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Articles
Share Buybacks: A Double-Edged Sword for Investors?
Share buybacks refer to the practice where a company purchases its own shares from the open market or directly from its shareholders. In practice this results in a reduction in the number of outstanding shares available in the market, and so buybacks can also have an impact on the stock's price, as the reduction in supply can drive up demand a...
August 14, 2023Read More >FX analysis – markets turn risk-off on weak Chinese data, Moody’s downgrade – USD bid, AUD sinks
Global markets were buffeted by a risk-off catalysts in Tuesdays session. Weak Chinese trade data, hawkish Fed-speak and a Moody’s downgrade of US regional banks saw stocks and yields tumble FX Markets USD was firmer Tuesday in a session that was firmly risk-off following the Chinese trade data and Moody’s downgrade. Later in the session ...
August 9, 2023Read More >$APPL: Apple finds key support after August sell-off.
Apple has had a spectacular start to 2023, locking in 7 consecutive positive months and putting in an increase of 52.16% year to date at its peak. However, August so far isn’t looking as healthy. Despite the positive financial performance beating Q3 earnings expectations, Apple shares are down 8.48% for the start of August. Profit taking aft...
August 9, 2023Read More >Bank of England Decision could send the Pound Lower
Since March 2023, the GBPUSD had been trading higher as the US Federal Reserve and the Bank of England (BoE) maintained along their path to continue raising rates, as they battled to bring inflation down to their 2-3% target level. As the DXY recovered in strength, this led the GBPUSD to reverse from the high of 1.3130, trading down toward the l...
August 2, 2023Read More >Nasdaq cements its best start to a year since 1975
The Nasdaq Composite Index has kicked off 2023 with a historic performance, achieving its most impressive start since 1975. Despite concerns about a potential recession, the index has displayed remarkable resilience, surging over 37% year-to-date as of the end of July. The upward trend has been consistent, with green months recorded in 6 out of ...
August 2, 2023Read More >FX Analysis – USD Catches a Bid, AUD outperforms ahead of RBA, JPY struggles
USD rallied modestly into month end with DXY pushing to the top of its recent range to again test the big 102 resistance level. The data highlight out of the US was the Chicago PMI figure which rose from the prior 41.5 to 42.8, but missing expectations of 43.3. in FedSpeak, Governor Goolsbee added little new from the FOMC statement last week st...
August 1, 2023Read More >FX analysis – USD up on rising yields, EUR down on dovish ECB, JPY surges ahead of BoJ
US equity markets snapped a record-breaking run of up sessions in Thursdays trading, with the Dow Jones looking set to close in the green for a 14th straight session (for the first time since the Dow’s inception), before seeing a sell-off on rising yields after a report that the BoJ is looking to tweak their YCC at their meeting today. FX Mark...
July 28, 2023Read More >FOMC Preview – One and Done, or More to Come? The Charts to Watch
The long-awaited July FOMC meeting is finally upon us where rates markets are pricing in a sure thing for a 25bp hike (even a small chance of a 50bp), the question that traders will be looking for to be answered is “is this it?”. With a growing number of economists calling this the top in rates, butting up against the FOMC June statement and un...
July 26, 2023Read More >Gold eases heading into FOMC
After a fortnight of trending north, Gold has fallen over the past 5 days. It is currently trading at around $1960, showing a slight decline of approximately 1.35% from its recent high of $1987.53. Price is currently trying to break out of the downward channel that it has been in since late last week, so something to keep an eye on going into th...
July 26, 2023Read More >FX Analysis – Treasury Yield surge Pushes USD Higher, AUD Outperforms on Hot Jobs Report
The US Dollar was firmer Thursday, continuing its bounce from extreme oversold levels, the DXY peaking at 100.97, just short of the major resistance at the big 101 figure. A much lower than expected initial jobless claims figure saw a jump in US treasury yields, propelling the USD higher with the DXY having it biggest up day since May. AUD w...
July 21, 2023Read More >Eyes on EURUSD going into European inflation data
After surging close to 4% since early July off the back of a weakening USD, the EURUSD pair has stabilised around $1.123. With very little volatility seen this week in the pair, eyes now turn to the euro, as the European inflation data is set to be released today. Analysts are predicting a continued downward trend in inflation, with a Year-on-Ye...
July 19, 2023Read More >US Dollar analysis ahead of pivotal CPI reading
The US Dollar Index (DXY) has closed its fourth consecutive day in the red, reaching levels last seen in early May 2023. Despite the recent decline, the DXY is coming into support around the 100 level, which has proven to be a resilient bounce point multiple times. However, each bounce appears to be getting smaller, which might indicate growing ...
July 12, 2023Read More >FX Market analysis – USD lower ahead of key CPI figure, GBP breaks out on strong jobs data
USD was marginally lower in Tuesdays session , trading in a tight range amid thin newsflow and market participants awaiting the key June CPI reading released later today. After breaking the psychological 102 level in Mondays session, DXY tested a re-entry into the range but found the previous support at 102 acting as stiff resistance, seeing DXY ...
July 12, 2023Read More >Potential Reversal on the NZDUSD?
The current market consensus is that the Reserve Bank of New Zealand (RBNZ) would likely keep interest rates at 5.50% at the upcoming meeting on 12th July. This is supported by the RBNZ’s monetary statement indicating that “monetary policy is having a sufficiently moderating effect on demand and inflation, and that we are yet to see the full ef...
July 11, 2023Read More >FX markets analysis – DXY, JPY, AUD, MXN, CNH, EUR
USD rose on Wednesday with participants returning from the long weekend pushing the Dollar Index above the key 103.00 level. FOMC minutes from the June meeting were released, with nothing new in Dot Plot projections but they did confirm that some policymakers were pushing for a 25bp hike rather than the hold we got, which lent support to the USD. A...
July 6, 2023Read More >
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