Stock split fails to lift SHOP, shares down 4%

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 flirts with 1.2100, lowest in nearly two weeks post-Fed’s Powell and BoE’s Bailey

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

Dollar strength is disinflationary at the margins

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, DOW and FTSE Mixed as Sentiment Tug of War Continues

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

German CPI Falling, EUR/CHF Hits Parity

German CPI Figures HICP Prelim: M/M -0.1% (Exp. 0.4%), Previous (1.1%), Y/Y 8.2% (Exp. 8.8%), Previous (8.7%)CPI Prelim: M/M 0.1% (Exp. 0.3%), Previous (0.9%), Y/Y 7.6% (Exp. 8%), Previous (7.9%) Following the lower than prior regional German CPI data, the national figures fell short of analyst estimates, with the monthly harmonized reading posting its first … Read more

Annual HICP declines to 8.2% in June vs. 8.8% expected

HICP inflation in Germany declined unexpectedly in June. EUR/USD continues to fluctuate above 1.0500 after the data. Inflation in Germany, as measured by the Harmonized Index of Consumer Prices (HICP), declined to 8.2% on a yearly basis in June’s flash estimate from 8.7% in May. This print came in lower than the market expectation of … Read more