Market Overview

20 September 2023 09:13

Constantinos Anastasiou

The Fed May Break the Heart of the Rally

The market sentiment generally looks neither bearish, nor bullish ahead of the U.S. Federal Open Market Committee's (FOMC) message. It is still rather neutral but nervous, as investors are preparing to interpret the statement of the world's most influential financial regulator via its updated interest rate and economic projections. A rate hike pause on September 20 may seem to be a done deal. However, the essence of the Federal Reserve's (Fed) forecast for the near future may shake the foundations of the “Fed almost done” pillar, which was at the heart of the summer rally.

6 September 2023 09:08

Constantinos Anastasiou

Oil and AI Stocks Rally on Mixed Forecasts

British Petroleum (BP), Exxon Mobil (XOM), Chevron (CVX) and other oil industry leaders’ stock prices hit their highs since the end of April. This happened in the first days of autumn as a response to Russia's intentions to extend its export cuts by 300,000 barrels per day (bpd) in September, following 500,000 bpd production cuts that are valid throughout the end of 2023. Its deputy prime minister alexander Novak said the move was coordinated with Saudi Arabia and other members of the OPEC+ informal community of oil exporting countries.

23 August 2023 08:48

Constantinos Anastasiou

Investors Wait for the Monetary Guidance to Direct Stocks’ Prices

Stocks related to artificial intelligence (AI) and certain other tech behemoths formed a separate group of issuers, which are performing a rebound this week. And not even all potential candidates participated in that drastic leap. For the most part, a narrow band of market heroes like Microsoft and Tesla. On the contrary, those giants who have recently taken off well due to successful quarterly reports, like Google and Amazon, joined the general correction of Wall Street making the S&P 500 broad barometer testing its lower levels between 4,350 and 4,400.

8 August 2023 14:37

Constantinos Anastasiou

Why Market Sceptics Did Not Get Out of the Way?

As at the end of the first week of August, 79.1% of the 422 companies in the S&P 500 index broad list have already reported for Q2 2023, showed their earnings above consensus, according to Refinitiv. To compare, a long-term average is 66.4%, and an average for the recent four quarters was 73.4%. This could be a cause for steady optimism if not a series of warnings from many companies on potentially worse second half of the year. Only 59% of firms exceeded Wall Street's revenue forecasts, being the lowest percentage level in three years, while earnings growth is negative at -4.

19 July 2023 09:04

Constantinos Anastasiou

Gold May Nest around $1,965 to Rush to $2,000

Gold prices are gaining momentum since mid-July on speculations of a highly likely choice of the Federal Reserve (Fed) to stop an unprecedented cycle of interest rate hikes after July. The U.S. Dollar is the main loser in that context, while its rival currencies including Euro, Swiss Franc, the Pound and Japanese Yen are enjoying its weakness. Major currency pairs are moving rapidly covering a distance in days that would be usually appropriate to cover in a three or five weeks. This led the U.S. Dollar index to post its 15-month lows, testing a 99.25-99.45 area.

12 July 2023 07:03

Constantinos Anastasiou

Fed Officials Shorten Verbal Sail Ahead of the Key Inflation Report

Three of the Federal Reserve (Fed) speakers on the same day clearly expressed moderate rhetoric to scale back their usually hawkish stance, stirring up hopes that the financial regulator may finish its cloying campaign of interest rate hikes rather sooner than later. Another 0.25% upside move will highly likely follow on July 27, with nearly 95% of investors in Fed fund rate futures currently betting on it. This hike is mostly priced-in on Wall Street stocks.

5 July 2023 09:18

Constantinos Anastasiou

Aussie is Going on High Feet

The Australian Dollar that is usually referred as Aussie among traders are running high after the Reserve Bank of Australia (RBA) kept it interest rates unchanged at 4.10% missing expectation of its hike to 4.35%. RBA said it needs more time to assess the impact of previous rate hikes, but noted that further monetary tightening might be needed. This rhetoric comes very familiar as the U.S. Federal Reserve (Fed) said almost the same after it June meeting, when it decided to pause interest rates hikes. Indeed, the RBA has something to think about after it raised interest rates to 4.

27 June 2023 16:08

Constantinos Anastasiou

Slowing Inflation in Canada May Not Support the Loonie

Inflation in Canada continued to slow down in May. The headline inflation dropped to 3.4% YoY from the previous 4.4%, as was expected. The Core Consumer Price Index (CPI), which excludes volatile energy and food prices, dropped to 3.7% vs 4.1% in April. The drop of the headline inflation is primarily associated with the decline of crude prices. WTI crude prices dropped to $68 per barrel from $83.8 per barrel in early April. The downside trend for inflation in Canada is seen to be positively solid. Inflation has slowed down from 8.1% YoY a year ago, and from 5.

20 June 2023 16:27

Constantinos Anastasiou

Who Could Dump the Pound?

The Bank of England (BoE) is going to announce its monetary decision this Thursday after the European Central Bank (ECB) has raised its interest rates, while the Federal Reserve (Fed) has pressed pause on its hiking cycle. The BoE is expected to raise its interest rate to 4.75% from the current 4.5%. Such expectations are supported by continues economic growth, unemployment at 3.8%, and inflation at 8.7% in the United Kingdom, while the ECB has raised its rates as inflation is at 6.1% in the Eurozone, the unemployment rate is at 6.

13 June 2023 16:12

Constantinos Anastasiou

Lower Inflation in U.S. May Cancel Fed’s Rate Hike in June

Two major central banks will deliver their interest rate decisions this week, as both the Federal Reserve (Fed) and the European Central Bank (ECB) are going to meet on Wednesday and Thursday respectively. U.S. May inflation figures is of great importance for both institutions. The Consumer Price Index (CPI) in May slowed down to 4.0% YoY from 4.9% in April, beating optimistic consensus of 4.1%. Monthly inflation has slowed down dramatically to 0.1% MoM compared with 0.4% in the previous month. Core CPI that excludes volatile food and energy prices was down to 5.3% from 5.

Market Focus

Quotes

Symbol	Bid	Ask	Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64.58% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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