- Trading
- Trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Volume rebates
- Open account
- Try free demo
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- MetaTrader copy trader
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- PAMM
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
- Trading
- Trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Volume rebates
- Open account
- Try free demo
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- MetaTrader copy trader
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- PAMM
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
- Home
- News & Analysis
- Economic Updates
- Wall st rallies on tech lead, ECB turns hawkish, kind of
- Home
- News & Analysis
- Economic Updates
- Wall st rallies on tech lead, ECB turns hawkish, kind of
News & AnalysisNews & AnalysisTech stocks led US equities higher overnight, the Nasdaq rallied 1.3% making it three up sessions on the trot, led by tech heavyweights Amazon (AMZN) and a blockbuster session from Tesla (TSLA) which finished up almost 10% after a positive earnings report.
Weak US figures saw a drop in Treasury yields as rate hike expectations took a dovish dive, pressuring the greenback and pushing the US Dollar index under the 107 handle, another headwind for DXY was the ECB’s hawkish rate hike.
While most market analysts expected the ECB to go through with their long telegraphed 25bp hike, there was some pricing in of a 50, resulting in in a fairly muted rally in EUR, which quickly retraced as the accompanying forward guidance was changed to a “meeting-by-meeting” approach. This is a more dovish tone as compared with the aggressive forward guidance from the June meeting.
The big mover in the commodity space was crude oil, tumbling around 3% as demand fears eased somewhat and an improving supply outlook, sending WTI oil back under the $100 a barrel level.
Looking forward, corporate earning out of the US will be the big driver in US equities, while PMI figures out of Europe, the UK and the US later today should see some FX moves in their respective currencies.
Ready to start trading?
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
The Week Ahead – The FOMC, inflation and growth all in the spotlight
After a turn around in equity markets last week, where the S&P 500 was up over 2%, The Federal reserve will take centre stage this week along with a slew of inflation and growth figures coming out of developed economies looking to set the market tone. It’s a big week ahead for the US with the July FOMC meeting being the highlight, but also...
July 25, 2022Read More >Previous Article
Philip Morris exceeds Q2 expectations – the stock gains
Philip Morris International Inc. (PM) reported its second quarter financial results before the market open on Wall Street on Thursday. World's larg...
July 22, 2022Read More >News and Analysis
Join our mailing list to receive market news and monthly newsletters, delivered directly to our inbox.