IGTV on Demand

[MongiIG]

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: London outperforms and expected to open up after Monday’s gains. Continental Europe mixed as tech takes another punch to the stomach

FX: DXY continues to weaken albeit a slow grind, ahead of tomorrow’s US rate decision. GBPUSD 3wk high, EURUSD & USDJPY little or no move – BoJ minutes showed JPN needs massive monetary support to weather the hit from rising commodity prices and supply disruptions caused by China's COVID-19 lockdowns   

Equities: Earnings – EZJ ULVR UBS MSFT GOOG KO GM UPS. WMT fell almost 10% last night after poor guidance

Commods: Brent & WTI 200day SMA successfully defended again. Gold little move. Copper near 3wk high

 

 

 

[MongiIG]

Early Morning Call: easyJet shares under pressure following Q3 loss

easyJet posts third quarter loss amid short-term disruption issues while Walmart fell almost 10% after poor guidance. Earnings today from ULVR, UBS, MSFT, GOOG, KO, GM and UPS.

 

 Jeremy Naylor | Writer, London | Publication date: Tuesday 26 July 2022

Indices outlook

Indices in the Asia-Pacific region mostly rose overnight, following modest gains recorded on the Dow Jones and S&P 500. The Nasdaq posted a decline of 0.43%.

In Japan, the minutes of the latest Bank of Japan (BoJ) meeting show that its members agreed the economy still needed massive monetary support to weather the storm from rising commodity prices and supply disruptions. They see wage hikes as key to sustainably achieving their 2% inflation target. For now companies in the country remain reluctant to hike wages due to uncertainty about their business outlook.

South Korea's economy grew 0.7% in the second quarter, which was higher than the 0.4% growth expected by economists.

In the US, investors and traders await updates on the state of the housing markets in the country. S&P/Case-Shiller home price index and house price index will be released at 2pm, followed an hour later by new home sales.

Corporate news

Corporate reports are gathering pace in Europe.

After Ryanair Holdings PLC (LSE) yesterday, it is easyJet PLC's turn to publish it third quarter (Q3) trading statement this morning. It reports a loss before tax of £114 which it attributes to disruption caused by staff shortages.

Unilever PLC raised its full-year guidance after posting better-than expected half year sales. It now expects full-year underlying sales growth at the top of a range of 4.5% to 6.5%.

Swiss Bank, UBS posted a smaller-than-expected rise in net profit for the second quarter. Profit in the three months ended June increased by 5% $2.108 billion, missing expectations $2.4bn. Revenues at its investment bank fell 14%.

In the US, Walmart Inc (All Sessions) slashed its profit forecast. It sees its adjusted earnings per share (eps) for the second quarter declining around 8% to 9%, compared its previous outlook of flat to slightly up. The retailer expects its full-year profit to decline by 11% to 13%, compared to the 1% fall it previously forecast.

In a context of food and energy soaring prices, demand for home goods, appliances and kitchenware is falling, leaving retailers with mountains of inventory. In May, Walmart cut clothing and general merchandise prices to reduce backlog, and will need to continue tio do so, squeezing its margins further. Walmart shares dropped in after-hours trading, taking its rivals Target Corp and Amazon.com Inc (All Sessions) with it.

Today will again be a very busy session in terms of quarterly earnings releases. Coca-Cola Co (All Sessions), UP, General Motors Co (All Sessions) and General Electric Co (All Sessions) are among the companies set to report before the opening of the stock market.

Microsoft Corp (All Sessions) is scheduled to report its fiscal fourth quarter earnings tonight after the closing bell. The street expects earnings to rise by 6% year-on-year (YoY) to $2.29 per share. Revenue is also forecast to increase, by 13.5% YoY, to $52.43bn. Microsoft realises around 50% of its revenue outside the US, and therefore will be negatively impacted by the strength of the dollar of the past few months.

Alphabet Inc - C (All Sessions) is another one to report tonight after market close. Analysts anticipate earnings of $1.28 per share, down 5% on the same quarter a year ago, but just above last quarter's EPS. Revenue is expected to rise by 13% YoY to just over $70bn.

In a context of growing recession fears, the advertising segment is the one investors will concentrate on as it is will be the first sector to suffer from economic slowdown.

In the first quarter of 2022, 80% of Google's total revenue came from Google advertising. In Q1, advertising revenue rose by 22% YoY, but that pace is expected to slow from the second quarter. By how much in Q2, and what does the group expect for the following quarters? This is what investors want to know.

 

 

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.

[MongiIG]

Charting the Markets: 26 July

FTSE, DAX and Dow expected to push higher despite current consolidation. EUR/USD little changed while EUR/GBP slips and AUD/USD probes downtrend. And WTI, natural gas and gold rally.

 

 

 

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.

[MongiIG]

Market data to trade on Wednesday: USD and a long list of earnings

This week is the eye of the earnings storm with Lloyds Bank, Glaxo, Rio and British American Tobacco in the UK and Deutsche Bank in Europe reporting.

Then it's Boeing and Meta (Facebook) in the US.

Outside of earnings the US rate decision could see EUR/USD parity being challenged again should the Fed turn up the hawkish rhetoric.

 

 

 

 

[MongiIG]

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: London again outperforms on upside, but all of Europe expected to open up for today’s cash session. Wall St & APAC mostly down

FX: All about the US rate decision today – USD holding much of Tuesday’s gains apart from a drop vs GBP pushing towards $1.21. EUR suffers from Nordstream constriction. AUDUSD down for 2^nd day as AUS CPI as expected  

Equities: All about earnings – LLOY GSK RIO BATS MC DBK CSGN ADS BA F META. Last night both MSFT & GOOG climbed on results

Commods: Gold & oil little moved

 

 

 

[MongiIG]

Early Morning Call: watching EUR/USD ahead of Fed rate decision

Banks dominate the earnings scene across European markets as CS misses and DBK warns. LLOY, GSK, RIO, BATS, MC, CSGN, ADS, BA, F and META also reporting. In FX markets it's all about the US rate decision today.

 

 Jeremy Naylor | Writer, London | Publication date: Wednesday 27 July 2022 

Indices outlook

Indices in the Asia-Pacific region were mixed overnight after a negative session in the US, where once again technology stocks led losses. Likewise, Hong Kong’s tech stocks weighed on the Hang Seng.

In Australia, trimmed mean consumer price index (CPI), the inflation reading favoured by the Reserve Bank of Australia (RBA), rose by 4.9% in the second quarter (Q2), after an increase of 3.7% the previous quarter, and higher than the 4.7% expected.

FX markets

Currency markets are muted ahead of the the Federal Open Market Committee (FOMC) decision tonight.

US rates are poised to take another dramatic step today, with a second straight 75-basis point (bps) hike on the cards. But the Fed's strategy beyond that point is less certain as it weighs a fresh rise in consumer price growth against mounting recession risks.

Earnings update

Ahead of the Fed decision, investors and traders will have to digest another wave of earnings.

In the UK, Lloyds Banking Group PLC reported a fall in first-half profits. Rising borrowing costs and consumer goods prices forced the lender to set aside more cash.

GlaxoSmithKline PLC has raised its full-year (FY) outlook after recording a 19% increase in sales. British American Tobacco PLC (LSE) reported a drop of 25% in its first-half profit, due to a charge worth £957 million on the transfer of its Russian business. Also look out for reports from Rio Tinto PLC, Fresnillo PLC and Reckitt Benckiser Group PLC.

Elsewhere in Europe, look out for Adidas AG at the open. The sporting goods maker has cut its 2022 earnings forecast. The company released an unscheduled statement yesterday evening in which is said, "given the continued widespread Covid-19-related restrictions, Adidas now expects revenues in Greater China to decline at a double-digit rate during the remainder of the year."

LVMH Moet Hennessy Louis Vuitton SA posted higher-than-expected revenue for the second quarter, up 19%. The French luxury group benefited from a tourist boom in Europe and resilient US sales, offsetting a drop in its Chinese operations.

Also reporting this morning, Deutsche Bank AG. The German lender has lowered its full-year investment bank revenue forecast. Credit Suisse Group AG (CH) meanwhile posted a larger-than-expected quarterly loss and announced the departure of its CEO.

In the US, Microsoft Corp (All Sessions) rose in extended trading yesterday evening after saying it forecast double-digit growth this fiscal year. Despite the positive forecast, Microsoft's Q4 results missed expectations. The group posted earnings of $2.23 per share, six cents lower that what economists has anticipated. Revenue rose by 12% to $51.87 billion, driven by its cloud computing division but came short of estimates of $52.43bn, impacted bya decline in PC shipments during the last quarter.

Alphabet Inc - C (All Sessions) also rose in after-hours trading, despite earnings and revenue missing estimates. Investors reacted positively to the news that sales at Google Search, the group’s biggest money maker, beat expectations.

Today, watch out for quarterly reports from Boeing Co (All Sessions) and The Kraft Heinz Company before market opens. Meta Platforms Inc (All Sessions) and Ford Motor Co (All Sessions) are set to report earnings after the closing bell.

 

 

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.

[MongiIG]

Charting the Markets: 27 July

Worsening consumer confidence weighs on equities. In FX markets all eyes are on the Fed ahead of tonight's rate decision. And WTI stuck below $100 once again - we also look at gold.

 

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.

[MongiIG]

Market data to trade on Thursday: EUR/USD; BARC; SHEL; AMZN; AAPL

The earnings season continues with some big names reporting on Thursday, including Barclays, Shell, Amazon, and Apple. IGTV’s Daniela Sabin Hathorn looks at their latest charts.

 

 

[MongiIG]

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:

 

The Fed rate decision as expected and soothing words from Chair Jay Powell saw money go into risk assets pushing the VIX down below 200 day SMA for 1^st time in 4mths  

Indices: Much of Wall St closing near 2mth highs, pushing up global mkts across the 24hr session. Europe expected to open up APAC all higher, apart from HSI, overnight

FX: USD saw another pullback driving EURUSD back up above 1.02 GBPUSD nearing 1.22. JPY up to near a 1mth high vs USD

Equities: Ton of earnings today – BARC BT ITV SHEL DGE NESN VOW STLA AIR AAPL AMZN INTC PFE & lots more. Last night META was flat while F climbed almost 10% on earnings

Commods: The relief of a weaker USD pushed gold up to 2wk highs, Copper to near 1mth high, oil up

 

 

 

[MongiIG]

Early Morning Call: USD sees another pullback after Fed rate decision

USD saw another pullback driving EUR/USD back up above 1.02; GBP/USD nearing 1.22; JPY near 1-month high vs USD. Lots of earnings today: BARC, BT, ITV, SHEL, DGE, NESN, VOW, STLA, AIR, AAPL, AMZN, INTC and PFE, among others.

 

 Jeremy Naylor | Writer, London | Publication date: Thursday 28 July 2022 

Indices outlook

It was a mixed session in the Asia-Pacific region despite a rally for US stocks in the last hours of yesterday’s session.

The Nasdaq posted its biggest daily percentage gain since April 2020 as the Federal Reserve (Fed) raised interest by 75-basis points (bps). The tech index also got a boost from upbeat quarterly reports from Microsoft Corp (All Sessions) and Alphabet Inc - A (All Sessions).

Currencies

As expected, the US Federal Reserve pulled another 75bps rate hike out of the bag. Rates now stand at a target range of between 2.25 to 2.5%. It was a unanimous decision and followed a similar rise last time and a half point rise the previous occasion.

In a press conference following the decision, Jay Powell, Fed chair, said that as the central bank continues to tighten policy "it likely will become appropriate to slow the pace of increases" while policymakers assess how rate rises are affecting the economy and inflation. Those remarks prompted a stock market rally, and the dollar lost ground against all major currencies. GBP/USD hit a four-week high, USD/CAD briefly fell to levels not seen since June. Overnight, USD/JPY extended gains to settle firmly under ¥135.

The fall of the greenback also had a positive effect on gold which climbed back to two-week highs, along with base metals.

Today, currency traders will turn their focus on inflation in Germany. Last month, consumer price index (CPI) slowed for the first time in five months falling to 7.6% from 7.9% which was the highest reading since Germany reunification. This afternoon at 1pm, economists expect the index to fall further to 7.4% in July year-on-year (YoY).

In the US, second quarter (Q2) gross domestic product (GDP) is expected at 1.30pm. Economists forecast an expansion of 0.5%. Also at 1.30pm we'll see initial jobless claims figures, which rose to 253,000 last week.

Corporate news

On the corporate front, today is arguably the busiest day in terms of earnings publication in Europe this quarter.

Barclays PLC reports profits before tax of £3.7 billion for the first six months of the year, down from £4.9bn in the same period a year ago.

BT Group PLC's revenue increased by 1%, helped by price rises and improved trading in its consumer division and Openreach networks, and remains confident about its outlook.

ITV PLC's first half (H1) total advertising rose 5%, while digital advertising is up 20%. The group expects total advertising revenue for the nine months to be flat, before it enjoys a pickup from the football World Cup at the end of the year.

Shell PLC has reported a profit of $11.5bn for the second quarter, beating expectations, lifted by strong refining profits and energy prices. The company also announced a share buyback programme of $6bn in the third quarter.

Elsewhere in Europe, investors will be particularly attentive to carmakers, Volkswagen AG (Ord) and Stellantis NV (Italy), Nestle SA, Anheuser-Busch InBev NV - ADR, Banco Santander SA (LSE), Sanofi and a few more after all these groups report earnings this morning.

In the US, Facebook parent Meta Platforms Inc reported a steeper-than-expected drop in revenue yesterday evening. Earnings missed expectations and the group issued a surprisingly weak forecast pointing to a second consecutive decline in year-over-year sales.

Ford Motor Co (All Sessions) saw its shares climb around 9% to a near three-month high last night as it beat top and bottom line estimates. Adjusted earnings per share (EPS) came in at 68 cents, 23 cents higher that expectations. Automotive revenue came close to $38bn, up from $24.13bn this time last year.

Pfizer Inc (All Sessions) is set to post its quarterly earnings before markets open today. The pharmaceutical giant is expected to report earnings of $1.79 per share, to be compared to the $1.07 recorded during the same quarter last year. Revenue is also expected to rise sharply to $26.79bn. Another pharmaceutical group, Merck & Co., is also set to report at lunchtime.

Analysts are gearing up for a series of reports after market close, starting with Apple Inc (All Sessions). The Cupertino California-based company is forecast to post earnings of $1.16 per share. Revenue is expected to increase by 1.7% to $82.81bn.

Amazon.com Inc (All Sessions) is forecast to report earnings of 13 cents per share. Revenue is set to rise by just over 5% to $119bn. Amazon shares are more than 20% down year-to-date. In Q1, the group posted a disappointing set of earnings and outlook. Analysts will be particularly attentive to advertising revenue. Amazon has the third largest ad market behind Alphabet and Meta. Cost cuts could be also announced. Amazon faced the challenge of a fast expansion during the pandemic. It has now too many workers and is considering leasing out portions of its warehouses.

Market expect increases in earnings and revenue for Apple and Amazon, but a fall is on the cards for Intel Corp (All Sessions). Intel's earnings are expected to nearly halve to 70 cents per share. For the same quarter last year, the group posted earnings of $1.28 per share. Revenue is also set to decline to $17.92bn from $18.53bn a year ago.

 

 

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.

[MongiIG]

Charting the Markets: 28 July

Indices rally post 75bps Fed rate hike and accommodating comments. EUR/USD and AUD/USD rally while EUR/GBP drops for fifth consecutive day. And Brent crude and gold on the rise as lumber falls towards key support.

 

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.

[MongiIG]

Market data to trade on Friday: EUR/GBP; RBS; XOM; FIO

Earnings season continues and IGTV’s Daniela Sabin Hathorn looks at charts of Natwest (RBS), Exxon Mobil (XOM), and Chevron (FIO) ahead of their latest earnings out on Friday the 28th of July.

 

 

[MongiIG]

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:

 

Volatility continues to drain out of the markets as traders return to long positions on risk assets

Indices: Expecting a rise at the start in Europe. Gains overnight in APAC apart from China & HK for a second day.

FX: USD continues its drop losing most vs GBP & JPY after weak US GDP data showing a technical recession

Equities: Earnings – NWG STAN AZN BNP AFKLM RNO. Last night AMZN best upside performer up 15%, APPL up 3.5% and INTC down 8.8%. Jack Ma cedes control of Ant Gp to authorities & Xiaomi hits regulatory hurdles in its EV aspirations

Commods: Gold continues to add weight Oil down

 

 

 

[MongiIG]

Early Morning Call: gold price soars as USD falls following weak GDP data

Gold at three-week highs as USD continues its drop, losing most against GBP and JPY, after weak US GDP data showing a technical recession. Earnings today from NWG, STAN, AZN, BNP, AFKLM and RNO.

 

 Jeremy Naylor | Writer, London | Publication date: Friday 29 July 2022

Indices outlook

US equity markets recorded another positive session yesterday, which didn’t reflect on the APAC region's performance overnight. Hong Kong’s Hang Seng fell as tech stocks came under pressure.

Alibaba Group Holding Ltd (All Sessions) shares dropped for a third day in a row as several Ant Group executives stepped down.

In Japan, industrial production rose by 8.9% in June month-on-month (MoM). Economists were expecting a 3.7% increase. This is the first increase in industrial output since March, and the fastest pace on record, reversing the 7.5% drop recorded the previous month.

Retail sales in Japan also rose but not as much as economists had forecast. The index increased by 1.5% in June year-on-year (YoY). Consensus was 2.8%. The unemployment rate in the country meanwhile stood at 2.6% in June.

Currencies

On the currency market, the greenback extended its losses overnight, continuing the trend that started when it was announced that the US economy shrank by 0.9% in the second quarter (Q2), missing forecasts of an expansion of 0.4%.

Gold reacted positively to US gross domestic product (GDP) news, and extended gains overnight and now trades at three-week highs.

This morning, economists await preliminary growth figures for Q2 across Europe. France has already published its data: +0.5% in Q2. Economists were expecting an expansion of 0.2%, after -0.2% the previous three months.

At 9am, Germany GDP is expected to rise only by 0.1%, decelerating from 0.2% growth in the first quarter (Q1). And an hour later, eurozone growth data is expected. The economy in the euro area is expected to expand by 0.2%, after a 0.6% expansion the previous quarter.

In the US, personal income and spending data for June is scheduled at 1.30pm, as well as the Federal Reserve’s (Fed) favoured reading of inflation: core PCE price index is expected at 4.7% YoY, unchanged from last month.

Corporate news

On the corporate front, there were many earnings releases yesterday and overnight.

NatWest Group PLC posted better-than-expected profit for the first-half (H1) of the year. Pre-tax profit came in at £2.6 billion, up from £2.3bn the previous year and ahead of the £2.2bn average of analyst forecasts compiled by the bank. It also announced a 16.8p special dividend amounting to £1.75bn.

Standard Chartered PLC (LSE) reported a better than forecast pre-tax profit in the first half, rising 19% to $2.8bn, increased its interim dividend and announced a $500 million share buyback.

AstraZeneca PLC raised its full-year (FY) revenue guidance after beating earnings forecasts. It now expects revenue to rise by a percentage point in the low twenties rather than the high teens forecast previously.

In Europe, BNP Paribas SA recorded a better-than-expected revenue in Q2, with CIB revenue rising 16%, and FICC Trading revenue up by 14.8%.

Renault SA posted a €1.36bn net loss in the first half of this year from the cost of closing its Russian business but said operating margins in H1 were 4.7%, against 2.1% in the same period last year. The French car maker raised its forecast for full year margins to more than 5% from a forecast of 3% previously.

In the US, Apple Inc (All Sessions) stock rose in extended hours trading, after posting marginally better-than-expected earnings and revenue and announcing forecasted faster sales growth and sustained strong iPhone demand.

Amazon.com Inc (All Sessions) shares jumped in extended trading on Thursday after the company reported better-than-expected second quarter revenue, including advertising revenue, and gave an optimistic outlook. Revenue came in at $121.23bn, $2bn more than expected, bucking the trend among its tech peers, which have all reported disappointing results.

On the other hand, chip maker Intel Corp (All Sessions) reported lower sales for a second straight quarter and gave a gloomy sales outlook, sending the stock down 9% in extended trade. Intel said sales in the second quarter fell 22% to $15.3bn, missing Wall Street's expectations. It generated a net loss of $454m, compared with a profit of $5.75bn this time last year.

 

 

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.

[MongiIG]

Charting the Markets: 29 July

S&P 500 trading at 7-week highs while FTSE 100 and DAX 40 struggle to keep up. EUR/USD, GBP/USD, and USD/JPY see counter-trend moves on dollar weakness. And gold and Brent rally while natural gas is giving back recent gains.

 

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.

[MongiIG]

Early Morning Call: China PMI falls; HSBC earnings update

China PMI just shy of contraction territory for July, with European data expected later on. Equities see their best month since November 2020. And HSBC's earnings beat expectations.

 

 

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.

[MongiIG]

Charting the Markets: 1 August

FTSE 100, DAX 40 and S&P 500 on the back foot after strong July rally. EUR/USD and AUD/USD remain bid while EUR/GBP stabilises. And Brent crude and natural gas pull back, while gold looks to continue its recovery.

 

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.

[MongiIG]

Market data to trade on Tuesday: AUD/USD; BP PLC

IGTV’s Daniela Sabin Hathorn looks at charts of AUD/USD and BP PLC ahead of the Reserve Bank of Australia’s interest rate decision and BP second quarter earnings out on Tuesday the 2nd of August.

 

 

[MongiIG]

Early Morning Call: geopolitics dominates; Aussie rates rise

Europe expected to open down as geopolitics affects markets, China the biggest loser overnight amid Nancy Pelosi's scheduled visit to Taiwan. Gold's uptrend continues. AUD/USD drops below 70c as RBA lifts rates 50bps as expected.

 

 

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.

[MongiIG]

Charting the Markets: 2 August

FTSE, DAX and Dow ease back as Pelosi heads to Taipei. AUD/USD slumps and EUR/USD edges lower, while GBP/USD looks towards the next UK rate hike. And gold and natural gas prices rise while oil drops.

 

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.

[MongiIG]

Market data to trade on Wednesday: EUR/USD

As inflation continues to pose a great threat to the eurozone economy, IGTV’s Daniela Sabin Hathorn looks at the latest EUR/USD chart ahead of the retail sales and PPI data for the eurozone out on Wednesday the 3rd of July.

 

 

 

 

[MongiIG]

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: Europe expected continue the August drift lower after another small drop on Wall St. APAC mostly higher

FX: USD broadly holding Tuesday’s gains as Pelosi’s Taiwan visit goes ahead. USDCNH down for a second day as China Services PMI data strongest in 15mths

Equities: Earnings – TW CBK JET – last night ABNB down 4.9%, AMD down 5% HOOD up 1.3%. PYPL up 10% after $10bln share buyback announced and Elliott invests about $2bln in the business   

Commods: Gold up after yesterday’s drop. Oil holds recent declines

 

 

 

[MongiIG]

Early Morning Call: markets risk-off as USD holds gains

USD broadly holding Tuesday’s gains as Pelosi’s Taiwan visit goes ahead; USD/CNH down for a second day amid strongest China Services PMI data in 15-months.

 

 

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.

[MongiIG]

Charting the Markets: 3 August

FTSE, DAX and Dow weakness could bring buying opportunity. EUR/USD, GBP/USD, and AUD/USD head lower, but will recent bullish trend return? And on the commodities front we look at Brent, gold, platinum and silver.

 

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.

[MongiIG]

Market data to trade on Thursday: GBP/USD; BYND

Join IGTV’s Daniela Sabin Hathorn as she looks at a chart of GBP/USD ahead of the Bank of England meeting on Thursday the 4th of August. She also looks at a chart of Beyond Meat (BYND) ahead of their second quarter earnings.

 

 

 

[MongiIG]

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: Europe expected up as traders see good economic data. Positive session on Wall St and in APAC mkts

FX: Watching sterling as BoE expected to raise rates by 50bps - widest margin in 27yrs

Equities: Earnings: RR NXT ADS BAY. Last night EBAY up 4.5% on Q2

Commods: Oil closing in on 6mth lows. Gold up. Lumber breaks support to go to near 1yr lows

 

 

 

[MongiIG]

Early Morning Call: BoE rate decision; oil losses build

Watching sterling as BoE expected to raise rates by 50bps - widest margin in 27-years. Europe expected up as traders see good economic data; positive session on Wall Street and in APAC markets. Oil closing in on 6-month lows.

 

 

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.

[MongiIG]

Charting the Markets: 4 August

Tied into a bigger picture where the markets have yet to see the end to higher rates and slowing growth, IGTV's Jeremy Naylor caught up with Serge Berger from thesteadytrader.com.

They discuss the outlook for the Nasdaq 100, Apple, Brent, Lumber, USD/JPY and gold.

 

 

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.

[MongiIG]

Market data to trade on Friday: US NFP

Join IGTV’s Daniela Sabin Hathorn as she looks at charts of the Dollar Index (DXY) and USD/JPY ahead of the July US non-farm payrolls data out on Friday the 5th of August.

 

 

 

 

[MongiIG]

Early Morning Call: China indices outperform while USD strength persists

Indices in China outperform as the PBoC cuts Loan Prime Rates. USD continues to strengthen ahead of the Jackson Hole Symposium. On the corporate front, Zoom will report Q2 earnings after market closes tonight.

 

Daniela Sabin Hathorn | Presenter and Analyst, London | Publication date: Monday 22 August 2022

Equity market overview

US equity markets ended the week on a negative note, with technology stocks leading losses, while it was a mixed session overnight in the APAC region.

China indices outperformed after the People's Bank of China (PBoC) cut its key rates for the second time this year, in an effort to revive an economy hit by a property crisis and a resurgence of COVID-19 cases. The Bank lowered its one-year Loan Prime Rate (LPR) by 5-basis points (bps) to a record low of 3.65%. The 5-year LPR, to which the pricing of home mortgages is linked, decreased by 15-basis points to 4.30%.

The move didn't come as a surprise. A Reuters poll conducted last week showed that 25 out of 30 respondents predicted a 10-bps reduction to the one-year LPR. The decision of a larger cut of the 5-year LPR makes sense according to economists’ comments, as it is meant to boost long-term financing demand.

This week, all eyes will be on Federal Reserve (Fed) chair, Jerome Powell. On Friday morning, he will deliver his 'Economic Outlook' speech at the 2022 Jackson Hole Economic Policy Symposium, which could give further indication as to how high US interest rates may go, and for how long.

For the moment, the market is still pricing Fed rates to peak at around 3.65% early next year, expectations that haven't changed in the last two weeks. But what has changed is the amount of rate cuts expected between March and December next year. Reuters data shows that rates are expected to go down by 40-bps during that period, down from 60-bps two weeks ago.

Forex markets

The dollar is little changed this morning, after strengthening against major currencies last week. EUR/USD remains close to parity, while GBP/USD is still close to its mid-July low.

Corporate news outlook

On the corporate front, Zoom Video Communications Inc is set to report its fiscal second-quarter (Q2) earnings after market closes tonight. Analysts expect earnings of 93 cents per share. For the same quarter last year, the company reported earnings of $1.36 per share. Revenue is forecast to rise by 9.4% to $1.12 billion.

While Zoom Video Communications thrived during the pandemic, consistently beating earnings and sales estimates every quarter, and continuing to raise guidance, the group is now struggling to maintain its pace of growth. It had to make strategic decisions and is now focusing on business customers who will make up an increasingly larger share of revenue. It is also selling technology solutions that improve meetings involving remote and in-office workers.

Otherwise, very few earnings reports of importance are expected this week. On Wednesday, NVIDIA Corp (All Sessions) is forecast to post earnings of 53 cents per share on revenue of $6.83bn, which is higher than the group's own revenue forecast.

Earlier this month, the largest US-based chipmaker warned that because of the slowdown in the PC market it won’t be able to meet its earlier revenue forecast. NVIDIA now expects revenue of $6.7 billion for the quarter, 17% below its previous forecast.

On Thursday a few retailers are due to report quarterly earnings, and one to watch out for is Gap Inc. Analysts anticipate a loss of 5 cents per share. Sales of the clothes retailer are expected at $3.82bn.

Commodities

Oil prices are down this morning, putting an end to three consecutive days of gains.

Last Friday, Baker Hughes said total rig count in the US decreased by 1 to 762, due to a decline in gas rigs in operation. Working oil rigs remained at 601.