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Economic Updates
Bitcoin showing signs of a reversal.
Bitcoin has seen a large tumble in its price since it reached its peak of 70,000 USD, however there are signs that the price may be ready to break out of its downtrend. Background With rising inflation and a tense geopolitical climate, growth equities and risk assets have felt the pinch and Bitcoin has been right in ...
Four Australian Stocks to Watch
Today, we are going to be looking at some Australian stocks to watch, there has been positive activity in the Australian market over the last couple of weeks, after a fresh round of bank earnings and stronger than expected retail data helped major U.S. indices pare recent losses. So, there’s plenty of activity to discuss, however, we are going to...
BNPL sector showing signs of a reversal after monstrous selloff
The Buy Now Pay Later, (BNPL) sector has seen a resurgence after a long and brutal sell-off. The reason for, much of the resurgence is not related to any specific catalyst but rather, changing sentiment within the broader market. The sector rose significantly before and during the Covid-19 pandemic. However, as the pandemic came...
Cyclical assets stumble on hawkish Fedspeak and BoE recession forecast
US stock Indices were mixed and ultimately little changed overnight with growth concerns taking centre stage after the Bank of England’s sustained recession forecast and Fed governor Mester again reiterating the central banks resolve in bring down inflation. Mester stated that she sees it as not unreasonable to see a 75bps hike in September and e...
Alibaba posts better-than-expected results
Alibaba Group Holdings Limited (BABA) reported its latest financial results before the market open on Thursday. The Chinese e-commerce giant reported revenue of $30.689 billion for the quarter vs. $30.364 billion expected. Earnings per share were reported at $1.75 per share vs. $1.60 per share expected. Daniel Zhang, Chairman and...
Preview: Non-Farm Payroll announcement
It’s the beginning of a new month which means that the Non-Farm Payroll figures will be released by the US Bureau of Labor Statistics. The latest US jobs data for July will be released at 1:30pm London time on Friday. Why is the announcement important? Non-Farm Payroll is one of the most closely watched indicators. It is considere...
What is going on with Taiwan?
What is going on with Taiwan? Taiwan is back in the news after US speaker of the house Nancy Pelosi visited the country causing a fiery reaction from the mainland of China. Historical background In order to understand the causes of the China/Taiwan tension, some historical perspective is needed. The current te...
USDJPY ready to bounce or retrace further.
USDJPY ready to bounce or retrace further. The USDJPY has been recently provided great buying opportunities for traders. However, in recent days it has posted its largest drop since beginning the current upward at the beginning of January 2021. The question remains, is this just a standard retracement or is it a symbol of a much bigger...
Volatile US session as risk assets decline on a Fed “re-pivot” and US-China tensions
US equities had a volatile and ultimately negative session as an early rally faded dramatically on the back as a combination of hawkish Fed member comments and geopolitical tensions saw risk assets take a dive. It was a classic risk off session that saw equities, crypto and cyclical currencies take a hit and the safe haven USD rally strongly. Bo...
Reserve Bank of Australia hikes Cash Rate by 0.50%
The Reserve Bank of Australia, (RBA) has increased the Country’s cash rate by half a percent to combat the rising inflation in its latest cash rate change. The increase was in line with most analyst’s expectations as the RBA continues to fight inflation and bring it back into the 2-3% range. The current forecast from the RBA...
NIO latest delivery numbers announced – the stock is up
NIO Inc. (NIO) reported its latest delivery numbers for July on Monday. The Chinese electric vehicle company delivered 10,052 cars last month – an increase of 26.7% year-over-year. The deliveries in July consisted of: 7,579 premium smart electric SUV’s 2,473 premium smart electric sedans NIO has delivered a total of 227,949 ele...
The week ahead – Central banks, NFP star in a busy calendar, will bad news be good news?
Market sentiment continued to improve in the past week with equity markets rallying as traders pared back on bets on the extent of the Federal Reserves rate hike path. Corporate earnings also buoyed the markets with the likes of Amazon and Apple having bumper gains on Friday after their results were released. Looking ahead, a very busy calendar ...
ExxonMobil exceeds analyst estimates for Q2 – the stock gains
ExxonMobil Corporation (XOM) reported its second quarter financial results before the opening bell on Wall Street on Friday. The oil and gas giant topped Wall Street expectations for the second quarter of 2022. The company reported revenue of $115.681 billion vs. $111.302 billion expected. Earnings per share reported at $4.14 per share vs....
US dollar drops as the economy shrinks by 0.9% for the last quarter.
US economic data revealed last night shows that the country’s GDP has shrunk by 0.9%, although some are remaining positive that a recession may still be avoided. Despite the worrying figures, Federal Reserve Chair, Jerome Powell, outlined his belief that due to low unemployment figures of 3.6% and a strong market for jobs with 11 million job open...
Mastercard beats Wall Street expectations
Mastercard Incorporated (MA) reported its latest financial results before the opening bell on Wall Street on Thursday. The US financial services company reported revenue of $5.497 billion in Q2, beating analyst estimate of $5.267 billion. Earnings per share reported at $2.56 per share vs. $2.36 per share expected. ''We had strong...