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Economic Updates
Less hawkish Fed stems equity losses after UK CPI shock
US equites finished lower on Wednesday after a double digit CPI figure out of the UK saw traders ramping up their hawkish central bank pricing. The July FOMC minutes released late in the session softened the blow somewhat on the back of some participants noting the risk that the Fed could tighten more than necessary, this was seen as dovish, or mor...
August 18, 2022
Read More > US Indices hit three-month highs on solid Walmart earnings, meme stocks pump and dump
US got off to a flying start in Tuesdays session after retail giant Walmart (WMT.NYSE) reported much better results and forward guidance than the recently lowered expectations of analysts, sending the stock soaring over 5%, and dragging the whole consumer discretionary sector with it. See Analyst Klavs Walters Walmart report for an in depth view...
August 17, 2022
Read More > Walmart tops expectations for Q2 – the stock is up
Walmart tops expectations for Q2 – the stock is up Walmart Inc. (WMT) announced its Q2 financial results before the market open on Wall Street on Tuesday. World’s largest supermarket chain reported results that exceeded analyst expectations, sending the stock price higher. The company reported revenue of $152.859 billion (up by 8.4% ye...
August 17, 2022
Read More > Oil continues its sell-off as it drops after weaker Chinese and US economic figures
Oil has continued its tumble from its March 2022 high of $131 per barrel down to $82 a barrel. The drop has been in response to weak economic figures from China and the USA which has added to the recessionary anxiety gripping the market. Furthermore, as Iran edges closer to a nuclear deal, the removal of economic sanctions on the country may be ...
August 16, 2022
Read More > The week ahead –RBNZ, RBA and FOMC in the spotlight and set to drive the AUD, NZD and USD
US equity markets finished off the week with a blockbuster of a session, pushing all the major indices to a 4th straight week of gains with the growth heavy Russell 2000 (+4.93%) outperforming the “Value” Dow (+2.92%) hammering home that risk on was the overriding narrative of the week. This was the first time since November 2021 that the b...
August 15, 2022
Read More > USDJPY provides potential trade after holding a key Fibonacci level
The USDJPY has been in an extremely strong upward trend since September 2021. This pair's recent price action has also been charactarised by relatively weak retracements as it has trended higher. Inflationary pressures have acted as a strong catalyst for the USD against most other currencies further aided by the Federal Reserve taking a strong stan...
August 12, 2022
Read More > US stocks give up early gains as bulls fail to hold key support and yields rise
US indexes finished mixed with early gains on a post CPI honeymoon and a soft PPI were erased during the session as investors realised they may have become too optimistic about a Fed pivot, with the drift lower in risk coinciding with a sharp rebound in bond yields. The closely watched 50% fib retracement level from the January all-time high to ...
August 12, 2022
Read More > Buying opportunity on the GBPAUD
Buying opportunity on the GBPAUD A short/medium term trading opportunity has arisen on the GBPAUD. The Pound has been weakening after the Bank of England came out last week and forecast that the economy would fall into a 15 month recession later this year. Whilst the bearish sentiment was somewhat of shock it was not totally unexpected...
August 12, 2022
Read More > Coinbase reports disappointing results for Q2 – the stock is falling
Coinbase Global Inc. (COIN) released its financial results for Q2 after the market close in the US on Tuesday. The company reported revenue that fell short of Wall Street expectations at $808.325 million for Q2 vs. $873.82 million expected. Coinbase reported a loss per share of -$4.98 per share vs. -$2.47 loss per share expected. ''Q2 was ...
August 10, 2022
Read More > US equities and bonds drop ahead of key US CPI figure and Rate-hike odds rise
US equitiy markets were jittery on Tuesday as traders await todays closely watched inflation figures out of the US. All major Indices declined with the rate and risk sensitive Nasdaq taking the biggest hit dropping 1.2%, selloffs in heavyweight Tesla (TSLA) and Nvidia (NVDIA) created further pressure for the tech index. Todays core and headlin...
August 10, 2022
Read More > Bitcoin showing signs of a reversal.
Bitcoin has seen a large tumble in its price since it reached its peak of 70,000 USD, however there are signs that the price may be ready to break out of its downtrend. Background With rising inflation and a tense geopolitical climate, growth equities and risk assets have felt the pinch and Bitcoin has been right in ...
August 9, 2022
Read More > Four Australian Stocks to Watch
Today, we are going to be looking at some Australian stocks to watch, there has been positive activity in the Australian market over the last couple of weeks, after a fresh round of bank earnings and stronger than expected retail data helped major U.S. indices pare recent losses. So, there’s plenty of activity to discuss, however, we are going to...
August 8, 2022
Read More > BNPL sector showing signs of a reversal after monstrous selloff
The Buy Now Pay Later, (BNPL) sector has seen a resurgence after a long and brutal sell-off. The reason for, much of the resurgence is not related to any specific catalyst but rather, changing sentiment within the broader market. The sector rose significantly before and during the Covid-19 pandemic. However, as the pandemic came...
August 8, 2022
Read More > Cyclical assets stumble on hawkish Fedspeak and BoE recession forecast
US stock Indices were mixed and ultimately little changed overnight with growth concerns taking centre stage after the Bank of England’s sustained recession forecast and Fed governor Mester again reiterating the central banks resolve in bring down inflation. Mester stated that she sees it as not unreasonable to see a 75bps hike in September and e...
August 5, 2022
Read More > Alibaba posts better-than-expected results
Alibaba Group Holdings Limited (BABA) reported its latest financial results before the market open on Thursday. The Chinese e-commerce giant reported revenue of $30.689 billion for the quarter vs. $30.364 billion expected. Earnings per share were reported at $1.75 per share vs. $1.60 per share expected. Daniel Zhang, Chairman and...
August 5, 2022
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