Weekly Market Wrap With Gary Thomson: GBP/USD, USD/JPY, MSFT and META Shares
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
- Market Reacts Mildly To Fed Decision, Focus Shifts To Nonfarm Payrolls
-...
USD/CHF Falls to Lowest Level in Nearly Six Months
As today's USD/CHF chart shows, the exchange rate has fallen below 0.872 – the Swiss franc hasn't been this strong against the US dollar since early February this year.
Bearish sentiment is driven by:
→ Expectations of a Fed rate cut, weakening the US dollar;
→ Low inflation in Switzerland – today's CPI data...
S&P 500 Index Price Falls Amid Negative News
Yesterday, disappointing news about the US economy was released. According to ForexFactory:
→ The ISM Manufacturing PMI fell from 48.5 to 46.8 (analysts expected a rise to 48.8), indicating a decline in industrial production.
→ The number of unemployment benefit claims reached 249,000 – the highest in 12 months.
As a...
Market Analysis: Oil Price Takes Hit
Crude oil is showing bearish signs and might decline below $75.00.
Important Takeaways for Oil Price Analysis Today
- Crude oil prices failed to clear the $78.20 region and started a fresh decline.
- There was a break below a connecting bullish trend line with support at $77.50 on the hourly chart of XTI/USD at...
Market Analysis: Gold Price Regains Strength
Gold price started another increase and surpassed the $2,440 resistance.
Important Takeaways for Gold Price Analysis Today
- Gold price started a steady increase from the $2,420 zone against the US Dollar.
- A key bullish trend line is forming with support near $2,440 on the hourly chart of gold at FXOpen.
...
META Shares Rise Above $500
Yesterday, after the close of the main trading session, social media giant META reported its second-quarter results, significantly exceeding analysts' expectations:
→ Earnings per share: actual = $5.16, forecast = $4.72;
→ Revenue: actual = $39.07 billion, forecast = $38.26 billion;
→ Daily active users increased by 7% year-on-year...
USD/JPY Falls Below 150 Yen per Dollar
The yen was last this strong in mid-March this year. News from central banks contributed to the decline in USD/JPY.
Yesterday, the Bank of Japan raised interest rates to levels not seen in the past 15 years. Conversely, the Fed kept rates unchanged as expected but "opened the door" for a possible cut in September,...
How to Use Artificial Intelligence for Stock Trading
As you may know, AI can mimic human intelligence and make decisions based on data analysis. Artificial intelligence can be used in stock trading to analyse historical market and stock data, generate investment ideas, form portfolios, and automatically buy and sell stocks. AI is able to quickly process huge...
MSFT Share Price Plummets After Earnings Report, But It’s Not All Bad
Yesterday, after the main trading session on the Nasdaq, Microsoft released its second-quarter report:
→ Earnings per share: actual = $2.95, forecast = $2.93;
→ Gross revenue: actual = $64.72 billion, forecast = $64.38 billion.
Despite key figures exceeding analyst expectations, MSFT's share...
Market Analysis: NZD/USD Attempts Recovery
NZD/USD also tumbled and is now attempting a recovery from 0.5850.
Important Takeaways for NZD USD Analysis Today
- NZD/USD is attempting a recovery wave from the 0.5850 zone.
- There was a break above a key bearish trend line with resistance at 0.5880 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical...
Market Analysis: AUD/USD Remains At Risk
AUD/USD declined heavily from well above 0.6650.
Important Takeaways for AUD USD Analysis Today
- The Aussie Dollar started a major decline below the 0.6610 level against the US Dollar.
- There is a connecting bearish trend line forming with resistance near 0.6530 on the hourly chart of AUD/USD at FXOpen.
AUD/USD...
Nasdaq Composite Index Reaches Key Support
Important news days are ahead, with high volatility likely in the US stock markets.
The Federal Open Market Committee (FOMC) will announce its monetary policy decision today at 21:00 GMT+3. Wall Street expects the FOMC to keep the rate unchanged at 5.25%. Traders will then analyse Fed Chair Jerome Powell's speech at...
Problems of Technical Analysis
Trading is a complex endeavour that involves many factors. The ability to analyse markets is something that allows traders to overcome trading difficulties. Technical analysis is widely used by traders to make informed decisions about the price movements of various assets, including stocks, currency pairs, and cryptocurrencies*....
Analysis of AMD Share Price Ahead of Today's Report
The earnings season is in full swing: over 200 companies in the S&P 500 index (SPX 500 mini on FXOpen) have reported their current cycle results, with average earnings up 6.5% year-on-year and revenue growth of 4.1%, according to a client note from Oppenheimer Asset Management published on Monday.
This week,...
McDonald's Share Price Rises Despite Disappointing Report
On Monday, before the start of regular trading, McDonald's reported its second-quarter results:
→ Earnings per share: actual = $2.97, expected = $3.07;
→ Gross revenue: actual = $6.49 billion, expected = $6.62 billion;
→ Net profit for the quarter was $2.02 billion, 12% less than the previous year.
The...
Why Interest Rates Matter for Forex Traders
Delve into the intricate world of forex, where interest rates stand as towering beacons guiding currency movements and trader strategies. From the fundamentals of central bank operations to the subtle nuances of the carry trade, uncover how they shape the global financial tapestry, dictating economic outcomes and...
The Price of Natural Gas Finds Support. But for How Long?
On 21 June, we wrote that the trend in the market was weakening, noting that:
→ Forecasts of a hotter summer, published during April-May, led to a sustained bullish trend in the natural gas market.
→ According to the technical analysis of the 4-hour XNG/USD chart and the signs of weakness that have...
Inflation's Impact on Stock Returns
Inflation's pervasive influence on the financial landscape cannot be understated. It affects everything from everyday spending to large-scale investing. This FXOpen article dives into the intricate relationship between inflation and stock returns, unravelling the multifaceted dynamics at play. Join us as we dissect the...
