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European Equities, Inflation, Crypto Talking Points ECB forum continues with the Fed, ECB and BoE maintaining a hawkish narrative CAC 40, IBEX 35 and EU Stoxx Index end in the red but DAX 40 leads the way Bitcoin (BTC/USD) trades side-ways, while Ethereum remains faithful to $1,100 Europe Fundamentals, ECB Forum and Inflation Fears Drive … Read more
Gold reversed from two-day highs and is back near weekly lows. US dollars rises across the board following comments from Portugal. Gold prices dropped sharply during the American session, erasing daily gains. XAU/USD peaked at $1833, the highest level in two days and then turned lower, falling to $1814, slightly above the daily low of … Read more
US DOLLAR OUTLOOK: The US dollar rallies on Wednesday after the Fed chairman offers hawkish comments at an ECB hosted summit Powell says that the FOMC is committed to bring inflation down to 2% and that the process may involve some pain This article explores key technical levels to watch in the DXY index over … Read more
Shopify gives shareholders 10 shares for every 1 as of June 28. SHOP stock lost 6.1% on Tuesday in tandem with Nasdaq. Shopify stock is expected to open around $35. UPDATE: Shopify’s 10-for-1 stock split failed to entice retail traders on Wednesday. Shares that closed at a split-adjusted price of $35.02 on Tuesday, opened at … Read more
GBP/USD watch heavy follow-through selling and dropped to a nearly two-week low. Fed Chair Powell’s hawkish comment boosted the USD and exerted downward pressure. Comments by BoE Governor Bailey did little to impress bulls or lend support to the pair. The GBP/USD pair added to the previous day’s heavy losses and remained under intense selling … Read more
Europen Central Bank (ECB) President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB’s annual Forum on Central Banking. Key quotes Powell: “Dollar strength is disinflationary at the margins.” Powell: “We are working hard to get smarter about the supply side.” Bailey: … Read more
DAX 40:Struggles as German State Inflation Data Fails to Inspire. FTSE 100:Runs Out of Steam as Fears of a Global Slowdown Return. DOW JONES: Higher Following Yesterday’s Rout Amid Grim Consumer Confidence Picture. DAX 40: Struggles as German State Inflation Data Fails to Inspire The Dax struggled in early European trade before recovering some losses … Read more
The Australian Dollar has benefited from higher global equity markets and higher prices for industrial commodities, especially copper and iron ore, after China eased restrictions. The 7-day average of new Covid cases in China indicates the possibility of additional easing, which could contain the slowdown in China’s economy, and the strengthening of the Australian Dollar … Read more
EUR/USD is on the back foot. The pair is set to extend its downfall, however, the 1.05 level holds for now, economists at Scotiabank report. Bullish progress dented “Multiple failures to hold a bid above 1.06 (and above its 50- day MA) and the correction over the past 24 hours would suggest the EUR will … Read more
The Market Week – June Week 4 This week the markets have seen inflation angst, tightening in central bank policies, recession concerns, and geopolitics, while the advent of month- and quarter-end rebalancing – a time when fund managers typically rebalance their portfolios, a process that can contribute to asset price swings – added some spice. … Read more