Jump to content

Restricted ACcount


Recommended Posts

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 02/02/23 05:08
  • Posts

    • Early Morning Call: dollar falls on Fed slowing inflation comments, boosts gold, base metals Gold spiked to a new higher high while USD slowed after Fed meeting last night.  Jeremy Naylor | Writer, London | Publication date: Thursday 02 February 2023  Central banks The Federal Reserve (Fed) raised its target interest rate by a quarter of a percentage point on Wednesday, as expected, to between 4.5%-4.75%. Early data shows that the US central bank's aggressive efforts to combat inflation are bearing fruit, but the US central bank continued to promise "ongoing increases" in borrowing costs as part of its still unresolved battle against inflation which it says has eased somewhat but remains elevated. Fed chair, Jerome Powell, said that the markets should not expect a rate cut in 2023. The US dollar fell on the announcement, sending US indices higher, and gold to a fresh nine and-a-half-month high. At lunchtime, the Bank of England (BoE) will unveil its decision on rates. With inflation at 10.5% in December, higher than in the US and the eurozone, with wages excluding bonuses rising at their fastest rate since records began in 2001, expectations are for a 10th consecutive rise by half a percentage point to 4%. At its last meeting in December, the Monetary Policy Committee (MPC) voted for a 50 basis point hike to 3.5%. But the vote was split three ways. Two members voted to end the rate rises, while one backed a larger three-quarter point move. Also today, the European Central Bank (ECB) is widely seen hiking by another 50 basis points to 3%, as ECB members made sure in the last couple of weeks to reiterate that they were very much in agreement with Christine Lagarde's scenario of another significant hike. In the US, initial jobless claims will be released at 1.30pm. Economists forecast 200,000 new claimants. Yesterday, the ADP survey revealed that 106,000 jobs had been created in the US private sector last month. Even though the December number was upwardly revised by 18,000, it remains much lower that the expectations of 178,000 job creations. As for tomorrow’s non-farm payrolls, economists anticipate 185,000 job creations in January, following 223,000 in December. The unemployment rate should rise one notch to 3.6%, and average hourly earnings should rise by 0.3% month-on-month (MoM), 4.3% year-on-year (YoY). Equities Elsewhere on equity markets, BT confirmed its full-year (FY) outlook despite the pressure of high energy costs and other inflationary headwinds. It reported a 3% dip in third quarter (Q3) adjusted revenue, just below market expectations. Pretax profit fell 15%. Shell's annual earnings reached $39.9 billion, doubling from a year earlier and far exceeding the previous record of $31 billion in 2008. Shell also announced a new $4 billion share buyback programme over the next three months and said capital expenditure will be between $23bn and $27bn in 2023. Deutsche Bank's fourth quarter (Q4) profit exceeded expectations. Net profit attributable to shareholders was €1.803 billion. That compares with a profit of €145 million a year earlier, and is better than analyst expectations for a profit of around €951 million. In the US, Meta jumped 25% on the IG platform last night. Net income for the fourth quarter fell to $1.76 per share, much lower than the $2.26 expected by analysts. The decline was largely due to a $4.2 billion charge related to layoffs, and office closures. Revenue reached $32.17bn. Shares rose after CEO Mark Zuckerberg described 2023 as the "Year of Efficiency" and updated the market on a series of cost cutting measures, like its plans for lower data-centre construction expenses this year. In total Meta Platforms will cut costs in 2023 by $5 billion to a range of $89 billion to $95 billion. The group also announced a new $40 billion share buyback programme. Tonight, after the bell, Apple is forecast to post earnings of $1.94 per share. Revenue is expected at $121.88bn which would be the first decline since Q1 2019. Apple failed to supply the market with enough iPhones during the period leading to Christmas, as its primary Chinese factory was shut for weeks during Covid lockdowns. Amazon is expected to post earnings of 17 cents per share on revenue of $145.64bn, up about 5.8% YoY. Investors will be attentive to Amazon Web Services' performance as this segment of the business has been taking an increasing share of revenue over the years. In Q3, AWS revenue growth was 27.5% YoY. Outside the tech sector, analysts expect Ford to publish earnings of 62 cents per share, on revenue of $41.87bn. Investors are eagerly awaiting Ford’s earnings guidance. On Tuesday, General Motors forecast adjusted earnings per share for the full-year 2023 of between $6 and $7. If still above Wall Street projections, it represents a decline from 2022 profit. According to Refinitiv estimates Ford's 2023 EPS is expected to fall by nearly 16%. Commodities Oil prices fell yesterday after the EIA confirmed the oil stock rise announced earlier this week by the API. US crude inventories climbed 4.1 million barrels last week. Gasoline stocks rose by 2.6 million barrels and distillate stockpiles rose by 2.3 million barrels.   This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: Indices: After gains on Wall St, where techs outperformed, and in Asia overnight, Europe expected to open higher. Last night the Dax climbed to a new 50wk high FX: USD loses ground after Fed… now comes the BoE and ECB rate decisions  Equities: META last night up 25% after cost cuts & share buyback. Earnings this morning SHEL BT DBK. This evening AAPL AMZN GOOG F. BP rises oil exposure away from renewables  Commods: Gold spiked to a new higher high last night after the Fed sent the USD down.  Oil down heavily at new 3wk lows         
    • Elliott Wave Analysis TradingLounge Daily Chart, 2 February 23, NEO/U.S.dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Diagonal Position: Wave 5 Direction Next higher Degrees: Sub-wave of Wave C Wave Cancel invalid Level: 5.96 NEO/U.S.dollar(NEOUSD) Trading Strategy: NEO has recovered well from the 5.96 level, but even so, the price is still below the MA200, which may still be under pressure from selling pressure. And there is a reversal chance in wave 2 and wait for an opportunity to join the trend again once wave 2 completes. NEO/U.S.dollar(NEOUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish. TradingLounge Analyst: Kittiampon Somboonsod Elliott Wave Analysis TradingLounge 4H Chart, 2 February 23, NEO/U.S.dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Diagonal Position: Wave 5 Direction Next higher Degrees: Wave (1) of Motive Wave Cancel invalid Level: 5.96 NEO/U.S.dollar(NEOUSD) Trading Strategy: Neo Coin is in Impulse Wave structure, in an uptrend wave 5 is likely to end. Price is reversing in wave (2) larger degrees. Wait for wave (2) complete to rejoin the trend. NEO/U.S.dollar(NEOUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators above Zero-Line Bullish momentum.
  • Create New...