Major Indexes in Europe and the US came under pressure as traders went risk off. New banking concerns for the US weighed on the action along with worse than expected economic data. Traders will be focused now on the FOMC rate statement to see what the Fed has to say about inflation. Expectations are that the Fed will raise rates 0.25% and potentially signal one...
Major Indexes in the US and Europe moved lower as concerns about the banking sector and contagion (seeing more regional banks come under fire) reared its ugly head again. First Republic Bank dumped 30% after reporting a 40% drop in deposits which pushed the broader market lower while Tech found support after some good earnings beats brought in the bargain hunters....
Major Indexes in the US moved lower led by the Nasdaq while Europe is expected to play catchup when they open for the coming session and open weaker. Sentiment turned sour after some key companies either missed the mark on earnings or guided down while economic data came in weaker than expected triggering recession concerns again. The action was 'risk off' which...
Major Indexes edged higher Friday into the weekend with both Europe and the US posting minor gains. The US had economic data out that came in stronger than expected and sent US Bond Yields higher to add further fuel to the interest rate rise narrative. Share market traders have been in a holding pattern awaiting a big week of earnings this week in the US as some...
Major Indexes were generally flat to lower both in Europe and the US as traders digest the UK CPI print and what may be in store for US inflation. The UK saw core CPI out at 6.2% vs 6.0% expected which is unchanged from the previous release. The BOE will not be happy with the figure as inflation remains high and they will need to raise rates further. This sets up...
Major Indexes were relatively flat overnight as traders digest US earnings and the continued rally into Bond yields. Inflation remains the main focus along with Company Guidance over the coming weeks. The USD continued the move up which pressured commodities and USD denominated currencies. For now, traders are happy to remain risk on into shares although they are...
In this update we review the recent price action in the #Copper futures contract and identify the next high probability trading opportunity and price objectives to target
Major Indexes were either range bound or weakened in Europe and the US. The DAX drifted lower from the open and the FTSE gave up most of the earlier gains into the close while the DOW ended slightly higher and the Nasdaq added to the previous sessions losses to end lower. Traders will be risk adverse coming into Easter and add to that the US employment data which...
Major Indexes moved lower as banking concerns weighed on the US along with fears of an economic slowdown. Employment data out in the US disappointed and pointed to a slowing jobs market which sets up for an interesting Payrolls release Friday. The USD took a hit, which supported Gold, as traders start thinking of a recession. Being the end of quarter, we may see a...
Major Indexes were mixed to start the new week in Europe and the US. The DAX was down while the UK100 was higher while over in the US the DOW was buoyed by a strong energy sector and the Nasdaq ended lower. We may see the markets drift in the coming sessions as they await the key US employment release and further direction for inflation and interest rates. The USD...
European markets rallied from the open which led to a strong open to the USD and a very bullish session. All indexes were up as stock traders went bargain hunting as they brush aside banking woes. For me inflation still needs to cool a lot further before bulls can take control and US consumers are not in a good way which may eventually weigh on markets again. Bond...
European markets gapped up and then saw a slow grind lower while the US could not take out the previous sessions highs and also moved lower into the close. The US was weighed down by big tech as inflation and rate rises are again the main focus. US Bond yields continued to press higher which weighed on tech stocks and the overall broader market. Elevated Consumer...
European markets bounced back to finish higher and provide a stronger start to the US session. The US was mixed with the DOW higher while Tech was lower as traders now re-focus on inflation and higher interest rates. This can be seen through support into the USD and higher US Bond yields. As the banking crisis takes a backseat in the news, I expect traders will...
European markets were sold lower again on the back of banking fears and look ready to be pressured again at the start of the new week. The US opened weaker to follow on from Europe but found an intraday low and rallied into the close to brush aside the earlier weakness. The USD is back moving higher after breaking the recent downtrend leaving Gold to find some...
Dr Copper has a PHD in economics. narratives can be wrong, be price action is closer to truth. Lots of stories about no landings and china re opening. But price action is saying something else.
A review of the price action from the European session and the US session. Major indexes again took a big hit lower in a risk off move ahead of the Key US data release on employment. Investors feel it is hard to take up the slack of higher prices when labour market is at capacity and the consumer becomes more reluctant to spend. Inflation and rate rise...
A review of the price action from the European session and the US session. Major indexes were generally range bound to mildly higher. Inflation and rate rise expectations kept the major indexes under pressure with the focus now on the major US employment data release. The USD held onto the recent gains while US bonds held onto the recent lows. I remain of the...
A review of the price action from the European session and US sessions which gave us some choppy price action but generally bullish from a weak open both in Europe and the US. To me, markets remain under pressure but bulls continue to provide support on pullbacks. There is no fear driven selloff which shows that bargain hunters still believe in a longer term move...