Articles
US stocks pump and dump on FOMC, Powell and Yellen comments
US equities finished in the red in Wednesdays session , the session was volatile with some big moves in all risk assets which was unsurprising with probably the most important FOMC meeting we’ve had in the last 12 months. The FOMC hiked rates 25bp as expected, there was an initial rally in equities and drop in the USD as the accompanying state...
XAUUSD, GBPUSD, and EURUSD Analysis 20 – 24 March 2023
XAUUSD Analysis 20 – 24 March 2023 The outlook for gold prices remains positive in the medium term. This is because gold prices rose above the 1960 price line before testing the 2000 resistance and then dropped after failing to cross it. Adjust the resting base or sideways to go up to the resistance 2000 again, which is the next target tha...
The Fed, between a rock and a hard place – FOMC preview
Todays FOMC rate decision is certainly in play, with recent turmoil in the banking sector caused in no small part by aggressive Fed hikes over the last 12 months, throws a very big spanner in the works of the Feds plan to combat inflation. Up until a couple of weeks ago a 50bp hike was pretty much fully priced in as the Fed refused to budge on t...
US stocks continue rally, Gold takes a big hit and EURUSD outperforms ahead of pivotal FOMC meeting
US equities rallied for a second day amid further stability in the banking sector with assurances from treasury secretary Janet Yellen that the US financial system was safe helping to improve investors mood. All major indexes finished in the green with a big bounce in regional banks seeing the Russel 2000 outperform, up almost 2% on the day, wit...
Nike results announced
World’s largest sporting goods company, Nike Inc. (NYSE:NKE) reported fiscal 2023 financial results for its third quarter after the closing bell in the US on Tuesday. Nike beat both revenue and earnings per share (EPS) estimates for the quarter ending February 28, 2023. Revenue reported at $12.4 billion (up by 14% year-over-year) vs. $11.48...
US stocks rally as banking sector fears ease, USD and Gold down, Yields up
US markets rose modestly in Mondays session on a more positive tone in the banking sector following on from the UBS – Swiss government bail out of Credit Suisse over the weekend and hopes US banking regulators would backstop deposits to restore confidence in US mid-sized banks. We saw green across all major indexes, the NASDQ being the lagged ...
The week ahead – SNB, Federal Reserve and BoE rate decisions
US and European markets dropped steeply on Friday as investors remained shaken by the fallout of bank collapses in the US and the issues at Credit Suisse ahead of a pivotal week in Central Bank policy meetings. Over weekend a SNB brokered deal a deal was announced that UBS will buy rival Credit Suisse for 3 billion Francs and agreed to assum...
Bank bailouts see markets bounce, ECB surprises with big hike
Thursdays US session was risk on led by global banking support after SNB gave a lifeline to Credit Suisse while 11 large US banks stepped up to help First Republic (FRC). In spite of the backdrop of recent bank turmoil the ECB hiked 50bp surprising the market that had priced in a 25bp hike. Even though the size was larger than expected (though...
Will the ECB continue with a 50bps hike as planned?
In the lead-up to the European Central Bank (ECB) interest rate decision this week, the market has seen significant turmoil. Firstly from the Silicon Valley Bank (SVB) failure, followed by the news that Credit Suisse’s largest financial backer is unlikely to provide further financial support. This led to Credit Suisse stock plunging by more than ...
Stocks and Oil hammered, Gold and Bonds rally on Credit Suisse woes
US indexes finished in the red today with the exception of the Nasdaq which eked out a small gain as banking fears spread to Europe. Shares of Credit Suisse plunged to all time lows on fears of the banks financial position and after a top investor in the form of the Saudi National Bank ruled out any further financial help for the bank. US Stocks...
XAUUSD, GBPUSD, EURUSD Analysis 13-17 March 2023
XAUUSD Analysis 13-17 March 2023 The gold price outlook remains positive in the short and medium term. As the price of gold rested above the 1800 support level before making a strong rally and breaking above the 1880 level as a result of the increased demand for gold as a safe haven over the weekend. come After the collapse of Silicon Valley...
US equities whipsaw on CPI, S&P downgrade – Oil and BTC at critical levels
We had roller coaster of a ride on US markets in Tuesdays session, US markets initially moved higher on a CPI figure that came in line with expectations taking a little bit of pressure off the fed and no more news of banks going bust. The punchbowl was taken away later in the session though as news of a US drone and Russian jet colliding paired ...
How to trade the US Dollar Index
The US Dollar Index (DXY) is a popular tool used by forex traders to assess the value of the US dollar relative to a basket of other major currencies. The DXY is calculated using the weighted average of six major currencies: the euro, yen, pound sterling, Canadian dollar, Swedish krona, and Swiss franc. To use the DXY to trade forex, you can fol...
Bank of Canada keeps interest rates at 4.50%
This week, the Bank of Canada (BoC) released its decision to hold interest rates at the current level of 4.50%. In the rate statement, the BoC indicated that inflation has eased to 5.9%, and the expectation for weaker economic growth and a moderation of wage growth could see inflation continue on its downward trajectory. The BoC highlighted that it...
Hawkish Powell slams Stocks, Gold and Oil, USD takes off
Jerome Powell, testifying in front of Congress early in the US session, dashed the bulls hopes of a Fed pivot anytime soon after hinting that larger than expected hikes are a possibility and rates could stay higher and longer than the market was pricing in. This saw an instant reaction in risk assets as the markets priced in a terminal Fed rate ...
