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Articles
US stocks lift off after Bostic comments, EU sees record inflation print driving bond yields higher
A strong US labour market figure , unemployment claims dropped to 190k when 196k was expected, in combination with a record high Core CPI figure out of Europe saw the US equity session get off to a rocky start as bond yields soared. That all changed later in the session as a Bloomberg headline hit with comments from Fed member Bostic. Whi...
March 3, 2023Read More >US Stocks Mixed in Choppy Session Driven by Data and Fed Speakers
US stock indexes went on a rollercoaster ride in their Wednesday session after weaker then expected US ISM and Manufacturing PMI figures were offset by prices paid showing a return to expansionary territory adding to inflationary concerns after the string of hot January prints. Adding to the mix was Hawkish rhetoric from voting Fed member Kashkari ...
March 2, 2023Read More >AUD CPI eases but Interest Rates could continue rising
The Consumer Price Index (CPI) is an inflation indicator that is closely watched by the markets and policymakers as a gauge of economic fluctuation and price stability. Generally, central banks set and adjust their monetary policy mandate in order to achieve a target level of 2-3% which would allow for moderate growth in prices. As the major econom...
March 2, 2023Read More >Pepperstone Head switches to GO Markets
Leading online broker GO Markets has hired ex-Pepperstone Head of Market Risk, Peter Spanos. Peter has joined GO Markets as Head of Risk & Product Development, flagging a new era of growth for the Australian-founded broker. Spanos said of his new position, “It’s exciting to work at a company with a supportive culture. GO Markets has big ...
February 27, 2023Read More >Surprising PMI data for the UK
The Purchasing Managers Index (PMI) is a leading indicator of economic health where an expansion of the industry is indicated by a data release above 50, while a release below 50 indicates a contraction. On Tuesday, the Flash Manufacturing PMI was released at 49.2 (Forecast: 47.5) and the Flash Services PMI was released at 53.3 (Forecast: 49.2) for...
February 23, 2023Read More >Hot PMI Data Sees Dow Turn Negative For The Year As Stocks And Bonds Tumble
US Flash Services and Manufacturing PMI’s came out better than expected , showing the US economy remains resilient in the face of raising interest rates. The January narrative of a Fed pivot on fears of an economic slowdown has flipped 180 degrees in February as persistently strong figures have traders repricing markets for “higher for longer�...
February 22, 2023Read More >Walmart Q4 and full-year results announced
Walmart Inc. (NYSE:WMT) announced Q4 and full-year financial results before the market open on Wall Street on Tuesday. World’s largest supermarket chain posted solid results for the quarter – beating both revenue and earnings per share (EPS) estimates. The company reported revenue of $164.048 billion (up by 7.3% year-over-year) vs. $159.7...
February 22, 2023Read More >RBNZ Cash Rate Decision Preview
The NZDUSD has been on a decline since the start of February 2023, with the price reversing strongly from the high of 0.6540 ending the previous week bouncing off the 200-day moving average and previous swing low price level of 0.6190. This week, we have the Reserve Bank of New Zealand (RBNZ) due to release their interest rate decision. Current ...
February 20, 2023Read More >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, 2023Read More >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, 2023Read More >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, 2023Read More >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, 2023Read More >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, 2023Read More >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, 2023Read More >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, 2023Read More >
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