Core PCE prices in the US which exclude food and energy fell to 0.3% month-over-month in March, following 0.4% gain in February and in line with market expectations of a 0.3% rise. Year-on-year, core PCE inflation went down to 5.2 % from 5.4 % in previous month and below analysts’ estimates of 5.3%. Personal income […]
Archive for April 29th, 2022
Archive for April 29th, 2022
Archive for April 29th, 2022
29
Apr
Apr
Lets Talk Amazon (AMZN.US)
Amazon (AMZN.US) stock plunged 10.0% before the opening bell after the tech giant posted disappointing quarterly results and revealed a revenue forecast that missed analyst estimates. Company’s sales growth slowed down to 7.0% compared to 44% last year, meanwhile costs increased and its investment in electric vehicle company Rivian (RIVN.US) erased its profits. Revenue at $116.4 billion came in-line […]
29
Apr
Apr
Talking CHNComp
Coronavirus pandemic in China is far from over. While the number of new daily cases moderated recently, restrictions remain in place creating a drag on the economy. Mass testing is being carried out in more and more cities to identify Covid hotspots. Economic damage from such an approach will stretch beyond China due to the […]
29
Apr
Apr
Muted Reaction to Positive German Data
A flurry of Q1 GDP reports from European countries was released this morning. However, the most closely watched one, as always, was the German release at 9:00 am BST. The German report was expected to show a 0.1% QoQ expansion in Q1 2022, following a 0.3% QoQ contraction in Q4 2021. Report turned out to […]
29
Apr
Apr
Fridays Economic Calendar
European markets set to open higher Q1 GDP data from Europe US core PCE inflation for March to be released in early afternoon Futures markets point to a higher opening of the European cash session, following the stellar Wall Street session yesterday and upbeat trading in Asia today. DAX futures trade around 150 points above […]
29
Apr
Apr
Good Morning Europe
US indices had a stellar session yesterday in spite of the US GDP miss. S&P 500 gained 2.47%, Dow Jones moved 1.85% higher and Nasdaq surged 3.06%. Russell 2000 gained 1.80%. Stocks in Asia traded higher. S&P/ASX 200 added 0.7%, Kospi gained 1% and Chinese indices traded up to 3% higher. Stock market in Japan […]
28
Apr
Apr
Hawkish Guidance From Riksbank
Riksbank surprised markets today with an unexpected 25 basis points rate hike. Main interest rate increased from 0.00% to 0.25%. However, this is not the end as the Bank provided hawkish guidance, leading SEK to strengthen 1% against the euro. Key takeaway from policy statement Bank will cease purchases of Treasury bills, starting today Asset […]
28
Apr
Apr
Russian Decision Raises EUR Concerns
The Russian decision to halt natural gas flows to Poland and Bulgaria raised concerns that Russia may cut whole Western Europe off its gas. This has magnified downward pressure on the common currency and resulted in a steep drop on the EURUSD market. The main currency pair even dipped below 1.05 for a moment this […]
28
Apr
Apr
Today’s Economic Calendar
European markets set for higher opening US Q1 GDP data, German CPI for April Earnings from Apple and Amazon Futures markets point to a higher opening of today’s European cash session. DAX futures are trading over 100 points above yesterday’s cash close. The day ahead looks interesting thanks to top-tier macro releases as well as […]
28
Apr
Apr
Good Morning Traders
US indices finished yesterday’s session mixed as an attempt to recover from the previous day’s sell-off failed. S&P 500 gained 0.21%, Dow Jones moved 0.19% higher, Nasdaq finished flat and Russell 2000 dropped 0.34%. Indices from Asia traded higher today. Nikkei gained 1.6%, S&P/ASX 200 added 1.2% and Kospi moved 0.7% higher. Majority of indices […]