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Economic Updates
What is going on with Taiwan?
What is going on with Taiwan? Taiwan is back in the news after US speaker of the house Nancy Pelosi visited the country causing a fiery reaction from the mainland of China. Historical background In order to understand the causes of the China/Taiwan tension, some historical perspective is needed. The current te...
August 4, 2022
Read More > USDJPY ready to bounce or retrace further.
USDJPY ready to bounce or retrace further. The USDJPY has been recently provided great buying opportunities for traders. However, in recent days it has posted its largest drop since beginning the current upward at the beginning of January 2021. The question remains, is this just a standard retracement or is it a symbol of a much bigger...
August 3, 2022
Read More > Volatile US session as risk assets decline on a Fed “re-pivot” and US-China tensions
US equities had a volatile and ultimately negative session as an early rally faded dramatically on the back as a combination of hawkish Fed member comments and geopolitical tensions saw risk assets take a dive. It was a classic risk off session that saw equities, crypto and cyclical currencies take a hit and the safe haven USD rally strongly. Bo...
August 3, 2022
Read More > Reserve Bank of Australia hikes Cash Rate by 0.50%
The Reserve Bank of Australia, (RBA) has increased the Country’s cash rate by half a percent to combat the rising inflation in its latest cash rate change. The increase was in line with most analyst’s expectations as the RBA continues to fight inflation and bring it back into the 2-3% range. The current forecast from the RBA...
August 2, 2022
Read More > NIO latest delivery numbers announced – the stock is up
NIO Inc. (NIO) reported its latest delivery numbers for July on Monday. The Chinese electric vehicle company delivered 10,052 cars last month – an increase of 26.7% year-over-year. The deliveries in July consisted of: 7,579 premium smart electric SUV’s 2,473 premium smart electric sedans NIO has delivered a total of 227,949 ele...
August 2, 2022
Read More > The week ahead – Central banks, NFP star in a busy calendar, will bad news be good news?
Market sentiment continued to improve in the past week with equity markets rallying as traders pared back on bets on the extent of the Federal Reserves rate hike path. Corporate earnings also buoyed the markets with the likes of Amazon and Apple having bumper gains on Friday after their results were released. Looking ahead, a very busy calendar ...
August 1, 2022
Read More > ExxonMobil exceeds analyst estimates for Q2 – the stock gains
ExxonMobil Corporation (XOM) reported its second quarter financial results before the opening bell on Wall Street on Friday. The oil and gas giant topped Wall Street expectations for the second quarter of 2022. The company reported revenue of $115.681 billion vs. $111.302 billion expected. Earnings per share reported at $4.14 per share vs....
August 1, 2022
Read More > US dollar drops as the economy shrinks by 0.9% for the last quarter.
US economic data revealed last night shows that the country’s GDP has shrunk by 0.9%, although some are remaining positive that a recession may still be avoided. Despite the worrying figures, Federal Reserve Chair, Jerome Powell, outlined his belief that due to low unemployment figures of 3.6% and a strong market for jobs with 11 million job open...
July 29, 2022
Read More > Mastercard beats Wall Street expectations
Mastercard Incorporated (MA) reported its latest financial results before the opening bell on Wall Street on Thursday. The US financial services company reported revenue of $5.497 billion in Q2, beating analyst estimate of $5.267 billion. Earnings per share reported at $2.56 per share vs. $2.36 per share expected. ''We had strong...
July 29, 2022
Read More > Equities, gold, crypto and oil soar, Dollar dumps as Powell tilts dovish
As expected, the Federal reserve hiked rates 75bp on Wednesday as the Fed battles to control record inflation whilst attempting to avoid a deep recession. Markets were relatively behaving as expected on the decision and statement up until the Fed chair Powell’s presser anyway. Whilst Powell reiterated the Feds mission to tame inflation stateme...
July 28, 2022
Read More > Australian CPI figures increase to 6.1%
The Australian Consumer data was released today with Consumer Price Index rising to 6.1% over the past 12 months. For the quarter, the CPI rose by 1.8% which was 0.1% lower then what analysts expected the figure to be. This was also lower then the 2.1% jump seen in the previous March quarter. The most significant contributors to the increase were n...
July 27, 2022
Read More > Microsoft falls short of expectations
Microsoft Corporation reported its fiscal fourth-quarter financial results after the closing bell on Wall Street on Tuesday, missing analyst estimates for the quarter. The company reported revenue of $51.9 billion (up by 12% year-over-year) vs. $52.384 billion expected. Earnings per share reported at $2.23 per share (up by 3% year-over-year) ...
July 27, 2022
Read More > Coca-Cola tops estimates in the second quarter – the stock gains
The Coca-Cola Company (KO) reported its latest financial results for the second quarter before the opening bell in the US on Tuesday, beating Wall Street expectations for the quarter. World’s largest beverage producer reported revenue of $11.325 billion (up by 12% year-over- year) vs. $10.565 billion expected. Earnings per share reported at...
July 27, 2022
Read More > Wall St tumbles on recession fears, the Fed in focus
US equities sold off throughout the session in risk-off trading with a backdrop of corporate warnings from heavyweights Walmart (WMT) and McDonalds (MCD) , weak economic figures and a downbeat tone from Europe as their gas squeeze continues. A larger than expected decline in U.S consumer confidence, down for a third straight month, saw the narra...
July 27, 2022
Read More > Tech and Bitcoin drop, Oil and Gas jump in mixed US session
US stocks were mixed in a quiet session, the Dow and S&P 500 eked out small gains whilst against a backdrop of a the Federal Reserve meeting on Wednesday, the Tech heavy Nasdaq saw a modest decline. With a news quiet Monday behind us, there is a full calendar ahead with a slew of corporate earnings and of course the big one, the FOMC policy ...
July 26, 2022
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