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 […]
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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 […]
27
Apr
Apr
Talking Cryptocurrencies
Cryptocurrencies, like the indices, managed to erase some of the losses from the weak end of last week. Bitcoin slipped below $40,000 for the first time in a month over the weekend and tested $38,500 level. Now the ‘king of cryptocurrencies’ has erased some of the losses and attempts to return above $40,000 pulling altcoin […]
27
Apr
Apr
Under Pressure Biontech (BNTX.US)
German company Biontech (BNTX.US) was developing an MRNA vaccine in collaboration with US giant Pfizer and was one of the biggest beneficiaries of the coronavirus pandemic. However, pharmaceutical stocks are now in retreat as the pandemic slowly subsides: The company has advertised their vaccines as outperforming the competition in terms of efficacy while causing minimal interference to […]
27
Apr
Apr
Earnings Preview Meta Platforms
Meta Platforms to report earnings after market close today Revenue seen increasing 8%, net income seen 25% lower Expectations of first sub-10% sales growth since IPO Active users expected to increase after Q4 2021 drop Russia-Ukraine war potential risk to ad spending Shares trade 45% year-to-date lower Following the earnings release from Microsoft and Alphabet […]
27
Apr
Apr
Commodity Talk
Inflation seemed to be a dead topic for many years. For an extended period of time, central banks tried to stimulate price growth, mainly through higher wages. The inflation targets were more than achieved, unfortunately mainly through supply factors. It is sometimes difficult to answer the question whether high inflation is caused by rising commodity […]
27
Apr
Apr
Talking Oil (WTI)
Oil has gained ground amid geopolitical tensions as Russia halted gas supplies to Poland and Bulgaria until payments in Rouble are made, while hopes of Chinese economic stimulus buoyed the demand outlook. We are currently facing an event driven market combined with a risk-off sentiment. However, the technical situation seems to suggest that further gains […]