European stock markets trade lower DE30 continues to move lower Infineon (IFX.DE) stock plunges despite upbeat quarterly results European stock market indices launched today’s cash session lower, extending Friday’s downward move. Blue chips indices from Germany, France and the UK are trading around 1% lower dragged by global growth woes amid ongoing lockdowns and stringent health restrictions […]
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09
May
May
Talking AUD/USD
The US dollar is continuing its rampaging amid worsening market sentiment. The dollar index jumped above the 104 mark, hitting a fresh 20-year high, as hawkish FED, surging inflation, the war in Ukraine and Chinese lockdowns led investors to dump risky investments and transfer their fund to safe-haven assets. The Australian dollar also fell sharply […]
09
May
May
Today’s Economic Calendar
Futures markets point to a lower opening of the European cash session, following a downbeat Asian session as tightening lockdown in Shanghai and boosted fears about global economic growth and possible recession. Economic calendar for the day ahead is quite empty. Investors will be offered Sentix index from the Euro area in the morning and […]
09
May
May
Good Morning Traders
Indices from Asia-Pacific traded lower today. Nikkei plunged 2.35%, S&P/ASX 200 dropped 1.2% and Kospi moved 1.35% lower. Stock markets in China also moved lower. Hong Kong market is close due to public holiday. • US futures trade below Friday’s cash close. • European futures point to a lower opening of today’s cash session. • […]
06
May
May
Nasdaq Breaks Key Support Level
Nasdaq contracts hit lowest level since March 2021 The US100 technology index broke below the key support level of 13,000 pts, which was tested several times in recent days as well as in February and March. The opening on Wall Street brings additional volume in the market, although this could probably be related to further […]
06
May
May
Upbeat NFP Data Sees Little USD Reaction
The US economy added 428k jobs in April, compared to the 431k increase in March and above market expectations of 385k. The jobless rate remained unchanged at 3.6% and above market estimates of 3.5%. Closely watched wage growth fell to 5.5% YoY, from 5.6% increase in March and in line with market expectations. Still, economists believe the labour […]
06
May
May
Stock Market Sell Off While Bitcoin Plunges
The cryptocurrency market has experienced very high volatility in recent days, the sell-off has sparked concerns over the risk of recession and galloping inflation. These factors made the stock indices dive again, dragging the cryptocurrency market with them. One can see that the correlation of Bitcoin with the NASDAQ technological index is still strong, which […]
06
May
May
Chart of The Day
As the first Friday of a new month has arrived, the time has come for release of the US jobs data. Report for April may have less gravity than usual as the Fed has already set out guidance for rate hikes at coming meetings. Nevertheless, some short-term volatility on the USD market is likely to […]
06
May
May
Good Morning Traders
US indices slumped yesterday, erasing all of post-FOMC gains. S&P 500 dropped 3.56%, Dow Jones moved 3.12% lower and Nasdaq slumped 4.99%. Russell 2000 dropped 4.04%. Indices from Asia-Pacific followed Wall Street’s lead and also slumped. S&P/ASX 200 dropped 2.2%, Kospi dropped 1.1% and indices from China traded 2-4% lower. DAX futures point to a […]
05
May
May
Talking GBP/USD
FOMC delivered a 50 basis point rate hike, in-line with market expectations, and announced the beginning of balance sheet run-off in June. As the pace of monthly reductions in the balance sheet was lower than expected and Powell said that 75 bp rate hikes are not actively considered, equity markets rallied and USD dropped. Now […]