RT @SimpsonsQOTD: “Facts are meaningless. You can use facts to prove anything that's even remotely true. Facts schmacts." https://t.co/SME2…
David Madden Wed 18 Aug 2021 10:55- $NZDUSD dropped to a 9 month low, while it holds below 0.6950, it is possible the recent bearish trend will continue. A drop below 0.6867 could bring 0.6800 into play. If 0.6950 is cleared, it might target 0.6994. https://t.co/FnPIVDAW1d David Madden Wed 18 Aug 2021 10:55
- RT @notayesmansecon: Why did UK CPI fall to 2%? 1. The clothing sales turned up in July 2. It ignores housing costs 3. Computer games fell… David Madden Wed 18 Aug 2021 08:00
- The dividend was lifted to 110p a share from 70p. $PSN -0.7% Link David Madden Wed 18 Aug 2021 07:30
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- RT @PriapusIQ: ? European Opening Bell ? ?? FTSE 100 up 0.1% ?? STOXX 50 flat ?? STOXX 600 up 0.1% ?? DAX up 0.1% ?? CAC flat ?? IBEX… David Madden Wed 18 Aug 2021 07:09
- "$AUDUSD fell to a nine-month low after the Reserve Bank of Australia (RBA) admitted that it would consider cutting interest rates to new historic lows should the Covid-19 crisis continue" Link David Madden Tue 17 Aug 2021 15:59
FTSE 100 outperforms, Wall Street hit by retail data
It has broadly been another bearish day for equities as a combination of Covid-19 concerns, tighter regulation in China, and disappointing data from the US, soured sentiment. In recent months, the Beijing authorities have been introducing tighter regulation on certain sectors, and overnight tougher rules were revealed for the tech industry. It seems to be a sweeping trend for the second largest economy in the world, and some dealers feel that more sectors will be in for similar treatment.
The news from China ensured that most European markets got off to a negative start, even though some of the major indices are in the red, they are all off the lows of the session. The UK unemployment rate dipped to 4.7%, its joint lowest mark in eight months. Until the furlough scheme ends, we will not get a clear picture of the jobless rate. The number of job vacancies jumped to 953,000 - a record level – so that is a clear sign...
- $USDCAD hit its highest mark in 4 weeks, and positive momentum is rising. If the rally continues, it could target 1.2729. RSI have moved into overbought territory, is the rally overstretched? A fall could find support at 1.2533? https://t.co/48iZ4juOyj David Madden Tue 17 Aug 2021 11:24
- RT @PriapusIQ: ? Walmart Inc ( $WMT ) Q1 2022: ? Adj. EPS: 1.78 (exp. 1.57) ? Revenue: 139.87bln (exp. 137.16bln) ? Raises FY22 adj. EP… David Madden Tue 17 Aug 2021 11:14
- BHP declared a record final dividend of 200 US cents (145p) after a “strong” set of final results Profit from operations surged 80% year-on-year to $25.9bn, with underlying EBITDA coming in at $37.4bn, at a record margin of 64%. $BHP +7.8% Link David Madden Tue 17 Aug 2021 07:48
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- A buying blitz "Buyout groups spent $45 billion snapping up companies in Britain in the first half of 2021, Refinitiv data shows, more than double the next best first six months on record and almost 10% of the total $547 billion they spent across the world" Link David Madden Mon 16 Aug 2021 15:23
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- RT @FxPesaKenya: Economic and fundamental developments 16 August 2021 https://t.co/glGJ5eLBAH David Madden Mon 16 Aug 2021 14:43
- Fantastic work by @Postvox (Ireland's postal service) ?? https://t.co/SlD8atv4tN David Madden Mon 16 Aug 2021 14:13
- Gold has hit a 10 day high, while it holds above 1763, the recent uptrend could continue. A rally might target 1801. The RSI is approaching overbought territory, a sign the bullish move could become overstretched? 1763 or 1741 might provide support? $XAU https://t.co/BKjIrQZ7uX David Madden Mon 16 Aug 2021 13:38
- RT @FxPesaKenya: ??Shocking Chinese economic data pushes stock indices lower ??Oil prices fall after reduced demand growth forecasts ??li… David Madden Mon 16 Aug 2021 13:23
- RT @PriapusIQ: ?? US NY Fed Manufacturing (Aug): 18.3 vs. Exp. 29.0 (Prev. 43.0) ~ @Newsquawk David Madden Mon 16 Aug 2021 12:38
- RT @PriapusIQ: ?? Japan to expand state of emergency lockdown measures to seven additional prefectures - nhk David Madden Mon 16 Aug 2021 09:52
- Commodity and equities prices stumbled on Monday after investors worried about the impact of the political uncertainty in Afghanistan and another wave of Covid-19 infections in China Link David Madden Mon 16 Aug 2021 09:52
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- Retail sales in China rose 8.5% in July as compared with a year ago, according to official data released Monday. That was far lower than the 11.5% rise forecast by analysts in a Reuters poll. Link David Madden Mon 16 Aug 2021 07:17Retail sales in China rose 8.5% in July as compared with a year ago, far lower than the 11.5% rise forecast by analysts in a Reuters poll.Japan's GDP rose 0.3% in the second quarter as compared with the previous three months, when it contracted 0.9%, according to official preliminary estimates.
- "So even though [Michigan] consumer confidence is a lot lower, cost forecasts have increased, so that is the worst of both worlds" Link $XAU $SPX $UKX David Madden Fri 13 Aug 2021 15:55
Gold shines as dollar drops
Equity markets in Europe and the US continue to grind higher as the recovery story is still in circulation. It hasn’t been the most exciting of weeks, partially because of a lack of major economic announcements, and partially due to many market participants taking holidays. We have seen the S&P 500 notch up a number of new record highs this week, and in a way, it sort of feels like the index is on auto pilot. The pandemic is far from over, but for some of the larger economies in the world, it is less of a worry than it was at the start of the year. The DAX has racked up a fresh all-time high and the FTSE 100 is close to its recent 18 month high.
The US dollar index has arguably been the most interesting market this week. On Wednesday, the dip in the US core CPI reading promoted traders to take profit, while yesterday’s jump in PPI pushed up the greenback. Today, things have gone from bad to worse for the currency. It was already in...
- Check out my week ahead video. It covers US retail sales, Powell's speech, Fed minutes and UK CPI. Could we see high volatility in $SPX $GBPUSD and $UKX? Link David Madden Fri 13 Aug 2021 14:50
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- RT @LiveSquawk: US Univ. Of Michigan Sentiment Aug P: 70.2 (est 81.2; prev 81.2) - Current Conditions: 77.9 (est 82.0; prev 84.5) - Expecta… David Madden Fri 13 Aug 2021 14:04
- Thomas Barkin, said the country's job market might take a few more months to recover enough for the Fed to be able to pare back policy accommodation. Link David Madden Wed 11 Aug 2021 14:18
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- RT @PriapusIQ: ? US Opening Bell ? ? $IXIC up 45.12, or 0.31, at 14,833.21 ? $SPX up 11.40 or 0.26%, at 4,448.15 ? $DJI up 111.03 or 0.3… David Madden Wed 11 Aug 2021 13:38
- RT @LiveSquawk: US CPI (M/M) Jul: 0.5% (est 0.5%; prev 0.9%) US CPI Ex Food, Energy (M/M) Jul: 0.3% (est 0.4%; prev 0.9%) US CPI (Y/Y) Jul:… David Madden Wed 11 Aug 2021 12:33
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