Printable View
POUND LITTLE CHANGED AFTER U.K. GDP DATA
At 2.00 am ET Wednesday, the Office for National Statistics has released UK GDP, industrial and construction output and foreign trade figures. The pound changed little against its major counterparts after the data.
The pound was trading at 1.3608 against the greenback, 154.37 against the yen, 1.2649 against the franc and 0.8487 against the euro around 2:01 am ET.
News are provided by InstaForex
AUSTRALIA UNEMPLOYMENT RATE CLIMBS TO 4.6% IN SEPTEMBER
The jobless rate in Australia came in at a seasonally adjusted 4.6 percent in September, the Australian Bureau of Statistics said on Thursday.
That was up from 4.5 percent in August, although it was shy of expectations for 4.8 percent.
The Australian economy lost 138,000 jobs last month, slightly worse than forecasts for the loss of 137,500 jobs following the loss of 146,300 jobs in August.
The participation rate tumbled to 64.5 percent, missing forecasts for 64.7 percent and down sharply from 65.2 percent in the previous month.
News are provided by InstaForex
NEW ZEALAND MANUFACTURING INDEX DUE ON FRIDAY
New Zealand will on Friday see September results for the Performance of Manufacturing Index from BusinessNZ, highlighting a modest day for Asia-Pacific economic activity, In August, the PMI score was 40.1.
Indonesia will release September numbers for imports, exports and trade balance. Imports are expected to surge 50 percent on year, down from 55.26 percent in August. Exports are called higher by an annual 51.57 percent, slowing from 64.1 percent in the previous month. The trade surplus is pegged at $3.84 billion, down from $4.74 billion a month earlier.
Japan will provide August figures for its tertiary industry index; in July, the index was down 0.6 percent on month.
China will see September numbers for foreign direct investment; in August, FDI jumped 22.3 percent on year.
News are provided by InstaForex
SINGAPORE NON-OIL DOMESTIC EXPORTS RISE JUST 1.2% IN SEPTEMBER
The total value of Singapore's non-oil domestic exports was up a seasonally adjusted 1.2 percent on month in September, the Singapore Department of Statistics said on Monday.
That was shy of expectations for an increase of 2.4 percent following the upwardly revised 3.5 percent decline in August (originally -3.6 percent).
On a yearly basis, non-oil domestic exports jumped 12.3 percent - exceeding forecasts for a gain of 9.6 percent following the 2.7 percent gain in the previous month.
News are provided by InstaForex
ESTONIA PRODUCER PRICES RISE IN SEPTEMBER
Estonia's producer prices increased in September, data from Statistics Estonia showed on Wednesday.
The producer price index grew 19.2 percent year-on-year in September.
On a month-on-month basis, producer prices rose 2.8 percent in September.
"Compared to August, the index was mostly affected by price increases in electricity production and in the manufacture of wood products," Eveli Sokman, leading analyst at Statistics Estonia, said.
Import prices rose 2.3 percent monthly in September and gained 17.8 percent from a year ago.
Export prices grew 1.8 percent monthly in September and increased 18.2 percent yearly.
News are provided by InstaForex
POUND LITTLE CHANGED AFTER U.K. RETAIL SALES DATA
At 2.00 am ET Friday, the Office for National Statistics has released UK retail sales data for September. The pound changed little against its major rivals after the data.
The pound was trading at 1.3795 against the greenback, 157.28 against the yen, 1.2663 against the franc and 0.8428 against the euro around 2:05 am ET.
News are provided by InstaForex
FINLAND PRODUCER PRICE INFLATION ACCELERATES IN SEPTEMBER
Finland's producer price inflation increased in September, data from Statistics Finland showed on Monday. Producer prices increased 19.1 percent year-on-year in September, after a 15.5 percent rise in August.
The increase in the producer prices for manufactured products was particularly attributable to risen prices of oil products, basic metals and timber from September last year.
Import prices grew 18.6 percent annually in September and export prices rose by 20.9 percent. On a month-on-month basis, producer prices rose 2.3 percent in September, following a 1.4 percent increase in the prior month.
News are provided by InstaForex
FINLAND JOBLESS RATE FALLS IN SEPTEMBER
Finland's jobless rate decreased in September, figures from Statistics Finland showed on Tuesday.
The unemployment rate for the 15 to 74 age group fell to 7.0 percent in September from 7.5 percent in the same month last year. In August, jobless rate was 6.5 percent.
The number of unemployed persons decreased to 191,000 in September from 203,000 in the last year.
The employment rate rose to 71.7 percent in September from 71.3 percent in the same month last year. The number of employed persons grew by 17,000 from a year ago to 2.52 million.
On a seasonally adjusted basis, unemployment rate fell to 7.6 percent in September from 7.7 percent in August.
News are provided by InstaForex
AUSTRALIA INFLATION DATA DUE ON WEDNESDAY
Australia will on Wednesday release Q3 numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. Inflation is tipped to rise 0.8 percent on quarter and 3.1 percent on year after gaining 0.8 percent on quarter and 3.8 percent on year in the three months prior.
Australia also will see October results for the business confidence index from ANZ; in September, the index score was -7.2.
New Zealand will provide September figures for imports, exports and trade balance. In August, imports were worth NZ$6.49 billion and exports were at NZ$4.35 billion for a trade deficit of NZ$2.144 billion.
China will see September numbers for industrial profits; in August, profits surged 49.5 percent on year.
Thailand will release September data for industrial production; in August, production was down 4.15 percent on year.
News are provided by InstaForex
AUSTRALIA EXPORT PRICES CLIMB 6.2% ON QUARTER IN Q2
Export prices in Australia were up 6.2 percent on quarter in the third quarter of 2021, the Australian Bureau of Statistics said on Thursday - slowing from the 13.2 percent jump in Q2.
Import prices rose 5.4 percent on quarter, accelerating from 1.9 percent in the three months prior.
On a yearly basis, export prices skyrocketed 41.0 percent and import prices jumped 6.4 percent.
The main contributors to the jump in export prices included coal, coke and briquettes; gas, natural and manufactured goods; non-ferrous metals; meat and meat preparations; and petroleum, petroleum products and related materials.
News are provided by InstaForex
AUSTRALIA NEW HOME LOANS SINK 2.7% IN SEPTEMBER
The total value of owner-occupied home loans in Australia was down a seasonally adjusted 2.7 percent on month in September, the Australian Bureau of Statistics said on Monday - coming in at A$20.69 billion.
That missed expectations for a decline of 2.0 percent following the 6.6 percent plunge in August.
Investment lending was up 1.4 percent on month at A$9.62 billion and overall home loans fell 1.4 percent on month to A$30.31 billion.
On a yearly basis, owner-occupied home loans gained 20.8 percent, while investment lending skyrocketed 83.2 percent and overall home loans jumped 35.5 percent.
News are provided by InstaForex
SOUTH KOREA INFLATION RISES IN OCTOBER
South Korea's consumer prices increased in October, figures from Statistics Korea showed on Tuesday.
The consumer price index rose 3.2 percent year-on-year in October, after a 2.5 percent increase in September. This was in line with economists' expectation.
Excluding food and energy, core consumer prices increased 2.4 percent in October, following a 1.5 percent rise in the preceding month.
On a monthly basis, consumer prices rose 0.1 percent in October, after a 0.5 percent increase in the previous month.
The core CPI grew 0.3 percent monthly in October, after a 0.1 percent fall in the prior month.
News are provided by InstaForex
Forex Analysis & Reviews: US stock indices finished trading lower
The Dow Jones Industrial Average on the basis of trading on Tuesday fell by 112.24 points (0.31%) and amounted to 36319.98 points.
Standard & Poor's 500 fell by 16.45 points (0.35%) - to 4685.25 points.
The Nasdaq Composite lost 95.81 points (0.6%) to 15886.54 points.
Some investors saw the market pullback as a little respite after several days of continuous gains. Strong company reports for the third quarter support the stock market, despite continued investor concerns about rising inflation and supply chain problems.
Statistics released on Tuesday showed a slight increase in the rate of rise in producer prices in October compared to the previous month - to 0.6% from 0.5% in September. The acceleration in growth was largely due to the rise in gasoline prices (6.7%). On an annualized basis, US producer prices jumped at a record 8.6%, as in the previous month.
In addition, the National Federation of Independent Business reported that the small business optimism indicator dropped 0.8 percentage points in October, to 98.2 points, the lowest since March.
General Electric Co. rose 2.7% by the end of trading on Tuesday. The American concern announced that it will split operations into three independent public companies.
Tesla Inc. lost almost 12% in price.
The price of securities of the developer of the online video game platform Roblox Corp. soared by 42%.
Car rental Hertz Global Holdings Inc. plunged 9.8% on its Nasdaq debut.
Boeing shares fell 0.9%.
Cruise operator Royal Caribbean's share price fell 2.5% on news of the imminent resignation of the company's chief executive Richard Fane, who has held the post since 1988.
News are provided by InstaForex
Forex Analysis & Reviews: Inflation release provoked a sharp growth in the US dollar
The long-awaited report on consumer inflation in the United States provoked a rapid growth in the US dollar. The impressive macro data turned out to be great support of the US dollar, which took advantage of the situation.
On Wednesday evening, it became known that US inflation accelerated to a maximum in 31 years. According to preliminary forecasts, the growth of annual inflation in the country was expected by 5.8%, and in October, by 0.6%. However, US consumer prices came as a surprise: they soared up to 6.2% in annual terms, and by 0.9% in October. As a result, the consumer price index (CPI) in the United States showed a record growth compared to the same period in 2020.
Analysts drew attention to a significant increase in the base CPI (by 4.6%), which does not include the cost of food and energy. In September, this indicator was 4%. Experts expected the overall CPI to grow by 5.9%, and the base CPI by 4.3%. However, both indicators showed a sharp increase. Economists emphasize that this is the most significant annual rise in inflation for 31 years.
It can be recalled that the target inflation rate set by the Fed does not exceed 2%. however, the current inflation is far from it. This raises the concerns of investors, who are concerned not only about the rate hike in 2022, but also about the specific timing and scale of this increase.
The US currency has benefited from the current situation. It has risen rapidly on the inflationary wave and is now trying to maintain its position. Experts believe that the main reason for the strengthening of the USD is the increase in market rates. The chain of events here is as follows: shocking inflation reports provoked an increase in the yield of treasuries and contributed to the further expansion of spreads between US and German government bonds. An additional factor in this issue was the recent statements by the ECB about the inexpediency of raising rates. The divergence of the rhetoric of the ECB and the Fed led to the expansion of government bond spreads, providing significant support to the US dollar.
Meanwhile, the Euro currency has lost ground unlike the American one. And although it is trying to catch up, it will be difficult for it to surpass its rival. On Thursday morning, the EUR/USD pair traded at the level of 1.1477, leaving the previous range of 1.1500-1.1550.
Despite the Fed's assurances about the "temporary nature of inflation," the situation is getting worse, and the market is less and less believing what has been said. At the same time, the prerequisites for further growth of the US dollar remain. The specified currency is supported by the reduction of the asset purchase program launched by the Federal Reserve. Experts said that this is the first step towards raising rates.
News are provided by InstaForex
US stock indices finished trading with multidirectional dynamics
The Dow Jones Industrial Average fell 158.71 points (0.44%) to 35921.23 points. Standard & Poor's 500 rose by 2.56 points (0.06%), that is, to 4649.27 points. The Nasdaq Composite gained 81.58 points (0.52%) and amounted to 15704.28 points. Tesla Inc. Stock Quote decreased by 0.4%.
Tesla CEO Elon Musk this week sold shares in the company for a total of about $ 5 billion. On Monday, he exercised options to buy more than 2 million Tesla shares, which he received as compensation, for a total of $ 2.5 billion. options amounted to about $ 13.4 million.
Lordstown Motors Corp. rose 23.2% after rising more than 20% in additional trading on Wednesday. The electric car maker has struck a deal to sell its plant to Foxconn for $ 230 million.
Twitter Inc. Papers decreased by 0.7%. The company is creating a team that will develop a strategy for the future use of cryptocurrencies and blockchain technology in general within the social network.
Walt Disney Co. decreased by 7.1%. The world's largest entertainment and media company posted weaker-than-expected earnings and revenues in its fiscal fourth quarter and saw a significant slowdown in subscriber growth for its Disney + streaming service.
Beyond Meat shares fell 13.3%. The American manufacturer of plant-based meat substitutes increased its net loss 2.8 times, while its revenue was worse than forecast.
Yesterday, traders' attention was focused on the statistics published the day before, which indicated a significant acceleration of inflation in the US last month.
According to the Department of Labor, consumer prices in the United States in October rose by 6.2% compared with the same month last year - the highest rate in almost 31 years (since November 1990). A month earlier, inflation in the US was 5.4%, and experts expected it to accelerate in October to 5.8%.
The jump in energy prices in the United States last month amounted to 30% in annual terms, gasoline rose in price by 49.6%. The rate of growth in the cost of food, which amounted to 5.3%, was the highest since January 2009.
According to Ryan Detrick, senior market strategist at LPL Financial, inflation remains steadily high, surprising many who expected prices to return to normal more quickly. He also added that it is impossible to close the $ 20 trillion economy and not feel obstacles in the process of opening it, but we hope that supply chain problems will be resolved in the coming months, and inflation will stabilize.
News are provided by InstaForex
Swiss Inflation Rises In October
Swiss Inflation Rises In October Switzerland's consumer price inflation increased in October, data from the Federal Statistical Office showed on Tuesday.
The consumer price index grew 1.2 percent year-on-year in October, following a 0.9 percent rise in September and August.
Economists had expected a 1.1 percent rise. On a monthly basis, consumer prices gained 0.3 percent in October, after remained unchanged in the previous month.
Economists had forecast a rise of 0.1 percent. Prices for heating oil, gas and fuel increased in October.
The core CPI rose 0.6 percent yearly in October and grew 0.2 percent from the previous month.
The EU measure of harmonized index for consumer prices, or HICP rose 0.4 percent monthly in October and increased 1.3 percent from a year ago.
Separate data from the statistical office showed that the retail sales increased a real working-day adjusted 2.5 percent yearly in September.
On a seasonally adjusted basis, retail sales gained 0.1 percent monthly in September. On a nominal basis, retail sales rose 1.9 percent annually in September and remained unchanged from a month ago.
US stock indices finished trading with multidirectional dynamics
The European currency, finding itself behind the American one, seeks to increase its potential. However, these attempts have been so far unsuccessful. Nevertheless, experts believe that the situation.
News are provided by InstaForex
Demand for all types of metals dramatically exceeds supply
The world's six most significant industrial metals are demonstrating supply shortages for the first time in more than a decade as logistical shocks and high demand cause anxiety among buyers.
Spot prices for base metals (from aluminum to zinc) on the London Metal Exchange are rapidly exceeding futures, a condition known as backwardation that has occurred for the first time since 2007. Buyers are paying a premium for access to metal amid a slump in inventory exchanges, delays in the supply chain, production disruptions and rising demand for industrial goods from construction to consumer electronics.
As for copper and tin, the magnitude of the reversal development reached record highs in recent months, provoking panic among industrial consumers, who have faced escalating supply problems since the COVID-19 pandemic began.
Signs of tight physical supply in the metals market also act as a counterbalance to growing nervousness about the broader macroeconomic outlook for major industrialized countries and especially China, the largest consumer of commodities. Spreads have reduced considerably over the past month, regarding aluminum, despite prices having fallen from multi-year highs.
Oliver Nugent, a base metals analyst at Citigroup Inc. said that taking into account diverse use and supply dynamics of individual metals, the unusual synchronized tightness of the six major LME contracts was a sign of the logistical shocks and demand growth widely distribution since the early stages of the coronavirus pandemic.
Nugent noted that this aspect was obvious. He said that consumers mostly faced logistic problems. Nugent highlighted that this fact indicated very robust demand.
Evidently, complete tightness may not last long. Backwardation in copper and lead markets is disappearing, even as aluminum and nickel spreads reduce. Nugent stated that one of the consequences of supply chain disorder was that price spreads on other global exchanges could reduce further, even as the LME market softened.
As for copper, for example, there is a growing backwardation of contracts on the Shanghai Futures Exchange, despite LME spreads retreating from the record highs observed during last month's unprecedented supply contraction.
Copper futures fell 0.9% to $9,472 a tonne at 11:57 a.m. in London, with metal shipments to LME warehouses in the United States helping to partially dispel supply fears after the cuts.
Aluminum prices on the London Metal Exchange rose 0.8% to $2,594.50 a tonne on Wednesday, compared to a high above $3,200 last month.
News are provided by InstaForex
JAPAN OVERALL INFLATION RISES 0.1% ON YEAR IN OCTOBER
Overall consumer prices in Japan were up 0.1 percent on year in October, the Ministry of Internal Affairs and Communications said on Friday.
That was in line with expectations and down from 0.2 percent in September.
Core consumer prices, which exclude volatile food prices, also rose an annual 0.1 percent - unchanged and matching forecasts.
Individually, prices were up for food, housing, fuel, furniture, education and recreation; prices were down for clothing, medical care and communications.
On a seasonally adjusted monthly basis, overall inflation slipped 0.3 percent and core CPI dipped 0.1 percent.
News are provided by InstaForex
HONG KONG INFLATION DATA DUE ON MONDAY
Hong Kong will on Monday release October figures for consumer prices, highlighting a light day for Asia-Pacific economic activity.
In September, the annual inflation rate was 1.4 percent.
Taiwan will provide October numbers for export orders and unemployment. In September, export orders surged 25.7 percent on year, while the jobless rate was 3.92 percent.
China will release the prime rates for one-year and five-year loans; previously, they were 3.85 percent and 4.65 percent, respectively.
News are provided by InstaForex
EUROPEAN ECONOMICS PREVIEW: GERMAN IFO BUSINESS CONFIDENCE DATA DUE
Business sentiment survey results from Germany and France are due on Wednesday, headlining a light day for the European economic news.
At 2.45 am ET, France's statistical office Insee publishes business sentiment survey results. The business confidence index is expected to drop to 106 in November from 107 in October.
At 3.00 am ET, business sentiment data is due from the Czech Republic.
At 4.00 am ET, Germany's ifo Institute is scheduled to issue business sentiment data. The confidence index is seen at 96.6 in November versus 97.7 in October.
At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey results. The order book balance is expected to improve to 13 in November from 9 in the previous month.
News are provided by InstaForex
DUTCH PRODUCER CONFIDENCE IMPROVES IN NOVEMBER
Dutch producer confidence improves in November, data from the Central Bureau of Statistics showed on Monday.
The producer sentiment index rose to 12.7 in November from 12.3 in October. This was above the average score of 0.7 seen over the past twenty years.
The latest reading was the strongest since 1985.
Producers were particularly positive about the order position, while assessment of stocks of finished goods improved, the agency said.
There were more entrepreneurs who expected their production to increase in the coming three months, the agency said.
The producers in the electrical and machine industry were more positive in November.
News are provided by InstaForex
ESTONIA RETAIL SALES RISE IN OCTOBER
Estonia retail sales increased in October, data from Statistics Estonia showed on Tuesday.
Retail sales, excluding motor vehicles and motor cycles trade, rose 10.0 percent year-on-year in October.
"In October, turnover increased in grocery stores and in stores selling manufactured goods as well as in enterprises engaged in the retail sale of automotive fuel," Jaanika Tiigiste, leading analyst at Statistics Estonia, said.
The biggest increase was seen in stores selling manufacturing goods, by 16.0 percent and stores selling household goods and appliances, hardware and building materials rose 21.0 percent.
On a monthly basis, retail sales fell 2.0 percent in October.
On a seasonally adjusted basis, retail sales gained 1.0 percent monthly in October.
News are provided by InstaForex
CHINA MANUFACTURING SECTOR FALLS INTO CONTRACTION - CAIXIN
The manufacturing sector in China slipped into contraction territory in November, the latest survey from Caixin revealed on Wednesday with a manufacturing PMI score of 49.9.
That's down from 50.6 in October and it falls beneath the boom-or-bust line of 50 that separates expansion from contraction.
Chinese manufacturing output rose for the first time since July during November, though the rate of expansion was only fractional. Panel members indicated that firmer market conditions and a relative improvement in energy supply had supported higher production. That said, subdued customer demand, rising costs and limited power supply at some firms dampened overall growth.
Total new work fell marginally in November, following two months of expansion. Some firms linked relatively muted demand conditions to the pandemic and high output prices. New work from abroad also fell, albeit at the softest rate for four months, amid reports of reduced foreign demand due to the ongoing pandemic and challenges in shipping items to clients.
News are provided by InstaForex
AUSTRALIA HOME LOANS SINK 4.1% IN OCTOBER
The value of owner-occupied home loans in Australia was down a seasonally adjusted 4.1 percent on month in October, the Australian Bureau of Statistics said on Thursday - coming in at A$19.84 billion.
That missed forecasts for an increase of 1.0 percent following the 2.7 percent decline in September.
Investment lending was up 1.1 percent to A$9.73 billion after gaining 1.4 percent in the previous month.
Overall home loans were worth A$29.57 billion, down 2.5 percent on month.
On a yearly basis, owner occupied loans were up 15.1 percent, investment lending skyrocketed 89.6 percent and overall lending surged 32.2 percent.
News are provided by InstaForex
AUSTRALIA DATA ON TAP FOR MONDAY
Australia will on Monday see November figures for job ads and inflation, highlighting a light day for Asia-Pacific economic activity.
In October, the job advertisement survey from ANZ was up 6.2 percent on month, while the inflation gauge from TD Securities was up 0.2 percent on month.
Also, the markets in Thailand are closed on Monday in observance of the late King Bhumibol's birthday; they'll re-open on Tuesday.
News are provided by InstaForex
EUR/USD: Euro believed in itself and pushed the US dollar aside
The European currency was under strong pressure at the beginning of this week, fluctuating on the verge of a serious collapse. However, it found balance and tried to rise, pulling the EUR/USD pair to a new level.
In view of a relatively volatile US dollar, the euro steadily fell, occasionally rising to an acceptable level. Experts did not give it a chance, because the ECB's "dovish" strategy was acting against it. It can be recalled that the European regulator adheres to the position of non-interference in the current monetary policy, refusing to curtail incentives and raise rates. It seems that the ECB is following the path of the Fed, which until recently insisted on the "temporary" nature of inflation. Now, its European colleague is doing this.
The US currency retains its basic strength against the European one. It is supported by market expectations about the tightening of the Fed's monetary policy and the prospect of a rate hike in May next year. According to preliminary calculations, three rate increases are expected in 2022, starting from the last month of spring. This decision is facilitated by the revival of inflation expectations in the United States, which recovered after falling to the highs of November 2021.
Analysts explain the current strengthening of the indicator by the "hawkish" attitude of the Fed, whose representatives ignored weak data on the US labor market (nonfarm payrolls). The focus is on the upcoming report on US inflation, which may cover the negative impact of Nonfarm data. According to preliminary estimates, US consumer prices in November increased to 6.7% year-on-year.
At the moment, there is a situation in the market that is not too favorable for the US currency. Experts have recorded an increase in risk sentiment and a departure from the "safe haven" currencies, primarily from the USD. On Wednesday morning, the EUR/USD pair was trading at the level of 1.1294. The euro managed to make an upturn and catch up a little. A day earlier, the Euro currency was trading in the range of 1.1263-1.1266.
News are provided by InstaForex
Eurozone production rises - economic recovery pushes numbers up
According to the report, eurozone industrial production increased in October - the forecasts of economists came true. At the same time, the largest increase in comparison with the previous month was shown by the sector of production of consumer goods and durable goods, and the volume of production of short-term goods is even leading year-on-year.
Manufacturing in the eurozone is growing - the economic recovery pushes the numbers up
The statistical office Eurostat reported that industrial production in 19 countries using the euro increased by 1.1% in October compared to the previous month. This is 3.3% more compared to the same period last year. Median estimates of economists predicted growth of 1.2% per month and 3.2% per year.
Eurostat reported that compared with September, the volume of industrial production of goods produced with the attraction of investments increased by 3.0% after falls in August and September. On an annualized basis, the production of such goods increased by 5.2%, which shows the volume of flows that hit the financial and production segments.
The output of durable goods also rose sharply, increasing by 1.7% for the month and 2.3% for the year, while the production of consumer goods for short-term use was 6.9% higher than a year earlier, continuing the general trend of strong growth in the previous months.
Of course, the economic recovery will not last forever. Some economists even believe that a sharp rise in demand, combined with supply disruptions and further quarantine measures, may over-stimulate inflation. Nevertheless, against the background of restrictions in energy resources, the recovery of the eurozone economy looks optimistic.
This is likely to push the euro up, especially against the background of sad news from the United States about the growth of consumer prices. March Euro Stoxx 50 futures have grown well after the release of the data.
News are provided by InstaForex
US shares higher at close of trade; Dow Jones up 1.08%
At the close in New York, the Dow Jones gained 1.08%, the S&P 500 climbed 1.63% and the NASDAQ Composite rose 2.15%.
In the leaders of growth among the components of the Dow Jones at the end of today's trading were shares of Cisco Systems Inc, which rose in price by 2.16 points (3.74%), to close at 59.93. UnitedHealth Group Incorporated rose 3.11% or 14.92 points to end at 494.38. Apple Inc rose 2.85% or 4.97 points to end at 179.30.
The biggest losers were Nike Inc, which fell 0.91% or 1.50 points to end the session at 163.90. JPMorgan Chase & Co is up 0.75% or 1.19 points to end at 157.94, while Chevron Corp is down 0.57% or 0.66 points to 115. , 56.
Eli Lilly and Company, which gained 10.39% to 275.28, and Advanced Micro Devices Inc, gained 8.04% to close at 146.50, were the top performers among the S&P 500 index components at the end of today's trading. and NVIDIA Corporation, which rose 7.49% to end the session at 304.59.
The biggest decline was led by Nucor Corp, which fell 8.61% to close at 108.22. Medtronic PLC shed 6.04% to end the session at 104.94. Newmont Goldcorp Corp was down 3.45% to 54.23.
The leaders of growth among the components of the NASDAQ Composite index at the end of today's trading were the shares of Theseus Pharmaceuticals Inc, which rose 34.12% to 12.58, CMC Materials Inc, which gained 33.93%, to close at 195.50, and also Biofrontera Inc, which rose 26.36% to end at 6.95.
The biggest losers were ATAI Life Sciences BV, which fell 31.94% to close at 6.82. Pulmatrix Inc shed 31.58% to trade at 0.4851. China Xiangtai Food Co Ltd was down 28.17% to 1.8100.
On the New York Stock Exchange, the number of securities that gained in price (2,151) exceeded the number of securities that closed in the red (1109), while the quotations of 149 shares remained practically unchanged. On the NASDAQ stock exchange, 2,462 companies rose in price, 1,332 declined, and 218 remained at the level of the previous close.
The CBOE Volatility Index, which measures the value of S&P 500 options trading, was down 11.88% to trade at 19.29.
Gold Futures for February delivery was up 0.29% or 5.10 to $ 1,777.40 a troy ounce. In other commodities, WTI crude for January delivery rose 1.05%, or 0.74, to $ 71.47 a barrel. Futures contracts for Brent oil for February delivery fell 0.01% or 0.01 to trade at $ 74.31 a barrel.
Meanwhile, on the Forex market, the EUR / USD pair was up 0.09% to hit 1.1295, while the USD / JPY was up 0.00% to hit 114.03.
The US Dollar Index Futures was down 0.25% at 96.293.
News are provided by InstaForex
US shares higher at close of trade; Dow Jones up 1.60%
At the close in New York, the Dow Jones climbed 1.60%, the S&P 500 gained 1.78% and the NASDAQ Composite rose 2.40%.
In the leaders of growth among the components of the Dow Jones at the end of today's trading were shares of Nike Inc, which rose in price by 9.65 points (6.15%), to close at 166.63. Boeing Co rose 5.86% or 11.04 points to end at 199.52. American Express Company added 3.22% or 5.02 points to close at 160.91.
The biggest losers were Merck & Company Inc, which fell 1.14% or 0.87 points to end the session at 75.54. Verizon Communications Inc rose 0.58% or 0.31 points to end at 52.78, while Johnson & Johnson was down 0.32% or 0.54 points to 167. , 21.
The growth leaders among the S&P 500 index components at the end of today's trading were Citrix Systems Inc, which gained 13.63% to 95.05, Micron Technology Inc, which gained 10.54% to close at 90.68, and also Expedia Inc, which was up 9.14% to end at 177.27. The biggest losers were General Mills Inc, which fell 4.03% to close at 65.06. The Kroger Company shed 3.60% to end the session at 43.87. Pfizer Inc was down 3.39% to 58.95.
The leaders of growth among the components of the NASDAQ Composite index at the end of today's trading were shares of Reliance Global Group Inc, which rose in price by 78.69% to the level of 5.450, Biofrontera Inc, which gained 44.75%, to close at 11.03, as well as shares IsoPlexis Corp rose 40.82% to end at 6.90.
On the New York Stock Exchange, the number of shares that went up (2,671) exceeded the number of those that closed in the red (604), while the quotes of 88 shares remained practically unchanged. On the NASDAQ stock exchange, 2889 companies rose in price, 880 declined, and 215 remained at the level of the previous close.
Aldeyra The shares fell to a 52-week low, shedding 50.91%, 3.63 points to trade at 3.50. Biofrontera Inc rose to an all-time high, gaining 44.75%, 3.41 points, to trade at 11.03. DBV Technologies shares fell to historic lows, down 48.52%, 1.310 points, and ended trading at 1.390. CytomX Therapeutics Inc fell to a 52-week low, down 40.00%, 2.580 points to trade at 3.870.
The CBOE Volatility Index, which measures the value of S&P 500 options trading, was down 8.13% to trade at 21.01.
Gold Futures for February delivery was down 0.28% or 5.05 to $ 1,789.55 a troy ounce. Elsewhere, WTI crude for February delivery rose 3.92%, or 2.69, to $ 71.30 a barrel. Futures contract for Brent oil for February delivery was flat 0.00%, or 0.00, to trade at $ 74.03 a barrel.
Meanwhile, on the Forex market, the EUR / USD pair was up 0.02% to hit 1.1286, while the USD / JPY was up 0.01% to hit 114.10.
The US Dollar Index Futures was down 0.10% at 96.445.
News are provided by InstaForex
Forex Analysis & Reviews: US shares higher at close of trade; Dow Jones up 0.55%
At the close in New York, the Dow Jones gained 0.55%, the S&P 500 rose 0.62% and the NASDAQ Composite rose 0.85%.
In the leaders of growth among the components of the Dow Jones at the end of today's trading were shares of Caterpillar Inc, which increased in price by 4.05 points (2.00%), to close at around 206.20. Dow Inc added 1.68% or 0.91 points to end trade at 55.14. Honeywell International Inc rose 1.67% or 3.38 points to close at 205.22.
The biggest losers were Visa Inc Class A, which fell 0.61% or 1.34 points to end the session at 216.62. Merck & Company Inc is up 0.56% or 0.43 points to end at 75.73 and Walmart Inc is 0.22% or 0.31 points down to 139. , 49.
The leaders of growth among the components of the S&P 500 at the end of today's trading were Tesla Inc, which rose 5.76% to 1.067.00, ViacomCBS Inc, which gained 4.80% to close at 30.58, and shares Micron Technology Inc rose 4.52% to end the session at 94.42.
The biggest losers were Coterra Energy Inc, which fell 1.82% to close at 19.39. Hologic Inc shed 1.42% to end the session at 76.12. Pfizer Inc was down 1.41% to 58.71.
The growth leaders among the components of the NASDAQ Composite index at the end of today's trading were shares of 22nd Century Group Inc, which rose 38.64% to the level of 3.050, Oncology Institute Inc, which gained 38.46%, to close at 10.44, and Pasithea Therapeutics Corp rose 36.73% to trade at 2.01 at the close.
The biggest losers were InnovAge Holding Corp, which fell 35.64% to close at 5.31. Jupiter Wellness Inc shed 24.89% to trade at 0.954. American Virtual Cloud Technologies Inc was down 24.00% to 1,900.
On the New York Stock Exchange, the number of securities that went up (2,289) exceeded the number of securities that closed in the red (971), while the quotations of 126 shares remained virtually unchanged. On the NASDAQ stock exchange 2679 companies rose in price, 1163 declined, and 181 remained at the level of the previous close.
The CBOE Volatility Index, which is based on S&P 500 options trading, fell 3.60% to 17.96, hitting a fresh monthly low.
Gold Futures for February delivery was up 0.42% or 7.65 to $ 1.809.85 a troy ounce. Elsewhere, WTI crude for February delivery rose 1.32%, or 0.96, to $ 73.72 a barrel. Futures contracts for Brent oil for March delivery rose 0.01%, or 0.01, to trade at $ 76.61 a barrel.
Meanwhile, on the Forex market, EUR / USD was up 0.03% to hit 1.1331, while USD / JPY was up 0.04% to hit 114.41.
The US Dollar Index Futures was down 0.02% at 96.035.
News are provided by InstaForex
European stock markets in Europe ended trading with growth
Markets continue to be heavily influenced by the worldwide spread of the new COVID-19 strain omicron. Investors are closely monitoring the incidence rate in European countries and are worried that new surges could lead to a slowdown in economic activity.
The composite index of the largest enterprises in the region Stoxx Europe 600 climbed 0.6% to 485.49 points. Nevertheless, the value of the index is still below the high of 489.95 points reached on November 17.
France's CAC 40 Index added 0.8%, Germany's DAX Index added 0.5%, while Spain's IBEX and Italy's FTSE MIB gained 0.7% and 0.8%, respectively.
The leaders of growth among the components of Stoxx 600 on Monday came the shares of the Norwegian NEL ASA, working with renewable energy sources (+ 5.6%), the Swiss biopharmaceutical Idorsia Ltd. (+ 4.4%), as well as the Swedish online casino operator Evolution Gaming Group AB (+ 5%).
The stock quotes of the Swiss Roche Holding AG (+ 1.1%) also rose on the news that the US authorities approved the emergency use of the company's home tests for COVID-19, showing the result within 20 minutes.
CNH Industrial N.V., an international industrial group that announced the separation of its truck division Iveco Group, gained 2.7%. Iveco shares will begin trading on the Milan Stock Exchange on January 3.
In addition, shares of the main European technology companies completed trading in positive territory: ASML Holding (+ 1%), SAP (+ 0.7%), Nordic Semiconductor ASA (+ 3.5%) and Infineon Technologies (+ 2.4%) ...
The leaders of the fall in the Stoxx 600 were shares of the Swiss online pharmacy chain Zur Rose Group AG (-2.9%), the Danish energy Oersted A / S (-2.4%) and the operator of the food delivery service HelloFresh SE (-2.1 %).
News are provided by InstaForex
US stocks mixed at close of trade; Dow Jones up 0.26%
At the close in New York, the Dow Jones rose 0.26% to a 1-month high, the S&P 500 lost 0.10% and the NASDAQ Composite fell 0.56%.
The leaders of growth among the components of the Dow Jones at the end of today's trading were the shares of Walt Disney Company, which rose 2.40 points (1.57%), to close at 155.20. Boeing Co added 1.46 points or 1.46% to end trades at 206.13. Walmart Inc rose 1.44% or 2.02 points to end at 142.78.
The biggest losers were Salesforce.com Inc, which fell 1.10% or 2.85 points to end the session at 255.45. Nike Inc is up 0.69% or 1.16 points to end at 166.42, while Apple Inc is down 0.58% or 1.04 points to 179.29. ... The top gainers among the components of the S&P 500 at the end of today's trading were Campbell Soup Company, which rose 2.80% to 43.36, Ball Corporation, which gained 2.59% to close at 94.30, and American Airlines Group shares rose 2.04% to end the session at 18.54.
The biggest losers were DexCom Inc, which fell 7.09% to close at 529.50. Etsy Inc shed 3.46% to end the session at 221.73. Penn National Gaming Inc was down 2.89% to 49.34. The leaders of growth among the components of the NASDAQ Composite index at the end of today's trading were shares of Insignia Systems Inc, which rose 64.82% to 19.020, ShiftPixy Inc, which gained 43.09% to close at 1.120, and Pop Culture Group Co Ltd, which were up 35.88% to end the session at 2.31.
The biggest losers were Biofrontera Inc, which fell 29.50% to close at 8.10. Powerbridge Technologies Co Ltd shed 25.45% to end the session at 0.6933. Sensus Healthcare Inc was down 22.67% to 6.310.
On the New York Stock Exchange, the number of securities that fell (1,725) exceeded the number of those that closed in positive territory (1,531), while the quotations of 136 shares remained practically unchanged. On the NASDAQ stock exchange 2,494 companies fell in price, 1,330 increased, and 182 remained at the level of the previous close.
The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.79% to 17.54, hitting a fresh monthly low.
Gold Futures for February delivery was down 0.12% or 2.20 to $ 1.806.60 a troy ounce. Elsewhere in commodities, WTI crude for February delivery rose 0.60%, or 0.45, to $ 76.02 a barrel. Futures contracts for Brent oil for March delivery rose 0.08%, or 0.06, to trade at $ 78.84 a barrel.
Meanwhile, on the Forex market, EUR / USD was up 0.04% to hit 1.1313, while USD / JPY was up 0.00% to hit 114.82.
The US Dollar Index Futures was up 0.08% at 96.165.
News are provided by InstaForex
Who will take the lead between the US dollar and Chinese yuan?
The eternal rivals, the American and Chinese currencies, reasserted themselves at the beginning of the new year. Analysts said that they have rejoined the race to take control of the global financial market.
Experts believe that the yuan has quite high chances in relation to the US dollar. Many analysts view the Chinese currency as a successor of the American one, which can take the place of the global reserve means of payment. This gives confidence to the yuan and adds nervousness to the US dollar, although no one doubts the strength of the latter. It can be recalled that the US currency showed the best result in six years at the end of 2021, although it slightly lost its position at the close of the final trading day of the past year.
In the long term, experts admit that the US dollar's decline will be moderate, but not very loud. The value of the US dollar is declining against the background of the gradual recovery of the global economy after the curtailment of lockdowns caused by COVID-19. Other reasons for the potential decline will be increased political tensions between the United States and Europe, as well as the aggressive policy of the US towards China and Mexico. Experts also highlighted that the increased pressure from Washington on the above-mentioned trading partners with the use of anti-dumping measures and sanctions contributes to the devaluation of the USD.
As for the Euro currency, this year can also bring disappointment amid the Fed's rate hike. The past year seemed extremely unfortunate for the euro, so the markets are worried that this might happen again as the ECB continues to adhere to soft monetary policy. According to the President of the regulator Christine Lagarde, tightening monetary policy is now unreasonable, since it interferes with economic recovery. The European regulator does not plan to raise interest rates this 2022.
The euro is currently inferior to the US dollar again, and the EUR/USD pair is capable of returning to the range of 1.0850-1.0900 and staying there for a long time. However, experts expect the pair to recover in the coming month, although they are not hoping for steady growth. On Monday morning, the EUR USD pair was trading at the level of 1.1338, attempting to keep its recovered positions.
There may be no winners or losers in the global financial market this year. The US currency has impressive potential to maintain its strength, but the Chinese one is strong due to its wait-and-see strategy. At the same time, experts summarize that both currencies claiming leadership are capable of peacefully coexisting in the global financial space.
News are provided by InstaForex
Gold has good prospects in the long-term
Gold suddenly went out of the way after starting 2022 positively. However, experts consider the current fall short-term, expecting the yellow metal to rise in the long term. The current.
News are provided by InstaForex
Is the EUR/USD pair preparing for a new battle?
Some analysts explain the short-term lull in the EUR/USD pair by grouping before a new surge. First of all, this concerns the US dollar, in the shadow of which the euro resides.
The US currency started the current year with a rise and is trying to consolidate in an upward trend. It already succeeds in this without huge efforts, contrary to the euro, which is still lying low. However, the US dollar remained inactive, weakly reacting to what was happening. On Tuesday morning, the EUR/USD pair was trading at the level of 1.1341. The pair is now dominated by a bullish mood, which can change anytime. The possible targets for the bulls are 1.1364, 1.1385, and 1.1442.
Currently, the US dollar is moving in the middle of the current range against major world currencies, as markets are waiting for the Fed's decisions on the timing and pace of normalization of monetary policy. The regulator keeps the markets in suspense, continuing the "hawkish" strategy launched at the end of December 2021. Experts are worried about the Fed's excessive enthusiasm, which is ready to use every fund to curb the powerful inflation.
Amid the Federal Reserve's high activity, the smoother actions of the ECB seem unnecessarily slow. Analysts fear that the European regulator will lose time to normalize the economic situation in the region. This development of events will seriously weaken the euro, which somewhat looks neglected right now. Experts consider Europe's sharp rise in gas prices to be an additional negative factor for the euro. The strengthening of this trend contributes to the further decline of the euro and the strengthening of its rival in the EUR/USD pair. After all, the US currency is given a head start in anticipation of a rate hike in March 2022 and an accelerated transition to cut stimulus.
News are provided by InstaForex
EUR/USD: Euro's gradual movements are more effective than the US dollar's surges
The US currency, which has fallen again after some macro statistics, finds it difficult to maintain balance in the EUR/USD pair. On the other hand, the euro is having a hard time keeping up with the US dollar, so it prefers to move slowly but surely towards achieving its goal.
Currently, the market is evaluating the US inflation data released yesterday. According to the report, consumer prices in the country in December 2021 increased by 0.5%, accelerating to 7% year-on-year. The key index gained 0.6% over the month, rising to 5.5% year-on-year. As for the prices excluding energy carriers and food, more than 1.7% was added in three months.
Based on the data obtained, economists concluded that high inflation penetrates into the very core of the economy. In this situation, the Fed has no choice but to raise interest rates in March 2022. The regulator fears not only soaring inflation but also the "overheated" US labor market. The Fed officials consider high inflation a significant threat to a full economic recovery, so they are ready to raise interest rates since there is no longer a need for emergency monetary support.
As a response to the published macro data, the US dollar sharply declined. It is worth noting that the EUR/USD pair passed through the upper border of the range 1.1200-1.1350 again before the release of the report. To date, the upward movement of the pair continues. The EUR/USD pair rose by 0.5% immediately after the release of inflation data, leaving the level of 1.1400 behind. On Thursday morning, it was trading at the level of 1.1444, trying to break new borders.
News are provided by InstaForex
Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for January 17, 2022
The corrective consolidation is now complete and the underlying impulsive rally higher to our first target level of 160.54 is taking place. If bulls assert strength, GBP/JPY may go higher to our second target level of 163.39.
Keep the focus on the upside and a break above minor resistance at 157.69 for a continuation towards 160.54 and maybe even higher.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Analysis are provided by InstaForex
Musk says Tesla to accept dogecoin
On Friday, Musk announced on Twitter that Tesla Inc would accept Dogecoin as payment for its products, such as the Giga Texas belt buckle and mini-model electric cars.
The news sent the value of Dogecoin soaring more than 14%. The move comes a month after Musk said Tesla would test out the digital token as a payment option.
Musk had already hit Bitcoin prices hard in the spring of 2021 with the same announcement, promising that the company would accept Bitcoins to buy its cars. However, he later changed his mind. So, some analysts believe this is Elon Musk's way of covering up the slump after the postponement of Cydertrack.
Thus, production of Tesla's much-anticipated Cybertruck will start in the first quarter of 2023, pushing back plans to start production in late 2022.
However, Tesla products, including the recently launched Cyberwhistle and Cyberquad for Kids, have been in steady demand and typically sell out within hours of being put up for sale, even when paid for in regular currencies. But some analysts are predicting a new surge in popularity for Tesla merchandise once token payment is introduced.
Due to Musk's tweets about Dogecoin, the little-known digital currency, which began as a social media joke, has become one of the most recognizable and well-growing tokens. Its price has risen by around 4,000% in 2021.
Last year, Tesla said it had bought $1.5 billion worth of Bitcoins. Musk also mentioned that he had Bitcoins and Dogecoins. However, as early as May, it was revealed that Elon had gotten rid of many cryptocurrency assets. This information confuses investors.
This may be an attempt to put competitive pressure on rivals, as traditional carmakers such as Ford Motor Co, as well as start-ups including Rivian Automotive, are set to launch their electric cars this year.
However, it is not yet clear how this trade move will be received by lawmakers, who have recently become concerned about crypto regulation.
News are provided by InstaForex
US stocks closed lower, Dow Jones down 0.02%
At the close on the New York Stock Exchange, the Dow Jones fell 0.02% to a one-month low, the S&P 500 index fell 0.54%, and the NASDAQ Composite index fell 1.40%. Dow Inc was the top performer among the components of the
Dow Jones index today, up 2.96 points or 5.17% to close at 60.18. Chevron Corp rose 2.68 points or 2.02% to close at 135.37. Merck & Company Inc rose 1.44 points or 1.82% to close at 80.58.
The losers were shares of Intel Corporation, which lost 3.64 points or 7.04% to end the session at 48.05. Boeing Co was up 2.33% or 4.52 points to close at 189.75 while American Express Company was down 1.95% or 3.42 points to close at 171. 90.
Among the S&P 500 index components gainers today were ServiceNow Inc, which rose 9.14% to hit 528.69, Ball Corporation, which gained 8.57% to close at 93.99, and Seagate Technology PLC, which gained 7.65% to end the session at 103.68.
The biggest losers were Teradyne Inc, which shed 22.41% to close at 111.24. Shares of Tesla Inc lost 11.55% and ended the session at 829.10. Quotes of Advanced Micro Devices Inc decreased in price by 7.33% to 102.60.
On the New York Stock Exchange, the number of securities that fell in price (2349) exceeded the number of those that closed in positive territory (941), while quotes of 143 shares remained virtually unchanged. On the NASDAQ stock exchange, 3,122 companies fell in price, 838 rose, and 174 remained at the level of the previous close.
Chevron Corp shares rose to an all-time high, up 2.02%, 2.68 points, to close at 135.37. Shares in National Security Group Inc surged to a 52-week high, up 69.65% or 6.43 points to close at 15.65. Epizyme Inc shares fell to all-time lows, down 44.21% or 0.840 to close at 1.060. TG Therapeutics Inc shares fell to a 52-week low, falling 40.65%, 5.65 points, to close at 8.25. Cyngn Inc shares tumbled to all-time lows, dropping 36.47% or 0.93 points to close at 1.62.
The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.60% to 30.49.
Gold futures for February delivery lost 1.81%, or 33.15, to $1,796.55 a troy ounce. In other commodities, WTI crude for March delivery fell 0.08%, or 0.07, to $87.28 a barrel. Brent oil futures for April delivery rose 0.24%, or 0.21, to $88.90 a barrel.
Meanwhile, in the Forex market, EUR/USD fell 0.02% to hit 1.1141, while USD/JPY shed 0.01% to hit 115.32.
Futures on the USD index rose 0.87% to 97.235.
News are provided by InstaForex