China Caixin services PMI slips to 51.8
UK100 erases earlier losses
Potential breakout confirmation could be a bullish signal
05-09-2023 09:58 GMT
by Craig Erlam
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The month started with a bang with the US jobs report but the following week is looking a little more subdued, starting with the bank holiday on Monday. Economic data is largely made up of revisions and tier-three releases.
01-09-2023 08:02 GMT
by Craig Erlam
Now that we heard from Fed Chair Powell at the Kansas City Fed’s Jackson Hole Symposium, the focus shifts back to the data. This week is filled with data that will outline how quickly the economy is weakening.
25-08-2023 10:13 GMT
by Craig Erlam
The share price performance of Nvidia has been the main driver of Nasdaq 100 outperformance/premium against the rest of the world stock indices ex-US.
Lofty expectations have been priced in for Nvidia ahead of its Q2 earnings release today.
Several bearish technical elements have emerged in the share price of Nvidia.
23-08-2023 05:15 GMT
by Kelvin Wong
Stocks positive ahead of CPI
Can the US deliver another promising surprise?
Range-bound but another slide could test 7,400
10-08-2023 08:16 GMT
by Craig Erlam
Chinese imports fall by 12.4%, exports decline 14.5%
Pullback coincides with quiet summer trading
Key support in UK100 may be seen around rising trendline from pandemic lows
08-08-2023 15:55 GMT
by Craig Erlam
With inflation steadily cooling, the Fed’s historic tightening campaign appears to be ending. The focus on Wall Street won’t just be inflation but now also economic activity.
The upcoming week will be filled with several economic readings. On Monday, we will see two Fed regional surveys. The MNI Chicago PMI is expected to slightly improve while the Dallas Fed manufacturing activity report remains deeply in negative territory.
28-07-2023 15:17 GMT
by Craig Erlam
Chinese stimulus hopes fails to lift the FTSE
Unilever among best performers in the index after reporting earnings
UK100 not far from all-time highs
It's been another relatively flat session for equity markets, with investors seemingly having one eye on the Fed and ECB later in the week despite a strong showing in Chinese stocks earlier in the day.
They were lifted by the promise of Chinese stimulus following the Politburo meeting this week and some potential relief for property market.
25-07-2023 12:46 GMT
by Craig Erlam
Chinese growth fears mount after GDP data
Rate cut not coming yet from PBOC
FTSE 100 nearing some key levels
17-07-2023 12:42 GMT
by Craig Erlam
Attention remains on US inflation data today
Only a much lower core CPI reading could tempt the Fed to reconsider hiking in two weeks
UK100 rebounds but caution may remain unless key level is overcome
12-07-2023 06:25 GMT
by Craig Erlam
Wall Street awaits Fed Chair Powell and counterparts at ECB forum
Mortgage demand rises for a 3rd straight week
10-year Treasury yield down 1.9 bps to 3.745%
28-06-2023 09:15 GMT
by Edward Moya
Global bond yields rise; 10-year Treasury rises 4.1bps to 3.762%
Consumer Confidence hits highest levels since January 2022
Dow eyes first gain in 7 trading days
US stocks are bouncing back after some strong US economic data gave a boost to consumer discretionary stocks and as investors piled back into AI trades. The losing streak had to end, but that doesn’t mean the market will resume.
27-06-2023 14:16 GMT
by Edward Moya
While Europe appears at great risk for a recession as traders bet on aggressive rate rises by all the European central banks, the Fed is still expected to be nearing the end of their respective rate hiking campaign. The focus in the US will fall on the PCE readings. If inflation comes down as expected, the swap futures might grow even more confident that the Fed will only deliver one more rate hike.
23-06-2023 15:16 GMT
by Edward Moya
“Artificial Intelligence” (AI) equity-theme plays are the main contributor so far in the current bull market.
Non-technology companies are now jumping into the AI-related bandwagon.
The gap between current AI optimism and economic cyclical factors has widened.
21-06-2023 04:04 GMT
by Kelvin Wong
US Street is starting to get nervous as we near the X-date. A US default seemed unimaginable a couple of weeks ago and despite a lot of positive comments from both sides, negotiations will go down to the wire and that means the risk that it falls apart is growing. Treasury Secretary Yellen will soon provide an update on the X-date and that could show talks might have an extra week from the current June 1st deadline to get a deal done.
26-05-2023 12:45 GMT
by Craig Erlam
Fed swaps earlier priced in a quarter-point rate rise by July FOMC Meeting
10-year Treasury yield rises 4.4 bps to 3.784%
Nvidia delivers biggest one-day market value gain in US history
25-05-2023 12:23 GMT
by Edward Moya
Wall Street will remain focused on debt ceiling drama, a plethora of Fed speak, flash PMIs, and bank stress. It will be a busy week filled with economic releases, with most of the attention falling on the first look at the May PMI readings, a second look at Q1 GDP/Core PCE, New Home Sales, and the FOMC meeting minutes.
19-05-2023 12:29 GMT
by Craig Erlam
Unsettling market volatility is going to be here for a while as Wall Street broadly downgrades their end of year S&P 500 targets. The bond market is telling us they firmly believe Fed Chair Powell has rolled up his sleeves and is ready for this fight with inflation to get ugly.
23-09-2022 14:22 GMT
by Edward Moya
NZD/USD remains under pressure and is trading below the symbolic 0.60 level. Earlier today, the pair fell to 0.5976, its lowest level since May 2020.
New Zealand dollar slides after US inflation data
It was Black Tuesday for the New Zealand dollar, as NZD/USD declined by 2.24%.
14-09-2022 07:50 GMT
by Kenneth Fisher
Can the Fed afford to ease off the brake?
The end of last week was a bit of a reality check for investors that were maybe getting a little carried away with the supposed "dovish pivot" from the Fed and turning a blind eye to the data and what central bank policymakers were saying.
Perhaps the experience of the last 12 months can explain the latter but there's no ignoring the data that we saw on Friday. The US economy is certainly not behaving like it's in a recession; rather the labour mar
05-08-2022 12:10 GMT
by Craig Erlam