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Charles Schwab posts mixed Q1 results

Charles Schwab Corporation (NYSE: SCHW) announced the latest financial results for the first three months of 2023 ended March 31, before the opening bell on Wall Street on Monday. Company overview Founded: 1971 Headquarters: Westlake, Texas, United States Number of branches: 400 Number of employees: 35,300 (as of December 2022) ...

April 18, 2023

AUD and NZD under pressure on rising US and EU yield expectations

AUD and NZD, being cyclical currencies (cyclical currencies being ones that are extra sensitive to global risk sentiment) took a big hit in Fridays session , dropping 1.1% and 1.3% respectively against the USD and remain under pressure today. Weak retail sales out of the US on Friday didn’t help risk sentiment, but the rout really started when...

April 17, 2023

Key events in the week ahead – Activity data dominates

After last week’s Inflation themed calendar, we head into the new week where the main theme will be activity data with a raft of manufacturing and services PMI figures from the UK, Eurozone and the US. some of which will help determine what happens at the forthcoming round of central bank rate decisions in the coming weeks. USA With the mar...

April 17, 2023

JP Morgan Chase & Co. tops Q1 estimates – the stock is rising

JP Morgan Chase & Co. (NYSE: JPM) announced Q1 financial results before the market open in the US on Friday. The largest bank in the US beat both revenue and earnings per share (EPS) estimates for the first quarter of 2023, sending the stock price higher. The company reported revenue of $38.349 billion vs. forecast of $36.125 billion. ...

April 15, 2023

Tech leads US Stocks higher on soft PPI and employment figures, Gold surges towards all time high

A significantly softer than expected PPI print confirming Wednesdays CPI saw the green light for risk on in Thursday’s session and saw a broad rally in risk assets. All major US indexes rallied strongly with the Tech heavy NASDAQ outperforming while the S&P 500 closing at its highest level since February. The March producer price index...

April 14, 2023

Indices Trading – What are Indices and how to use CFDs to trade them

Index trading is one of the most popular class of markets to trade for CFD traders, rivalling major FX pairs in trading volume, but what is indices trading and how does trading them with CFDs work? Most people will be familiar with the names of the major stock indices from financial reports in all forms of media, the most popular stock indices o...

April 13, 2023

US Stocks give up gains on cool CPI as Fed minutes stoke recession fears

Major US stock indices slid in Wednesday’s session after a cooler than expected CPI figure gave them a boost only run out of steam and ultimately finish in the red after Fed minutes stoked recession fears. The Dow outperformed it’s peers, down around 38 points as investors continued to favour defensive stocks over more risk sensitive growth sto...

April 13, 2023

US stocks choppy in a low volatility session ahead of pivotal CPI and FOMC minutes

US equities traded in tight ranges in a low volume session as traders remained cautious ahead of Wednesdays pivotal CPI figure out the US, followed by the release of FOMC minutes a few hours later. Major indices eventually finished mixed with the defensive Dow and recently battered Russell 2000 finishing in the green, whilst the S&P500 and N...

April 12, 2023

FX analysis – USDJPY – Yield differentials pushing this pair higher

USDJPY The USDJPY is on the march higher again after a better than expected Non-Farm payroll figure on Friday saw sentiment shift hawkishly toward Fed monetary policy with Fed fund futures now pricing in a 70% chance of a 25bp hike at the FOMC May meeting, up from around a 50-50 split earlier in the week. The policy divergence in the US and J...

April 11, 2023

US stocks reverse weak opening to end slightly higher in first reaction after NFP beat

US markets opened on Monday after a holiday break to the news of a resilient US labour market after a beat in the NFP figure released on Friday. Nonfarm payrolls grew by 236,000 for the month, above the 228k expected, while the unemployment rate fell to 3.5%, where a hold of 3.6% was expected. This saw rate hike expectations from the FOMC at ...

April 11, 2023

Tech Tanks, Defensives hold up the Dow as Weak Data Stokes Recession Fears

US markets continued to wobble in Wednesday’s session after another weak employment figure and a miss on Services PMI indicated the US economy might finally start to be slowing down after a year of aggressive hiking from the Federal Reserve. The Tech heavy and more risk sensitive Nasdaq led declines, closely followed by the Russell 2000 as reg...

April 6, 2023

US stocks decline as weak JOLTS data and Dimon comments spook investors

US equities snapped a 4-day winning streak as the “bad news is good news” narrative for equities faltered in Tuesdays session. Before the cash session the JOLTS job openings figure was released and came in much lower than expected, this is a key gauge of US labour market tightness that the Fed has referenced throughout its aggressive interes...

April 5, 2023

RBA leaves cash rate unchanged but leaves the door open for future hikes if needed

After 10 hikes on the trot and what will no doubt be a relief for mortgage holders the RBA held the official cash rate at 3.60%. The rate decision was fully priced in by the futures markets , so no great surprise on the actual decision , it’s the accompanying statement where investors look for clues as to future RBA actions that will set the shor...

April 4, 2023

US stocks mixed in choppy session amid an OPEC+ surprise and weak manufacturing data

Markets on Monday opened to the news of a surprise OPEC+ Oil output cut seeing WTI oil gap open over 5% that along with weak manufacturing figures out of the US saw a whipsawing session in equities, the Dow did finish strongly though, up over 300 points, dramatically outperforming the Nasdaq by the most since October last year, the tech heavy index...

April 4, 2023

The Week Ahead – RBA and RBNZ rate decisions , US employment

US Stocks finished Q1 with a bang as Wall st wrapped up a volatile, and event filled quarter with Federal Reserve rate tightening, a banking sector panic spurred on by the collapse of Silicon Valley Bank and Credit Suisse. The S&P 500 and Nasdaq were up 7.03% and 16.77%, respectively, for the first quarter. It was the best quarter since 2020...

April 3, 2023