Fundamental Analysis from IFC Markets

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Markets up as Wall Street recovers before Fed meeting - 3.5.2022​



Todays’ Market Summary​

  • The Dollar strengthening has paused
  • Futures on three main US stock indexes are up
  • Brent is edging lower currently.
  • Gold prices are edging down currently

Top daily news​

Equities are mostly rising currently as Wall Street ended up Monday in choppy trade with traders positioning themselves for the expected rate hike at Fed meeting starting today. Apple shares added 0.2% underperforming market amid news European Union antitrust regulators charged it with restricting rivals' access to its technology used for mobile wallets that may result in a fine for Apple and require it to change how the payments system works, Facebook parent Meta climbed 5.3% on Monday after falling 9.8% last month.





Forex news​



Currency Pair Change
EUR USD +0.16%
GBP USD +0.33%
USD JPY -0.01%
AUD USD +0.67%
The Dollar strengthening has paused currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.4% on Monday despite Institute for Supply Management report US manufacturing sector expansion unexpectedly slowed in April.

Both GBP/USD and EUR/USD resumed their sliding Monday after Germany’s federal statistics office Destatis report German retail sales unexpectedly fell in March. Both are steady currently. AUD/USD continued retreating yesterday while USD/JPY resumed advancing with both the yen and Australian dollar higher against the Greenback currently after the Reserve Bank of Australia hiked its interest rates for the first time since 2010 - to 0.35% from 0.10%.





Stock Market news​



Indices Change
Dow Jones Index +0.21%
DE 30 +0.9%
Australian Stock Index -0.06%
Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury notes inching down to 2.987%. US stock market rebounded yesterday as investors bought beaten down tech shares. The three main US stock index benchmarks booked daily gains in the range of 0.3% to 1.6% Monday led by tech shares.

European stock indexes are up currently after closing solidly lower Monday in thin trading with UK’s market closed for a public holiday. Asian indexes are mostly up today with Japanese and Chinese markets closed for a holiday.





Commodity Market news​



Commodities Change
Brent Crude Oil -0.68%
WTI Crude -0.55%
Brent is edging lower currently. Prices rebounded yesterday amid reports the European Union is leaning toward banning Russian oil imports by the end of the year. US West Texas Intermediate WTI added 0.5% but is lower currently. Brent gained 0.4% to $107.58 a barrel on Monday.





Gold Market News​



Metals Change
Gold -0.31%
Gold prices are edging down currently. Spot gold yesterday closed down 1.72% at $1863.11 an ounce on Monday.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Equities selloff persists after volatile week - 9.5.2022​



Todays’ Market Summary​

  • The Dollar strengthening continues
  • Futures on US equity benchmarks are down
  • Brent is edging down today over global oil demand worries after Saudi Arabia, world's top oil exporter, lowered crude prices for Asia and Europe for June on Sunday.
  • Gold prices are retreating today

Top daily news​

Equity indexes are pointing in down currently with US 10-year Treasury yields edging up after Wall Street ended lower Friday despite strong jobs report. Apple shares gained 0.47% outperforming market, Amazon shares lost 1.4% on Friday.





Forex news​



Currency Pair Change
EUR USD -0.87%
GBP USD -0.5%
USD JPY +0.47%
The Dollar strengthening continues currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.1% on Friday.

GBP/USD continued its sliding Friday while EUR/USD ended marginally higher after federal statistical office Destatis data showing German industrial output fell much more than expected in March. Both Pound and euro are lower against the Dollar currently. AUD/USD slowed its retreating Friday and USD/JPY slowed its advancing with both the Australian dollar and yen lower against the Greenback currently.



Stock Market news​



Indices Change
Dow Jones Index -0.68%
Nikkei Index -1.41%
GB 100 Index -1.02%
Futures on US equity benchmarks are down currently after US stocks ended down on Friday led by tech shares despite Bureau of Labor Statistics report US economy added a better than expected 428,000 jobs in April. The three main US stock benchmarks recorded daily losses ranging from 0.3% to 1.4%.

European stock indexes are lower currently after ending solidly lower on Friday led by retail shares. Asian indexes are retreating today led by Japanese Nikkei as Shanghai and Beijing tightened COVID-19 curbs on their residents.





Commodity Market news​



Commodities Change
Brent Crude Oil -0.37%
WTI Crude -1.5%
Brent is edging down today over global oil demand worries after Saudi Arabia, world's top oil exporter, lowered crude prices for Asia and Europe for June on Sunday. Prices ended higher on Friday posting a second straight weekly increase. West Texas Intermediate (WTI) futures rose 1.4% but is lower currently. Brent crude gained 1.3% to $112.39 a barrel on Friday.







Gold Market News​



Metals Change
Gold -0.78%
Gold prices are retreating today. Prices ended higher on Friday: spot gold added 0.34% to $1882.99 an ounce.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Wall Street set to open higher after sharp drop - 10.5.2022​


Todays’ Market Summary​

  • The Dollar strengthening has paused
  • Futures on three main US stock indexes are up
  • Brent is edging lower currently.
  • Gold prices are edging up currently

Top daily news​

Equities are pointing in different directions currently while US stock indexes are up following a brutal session on Monday. Apple shares lost 3.08% outperforming market while posting more than 10% loss over the last six weeks, Tesla shares sank 9.05% on Monday amid news the company halted production at its Shanghai plant due to issues with supplies.





Forex news​



Currency Pair Change
EUR USD +0.19%
GBP USD +0.06%
USD JPY -0.01%
AUD USD +0.15%
The Dollar strengthening has paused currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.1% on Monday.

EUR/USD continued climbing Monday and GBP/USD continued its sliding while Sentix reported an all-time low in economic expectations for Germany as the overall Eurozone sentiment index declined more than expected. Both are up currently. AUD/USD accelerated its retreating yesterday while USD/JPY reversed its advancing with both the yen and Australian dollar higher against the Greenback currently.





Stock Market news​



Indices Change
Dow Jones Index +0.47%
Nikkei Index +0.49%
Hang Seng Index -0.43%
Australian Stock Index +0.44%
Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury notes inching down to 3.04%. US stock market extended the selloff yesterday as fears of slowdown resurfaced after data from China showed China’s export growth slowed to its weakest in almost two years. The three main US stock index benchmarks booked daily losses in the range of 2.0% to 4.3% Monday led by mega-cap growth shares.

European stock indexes are up currently after closing solidly lower Monday led by travel shares. Asian indexes are mixed today with Hong Kong’s Hang Seng index leading losses while Japanese and Australian shares pared earlier losses.





Commodity Market news​



Commodities Change
Brent Crude Oil -0.82%
WTI Crude -0.85%
Brent is edging lower currently. Prices tumbled yesterday amid reports of tighter and wider COVID-19 lockdowns in China. Data showed crude oil imports by China in the first four months of 2022 fell 4.8% from a year ago. US West Texas Intermediate WTI sank 6.1% and is lower currently. Brent dropped 5.7% to $105.94 a barrel on Monday.





Gold Market News​



Metals Change
Gold +0.4%
Gold prices are edging up currently. Spot gold closed down 1.54% at $1853.95 an ounce on Monday.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Global stocks down after weak Chinese data - 16.5.2022​



Todays’ Market Summary​

  • The Dollar weakening is intact
  • Futures on US equity benchmarks are down
  • Brent is edging down today after China reported April oil refinery output plunged to two-year low – down 11%.
  • Gold prices are retreating today

Top daily news​

Equity indexes are mostly in red currently after disappointing data from China despite a rebound on Wall Street on Friday. Alphabet shares gained 2.84% while the volume of company’s stocks that are sold short rose 41.0% over last two weeks of April, Amazon shares rallied 5.73% on Friday outperforming market.





Forex news​



Currency Pair Change
EUR USD +0.22%
GBP USD -0.02%
USD JPY -0.19%
UD USD -0.31%
The Dollar weakening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slid 0.2% on Friday despite Federal Open Market Committee (FOMC) member Mester joining other members of policy setting committee supporting rate hikes at next meetings by saying it is “appropriate to raise policy rate another 50 Basis points at each of next two meetings.”

Both GBP/USD and EUR/USD reversed their sliding Friday while euro area statistical office Eurostat data showed industrial production in euro zone shrank by 1.8% in March from the previous month, a slower downturn than the 2.1% expected. Pound is lower against the Dollar currently while euro is up still. Both AUD/USD and USD/JPY reversed their retreating Friday with the Australian dollar lower against the Greenback currently but yen higher.





Stock Market news​



Indices Change
Dow Jones Index -0.74%
Nikkei Index -0.91%
Hang Seng Index -1.08%
Australian Stock Index -0.4%
Futures on US equity benchmarks are down currently after US stocks rebounded on Friday led by tech shares despite University of Michigan report US consumer sentiment declined in early May to the lowest since 2011 on persistent concerns over inflation. The three main US stock benchmarks recorded daily gains ranging from 1.5% to 3.8%.

European stock indexes are lower currently after ending solidly higher on Friday led by travel and leisure shares. Asian indexes are retreating today led by Hong Kong’s Hang Seng index as China reported April retail sales plunged 11.1% on the year, almost twice the drop forecast, while industrial output dropped 2.9% when analysts had expected a slight increase.





Commodity Market news​



Commodities Change
Brent Crude Oil -1.7%
WTI Crude -0.77%
Brent is edging down today after China reported April oil refinery output plunged to two-year low – down 11%. Prices ended higher on Friday as US gasoline prices jumped to a record high. US gasoline futures soared after domestic stockpiles fell last week for a sixth straight week, boosting refining profit margins to its highest since it hit a record in April 2020 when WTI finished in negative territory. West Texas Intermediate (WTI) futures rose 4.1% but is lower currently. Brent crude gained 3.8% to $111.55 a barrel on Friday.





Gold Market News​



Metals Change
Gold -0.25%
Gold prices are retreating today. Prices ended lower on Friday: spot gold lost 0.66% to $1810.68 an ounce.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Equities rise while Chinese stocks lag behind - 23.5.2022​



Todays’ Market Summary​

  • The Dollar weakening has resumed
  • Futures on US equity benchmarks are up
  • Brent is edging up today.
  • Gold prices are extending gains today

Top daily news​

Equity indexes are mostly rising with Chinese stocks defying the general trend while Wall Street ended essentially flat on Friday. Apple shares gained 0.17% amid reports the company sees India as the alternative to China for production of iPhone,Ipad, MacBook because of its big population and low costs, Tesla shares fell 6.42% on Friday underperforming market while a major Tesla investor called for $15 billion stock buyback.





Forex news​



Currency Pair Change
EUR USD +0.39%
GBP USD +0.58%
USD JPY -0.12%
AUD USD +0.73%
The Dollar weakening has resumed currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.1% on Friday.

EUR/USD reversed its climbing Friday while GBP/USD continued advancing while federal statistical office Destatis data showed German producer prices soared 33.5% year on year in April, a new record. Both Pound and euro are higher against the Dollar currently. AUD/USD reversed its climbing while USD/JPY reversed its retreating Friday with both the Australian dollar and yen higher against the Greenback currently.





Stock Market news​



Indices Change
Dow Jones Index +0.17%
Nikkei Index +0.89%
Hang Seng Index -1.18%
Australian Stock Index +0.38%
Futures on US equity benchmarks are up currently after US stocks ended marginally higher on Friday. The three main US stock benchmarks recorded daily returns ranging from -0.3% to +0.03% with SP 500 down about 19% from its January high.

European stock indexes are higher currently after ending higher on Friday led by travel and leisure shares. Asian indexes are rising today led by Japanese Nikkei while Chinese shares are retreating led by tech shares.





Commodity Market news​



Commodities Change
Brent Crude Oil +0.74%
WTI Crude +0.68%
Brent is edging up today. Russia's Gazprom on Saturday halted gas exports to neighboring Finland over payments dispute. Oil prices ended higher on Friday as the oil services company Baker Hughes reported US oil and natural gas rigs count rose for a ninth week in a row. The rig count is an indicator of future output growth. West Texas Intermediate (WTI) futures rose 0.9% and is higher currently. Brent crude gained 0.5% to $112.55 a barrel on Friday.



Gold Market News​



Metals Change
Gold +0.45%
Gold prices are extending gains today. Prices ended higher on Friday: spot gold added 0.26% to $1845.60 an ounce.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Global stocks retreat after rebound in previous session - 24.5.2022​



Todays’ Market Summary​



  • The Dollar weakening has halted
  • Futures on three main US stock indexes are down
  • Brent is edging lower currently as an agreement on Russian oil imports ban still escapes European Union though German economy minister says he expects EU embargo on Russian oil 'within days'.
  • Gold prices are edging up currently

Top daily news​

Equities are pointing down currently as US Treasury yields inch down while markets rebounded on Monday. Amazon slipped 0.03% amid reports it is planning to sublease some of its warehouse space because the pandemic-fueled surge in online shopping has slowed, Microsoft shares rose 3.2% outperforming market on Monday.





Forex news​



Currency Pair Change
EUR USD -0.32%
GBP USD -0.04%
USD JPY +0.37%
AUD USD -0.36%
The Dollar weakening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.5% on Monday.

EUR/USD joined GBP/USD’s continuing climbing Monday while the Ifo institute reported German business sentiment continued to improve in May. Both pairs are down currently. AUD/USD resumed its advancing yesterday while USD/JPY continued its climbing with the yen higher against the Greenback currently and Australian dollar retreating.





Stock Market news​



Indices Change
Dow Jones Index -0.59%
Nikkei Index -1.14%
Hang Seng Index -1.62%
Australian Stock Index -0.58%
Futures on three main US stock indexes are down currently ahead of U.S. manufacturing purchasing managers survey report at 15:45 CET with the yield on benchmark 10-year Treasury notes inching down to 2.841%. US stock market reversed the selloff yesterday as President Biden said that he was considering easing tariffs on China. The three main US stock index benchmarks booked daily gains in the range of 1.6% to 2.0% Monday led by mega-cap growth shares.

European stock indexes are down currently after closing up Monday led by banking and mining shares while European Central Bank President Christine Lagarde surprised markets by stating about possible rate hike as early as July. Asian indexes are falling today with Hong Kong’s Hang Seng index leading losses while Markit reported Japan's manufacturing activity grew at the slowest pace in three months in May.





Commodity Market news​



Commodities Change
Brent Crude Oil -0.52%
WTI Crude -1.31%
Brent is edging lower currently as an agreement on Russian oil imports ban still escapes European Union though German economy minister says he expects EU embargo on Russian oil 'within days'. Prices advanced marginally yesterday. US West Texas Intermediate WTI added 0.01% but is lower currently. Brent gained 0.7% to $113.42 a barrel on Monday.



Gold Market News​



Metals Change
Gold +0.15%
Gold prices are edging up currently. Spot gold yesterday closed up 0.39% at $1852.74 an ounce on Monday.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Global stocks mixed after German inflation surprise - 31.5.2022​



Todays’ Market Summary​

  • The Dollar weakening has halted
  • Futures on three main US stock indexes are down
  • Brent rally is intact currently after the European Union agreed to slash oil imports from Russia by the end of 2022.
  • Gold prices are edging down currently

Top daily news​

Equity indexes are pointing in different directions currently ahead of US markets reopening after data on Monday showed German inflation surged more than expected in May. Japanese carmaker Subaru’s shares jumped 4.06% amid reports Subaru’s legendary WRX is set to be re-imagined by Britain’s Prodrive, Deutsche Bank shares rose 2.4% outperforming market on Monday.





Forex news​



Currency Pair Change
EUR USD -0.39%
GBP USD -0.33%
USD JPY +0.05%
AUD USD -0.25%
The Dollar weakening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.2% on Monday.

Both EUR/USD and GBP/USD accelerated their climbing Monday while the federal statistics office Destatis reported German inflation surged 8.7% in May instead of expected 7.9%. Both pairs are down currently. AUD/USD slowed its advancing yesterday while USD/JPY slowed its sliding with both the yen and Australian dollar lower against the Greenback currently.



Stock Market news​



Indices Change
Dow Jones Index -0.65%
Nikkei Index -0.44%
Hang Seng Index +0.99%
Australian Stock Index -1.01%
Futures on three main US stock indexes are down currently ahead of Chicago Purchasing Managers' Index report at 15:45 CET with the yield on benchmark 10-year Treasury notes inching up to 2.846%. US stock market was closed yesterday for Memorial Day holiday however index futures rose - SP 500 e-mini futures rose 0.3%, having rallied 6.6% last week.

European stock indexes are down currently ahead of eurozone inflation data due today at 11:00 CET. Indexes closed up Monday led by tech shares. Asian indexes are mixed today with Hong Kong’s Hang Seng index leading gains while the Ministry of Economy, Trade and Industry reported Japan's industrial output dropped sharply in April due to lower Chinese demand.





Commodity Market news​



Commodities Change
Brent Crude Oil +0.88%
WTI Crude +1.3%
Brent rally is intact currently after the European Union agreed to slash oil imports from Russia by the end of 2022. Prices advanced to two-month high yesterday as Shanghai announced an end to its two-month-long COVID-19 lockdown. US West Texas Intermediate WTI added 1.7% and is higher currently. Brent gained 1.9% to $121.67 a barrel on Monday.





Gold Market News​



Metals Change
Gold -0.07%
Gold prices are edging down currently . Spot gold yesterday closed up 0.17% at $1855.97 an ounce on Monday.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Global stocks up after Wall Street closes week down again - 6.6.2022​



Todays’ Market Summary​

  • The Dollar weakening has resumed
  • Futures on US equity benchmarks are up
  • Brent is edging down today while Saudi Arabia, the world's top oil exporter, raised July crude oil prices for Asian buyers to higher than expected levels.
  • Gold prices are edging up today

Top daily news​

Equity indexes are pointing up currently after Wall Street ended lower second week in a row on Friday. Microsoft shares lost 1.66% underperforming market amid company warning strong US dollar weighs on software profits as the world’s largest software maker cut its profit forecast for the current quarter, Tesla shares sank 9.22% on Friday while Elon Musk emailed he has a "super bad feeling" about the economy and needs to cut about 10% of staff.

Forex news​





Currency Pair Change
EUR USD -0.07%
GBP USD -0.22%
USD JPY -0.12%
AUD USD -0.04%
The Dollar weakening has resumed currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.3% on Friday as the Bureau of Labor Statistics reported US non-farm payrolls rose 390 thousand in May versus the 325 thousand consensus forecast.

Both EUR/USD and GBP/USD reversed their advancing Friday. Both Pound and euro are higher against the Dollar currently. AUD/USD reversed its climbing while USD/JPY reversed its advancing Friday with yen higher against the Greenback currently and the Australian dollar lower.





Stock Market news​



Indices Change
Dow Jones Index +0.55%
Nikkei Index +1.44%
Hang Seng Index +0.6%
Australian Stock Index +0.02%
Futures on US equity benchmarks are up currently after US stocks ended solidly lower on Friday despite stronger than expected nonfarm payrolls report for May. The three main US stock benchmarks recorded daily losses ranging from 1.1% to 2.5% while unemployment remained at 3.6%, wage gains slowed, and services sector growth slowed.

European stock indexes are up currently after ending lower on Friday. Asian indexes are rising today led by Japan’s Nikkei index amid reports China’s service sector activity contracted in May.



Commodity Market news​



Commodities Change
Brent Crude Oil -1%
WTI Crude -1.01%
Brent is edging down today while Saudi Arabia, the world's top oil exporter, raised July crude oil prices for Asian buyers to higher than expected levels. Oil prices ended higher on Friday while the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, on Thursday agreed to boost output by 648,000 barrels per day (bpd) a month in July and August rather than 432,000 bpd as previously agreed. West Texas Intermediate (WTI) futures rose 1.7% but is lower currently. Brent crude gained 1.8% to $119.72 a barrel on Friday.





Gold Market News​

Metals Change
Gold +0.15%
Gold prices are edging up today. Prices ended lower on Friday: spot gold lost 0.93% to $1851.04 an ounce.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Global stocks down after Wall Street selloff deepened - 13.6.2022​



Todays’ Market Summary​

  • The Dollar strengthening is intact
  • Futures on US equity benchmarks are down
  • Brent is edging down today while the price of US gasoline averaged more than $5 a gallon for the first time on Saturday.
  • Gold prices are edging down today

Top daily news​

Equity indexes are pointing down currently after Wall Street selloff deepened on Friday after another red-hot inflation report. Microsoft shares sank 4.46% underperforming market, Alphabet shares lost 3.2% on Friday while United Kingdom’s antitrust watchdog announced it will probe suspected breaches of competition law in Google’s rules over in-app payments in its mobile store in the UK .



Forex news​



Currency Pair Change
EUR USD -0.3%
GBP USD -0.4%
USD JPY +0.07%
AUD USD -0.18%
The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, jumped 0.7% on Friday as the Bureau of Labor Statistics reported US consumer price index jumped 8.6% compared to May 2021.

Both EUR/USD and GBP/USD continued their sliding Friday. Both Pound and euro are lower against the Dollar currently. AUD/USD slowed its sliding while USD/JPY ended little changed Friday with both yen and the Australian dollar lower against the Greenback currently.





Stock Market news​



Indices Change
Dow Jones Index -0.84%
Nikkei Index -1.51%
Hang Seng Index -1.57%
Australian Stock Index -4.4%
Futures on US equity benchmarks are down currently after US stocks tumbled on Friday following stronger than feared inflation report while the University of Michigan consumer sentiment index, which measures how American consumers feel about the economy, personal finance and business and buying conditions, fell sharply to its lowest recorded value. The three main US stock benchmarks recorded daily losses ranging from 2.7% to 3.5%.

European stock indexes are down currently after ending lower on Friday led by bank shares. Asian indexes are falling today led by Australia’s ASX 200 index .





Commodity Market news​



Commodities Change
WTI Crude -1.4%
Brent is edging down today while the price of US gasoline averaged more than $5 a gallon for the first time on Saturday. Oil prices ended lower on Friday while parts of Shanghai imposed new lockdown restrictions and the city announced a round of mass testing for millions of residents. West Texas Intermediate (WTI) futures lost 0.7% and is lower currently. Brent crude fell 0.8% to $122.01 a barrel on Friday.





Gold Market News​



Metals Change
Gold -0.6%
Gold prices are edging down today. Prices ended higher on Friday: spot gold rose 1.25% to $1870.90 an ounce.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Equities mixed after SP500 tips into bear market - 14.6.2022​



Todays’ Market Summary​

  • The Dollar strengthening has halted
  • Futures on three main US stock indexes are up
  • Brent is up currently.
  • Gold prices are edging up currently

Top daily news​

Equity indexes are pointing in different directions currently after SP500 confirmed it is in a bear market on Monday. Microsoft shares lost 4.24% underperforming market while the software giant announced an agreement with the Communications Workers of America union that would make it easier for employees to unionize at the video game maker Activision Blizzard, which Microsoft is acquiring for $70 billion, Apple shares slid 3.83% on Monday.





Forex news​



Currency Pair Change
EUR USD +0.53%
GBP USD +0.44%
USD JPY +0.01%
AUD USD +0.34%
The Dollar strengthening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.8% on Monday.

Both EUR/USD and GBP/USD continued their retreating Monday as the Office for National Statistics reported manufacturing production slump accelerated in UK in April. Both pairs are up currently. AUD/USD speeded up its retreating yesterday while USD/JPY ended flat with the yen lower against the Greenback currently and Australian dollar higher.





Stock Market news​



Indices Change
Dow Jones Index +0.58%
Nikkei Index -1.32%
Hang Seng Index -0.26%
Australian Stock Index -3.55%
Futures on three main US stock indexes are up currently ahead of producer prices index report today 14:30 CET with the yield on benchmark 10-year Treasury notes inching down to 3.362%. US stocks dropped yesterday with SP500 closing 21.8% below its January 3 record closing high. The three benchmark indexes recorded daily losses ranging from 2.8% to 4.7% on Monday as Goldman Sachs forecast a 75 basis point interest rate hike at the Federal Reserve's policy meeting tomorrow.

European stock indexes are mixed currently after closing down Monday led by travel and leisure shares. Asian indexes are mixed today with Australia’s All Ordinaries ASX 200 Index leading losses.



Commodity Market news​



Commodities Change
Brent Crude Oil +0.9%
WTI Crude +0.76%
Brent is up currently. Prices edged up yesterday. US West Texas Intermediate WTI added 0.3% and is lower currently. Brent slipped 0.2% to $119.51 a barrel on Monday.





Gold Market News​



Metals Change
Gold +0.37%
Gold prices are edging up currently . Spot gold yesterday closed down 2.73% at $1819.79 an ounce on Monday.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Global stocks down after Wall Street rebound - 22.6.2022​



Todays’ Market Summary​

  • The Dollar strengthening has resumed currently
  • Futures on three main US stock indexes are down
  • Brent is falling today with President Biden expected to call for a temporary suspension of the 18.4 cents a gallon federal tax on gasoline.
  • Gold prices are extending losses

Top daily news​

Stock markets are lower today after US stocks finished solidly higher on Tuesday. Alphabet shares rallied 4.11% outperforming market amid news Google resolved French copyright dispute over online content and has dropped its appeal against a 500 million euro ($528 million) fine, Microsoft stock rose 2.46% as the IT giant said it would stop selling technology that guesses someone's emotion based on a facial image and would no longer provide access to facial recognition technology.





Forex news​



Currency Pair Change
EUR USD -0.08%
GBP USD -0.41%
USD JPY -0.95%
AUD USD -0.48%
The Dollar strengthening has resumed currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.1% Tuesday despite National Association of Realtors report existing-home sales retreated for the fourth consecutive month in May - falling 8.6% over year.

Both EUR/USD and GBP/USD continued advancing yesterday despite European Central Bank report euro zone’s current account deficit increased to €6 billion in April, up from €2 billion in previous month. USD/JPY accelerated its climbing Tuesday while AUD/USD continued its advancing with yen higher against the Greenback currently and Australian dollar lower.



Stock Market news​



Indices Change
Dow Jones Index -0.46%
Nikkei Index -0.76%
Hang Seng Index -2.27%
Australian Stock Index -0.23%
Futures on three main US stock indexes are down currently ahead of Federal Reserve chair Powell’s testimony to Congress at 15:30 CET today. The yield on benchmark 10-year US notes edged down to 3.262% currently. Stock indexes in US ended higher on Tuesday: the three main US stock indexes posted daily gains ranging from 2.2% to 2.5%.

European stock indexes are down currently after a bullish session on Tuesday with auto shares leading gains. Asian indexes are mostly lower today with Hong Kong’s Hang Seng index leading losses.





Commodity Market news​



Commodities Change
Brent Crude Oil -4.63%
WTI Crude -5.62%
Brent is falling today with President Biden expected to call for a temporary suspension of the 18.4 cents a gallon federal tax on gasoline. Oil prices ended higher on Tuesday. The US oil benchmark West Texas Intermediate (WTI) added 1 % but is lower currently. Brent rose 0.5% to $114.65 a barrel.





Gold Market News​



Metals Change
Gold -0.52%
Gold prices are extending losses today. Spot gold lost 0.32% to $1,832.44 an ounce on Tuesday.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
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Global stocks gain after Wall Street rebound - 27.6.2022​



Todays’ Market Summary​

  • The Dollar weakening is intact
  • Futures on US equity benchmarks are up
  • Brent is edging up today as European Union countries' energy ministers prepare to discuss options for how they could jointly curb gas demand.
  • Gold prices are edging up today

Top daily news​

Equity indexes are pointing up currently after US stocks ended the week solidly higher on Friday. Microsoft shares rose 3.42% outperforming market, Apple shares gained 2.45% as the IT giant confirmed Apple employees can use their company benefits to travel out-of-state for reproductive care.





Forex news​



Currency Pair Change
EUR USD +0.24%
GBP USD +0.37%
USD JPY -0.15%
AUD USD -0.02%
The Dollar weakening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.3% on Friday.

Both EUR/USD and GBP/USD reversed their sliding Friday despite data showing sentiment in German business deteriorated more than expected in June. Both Pound and euro are higher against the Dollar currently. Both USD/JPY and AUD/USD reversed their sliding Friday with the yen higher against the Greenback currently and Australian dollar lower.





Stock Market news​



Dow Jones Index
Indices Change
+0.86%
Nikkei Index +0.8%
Hang Seng Index +2.26%
Australian Stock Index +0.68%
Futures on US equity benchmarks are up currently after US stocks rallied on Friday despite the University of Michigan's consumer sentiment index falling to the lowest level in its 45-year history. The three main US stock benchmarks recorded daily gains ranging from 2.7% to 3.3% with SP500 tacking almost 6.5% for the week, its best performance in 2022.

European stock indexes are advancing currently after ending higher on Friday led by tech shares. Asian indexes are up today led by Hong Kong’s Hang Seng Index.





Commodity Market news​



Commodities Change
Brent Crude Oil +1.15%
WTI Crude +0.75%
Brent is edging up today as European Union countries' energy ministers prepare to discuss options for how they could jointly curb gas demand. Oil prices ended higher on Friday despite energy services firm Baker Hughes report US energy firms added oil and natural gas rigs last week for a second week in a row. West Texas Intermediate (WTI) futures jumped 3.2% and is higher currently. Brent crude rose 2.8% to $113.12 a barrel on Friday.





Gold Market News​



Metals Change
Gold +0.13%
Gold prices are edging up today amid news Group of Seven nations will announce a ban on imports of Russian gold on Tuesday. Prices ended higher on Friday: spot gold added 0.18% to $1826.10 an ounce.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Global stocks up after Wall Street gain - 7.7.2022​


Todays’ Market Summary​



  • The Dollar strengthening has halted
  • The US stock index futures are up currently
  • Brent is edging higher currently.
  • Gold prices are rebounding

Top daily news​



Equity indexes are pointing up currently after Federal Reserve minutes confirmed policymakers willingness to continue raising interest rates. Wall Street edged up yesterday. Apple shares rose 0.96% on Wednesday, Google shares added 1.16% outperforming market despite Monness, Crespi, Hardt & Co analyst joining others who earlier cut price target for the stock on ad spending decline concerns as recession fears linger.



Forex news​



Currency Pair Change
EUR USD +0.05%
GBP USD +0.17%
USD JPY -0.16%
AUD USD +0.45%
The Dollar strengthening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.5% Wednesday.

Both EUR/USD and GBP/USD slowed their retreating on Wednesday. Euro and Pound are higher against the Dollar currently. USD/JPY continued advancing yesterday while AUD/USD continued retreating with both the Australian dollar and yen higher against the Greenback currently.





Stock Market news​



Indices Change
Dow Jones Index +0.37%
Nikkei Index +1.86%
Hang Seng Index +0.99%
Australian Stock Index +0.46%
The US stock index futures are up currently ahead of Bureau of Labor Statistics report on unemployment claims due today at 14:30 CET and St Louis Fed President James Bullard speech at 19:00 CET. The three main US stock indexes booked gains ranging from 0.2% to 0.4% Wednesday despite the Institute for Survey Management's services index decline.

European stock indexes are higher currently after closing up yesterday led by retail shares. Asian stock indexes futures are rising today with Japan’s Nikkei leading gains.







Commodity Market news​



Commodities Change
Brent Crude Oil +1.14%
WTI Crude +0.86%
Brent is edging higher currently. Prices fell yesterday on energy demand concerns as potential global recession fears linger. The US oil benchmark West Texas Intermediate (WTI) futures fell 1% but is higher currently. Brent crude lost 2% to $100.69 a barrel on Wednesday.





Gold Market News​



Metals Change
Gold +0.37%
Gold prices are rebounding currently. Spot gold fell 1.5% to $1738.59 an ounce on Wednesday.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Markets rebound after Wall Street rally - 18.7.2022​




Todays’ Market Summary​

  • The Dollar weakening is intact
  • Futures on US equity benchmarks are up
  • Brent is edging up today with China lockdowns concerns as COVID cases rise capping gains.
  • Gold prices are edging up today

Top daily news​

Equity indexes are rising currently after US stocks ended sharply higher on Friday following strong retail sales report. Google shares rose 1.28% underperforming market amid reports indexing issue affected a large number of sites preventing traffic displaying from Google for new content sites published, Amazon shares jumped 2.64% on reports the company plans further 4,000 UK jobs despite global slowdown.







Forex news​



Currency Pair Change
EUR USD +0.56%
GBP USD +0.59%
USD JPY -0.35%
AUD USD +0.64%
The Dollar weakening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slid 0.5% on Friday.

Both EUR/USD and GBP/USD reversed their sliding Friday despite data showing the euro area recorded a €26.3 billion deficit in trade in goods with the rest of the world in May 2022, compared with a surplus of €12.0 billion in May 2021. Both Pound and euro are higher against the Dollar currently. AUD/USD reversed its retreating Friday and USD/JPY reversed its climbing with both the Australian dollar and yen higher against the Greenback currently.





Stock Market news​



Indices Change
Dow Jones Index +0.57%
GB 100 Index +0.55%
Hang Seng Index +2.32%
Australian Stock Index +0.98%
Futures on US equity benchmarks are up currently after US stocks rallied on Friday following University of Michigan preliminary report consumers’ inflation expectations slipped lower for July. The three main US stock benchmarks recorded daily gains ranging from 1.8% to 2.2%.

European stock indexes futures are higher currently after ending solidly up on Friday with auto shares leading gainers. Asian indexes futures are rising today led by Hong Kong’s Hang Seng Index with Japan's markets closed for a holiday.



Commodity Market news​



Commodities Change
Brent Crude Oil +2.93%
WTI Crude +2.64%
Brent is edging up today with China lockdowns concerns as COVID cases rise capping gains. Oil prices ended higher on Friday as Saudi ministers insisted that oil policy decisions would be taken according to market conditions and that OPEC+ would continue to assess market conditions and do what is necessary. Energy services firm Baker Hughes reported US active oil rig count rose by two to 599 last week, its highest since March 2020. West Texas Intermediate (WTI) futures gained 2% but is lower currently. Brent crude rose 2.3% to $107.02 a barrel on Friday.





Gold Market News​



Metals Change
Gold +0.62%
Gold prices are edging up today. Prices ended marginally lower on Friday: spot gold slid 0.21% to $1706.70 an ounce.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Today is Tesla Inc earnings release day - 20.7.2022​



Todays’ Market Summary​



  • On Tuesday, the US dollar index fell for the 3rd day in a row.
  • Yesterday, US stock indices rose strongly.
  • On Tuesday, oil quotes rose for the 3rd day in a row.
  • Precious metals have halted their decline as investors now expect a more modest Fed rate hike.

Top daily news​

On Tuesday, the US dollar index fell for the 3rd day in a row. Since investors expect a more modest increase in the Fed rate. On July 27, it can be increased not by 1%, but only by 0.75% - up to 2.5%. In addition, a significant negative for the US dollar index was the growth of EURUSD on the eve of the expected increase in the rate of the European Central Bank. US stocks rose strongly yesterday thanks to good quarterly earnings from Netflix.





Forex news​



Currency Pair Change
EUR USD +0.09%
GBP USD +0.07%
USD JPY -0.03%
On Tuesday, the US dollar index fell for the 3rd day in a row. Several representatives of Fed immediately expressed doubts about the excessive tightening of monetary policy. Now investors no longer expect the Fed to raise the Fed rate by 1% from the current level of 1.75% at the next meeting on July 27th. According to CME FedWatch, the probability of a rate hike of 1% at once is now 35.6%. Last week it was much higher and amounted to 80.3%. Most likely the Fed rate will be increased only by 0.75% - up to 2.5%. A significant negative for the US dollar index was the growth of EURUSD. The strengthening of the euro started at the end of last week after the publication of good data on EU foreign trade for May. The trade deficit (-26 billion euros) unexpectedly turned out to be much better than forecasts (-40.6 billion euros). In addition, investors are looking forward to the next meeting of ECB, which will be held tomorrow, July 21. For the first time since October 2008, the rate may be increased from the current 0% to 0.25% or even 0.5%. An important, additional factor in strengthening the euro was Russia's decision to resume natural gas supplies to Europe via the Nord Stream gas pipeline. This morning the UK inflation data for June (+9.4% y/y) was released. It turned out to be much worse than expected. However, this has not yet hurt the quotations of the British pound. Bank of England Governor Andrew Bailey announced a possible rate hike (1.25%) by another 0.5% at the next meeting on August 4

Bitcoin is showing good growth. It has risen in price by almost a quarter in a week. The $20,000 psychological mark is now a support level. The main catalyst for the growth of the entire crypto market was the message from the developers of Ethereum about the transition to a new principle of mining and settlement, which should take place on September 19. You can read more about this in the Technical Analysis section. Note that Ethereum has risen in price by one and a half times in a week.





Stock Market news​





Indices Change
Dow Jones Index +2.43%
S&P 500 +2.76%
Nasdaq 100 +3.11%
Yesterday, US stock indices rose strongly. The S&P 500 Telecom Services industry index (+3.6%) was the leader of the increase. This was facilitated by good quarterly reporting from Netflix (+13%) and investors' expectations that the Fed would still raise the rate by only 0.75% (up to 2.5%), and not immediately by 1%. High interest rates increase the corporate lending burden and may be a negative factor for share prices. According to Refinitiv, the increase in total profits of corporations from the list of S&P 500 in the 2nd quarter will be +5.8% y/y. Now futures for US stock indices are growing in anticipation of the publication of Tesla Inc quarterly reports, which are also expected to be positive. Abbott Labs, Biogen, United Airlines Holdings, Alcoa and other US companies will also report today. In addition, there will be data on the secondary residential real estate market Existing Home Sales. Note that the forecast is negative. Against the backdrop of high inflation (+9.1% y/y in June), the US housing market is stagnant.







Commodity Market news​





Commodities Change
WTI Crude -1.51%
Brent Crude Oil -1.2%
Natural Gas Prices -0.55%
COPPER +1.58%
On Tuesday, oil quotes rose for the 3rd day in a row. However, US West Texas Intermediate (WTI) has not yet been able to gain a foothold above the psychological level of $100 per barrel. Last week U.S. President Joe Biden visited the countries of the Middle East. Negotiations on a possible increase in oil production were neutral. Recall that in May, oil exports from Saudi Arabia were at a 4-month low. Oil is getting cheaper this morning. The main reason for this was the report of the independent American Petroleum Institute on the increase in oil reserves in the US by 1.86 million barrels per week.

Natural gas in the US is getting cheaper today for the 2nd day in a row amid reports about the resumption of Russian pipeline gas supplies to Europe via the Nord Stream gas pipeline.

Coffee quotes have risen markedly (+10% in 3 days) due to the drought in Brazil.





Gold Market News​





Metals Change
Gold -0.3%
Silver/US Dollar +0.04%
Precious metals have halted their decline as investors now expect a more modest Fed rate hike. On July 27, it can be increased not by 1%, but only by 0.75% - up to 2.5%. The yield of the US 10-year Treasury has been around 3% per annum for 2 weeks now. Gold is trading above the psychological support level of $1,700 an ounce.
 

IFC Markets

Master Trader
Oct 31, 2012
1,897
9
84
London (Great Britain)
www.ifcmarkets.com

Global stocks mixed after US stocks post weekly gains - 15.8.2022​



Todays’ Market Summary​

  • The Dollar strengthening is intact
  • Futures on US equity benchmarks are down
  • Brent is extending losses today weighed by disappointing Chinese data.
  • Gold prices are edging down today

Top daily news​

Equity indexes are pointing indifferent directions currently after US stocks ended solidly higher on Friday. Facebook shares rose 1.7% despite reports the rate at which teens use Facebook is rapidly declining, Tesla shares rallied 4.67% on Friday outperforming market.





Forex news​



Currency Pair Change
EUR USD -0.84%
GBP USD -0.3%
USD JPY -0.02%
AUD USD -0.7%


The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.4% on Friday while the University of Michigan data showed consumer sentiment improved slightly in August.

EUR/USD joined GBP/USD’s continuing sliding Friday as data showed that UK gross domestic product (GDP) shrank by 0.1% over quarter in the second three months of the year, less than the 0.3% contraction expected. Both Pound and euro are lower against the Dollar currently. Both USD/JPY and AUD/USD continued their climbing Friday with the yen higher against the Greenback currently and Australian dollar lower.





Stock Market news​



Indices Change
Dow Jones Index -0.19%
Nikkei Index +0.17%
Hang Seng Index -0.45%
Australian Stock Index -0.14%


Futures on US equity benchmarks are down currently after US stocks closed higher on Friday following the University of Michigan report showing consumer sentiment improved in August. The three main US stock benchmarks recorded daily gains ranging from 1.3% to 2.1%.

European stock indexes futures are mixed currently after ending up on Friday with travel and leisure shares leading gains. Asian indexes futures are mixed today with Hong Kong’s Hang Seng Index leading losses despite China's central bank cutting key lending rates after Chinese data showed retail sales and industrial output both rose by less than expected in July.





Commodity Market news​



Commodities Change
Brent Crude Oil -1.14%
WTI Crude -1.5%


Brent is extending losses today weighed by disappointing Chinese data. Oil prices ended lower on Friday on expectations that supply disruptions in the US Gulf of Mexico would be short lived. On Thursday, top US Gulf of Mexico oil producer Shell said it halted production at three deep-water platforms. And the energy services firm Baker Hughes reported US active oil rigs count, an early indicator of future output, rose by three to 601 last week. West Texas Intermediate (WTI) futures fell 2.4% and is lower currently. Brent crude lost 1.5% to $98.15 a barrel on Friday.





Gold Market News​



Metals Change
Gold -0.81%


Gold prices are edging down today. Prices ended higher on Friday: spot gold gained 0.7% to $1801.97 an ounce.