Tag: tickmill
Spotting Key Moves In A Quiet Week With traders readying themselves for the Fed next week, we’ve seen much quieter action across markets this week. While there’s been some noteworthy developments in terms of central bank comments and data releases, we didn’t quite get the volatility we’ve seen in previous week. The calm before the […]
Daily Market Outlook, January 27, 2023 Tesla Leads The Charge, Asian Markets Follow Wall Street’s Lead Higher Asian markets are set to end the week in the green taking their lead from robust trade on Wall Street, led by tech darling Tesla that ended the day higher by nearly 11% taking the Nasdaq higher by […]
Risk Rallies on GDP Beat – PCE Up Next On the back of better-than-forecast advanced Q4 GDP yesterday, traders are now looking to today’s US core PCE data to provide the final insight ahead of the FOMC next week. Given that the PCE data is the Fed’s preferred gauge of inflation, over CPI, the data […]
Oil Traders Increase Longs The latest CFTC COT institutional positioning report shows that oil traders increased their net long positions last week from 205k contracts to 239k contracts. Oil prices have been relatively muted this week though are still up on the year so far having rallied more than 13% off initial 2023 lows. Looking […]
Rising Costs Hurt Profits Shares in UK beverage maker Fevertree are bouncing back today after a more than 15% plunge from yesterday’s closing price. The company, famous for making tonic mixers, issued a profit warning ahead of its upcoming earnings report in March. Fevertree warned that profits for 2023 would likely be lower as a […]
US GDP Up Next Looking ahead to today’s US session, the key events will be the release of advanced US GDP for Q4. The data is drawing a great deal of attention ahead of the first FOMC meeting of the year next week and should we see any surprise in the release, volatility can be […]
The price of Bitcoin remains at the broken level of 22000, trying to form a small spinning white candle. Given the previous formation of a long white candle, it is safe to assume that the pennant formation is about to happen soon. Bitcoin might potentially have to face resistance at the level of 25000. Gold […]
Daily Market Outlook, January 26, 2023 Asian Markets Back Online & In Buoyant Spirits With Hong Kong Scaling 7 Month Highs Asian markets are trading with a mixed tone, the standout exception is the Hong Kong market which has opened with a strong risk on posture, as the Hang Seng printed fresh seven month highs. […]
Currency markets continue to remain in a relative equilibrium with FX majors fluctuating in fairly narrow ranges. US broad equity indices also lack direction, the key benchmark of the market, S&P 500, after two mini-selloffs to 3900 and 3960 in January, remains tied to the level of 4000 points. Oil (WTI benchmark) has been rising […]
Incoming data on the German economy continues to install confidence to Euro longs. After PMI and ZEW, the positive series was updated by the Ifo report, which indicated an improvement in the prospects for the German economy. In January, the index was 90.2 against 88.6 in December and returned to the levels of mid-2022: While […]