Market Overview

9 October 2019 07:42

Brian Cooper

The Fed Chair Jerome Powell's comments on Tuesday suggested that interest rate cut in October was not a done deal, though did little to influence firming market expectations of a third interest rate cut this year at the upcoming FOMC meeting on October 29-30. At separate events, two other FOMC members - Chicago Fed President Charles Evans and Minneapolis Fed President Neel Kashkari signalled their support for more policy easing. In fact, the interest-rate futures are currently pricing in more than an 80% chance of rate cut in October and 40% chance of a fourth rate cut in December.
8 October 2019 09:19

Brian Cooper

Asian stocks are better bid with investors mulling the upcoming US-China trade talks. after a week-long holiday the Shanghai Composite index is currently up 0.88%, having opened on a flat note. The futures on the S&P 500 are also reporting a 0.40% gain. China has made clear that it wants to reach a partial trade deal and set out a timetable for the harder issues to be worked out next year. Chinese Vice Premier Liu He and People’s Bank of China Governor Yi Gang are among officials heading to Washington to resume talks with their US counterparts.
7 October 2019 12:51

Brian Cooper

Investors will favour euro over the pound in migration to the havens. EURGBP is looking promising on a 'no deal traction as a base case as the end of month deadline looms'. EU not sure whether to make Johnson's last proposal workable and set to decide by the end of the week. EURGBP to rally back above the post referendum, flash crash high of 0.9415 on a no-deal Brexit scenario. Disclaimer: Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or investment advice by TeleTrade.
4 October 2019 08:53

Brian Cooper

PepsiCo (NASDAQ: PEP) is slated to report earnings with many expecting its snack business to continue to underpin performance. The company recently has spruced up the snack business by adding healthier options. In its second-quarter report, the beverage and snack maker said it expects its fiscal 2019 organic revenue to grow by 4% and adjusted earnings per share, assuming constant foreign currency exchange rates, to decline by 1%. Pepsi is expected to report earnings of $1.50 per share on revenue of about $16.9 billion. Despite a 2.
2 October 2019 08:22

Brian Cooper

The U.S. dollar index inched up 0.1% even after a weak reading on American manufacturing added to concern about economic growth. The report from the Institute for Supply Management showed the ISM's manufacturing PMI fell to 47.8, its lowest level in 10 years. The weak data sent U.S. stocks lower overnight while Asian equities also traded lower in morning trade today. The USD/CNY pair was unchanged at 7.1477. Celebrations marking 70 years of Communist rule in China. The GBP/USD pair fell 0.2% to 1.2280. In the latest episode of the Brexit saga, U.K.
26 September 2019 09:27

Brian Cooper

US President Donald Trump said that the country is getting “closer and closer” to a trade deal with China, adding that there is a “good chance” one could happen. The US Dollar outperformed against its major counterparts, as the British Pound declined on the latest Brexit developments. While the UK Parliament is back in session, odds of a snap election have been on the rise after Prime Minister Boris Johnson’s prorogation was cut short.
25 September 2019 07:52

Brian Cooper

New Zealand dollar rose against its U.S. counterpart on Wednesday in Asia after the Reserve Bank of New Zealand kept interest rates unchanged but said there is scope if it sees the need for it to boost economic growth. The NZD/USD pair gained 0.2% to 0.6331 following the news. The AUD/USD pair was down 0.2% to 0.6788 by 11:41 PM ET (03:41 GMT).
24 September 2019 11:11

Brian Cooper

Developments on the U.S.-Japan trade front were in focus after reports suggested that the negotiations might have hit a last-minute snag as the Japanese yen was little changed against the U.S. dollar on Tuesday in Asia. Reuters reported that the two nations are still hoping to sign a trade deal this week. However, the deal might be “limited” and is not expected to include changes to tariffs governing autos, the biggest source of the $67.6 billion U.S. trade deficit with Japan, Reuters said. The USD/JPY pair was little changed at 107.53 by 11:45 PM ET (03:45 GMT).
23 September 2019 11:55

Brian Cooper

PM Johnson not pinning hopes on getting a breakthrough on Brexit talks in New York. EU's Donald Tusk will meet PM Johnson this week around the side-lines of a U.N session in New York next week. Any sense that Johnson has submitted a workable deal will result in GBP strength, but PM Johnson now downplaying hopes of a breakthrough. Disclaimer: Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or investment advice by TeleTrade.
20 September 2019 12:06

Brian Cooper

Crude Oil has increased 11.97 USD/Barrel, or 25.72% since the beginning of 2019, according to the negotiation of a contract for difference (CFD) accompanying the reference market for this commodity. Historically, oil reached a record high of 147.27 in July 2008 and a record low of 9.75 in April 1986. Brent follows an uptrend, valuing approximately 8% this week, quoting 65 USD/Barrel. But the current context is highly worrying not only for the price stability of this raw material but also for world economic stability.
Market Focus
  • Fed's Powell signals resumption of balance sheet growth
  • European Commission spokesman: EU position has not changed, we want a deal with UK
  • Canada’s building permits unexpectedly surge in August
  • Producer prices in the U.S. unexpectedly decreased in September

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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