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Overnight on Wall Street: Wednesday 17 February 2021
By Lachlan Meakin Equity markets US Equity markets started strongly with a post Presidents Day holiday bump, only to fade during the session with only the Dow 30 managing to keep in positive territory and hit another record high. It was a quiet night on the news front with nothing released to drive the markets. To gauge the progress of the US ...
Read MoreOvernight on Wall Street: Tuesday 09 February 2021
By Lachlan Meakin Equity markets US Equity markets rallied strongly last night with the Dow Jones jumping more than 200 points to hit another record. The 6 day winning streak has seen the Dows best upward run since August last year as investors remained optimistic about further Covid stimulus and economic recovery in the US. Dow jones up 237 (0....
Read MoreOvernight on Wall Street: Thursday 04 February 2021
By Lachlan Meakin Equity markets Major US and European indices had a quiet night finishing mostly flat after 3 days of solid gains. US corporate earnings have been strong all week helping to lift equity markets and give investors optimism that the US economic recovery is progressing well. Paypal (PYPL) reported after the bell with figures beating...
Read MoreOvernight on Wall Street: Wednesday 03 February 2021
By Lachlan Meakin Equity markets US Equity markets soared last night with strong corporate earnings, stimulus bill progress and promising progress on US COVID vaccination rates. European markets trailed along posting strong gains and Australian and Asian markets are looking to open solidly in the green. Dow Jones up 475 (1.57%) NASDAQ up 209 ...
Read MoreOvernight on Wall Street: Thursday 28 January 2021
By Lachlan Meakin Equity markets US and European Equity markets suffered a considerable drop last night with the S&P 500 (US500) posting its worst session since October and European markets their worst session of the year. The FOMC policy statement overnight struck a less dovish tone than investors had hoped for, while the central bank kept be...
Read MoreOvernight on Wall Street: Thursday 21 January 2021
By Lachlan Meakin Equity markets US markets pushed decidedly higher last night with the S&P 500 (US500) hitting record highs on the optimism that federal spending will revive growth and support corporate earnings with the new Biden administration inaugurated. The NASDAQ 100 (NDX100) jumped more than 2% as Netflix (NFLX.NAS) surged after report...
Read MoreOvernight on Wall Street: Wednesday 20 January 2021
By Lachlan Meakin Equity markets US equity markets rallied Tuesday as traders returned from the long weekend. Tech stocks outperformed with the Nasdaq (NDX100) up more than 1.5% on the back of signs of mounting support for significant fiscal stimulus. Reporting earnings tonight will be Procter & Gamble (PG.NYSE) and Morgan Stanley (MS.NYSE) ...
Read MoreOvernight on Wall Street: Tuesday 19 January 2021
By Lachlan Meakin Equity markets With the US equity markets closed in observance of Martin Luther King day it was a quiet night on European exchanges with little change of mixed performance. Yesterday we saw China GDP q/y beat expectations which made it the only major global economy to grow in 2020. We saw rallies in the China A50 index and the H...
Read MoreNZDJPY – Kiwi Gathers Momentum Eyeing 77.88
NZDJPY- Daily NZDJPY- The Japanese Yen finally regained some ground against the US Dollar during this afternoon's London session but continues to display weakness against many of its counterparts. In particular, the NZDJPY and AUDJPY crosses remain technically bullish in the short-term. Looking at the NZDJPY daily trend, we see a validated bull...
Read MoreCrude Oil – Saudi Production Cuts Spark Rally
USOIL- Hourly USOIL- It's been an impressive start to the year for Crude Oil prices so far, with prices steadily rising to over $50 per barrel and returning to pre-pandemic levels. It would seem many underestimated such a speedy recovery. Still, with the general uptick in global commodity prices and a pledge from Saudi Arabia to cut production ...
Read MoreEURUSD – Goldman’s 1.28 Estimate Matches P&F Analysis
EURUSD- Point & Figure EURUSD- The overall weakness of the US Dollar continues to dominate much of the FX markets at this stage. Despite a slight uptick in USDJPY this afternoon, the longer-term picture is starting to suggest more of the same, particularly against a much stronger Euro. In September, Goldman Sachs mentioned a 12-month price ...
Read MoreOvernight on Wall Street: Wednesday 06 January 2021
By Deepta Bolaky @DeeptaGOMarkets Equity markets It was another mixed performance in the global stock market on Tuesday. European stocks were mostly under pressure while the US share market ended with modest gains ahead of the run-off elections results. In the European markets, while oil and gas stocks rallied on the back of a compromise regardin...
Read MoreOvernight on Wall Street: Tuesday 05 January 2021
By Deepta Bolaky @DeeptaGOMarkets Equity markets Global equities started the new year on a mixed note as investors digested the rising number of coronavirus cases in major economies, further social distancing measures and lockdowns, and the runoff elections in the US which will likely determine the first two years of the Biden administration. Eu...
Read MoreOvernight on Wall Street: Thursday 17 December 2020
By Deepta Bolaky @DeeptaGOMarkets Equity markets Global equities are finding support on positive geopolitical headlines and the first round of vaccinations. Brexit is at a key turning point and investors are closely monitoring any statements or discussions to gauge the path towards a deal. In the final weeks leading up to the Brexit deadline, bot...
Read MoreOvernight on Wall Street: Wednesday 16 December 2020
By Deepta Bolaky @DeeptaGOMarkets Equity markets Risk sentiment was buoyed by the first round of vaccinations and the positive headlines on US stimulus putting aside further lockdown restrictions in Europe. Investors are closely monitoring the measures undertaken by governments from major economies to curb the spread of the virus. Germany, the fo...
Read MoreEURJPY – Unearthing A Potential 2015 Target
EURJPY - Point & Figure EURJPY - At the start of the month, we witnessed a sizeable shift in sentiment towards the Euro, hiking up demand and resulting in a strong bullish rally. Since then, price action has behaved mostly sideways, but there are signs of bullish activity stemming from this initial move. In today's Chart of The Day, we're lo...
Read MoreOvernight on Wall Street: Tuesday 15 December 2020
By Deepta Bolaky @DeeptaGOMarkets Equity markets It was a mixed start to the week for the global stock market. Investors digested some positive news towards the end of last week and over the weekend. Despite ongoing tough negotiations, both the EU and the UK are keeping hopes alive following a promising phone call on Sunday. On the virus front, t...
Read MoreOvernight on Wall Street: Thursday 10 December 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Global equities are swinging between losses and gains since the start of the week following conflicting headlines on vaccine, Brexit and US stimulus talks. European markets fared better than US stocks on Wednesday and managed to hold on to some gains. Source: Bloomberg Terminal On Wall Street, ...
Read MoreOvernight on Wall Street: Wednesday 09 December 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Stocks in the European and US session edged higher on promising vaccine updates and stimulus talks. Amid tougher lockdown restrictions in the US, a stopgap funding measure may be passed to avert a government shutdown. Majority of the major equity indices closed in positive territory while the FTSE ...
Read MoreCOTD: GBPJPY – Bullish Sentiment On A Tightrope
GBPJPY - 4HR GBPJPY - Last week we looked at EURGBP and the technicals relating to potential issues surrounding the trade talks deadline. Sticking with the general theme, today's Chart of The Day focuses on another Sterling cross GBPJPY, possibly becoming more volatile over the coming days. While somewhat choppy on the 4hr timeframe, the pair...
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