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Fundamental Analysis
Fundamental Analysis from IFC Markets
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[QUOTE="IFC Markets, post: 204631, member: 18359"] [HEADING=1]Stocks fall after US inflation spike - 11.2.2022[/HEADING] [HEADING=1]Todays’ Market Summary[/HEADING] [LIST] [*]The Dollar strengthening is intact [*]Futures on three main US stock indexes are retreating [*]Brent is extending losses. [*]Gold prices are edging down [/LIST] [HEADING=1]Top daily news[/HEADING] Equity index futures are mostly falling currently following a drop on Wall Street Thursday triggered by US inflation jump to 40-year high. Apple stock dipped 2.34% underperforming market, Tesla shares dropped 2.93% Thursday amid news the EV maker is delaying more Model X orders as Elon Musk admits to problems in the production ramp. [HEADING=1]Forex news[/HEADING] [TABLE] [TR] [TD] Currency Pair[/TD] [TD] Change[/TD] [/TR] [TR] [TD] EUR USD[/TD] [TD] -0.37%[/TD] [/TR] [TR] [TD] GBP USD[/TD] [TD] -0.24%[/TD] [/TR] [TR] [TD] USD JPY[/TD] [TD] -0.1%[/TD] [/TR] [TR] [TD] AUD USD[/TD] [TD] -0.54%[/TD] [/TR] [/TABLE] 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, added 0.1% Thursday as the US Labor Department reported consumer prices surged 7.5% over-year in January, the biggest annual increase in inflation in 40 years. Both EUR/USD and GBP/USD continued their climbing yesterday. Euro and Pound are lower against the Dollar currently. USD/JPY resumed its climbing yesterday while AUD/USD reversed its advancing with the Australian dollar lower against the Greenback currently and yen higher. [HEADING=1]Stock Market news[/HEADING] [TABLE] [TR] [TD] Indices[/TD] [TD] Change[/TD] [/TR] [TR] [TD] Dow Jones Index[/TD] [TD] -0.9%[/TD] [/TR] [TR] [TD] Nikkei Index[/TD] [TD] +0.4%[/TD] [/TR] [TR] [TD] Hang Seng Index[/TD] [TD] -0.12%[/TD] [/TR] [/TABLE] Futures on three main US stock indexes are retreating currently ahead of the preliminary University of Michigan consumer sentiment report at 16:00 CET today. US stock market ended the winning run Thursday after St. Louis Federal Reserve Bank President James Bullard said he now wanted a full percentage point of interest rate hikes by July 1 as the data had made him "dramatically" more hawkish. The three main US stock benchmarks recorded daily losses in the range of 1.5% to 2.1% led by tech stocks. European stock indexes are down currently after closing lower Thursday led by tech shares. Asian indexes are mostly in red today with Australia’s All Ordinaries ASX 200 Index index leading losses. [HEADING=1]Commodity Market news[/HEADING] [TABLE] [TR] [TD] Commodities[/TD] [TD] Change[/TD] [/TR] [TR] [TD] Brent Crude Oil[/TD] [TD] -0.15%[/TD] [/TR] [TR] [TD] WTI Crude[/TD] [TD] -0.06%[/TD] [/TR] [/TABLE] Brent is extending losses. Prices ended mixed yesterday as the Organization of Petroleum Exporting Countries said world oil demand might rise even more steeply this year as the global economy posts a strong recovery. The US oil benchmark West Texas Intermediate (WTI) gained 0.3% but is lower currently. Brent crude lost 0.2% to $91.41 a barrel on Thursday. [HEADING=1]Gold Market News[/HEADING] [TABLE] [TR] [TD] Metals[/TD] [TD] Change[/TD] [/TR] [TR] [TD] Gold[/TD] [TD] -0.02%[/TD] [/TR] [/TABLE] Gold prices are edging down today. April gold added less than 0.1% closing at $1837.40 on Thursday, up five sessions in a row and the longest streak of gains since November. [/QUOTE]
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