July 30, 2018 at 7:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is practically flat on Monday after posting some modest losses in the previous session, failing to capitalize on a strong US GDP print for Q2. Meanwhile, the yen advanced on Friday, as markets positioned for the BoJ’s policy decision, scheduled for the Asian trading session on Tuesday. STOCKS: Wall Street posted considerable losses on Friday, as soft earnings releases took the wind out of the sails of major indices. The tech-heavy Nasdaq Composite fell [..]

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