In Asian markets, Japan's Nikkei is up 10% this morning after a historic drop, while Wall Street futures also show stability. San Francisco Fed President Mary Daly calms recession fears, boosting confidence in the direction of inflation. However, investors are cautious, waiting for more signals from central banks.
The European STOXX 600 index is up 0.4% this...
Japanese Yen:
• The yen has strengthened as a safe-haven currency amid economic uncertainty.
• Foreign investors are withdrawing from Japanese markets, seeking safety in yen-denominated assets.
Nikkei 225:
• The Nikkei 225 recently fell by 5.5%, dropping 26.25% from the July highs, indicating a possible bear market.
• Contributing factors include...
Nasdaq futures yesterday fell to 1.6% in early U.S. trading. They closed lower on the weak ISM manufacturing report, increasing fears of a possible recession. Investors concerned about the country's economic health and possible moves by the Federal Reserve sent the Nasdaq Composite down -4.20% yesterday and -5.91% posting morning premarket.
Apple's results beat...
For almost a month now, the pair has lost up to 4.67% since its July 11 high. The short-term trend is clearly bearish.
However, the pair has returned to attractive price levels. The pair is now evolving within the triangle in which it has been for several days. This reintegration, after forming a low at 0.6478, could pave the way for a buying rally if buyers...
Shell reported a 19% drop in second-quarter earnings to $6.3 billion due to lower margins in refining and oil and gas marketing. Despite the decline, it beat analysts' forecasts, who had expected $6 billion. The British company also announced a $3.5 billion share buyback over the next three months and maintained its dividend at 34 cents per share. Adjusted...
The Bank of Japan (BOJ) raised interest rates to 0.25%, dismantling a decade of monetary stimulus. This adjustment, accompanied by a plan to reduce monthly bond purchases to 3 trillion yen by 2026, is due to improvements in inflation and consumer spending, supporting the BOJ's forecast of 2% annual inflation.
Simultaneously, the US Federal Reserve (Fed) concludes...
Having traded in a daily range for several weeks/months now, Germany's most famous index has seen its medium-term trend remain neutral.
However, the symmetrical triangle, a pattern much appreciated by traders, has been forming on the index for several days now, providing a clear indication of the supports and resistances offered by the price action.
At the time...
Amid global volatility, the consensus of market analysts show confidence in the Ibex 35, with only 8% of recommendations to sell, the lowest figure in two decades. Despite recent corrections, more than 58% of recommendations suggest buying, and the index has upside potential of 15%, according to Bloomberg and FactSet. The Ibex 35 reached 11,476 points in June this...
Despite a drop of almost 10% from the all-time high of 99 reached on 10 July 2024, the pair's long-term trend remains bullish.
However, a break of the medium-term uptrend line could open the door to a much larger correction and threaten the uptrend.
The price is currently in a key support zone at 90.186 - 90.763. This zone has been worked by both buyers and...
Asian stock markets rallied on Monday, boosted by expectations of possible rate cuts from the Federal Reserve. The technology sector led the gains, with Japan's Nikkei 225 rising 2.2%, and South Korea's KOSPI and Hong Kong's Hang Seng up about 1%. A solid close on Wall Street and signs of slowing inflation in the U.S. also benefited Asian markets. However, Chinese...
The US technology index saw its price reach 20,771 points for the first time since its inception.
The long-term uptrend is clearly identifiable since the January 2023 rally. Technically, it remains intact, with breakouts and retests at every key price level.
At the time of writing, few hours to go before the weekend and a few days to go before the end of the...
Gold prices rose 0.3% to $2,371.23 per ounce in Asian trading on Friday, with August futures up 0.7% to $2,369.90. However, gold had a weekly decline of 1.2% due to a strong dollar and expectations of higher interest rates. The gold price has corrected -5.33% since July 17.
Gold has hit record highs in July, but then pulled back following profit taking and...
LVMH, the luxury giant, reported a 14% drop in its 1H2024 profit, disappointing analysts and dragging down the luxury sector. This caused the Cac 40, the French stock market's benchmark index, to lose more than 1%, led by LVMH's drop of more than 6%. Other luxury giants such as Kering, Hermès, Pernod Ricard and L'Oréal also suffered losses.
This weakness in the...
After a bullish rally of several consecutive days, which saw the index reached a new all-time high of 41,415 points, the US industrial index has seen a slight correction. With the short- to medium-term uptrend remaining intact, market operators will have to focus on the 40,000-point zone, a former all-time high that has given buyers a hard time for several...
The big tech companies present their results this week. Alphabet and Tesla open today, followed by Microsoft, Amazon, Apple and Meta. These giants drove Wall Street's growth, but now face competition from smaller companies, helped by the Fed's rate cuts.
The Nasdaq 100 fell 3.98% last week, and analysts suggest that without solid results, tech stocks could...
Banco Sabadell reported a record net profit of €791 million in the first half of 2024, up 40.3% year-on-year, beating analysts' expectations. The bank increased its promised dividend by 21%, committing to distribute €2.9 billion between 2024 and 2025, in response to BBVA's hostile takeover bid. Return on tangible equity (RoTE) rose to 13.1%, and the top-quality...
🇺🇸🗳️ Elections 2024: Impact of the ACA on Health Care and Insurance💊 📊
Hello Traders,
The U.S. elections are keeping the financial market in a state of uncertainty, especially the insurance and healthcare sector. Analysts are keeping an eye on subsidies for the Affordable Care Act (ACA), which will expire next year.
• Republican Scenario: If the...
- Similarly to our previous analysis on USDJPY, the CADJPY pair has been trading above a bullish trend line for 7 months ; the mid-term trend was bullish.
- Since the impact around 118.85, the market has registered a sharp pull-back that first led prices back to their bullish trend line around the 23.6% Fibonacci support above 115.385, before a bearish break-out...
