Share: Stock market analysis and trading strategies: NASDAQ, Apple (AAPL),Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft MSFT, Meta Platforms, Netflix (NFLX), Alphabet GOOGL Stock Market Summary: The current move up in Indices and stocks is now in its later stages Wave iii) of A that can top late Monday, but more likely Tuesday. Look
Share: Spot Gold prices head into the week’s close trading into the midrange. XAU/USD mixed on US NFP miss. Near-term trend still tilted towards the upside. The XAU/USD bid into an intraday high just shy of $2,005 on Friday following the worst read on US Nonfarm Payrolls (NFP) in almost 3 years, but
The XAU/USD rate fluctuates around $1,987 – the July high was formed around this price. And having overcome it, the market stabilized, as evidenced by the ADX indicator, which dropped to its minimum for the month. Gold is up about 9% in three weeks on war fears. Moreover, if we take the year 2023, then
Last Friday, the market sold off as the University of Michigan Consumer Sentiment report saw a big miss across the board with the inflation expectations figures spiking back up. This might be a signal that the consumers are indeed weakening, and it could be a bad omen for the broad market. Moreover, we got some
Yields and the USDIndex popped higher after the hotter than projected 0.4% rise in headline CPI. Still low initial jobless claims added to the moves. The front end of the Treasury curve is underperforming on the more hawkish implications for the FOMC. The report has fostered some profit taking on the recent Treasury rally. The
UK: The BoE kept interest rates unchanged at the last meeting. The central bank is leaning more towards keeping interest rates “higher for longer” but it kept a door open for further tightening if inflationary pressures were to be more persistent. Key economic data like the latest employment report showed a very high wage growth
US: The Fed left interest rates unchanged as expected at the last meeting. The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024.
Last Friday, the NFP report massively beat forecasts with 336K jobs added against 170K expected. The unemployment rate remained unchanged at 3.8% and average hourly earnings were a touch lower. Overall, the market viewed it as a good release with the soft-landing narrative prevailing. Over the weekend, Hamas launched a big attack against Israel which
The miss in the ADP report yesterday gave the market a bit of relief after a series of strong economic data like Jobless Claims, ISM Manufacturing PMI and Job Openings. The ISM services PMI has also printed bang on expectations, and coupled with the other reports, supports the soft-landing narrative. Moreover, the market was also