Market wrap-up: a wave of profit-taking dominates today's trading
American stock markets fell today, as European stock indices witnessed a significant decline due to fears of a second wave of the Coronavirus pandemic. This potential return to crisis levels of infection could delay the global economic recovery that has been anticipated – or hoped for – in second half of the year.
Weekly Wrap Up (31 July – 4 August)
4 Aug 2017 08:21 PM |The US dollar managed at the end of the week to erase losses since the beginning of the week, following positive employment data that exceeded expectations in July. The Non-Farm Employment Change Index added 209 K jobs with the June reading revised to 231 K jobs. Also, unemployment rates were at their 16-year low of 4.3%, and the hourly wage rose by 0.3% in July.
Daily Wrap Up – 3 August
3 Aug 2017 08:07 PM |The Australian dollar erased yesterday's gains and fell significantly against the US dollar today, reaching its lowest level since July 26 at 0.7913, after the Australian trade surplus narrowed in June more than expected, with a surplus of only 856 A$ million. After breaking the ascending channel on the 4 hours chart, the AUDUSD is trying to re-test the broken bullish trend line and is expected with stabilizing below, it would be targeting the support level at 0.7873 then 0.7755.
Daily Wrap Up – 2 August
2 Aug 2017 06:18 PM |The New Zealand dollar fell significantly, with the New Zealand dollar hitting its lowest level since July 20 at 0.7390, following the disappointing New Zealand employment data for the second quarter, the employment rate fell by 0.2% against expectations of a 0.7% rise. This is the first time that New Zealand's employment rate has been down for two years, and the positive thing that unemployment fell to 4.8% at its lowest level in eight years.
Daily Wrap Up – 1 August
1 Aug 2017 09:00 PM |The most significant move today was a drop-in oil prices from a two-month high of 50.40$ a barrel to 48.30$ as ample global supplies countered strong demand, as well as expectations of a continuing fall in US crude inventories.
The week ahead (31 July – 4 Aug.): Spot again on NFP, and will BOE surprise the markets?
30 Jul 2017 10:30 PM |As usual, markets are looking to the US non-farm employment data on the first Friday of each month to monitor labor market improvements and the impact on the Federal Reserve rate hike. The Bank of England and the Reserve Bank of Australia will also be in the spotlight. Below are the highlights of the week's important economic data.
Weekly Wrap Up (24-28 July)
28 Jul 2017 08:07 PM |This week, there has been a lack of significant economic data. The start was in Australia, when inflation figures slowed in the second quarter of 2017 unexpectedly, with the consumer price index rising 1.9% year-on-year, while rising 0.2% quarter-on-quarter. The Australian dollar rose throughout the week against the US dollar, to a two-year high of 0.8064.
The week ahead (24 – 28 July) : Nothing new expected from the US Fed
23 Jul 2017 04:46 PM |We will have a new trading week, events and new economic data. This week, the focus will be on the USD and some events that will have a direct impact on it and whether it will recover or continue to weaken after failing to pass the health care law and market uncertainties about Trump's ability to achieve his electoral promises. Discover the most important market drivers during the week:
Weekly Wrap Up (17 – 21 July )
21 Jul 2017 06:50 PM |This week witnessed several important economic data and events that had a significant impact on market movements. The following are the highlights of these movements and their reasons:
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