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Economic Updates

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Economic Updates

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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
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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 br...

August 15, 2022
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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
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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
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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
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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
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US equities and bonds drop ahead of key US CPI figure and Rate-hike odds rise

US equities 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 headli...

August 10, 2022
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Bitcoin showing signs of a reversal.

    Bitcoin has seen a large tumble in its share 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 rig...

August 9, 2022
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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
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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
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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
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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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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
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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
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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
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