Stocks, EUR rally on data; oil higher ahead of OPEC meet
Friday June 22: Five things the markets are talking about Euro equities are on the rise, along with U.S stock futures, as Euro manufacturing and services data this morning beat analysts’ expectations, dragging along with it the EUR (€1.1667). Crude oil prices start Friday better bid, after OPEC and its allies are rumoured to have…
EUR/USD – Euro Gains Ground on Strong Services PMIs
EUR/USD has posted gains in the Friday session, continuing the upward trend we saw on Thursday. Currently, the pair is trading at 1.1639, up 0.32% on the day. On the release front, the focus is on manufacturing and services PMIs. Germany and the eurozone posted Services PMIs of 53.9 and 55.0, respectively, both of which…
Gold Analysis: Up to $1280 Before Resuming Downward Trend?
In the past week, gold has fallen by almost three percentage points. The decline started after the Fed meeting a week ago in which the officials sounded more hawkish than expected. The statement said that the Fed was…
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Goldman Forecasts Lower Stock Prices Ahead
A continued surge in corporate earnings will have only limited benefit for stock prices, which face multiple policy obstacles, according to Goldman Sachs. In fact, the bank’s strategists have raised their S&P 500 profits expectations through 2020, but do not expect the improved climate to have a meaningful impact on equity returns. “The US economy…
US Leading Economic Index Rose 0.4% in May
The Conference Board’s Leading Economic Index increased 0.2 percent in May, short of economists’ expectations. The index was expected increase 0.4 percent in May, according to economists polled by Reuters. May’s increase marks the seventh month of gains, after jumping 0.4 percent to 109.4 in April. “While May’s increase in the U.S. LEI was slower…
USD/JPY – Japanese yen higher, Japan inflation data next
The Japanese yen has posted gains in the Thursday session. In the North American trade, USD/JPY is trading at 110.01, down 0.31% on the day. On the release front, key U.S indicators were mixed. The Philly Fed Manufacturing Index slid to 19.9 points, its lowest level since August. There was better news on the employment […]
DAX under pressure as investors fret over trade tensions
The DAX index has posted gains in the Thursday session. Currently, the DAX is at 12,614, down 0.65% on the day. On the release front, the sole eurozone indicator is consumer confidence, which is expected to remain pegged at zero for a fifth straight month. On Friday, Germany and the eurozone will release services and manufacturing PMI reports.…
Oil falls -2% as OPEC nears deal to raise production
Thursday June 21: Five things the markets are talking about Currently, there are many moving parts that are keeping capital market players on their toes. President Trump and Chancellor Merkel continue to deal with immigration policy worries, while trade and tariffs tops most central bankers and other leaders’ agendas. Overnight, the U.S dollar remains better…
EUR/USD – Stumbling euro falls to 11-month low, U.S jobless claims next
EUR/USD has posted losses in the Thursday session. Currently, the pair is trading at 1.1521, down 0.46% on the day. On the release front, the sole eurozone indicator is consumer confidence, which is expected to remain pegged at zero points for a fifth straight month. In the U.S, there are two key indicators. The Philly Fed…
Swiss Franc Drops After Dovish SNB Shows No Signs of Tightening
On Tuesday, the Swiss Federal Government’s Expert Group released its economic forecast for the year. In the statement, the officials said that they expect the economy to grow by 2.4%, which was in line with the previous projections….
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