Articles

Trade from an informed place. We cover news, political events and market analysis plus product updates.

Articles

Trade from an informed place. We cover news, political events and market analysis plus product updates.

Deere & Company tops estimates

American manufacturer of farm machinery and industrial equipment Deere & Company (NYSE:DE) announced the latest financial results for the quarter ending January 29, 2023, before the market open in the US on Friday. Revenue was reported at $12.652 billion for the quarter (up by 32% year-over-year) vs. $11.337 billion expected. Earnings per...

February 18, 2023
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Why did the CBA share price sink 5%?

Australia’s biggest lender has suffered a dropped in price the last few days. Shares in the bank fell as much as 5.7% in early trading in Sydney while the broader market (.AXJO) fell 1.0%, amid concerns of a weaker mortgage business in the high interest rate environment and the bank's lending margins peaking. Key points Brokers thin...

February 17, 2023
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Hot PPI and Hawkish Fed Speak Hit Stocks, Gives USD a Boost

A hotter than expected PPI figure combined with hawkish statements from Fed members and a fall in jobless claims saw risk assets take a hit in Thursdays US session. Headline PPI came in at an increase of 0.7% month on month (0.4% expected) while a drop in unemployment claims showed how resilient the US economy is despite the Feds recent tighteni...

February 17, 2023
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Strong breakout potential on the EURJPY

The EURJPY has been trading under the 142.70 resistance area since the end of December 2022. With the price failing to break through over several occasions, the recent weakness in the Japanese Yen has seen the EURJPY trade beyond the resistance level, signaling the potential for a significant move to the upside. The recent weakness in the Japane...

February 17, 2023
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Cisco results announced – the stock gains

US telecommunications giant Cisco Systems Inc. (NASDAQ:CSCO) announced the latest earnings results for the fiscal Q2 ending January 28, 2023, after market close in the US on Wednesday. Cisco beat revenue and earnings per share estimates for the quarter, sending the stock higher. The company reported revenue of $13.592 billion (up by 7% year-o...

February 17, 2023
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US Dollar Index technical and fundamental analysis

US Dollar Index Fundamental Analysis A hard-fought tug-of-war between bulls and bears played out on the DXY Index after U.S. inflation data crossed the wires. A knee-jerk reaction caused the greenback to plunge, but eventually it was able to recover and move into positive territory due to higher Treasury yields (DXY +0.10% to 103.41). However...

February 16, 2023
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Barrick Gold Q4 results beat estimates

Barrick Gold Corporation (NYSE:GOLD) released the latest financial results for Q4 2022 on Wednesday. The Canadian mining company beat both revenue and earnings per share (EPS) for a second consecutive quarter. Barrick Gold reported revenue of $2.726 billion for the quarter vs. $2.674 billion expected. EPS reported at $0.128 per share vs. $...

February 16, 2023
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Airbnb sets a new Q4 record – the stock is up

Airbnb Inc. (NASDAQ:ABNB) announced Q4 2022 and 2022 full year financial results after the market close in the US on Tuesday. World’s second largest travel company reported revenue of $1.902 billion (up by 24% year-over-year), beating analyst estimate of $1.861 billion. The revenue reported was the highest for a Q4 in Airbnb’s history. ...

February 15, 2023
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US stocks rally on light news day ahead of CPI figures

US stocks gained throughout the session as they turned risk on ahead of Tuesday’s CPI figure which is expected to show a moderating of inflation causing investors to hope of a less aggressive Federal Reserve going forward. Tech led gains as the sector most sensitive to market sentiment, the Nasdaq finishing up 1.48% with the Dow and S&P 500 n...

February 14, 2023
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Navigating the US CPI data release

The Federal Reserve's latest decision to hike rates by 25bps, taking the US Federal Funds Rate to 4.75%, saw the DXY trade lower from the 101.70 price level, down to a low of 100.82. This move lower was primarily due to comments from Fed Chair Powell, indicating that the disinflation process has started and that he expects significant declines in i...

February 14, 2023
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Uber posts better-than-expected Q4 results – the stock is rising

Uber Technologies Inc. (NYSE:UBER) announced Q4 2022 financial results before the market open on Wall Street on Wednesday. The US company posted better-than-expected results for the quarter, beating both revenue and earnings per share (EPS) forecasts. Uber reported revenue of $8.607 billion (up by 47% year-over-year or 59% in constant currenc...

February 9, 2023
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Where to next for the USDJPY?

The stronger-than-expected US non-farm employment change data release last week saw the DXY climb strongly higher, beyond the 103 price level. With markets now anticipating that the US Federal Reserve could reinforce its hawkish stance, further upside is expected for the DXY. On the other hand, uncertainty rises over the Bank of Japan’s (BoJ) ...

February 7, 2023
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Gold Reverses from 1960 following strong US NFP data

Gold had been on a steady rally to the upside with the price climbing along the bullish trendline from the 1620 price level in November 2022 to reach a high of 1960 in February 2023. This move higher was driven by general market anticipation that the US Federal Reserve would pivot on its current monetary policy, slowing down or pausing future inter...

February 6, 2023
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“Deflationary process has begun” as Federal Reserve increase Funds rate by 25 bps

The US equities market has had a sharp rise to end the trading session as the Federal Reserve announced a 25-bps interest rate rise. Whilst the market had mostly priced in the 25-bps rise, it was the associated commentary that gave the market a boost. Fed Chairman, Jerome Powel made it clear in his statement and press conference that the Fed is ...

February 2, 2023
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EUR looking to continue its bullish trend ahead of FOMC and ECB meeting

The EUR has been on a run since it bottomed in September 2022. From that time, the price is up almost 15% and is currently trading at 1.0863. However, with important economic data to come out of the USA and the next interest rate decision from both the ECB and the Federal Reserve coming out in the next few days the market may find some more directi...

February 1, 2023
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