The US midterm elections are coming up next week on 8 November and have the potential to have a big say on the direction and volatility of the US and global markets. All the 435 seats in the House of representatives will be decided upon. Currently, the makeup of the house includes 220 Democrats, 212 republicans and 3 vacant seats. The ...
Bitcoin, the currency of tomorrow, a new age currency, has seen some severe ups and downs over the last few years. From reaching highs of nearly 70,000 dollars to dropping to lows of 17,000 the volatility and action around the cryptocurrency has been startling. Even compared to other traditional currencies the range and volatility of the price has ...
Another day, another hike. On Wednesday, the US Federal Reserve announced its latest policy decision to raise its interest rates from 3.25% to 4%, to its highest level since January 2008. On Thursday, it was the Bank of England's turn to announce its decision. As expected, the central bank raised its interest rates by 0.75% to 4%. It was the hig...
US equites had a wild ride over night, A strong ADP jobs report was indexes track lower at the start of the session (Good news is bad news!) only to have a euphoric lift after the FOMC statement which traders took as a dovish pivot from the Fed, only to have the party ruined by Jerome Powell’s press conference where he poured cold water on that i...
Airbnb Inc. (NAS:ABNB) reported its latest financial results after the closing bell in the US on Tuesday. World’s second largest online travel company beat both revenue and earnings per share (EPS) estimates for the quarter. Revenue reported at $2.884 billion (up by 29% year-over-year) vs. $2.852 billion expected. EPS at $1.79 per share ...
The ASX200 has seen some positive price action in recent weeks as the Australian equities market has benefited from relatively weaker inflation then much of the rest of the world. With the Reserve Bank of Australia, (RBA) only increasing interest rates by 25 bps at each of its last two meeting, the country’s central bank has seemingly chosen that...
US stocks slid in a choppy session where a positive open soon sold off sharply on the back of a positive JOLTS report sparking a “good news is bad news” reaction in equity markets. The JOLTS survey showed that job openings surged in September, rising to 10.72 million, well above the expected 9.85 million, this saw rate hike odds soaring ahea...
Shares of Pfizer rise as Q3 earnings beat estimates Pfizer Inc. (NYSE:PFE) reported its latest financial results for the third quarter before the opening bell on Tuesday in the US. The US pharmaceutical company reported revenue of $22.638 billion (down 6% year-over-year) vs. $21.072 billion expected. Earnings per share reported at $1.78 pe...
NIO Inc. (NYSE:NIO) reported its latest delivery numbers for October on Tuesday. The Chinese electric vehicle company delivered 10,059 cars last month – up by 174.3% year-over-year. The deliveries in October consisted of: 5,979 premium smart electric SUV’s 4,080 premium smart electric sedans Production and deliveries were impac...
NIO Inc. (NYSE:NIO) reported its latest delivery numbers for October on Tuesday. The Chinese electric vehicle company delivered 10,059 cars last month – up by 174.3% year-over-year. The deliveries in October consisted of: 5,979 premium smart electric SUV’s 4,080 premium smart electric sedans Production and deliveries were impac...
Retail sales play a fundamental role in shaping the economic landscape of any country. These sales represent the culmination of consumer demand for finished products, serving as a barometer for economic health and a predictor of market trends. In the United States, this vital metric is meticulously tracked and reported monthly by the U.S. Census Bu...
CPI is a globally recognised economic indicator used by many countries to measure inflation and assess changes in the cost of living for their citizens. It evaluates the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, such as food, clothing, rent, healthcare, entertainment, and tran...
With the bulls fully in charge, global markets head into the first week of November with one of the most important economic calendars we’ve seen this year to look forward to. Risk-on has certainly been the narrative in October so far, with the Dow Jones index surging 5.89% last week, up 14.4% for October and on track, coming into its last trad...
The EUR has been rebounding strongly on the back of being sold off for much of the year. With inflation at record highs and a cost of living and energy crisis, the currency has become extremely weak, even dropping below parity with the USD. However, in recent week, the EUR has begun putting in a bottom. The ECB last night decided to raise their off...
Stop loss hunting is frustrating, annoying and can be detrimental to any retail trader. The premise of stop hunting is that large systemised institutional trading strategies know where the average retail trader or most traders will set stop losses and therefore profit off triggering these ‘stops. Their own algorithm will then deliberate...