Daily Market Analysis - THURSDAY JULY 13, 2023Key News:
UK - GDP (MoM) (May)
USA - Initial Jobless Claims
USA - PPI (MoM) (Jun)
Despite relinquishing some of its gains, the Dow Jones Industrial Average concluded Wednesday's trading session on a higher note. This positive finish was primarily attributed to a decline in Treasury yields and a surge in the tech sector, fueled by data indicating the slowest inflation increase in more than two years. The market sentiment has been uplifted by optimism that the forthcoming rate hike, scheduled for later this month, could potentially mark the conclusion of the tightening cycle.
The Dow Jones Industrial Average experienced a 0.25% climb, translating to a gain of 86 points. Meanwhile, the Nasdaq witnessed a robust increase of 1.2%, and the S&P 500 displayed a notable rise of 0.74%.
DJI indices daily chart
Nasdaq indices daily chart
S&P500 indices daily chart
In June, the consumer price index (CPI) registered a modest uptick, rising by 0.2% following a 0.1% increase in May. Additionally, the annual inflation rate eased from 4% to 3%, reaching its lowest point since March 2021. These figures suggest a reduced level of price pressures in the economy.
While there remains an expectation that the Federal Reserve will proceed with a rate hike later this month, the outlook for additional rate increases beyond July becomes less certain. The uncertainty stems from the possibility of upcoming economic data revealing a continued deceleration in inflation.
US Consumer Price Index (CPI)
Jefferies, in a recent note, highlighted the importance of upcoming economic indicators in determining the trajectory of rate hikes. If indicators such as the Employment Cost Index on July 28, along with employment and inflation data released in August, continue to exhibit a slowdown similar to the recent Consumer Price Index data, it suggests that the rate hike scheduled for July could potentially mark the conclusion of the current cycle.
In line with this sentiment, major technology companies, including Google (NASDAQ: GOOGL), Microsoft (NASDAQ: MSFT), and Meta Platforms Inc (NASDAQ: META), experienced a rebound following a recent downturn. This recovery was fueled by a significant decline in Treasury yields, driven by the expectation that the Federal Reserve's rate hikes are nearing their conclusion.
GOOGL stocks daily chart
MSFT stocks daily chart
META stocks daily chart
Microsoft's shares surged by over 1% as the tech behemoth made significant strides in the completion of its $69 billion acquisition of Activision Blizzard Inc (NASDAQ: ATVI), the renowned game developer responsible for the popular Call of Duty franchise. The acquisition received a boost as a Federal judge dismissed the Federal Trade Commission's request to delay the deal, citing insufficient evidence to support claims of potential competition harm. This favorable development played a crucial role in driving Microsoft's strong performance in the market.
US Dollar Currency Index daily chart
The sell-off of the US dollar gained momentum after the release of the CPI data, leading to a rapid approach towards the 100 level on the dollar index. This consistent and significant movement has positive implications for global inflation dynamics. A weaker US dollar tends to drive down energy and raw material prices, which are often denominated in US dollars. Consequently, lower prices for these commodities can help alleviate inflationary pressures on a global scale. In contrast, a strengthening US dollar contributes to inflationary pressures worldwide. Therefore, the depreciation of the US dollar can provide relief in the face of such pressures.
EUR/USD daily chart
In the currency markets, notable movements were observed. The EUR/USD pair experienced a surge, reaching the 1.1150 level, indicating a strengthening of the Euro against the US dollar. Similarly, the GBP/USD pair surpassed the significant 1.30 level, signaling a rise in the British pound against the US dollar. Conversely, the USD/JPY pair extended its decline, falling below the psychological level of 140, implying a weakening of the US dollar against the Japanese yen. These fluctuations highlight the dynamic nature of the currency markets and the interplay between different currency pairs.
USD/JPY daily chart
The anticipated release of the Producer Price Index (PPI) figures for June today is expected to provide further insight into the global economy's disinflationary trend. Forecasts suggest a significant deceleration in the headline PPI, dropping from 1.1% in May to 0.4% in June. The core PPI is also projected to experience a more modest slowdown, declining from 2.8% to 2.6%.
The weakening figures from the PPI may have implications for future Consumer Price Index (CPI) data, indicating a continued disinflationary environment. This reinforces the notion that the forthcoming rate hike in the United States will likely be the final one in the current cycle.
In summary, the June PPI numbers are expected to confirm the prevailing disinflationary trend in the global economy. The projected slowdown in PPI figures suggests potential effects on future CPI data and supports the belief that the upcoming rate hike will be the last one.
Meta
Part 2 of 7 Mega Cap Tech | QQQ Sp500 & My YINN playsAs long as we have mega cap techs holding sideways and rest of the market breath catching up it is good for the bulls and we may continue to see grind up from the market overall.
- Very first step i want to see from the bears is an hourly downtrend for me to even pay attention to a short swing.
- entered YINN for lagger bull play.
Part 1 of 7 Mega Cap Tech | QQQ Sp500 & My YINN playsAs long as we have mega cap techs holding sideways and rest of the market breath catching up it is good for the bulls and we may continue to see grind up from the market overall.
- Very first step i want to see from the bears is an hourly downtrend for me to even pay attention to a short swing.
- entered YINN for lagger bull play.
META Price, Volume, Target, StopEntry: when price clears 276.57
Volume: with daily volume greater than 19.42M
Target: 306 area
Stop: Depending on your risk tolerance; 266.76 gets you 3/1 Risk/Reward.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
META: Channel Up will attempt to close the February 2022 Gap.META maintains the aggressive four month Channel Up on an overbought 1D timeframe (RSI = 73.991, MACD = 9.890, ADX = 37.410) that shows no signs of easing before the next Resistance and that is located at 328.00, which was the High of February 2nd 2022. After that the stock price plunged to 245 following the loss of investor confidence. It would appear that the rally won't stop until it closes at least that Gap. As a result we go on a short term buy, targeting the Resistance (TP = 328.00).
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"Never bet against Zuck" $META topping out hereThere are many people that think that NASDAQ:META will keep rallying here to new highs. I'm not one of them.
Lately I've been seeing people post "Never bet against Zuck." That tells me all I need to know about sentiment here at the highs.
Like many other assets, I think META has rallied due to a technical bear market bounce and is now losing steam.
We've either already put in a top here at resistance, or there is one more move slightly higher to $307.54 that will pull in the last of the holdouts that haven't invested yet before dumping on them.
I don't care about narratives, whether it's AI, threads, VR or whatever fundamental reason you can give a company for "needing to go up."
The reality is, it's all about market structure and what price action says. And to me, we're nearing a top that will take price back to below the previous low we hit last year.
Let's see how it plays out over the coming year.
Daily Market Analysis - TUESDAY JULY 11, 2023Key News:
UK - Employment Change 3M/3M (MoM) (May)
UK - Unemployment Rate (May)
Eurozone - ZEW Economic Sentiment (Jul)
USA - FOMC Member Bullard Speaks
USA - EIA Short-Term Energy Outlook
As the trading session unfolded on Monday evening, US stock futures exhibited a relatively limited range, maintaining a tight grip after three consecutive days of decline in major benchmark indices. Market participants eagerly anticipated the release of crucial inflation data and upcoming earnings reports, which held significant implications for the market trajectory.
During the session, mega-cap stocks failed to deliver substantial support. Tesla, a prominent player in the electric vehicle industry, experienced a decline of up to 2% in its stock value, reflecting the prevailing cautious sentiment. Similarly, Amazon, a global e-commerce behemoth, concluded the session with a decrease of over 2%, just ahead of its highly anticipated Prime Day event. Over the years, Prime Day has evolved into a widely recognized shopping extravaganza across various industries, serving as an important indicator of the willingness of US consumers to increase their online spending and their overall economic sentiment. The performance of Amazon's stock during this event provides valuable insights into the health of the e-commerce sector and consumer spending patterns.
TSLA stock daily chart
AMZN stock daily chart
In contrast to the aforementioned declines, Meta, formerly known as Facebook, witnessed a notable rise of 1.23% in its stock price during the session. This upward movement can be attributed to the success of its recently launched platform, Threads. Since its release, Threads has rapidly gained traction, accumulating an impressive user base of 100 million individuals. The platform's popularity and positive reception among users have contributed to the positive sentiment surrounding Meta's stock.
Adding to the favorable outlook for Meta, internet traffic data provided by Cloudflare revealed a substantial decrease in Twitter usage. This decline in Twitter's popularity further bolstered the positive sentiment surrounding Meta, as it indicates a potential shift in user preferences and a possible migration of users towards Meta's platforms.
Overall, Meta's stock performance during the session reflected the market's positive response to the success of Threads and the perception of a decline in Twitter's popularity, positioning Meta as a favorable investment option in the tech sector.
META stock daily chart
Yesterday, there was a notable increase in the amount of money invested in treasuries, causing the US 2-year yield to decrease by around 10 basis points. Surprisingly, even though there were predictions of a tough approach by the Federal Reserve, the US dollar unexpectedly plummeted below its long-standing upward trend line. Consequently, individuals with a pessimistic view on the dollar are now focusing on reaching the 100 level as their next objective.
USD/JPY daily chart
The dollar-yen pair experienced a significant drop below the 141 level and is now approaching the 50-day moving average (DMA) support, located around the 140 level. On the other hand, the EUR/USD pair rallied above the 1.10 mark, disregarding a sentiment index that suggests a faster deterioration in the Eurozone during July. The upcoming release of the German Consumer Price Index (CPI) is expected to confirm a recent increase in inflation, primarily driven by the positive impact of low-priced train tickets distributed by the government last year. However, the ZEW index is anticipated to reflect a worsening sentiment. While higher German inflation generally benefits the euro, it remains uncertain how much significance Christine Lagarde and her colleagues at the European Central Bank (ECB) attach to sentiment indicators.
EUR/USD daily chart
Despite the expectations of a more aggressive stance from the Federal Reserve, the US dollar continues to weaken. Simultaneously, the European Central Bank (ECB) is also expected to adopt a more hawkish approach. These factors combined could potentially lead to a further rise in the EUR/USD pair, with the possibility of reaching the 1.12 level.
Looking ahead to Tuesday, European stock markets are expected to open with gains, taking cues from the positive performance of Wall Street and Asian markets during the previous session. Market participants will closely analyze important data on German inflation and UK unemployment. The optimistic sentiment in Europe can be attributed to the strong finish of Wall Street, where the Dow Jones Industrial Average climbed over 200 points or 0.6%. This surge was influenced by signals indicating that the Federal Reserve was nearing the completion of its interest rate hike cycle for the year.
DJI daily chart
Asian markets saw mostly higher stock prices in early trading on Tuesday, and this positive trend is expected to carry over to European markets as well. The optimism follows comments made by several officials from the US Federal Reserve on Monday, suggesting that interest rates will need to be raised further to address inflation concerns, but also indicating that the tightening cycle is nearing its end.
Throughout the year, concerns have persisted that the Federal Reserve's aggressive measures to control inflation could potentially trigger a recession in the largest global economy, which greatly impacts global growth. These concerns have put pressure on markets worldwide.
In other news, the British pound exhibited a slight weakness after the release of a private sector survey highlighting a slowdown in wage growth and hiring pace in June. While recent data has shown limited evidence of this trend, the upcoming release of figures from the Office for National Statistics (ONS) today may provide further clarity, albeit with a lag.
GBP/USD Daily chart
Approximately a month ago, the UK witnessed a noteworthy development in the April wage numbers, which underscored the challenges faced by the Bank of England. The data revealed a surge in wage growth, reaching a record high of 7.2%, excluding the pandemic period. This significant increase led to a rise in UK 2-year gilt yields, surpassing the peaks observed in October of the previous year, following the ill-fated Kwarteng budget.
The sharp rise in wages in recent months has shed light on the Bank of England's failure to take timely action. Workers, already grappling with financial pressures from various sources, are advocating for larger pay raises to narrow the gap in real wages. The release of May's wage data today is unlikely to indicate a weakening in these upward pressures, as expectations suggest a growth rate of 7.1% for the three-month period ending in May.
Part 2 of 7 Mega Tech Stocks AnalysisAlthough QQQ closed flat today, lots of mega cap tech stocks formed daily downtrends, such as AMZN GOOGL AAPL, so we have to be open to QQQ having a slightly more pullback in the next coming days but breath in the market is really good today so its a good sign for the bulls as money rotates around.
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This is our view, its not trading advice.
Daily Market Analysis - FRIDAY JULY 07, 2023Key News:
USA - Average Hourly Earnings (MoM) (Jun)
USA - Nonfarm Payrolls (Jun)
USA - Unemployment Rate (Jun)
During Thursday's trading session, the Dow Jones Industrial Average recorded a decline as robust job market data sparked expectations of further interest rate hikes by the Federal Reserve. This development subsequently led to a surge in Treasury yields, which raised concerns among market participants. The Dow Jones Industrial Average experienced a notable decrease of 1.1%, resulting in a loss of 366 points. Similarly, the Nasdaq and the S&P 500 also faced declines of 0.8% and 0.8% respectively.
NASDAQ, SPX, and DJI indices daily charts
Amidst the broader market decline, Microsoft Corporation (NASDAQ: MSFT) bucked the trend and achieved a gain of nearly 1% driven by optimism surrounding its advancements in artificial intelligence (AI). Morgan Stanley, a prominent financial institution, expressed confidence in Microsoft's position within the software industry, particularly in relation to the projected $90 billion growth opportunity in generative AI by fiscal 2025. In light of this positive outlook, Morgan Stanley increased its price target on Microsoft from $355 to $415, indicating a favorable investment potential for the company.
Microsoft stock daily chart
Despite the launch of its Twitter competitor app called Threads and the announcement by Meta CEO Mark Zuckerberg that it had garnered over 30 million sign-ups since its recent introduction, Meta (formerly known as Facebook) faced a reversal of its early-day gains. The company's stock failed to maintain its upward momentum, and the gains dissipated as the trading session progressed. The market response to Threads and Meta's overall performance suggests that investors and traders may have reacted differently to the news, leading to the subsequent decline in the stock price.
Meta Platforms stock daily chart
In the Eurozone, inflation expectations for the medium term experienced a decrease in May. The gauge measuring the 12-month expectation dipped from 4.1% to 3.9%. Despite this decline, the long-term (three-year) inflation expectations, which hold greater significance for the European Central Bank (ECB), remained unchanged at 2.5%. This level is notably higher than the ECB's target inflation rate of 2%.
The latest flash core Consumer Price Index (CPI) estimates for June further strengthen the argument for proponents of tighter monetary policies within the ECB. These estimates provide substantial justification for those who advocate for a more stringent approach to monetary policy, given that inflationary pressures persist in the Eurozone.
The ECB, as the central bank responsible for maintaining price stability, closely monitors inflation expectations and aims to keep them in line with its target. The fact that long-term inflation expectations remain above the ECB's target suggests that there may be a need for increased vigilance and potential policy adjustments to curb inflationary pressures.
The divergence between medium-term and long-term inflation expectations underscores the complexity of managing inflationary dynamics in the Eurozone. The ECB will need to carefully assess economic data, including CPI estimates, to make informed decisions regarding monetary policy and strike a balance between supporting economic growth and maintaining price stability.
EUR/USD daily chart
Today, the economic calendar in the Eurozone is relatively light, implying that the movement of the EUR/USD exchange rate will primarily be influenced by the market's reaction to data releases from the United States.
The market's response to US data is of particular significance, as it has a notable impact on shaping the direction of the EUR/USD exchange rate. Positive data releases from the US could strengthen the US Dollar and potentially lead to a decline in the EUR/USD pair, while weaker-than-expected data could exert downward pressure on the US Dollar, potentially favoring an upward movement in the EUR/USD pair.
Additionally, the market remains highly sensitive to price-related developments. In this context, there is ongoing concern regarding the Bank of England's aggressive tightening expectations. Speculation suggests that the BoE could implement a significant 140 basis point increase in interest rates by January 2024. This projection, if realized, raises the possibility of a reassessment in the market. If investors revise their expectations and perceive the tightening as too aggressive or potentially detrimental to economic growth, it could pose downside risks for the British Pound. Consequently, the GBP/USD exchange rate could experience downward pressure.
GBP/USD daily chart
The EUR/GBP pair has witnessed a decline over the past two sessions; however, it may find support at its current levels and potentially make a move towards the 0.8600 mark once again. This shift in the pair's direction could be driven by the potential threat of a repricing of the previously overbought British Pound, influenced by the actions of the Bank of England.
The recent weakening of the EUR/GBP pair suggests that the Pound has gained strength against the Euro. However, the current levels may act as a support zone, potentially leading to a reversal in the pair's direction. If the support holds, it could provide an opportunity for the EUR/GBP pair to regain some ground and move towards the 0.8600 level.
The potential repricing of the Pound is a significant factor that could influence the pair's movement. If market participants perceive that the British Pound had become overbought or overvalued in relation to its fundamentals, they may adjust their positions accordingly, leading to a corrective move in the currency. This adjustment could contribute to a potential reversal in the EUR/GBP pair, benefiting the Euro and causing the pair to move higher towards the 0.8600 mark.
EUR/GBP daily chart
Yesterday's market sell-off was primarily triggered by the release of the minutes from the Federal Reserve, which revealed a greater inclination for further tightening of monetary policy than previously anticipated. This direction gained further momentum with the release of strong employment-related data, namely the ADP payrolls and ISM services reports, which indicated that the US labor market remains robust and is expected to continue performing well.
The ADP payrolls report for June showcased an impressive addition of 497,000 new jobs. However, it is important to note that a significant portion of these positions were in lower-paid service roles, which could have implications for wage growth and overall economic recovery.
In addition to the employment data, the prices paid component of the ISM services report indicated a slowdown, reaching its lowest level in three years. This decline in price pressures suggests that inflationary pressures might be easing, potentially influencing the Federal Reserve's decision-making process regarding future monetary policy actions.
The combination of the Federal Reserve minutes highlighting a stronger inclination for tightening, along with positive employment data and easing price pressures, contributed to the market sell-off observed. Investors and traders reacted to these factors, reassessing their positions and adjusting their expectations accordingly.
US Employment Change
The resilience of the labor market presents a challenge for the Federal Reserve in its pursuit of achieving its target inflation rate. Despite the possibility of a potential decrease in headline Consumer Price Index (CPI) to 3% in June, the task of returning inflation to the desired level becomes increasingly difficult.
Today's release of the US nonfarm payrolls report for June has the potential to further reinforce optimism about the US economy. A strong jobs report would provide evidence of a robust labor market, indicating economic strength and potential future growth. However, there is also a concern that such a positive report could lead the Federal Reserve to overestimate the economy's resilience and prompt them to raise interest rates more aggressively than necessary.
The market has already priced in these expectations, as reflected by the recent rise in yields. The anticipation of a stronger economy and the possibility of more aggressive rate hikes by the Federal Reserve have contributed to an increase in yields. This pricing-in of expectations suggests that there is a level of caution in the market regarding the potential actions of the central bank and the impact they may have on various sectors.
Balancing the need to support the labor market with the goal of achieving the desired inflation rate remains a challenge for the Federal Reserve. The nonfarm payrolls report for June will be closely watched by market participants and policymakers alike, as it has the potential to shape future monetary policy decisions and market expectations.
As always, it is important to monitor economic data releases, central bank statements, and market sentiment to gain a comprehensive understanding of the current landscape and make informed decisions regarding investments and trading strategies.
Part 3 of 7 Mega Tech & QQQ Sp500 Stocks | Key BATTLE zone- QQQ did not set a new high after this move which is the first time in a while so theres a chance for bears to set a daily lower low but they need to show up fast or we are likely heading back to 52 week highs
- Team Clear Bull: TSLA AAPL MSFT
- Team Middle META AMZN
- Team indecision: NVDA GOOGL
- no Team Bear until i see some notable downtrends confirming on these big tech stocks
Part 2 of 7 Mega Tech & QQQ Sp500 Stocks | Key BATTLE zone- QQQ did not set a new high after this move which is the first time in a while so theres a chance for bears to set a daily lower low but they need to show up fast or we are likely heading back to 52 week highs
- Team Clear Bull: TSLA AAPL MSFT
- Team Middle META AMZN
- Team indecision: NVDA GOOGL
- no Team Bear until i see some notable downtrends confirming on these big tech stocks
Part 1 of 7 Mega Tech & QQQ Sp500 Stocks | Key BATTLE zone- QQQ did not set a new high after this move which is the first time in a while so theres a chance for bears to set a daily lower low but they need to show up fast or we are likely heading back to 52 week highs
- Team Clear Bull: TSLA AAPL MSFT
- Team Middle META AMZN
- Team indecision: NVDA GOOGL
- no Team Bear until i see some notable downtrends confirming on these big tech stocks
Daily Market Analysis - THURSDAY JULY 06, 2023Key News:
USA - ADP Nonfarm Employment Change (Jun)
USA - Initial Jobless Claims
USA - Services PMI (Jun)
USA - ISM Non-Manufacturing PMI (Jun)
USA - JOLTs Job Openings (May)
USA - Crude Oil Inventories
During Wednesday's trading session, the Dow Jones Industrial Average concluded the day with a decline, driven by the release of the Federal Reserve's meeting minutes for June. The minutes indicated a growing interest among policymakers in resuming interest rate hikes. However, in the tech sector, major players showcased mostly positive performance. Notably, Meta (formerly known as Facebook) soared to a 52-week high as anticipation mounted for its upcoming Twitter competitor.
Specifically, the Dow Jones Industrial Average recorded a decrease of 0.38%, translating to a decline of 129 points. Similarly, both the Nasdaq and the S&P 500 experienced a modest 0.2% decrease during the trading session.
Dow Jones Industrial Average Index daily chart
The release of the Federal Reserve's meeting minutes from June, which occurred on Wednesday, shed light on the members' sentiment regarding future rate hikes. The minutes revealed that a significant majority of the members, described as "almost all," expressed support for the notion of resuming rate hikes. This position was motivated by concerns about persistently high inflation levels, which were deemed "unacceptably high."
Furthermore, the minutes indicated a hawkish stance among some members, with a preference for raising rates rather than pausing during the June meeting. These members highlighted their worries about a tight labor market, recognizing that such conditions could potentially drive up wages and inflation even further.
However, while the discussion expressed a general inclination towards resuming rate hikes, the decision to implement such actions in July will largely depend on upcoming data. Pantheon Macroeconomics suggests that the forthcoming data expected to be released this week and next will play a crucial role in shaping the Fed's decision-making process.
It is worth noting that approximately 90% of traders, as indicated by the Fed Rate Monitor Tool, anticipate that the Federal Reserve will indeed resume rate hikes in July.
Effective Fed Funds Rate
Investor concerns regarding a potential global economic slowdown were heightened due to underwhelming services data from China. However, the impact of these concerns on the broader market was somewhat mitigated by the strong performance of prominent technology companies. Notably, Meta (previously known as Facebook) experienced a significant surge of over 3%, reaching 52-week highs. This impressive performance came ahead of the launch of Meta's rival Twitter app, Threads, scheduled for Thursday. It is noteworthy that Twitter had recently announced its decision to temporarily restrict the number of posts users can read on its platform.
Meta Platforms stocks daily chart
Despite Apple's 0.6% decline, the company's market capitalization remains above $3 trillion, demonstrating its significant value in the market. In contrast, Microsoft experienced a slight increase in its stock price. Wedbush, a prominent research firm, predicts that Microsoft will also join the exclusive $3 trillion club alongside Apple by early 2024. This projection is based on the belief that advancements in artificial intelligence (AI) will be a major driver of Microsoft's growth and valuation. Wedbush noted in a statement on Wednesday that, considering the potential of AI and through a sum-of-the-parts valuation, Microsoft's overall value should propel it to the esteemed $3 trillion club within the next few years.
Microsoft stock daily chart
During the US Independence Day holiday, major currencies displayed a noticeable trend of trading within narrow ranges in relation to the US dollar. Among the G10 currencies, the New Zealand dollar (NZD) emerged as the top performer. This could be attributed to the unwinding of long positions in the Australian dollar/New Zealand dollar (AUD/NZD) pair, which likely contributed to the NZD's relative strength in the market.
AUD/NZD daily chart
Throughout this week, European markets have faced consistent declines, with yesterday's losses being notably significant. The downward trend in the markets is expected to persist today.
The market weakness witnessed yesterday was primarily fueled by concerns surrounding disappointing services Purchasing Managers' Index (PMI) data from both China and Europe. These underwhelming data releases have heightened worries about a potential global economic slowdown. Furthermore, the increasing risks related to interest rates have contributed to weakness in sectors such as basic resources, energy, and financials, amplifying the overall market downturn. These negative sentiments have had a spill-over effect on Asian markets as well, reflecting the widespread concerns about the global economic landscape.
Employed Usually Works Full time Chart
US Employed Persons status
Today's highly anticipated release of the ADP payrolls report is expected to show a robust figure of 225,000, slightly lower than the previous month's 278,000. Despite this slight decrease, it is important to note that the current level of job vacancies suggests that we are unlikely to see a weak jobs report in the upcoming months. Consequently, it is less probable that the labor market will serve as the catalyst for the Federal Reserve to signal a pause in its policies in the near future.
US Purchasing Managers Index (ISM)
The Federal Reserve has expressed concerns regarding the persistence of services inflation, highlighting its potential impact on the economy. Today's ISM services report is anticipated to reveal a modest uptick in headline activity, reaching around 51.3. However, special attention will be given to the prices paid component, which experienced a decline to 56.2 in May, marking a three-year low. This data will provide insights into the pricing pressures faced by service providers.
As for Independence Day, please note that trading hours may be affected due to the holiday in the United States.
The Unemployment Rate is a key economic indicator that measures the percentage of the labor force that is unemployed and actively seeking employment. It provides insights into the health of the labor market and is closely monitored by economists, policymakers, and market participants.
Opening (IRA): META August 18th 225 Short Put... for a 2.48 credit.
Comments: A little bit more single name toward the top of my IV screener. Targeting the <16 strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the underlying without actually being in the stock.
Earnings are on July 26th, so I'll be "playing through."
3 Reasons Why You Should Watch MetaBig Tech Are Companies Found On The NASDAQ
These Tech Companies Count On:
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-Momentum
-Production Plans
-Yearly Performance
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This Means That You Can Profit From These
Company's Results - If You Understand Technical Analysis
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Such As The TEMA Used On This Chart
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Please "Rocket Boost" This Post And Follow
To Learn More
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Cheers
Lubosi Forex
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Please Note**
Am not a trading Expert Do
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Not Buy Or Sell What I Tell You
Do Your own Research Before
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Trading Because Its Risky
And You Will Lose Money.