Orangejuice Strong Bullish long Hot Summer in Europe
Updated
Alongside apple juice, orange juice is one of the most popular juices in Central Europe. It is produced by pressing oranges and mandarins and has a sweet-sour taste. Use of the designation “juice” is defined in the Fruit Juice Regulation. According to this, drinks may only be labelled as juice if they are produced entirely from the juice or flesh of the relevant fruits.
Strategy: Strong Bullish
Use corrections to position size
RSI is giving permanent trend continuatoion signals, and the trend is becoiming more stronger
Orange Juice has broken the iportant resistance of 2.29 and reaching its first target at 4.80-5$
Strategy: Strong Bullish
Use corrections to position size
RSI is giving permanent trend continuatoion signals, and the trend is becoiming more stronger
Orange Juice has broken the iportant resistance of 2.29 and reaching its first target at 4.80-5$
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Wall Street Ends Higher after CPIThe RICS UK Residential Market Survey house price balance, which measures the gap between the percentage of respondents seeing rises and falls in house prices, fell to -46 in June 2023 from -30 in May, posting the weakest reading in four months and coming in below forecasts of -34. This points to a slowdown in the British housing market as higher borrowing costs weighed on demand, with average two-year fixed mortgage rates in the country recently hitting a 15-year high. Expectations that the Bank of England will raise interest rates further this year to bring down inflation also dampened sentiment. Simon Rubinsohn, chief economics at RICS, said: “The latest increase in interest rates and the impact this has already had on mortgage rates is clearly visible in buyer enquiries, sales and prices which have all retreated over the past month.”
The BusinessNZ Performance of Manufacturing Index in New Zealand fell to 47.5 in June 2023 from 48.9 in the previous month. It marked the fourth straight month of contraction in the manufacturing sector and the steepest since last November as activities negatively influenced by declining demand, cost increases and production/staffing issues as the key negative influences on activity for the current month. Production (47.5 vs 45.7 in May) remained subdued and new orders (43.8 vs 50.8) fell back to contraction zone. Meanwhile, employment (47 vs 49.5) contracted further while deliveries (50.5 vs 46) rebounded.
Brazil’s Ibovespa stock index gave up on earlier gains to close 0.1% higher to finish around 117,700 on Wednesday, inline with global positive mood, after the US inflation data came in below expectations in June, even the core measures, suggesting a possible turning point for Federal Reserve policymakers in the coming months. On the domestic data front, services activity in Brazil grew by a more-than-expected 0.9% in May, following a decline of 1.5% in the previous month, placing the sector 11.5% above the pre-pandemic level of February 2020. On the corporate front, shares in the world's largest meatpacker JBS surged 9%, the most in the index, after proposing a dual listing of shares in Sao Paulo and New York in a securities filing today. It was followed by B3 (+2.4%), Gerdau (+2.1%) and PetroRio (+2%).
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Brazilian Stocks Fall to Finish Week on Sour NoteBrazil’s Ibovespa stock index fell 1.3% to close at 117,698 marks on Friday, after a report that showed retail sales in Brazil unexpectedly decreased in May. Brazil's retail sales fell 1% in May from a month earlier, the first decrease since December. Among single stocks, BRF tumbled 7.4% after pricing its stock offering at 9 reais per share, raising 5.4 billion reais. Also, GOL declined 6% due to forecasts indicating a loss in the second quarter and Azul slipped by 6.5%. Meanwhile, the heavyweight Petrobras lost 2.3% in line with the downward movement of oil prices. On the other hand, Méliuz surged 14.1% after closing at a record low the day before. For the week, the Ibovespa went down by 1%.
China New Home Prices Flatten in June
Average new home prices in China's 70 major cities were flat year-on-year in June 2023 after edging up 0.1 percent in the previous month. Among the biggest Chinese cities, prices increased in Beijing (3.5% vs 4.3% in May), Chongqing (0.6% vs 1.3%), Shanghai (4.8% vs 4.9%), and Tianjin (0.2% vs -0.3%). By contrast, cost fell in both Shenzhen (-2.4% vs -0.2%) and Guangzhou (-0.8% vs -0.4%). On a monthly basis, new home prices were unchanged, the weakest result so far this year, as as broad efforts from Beijing have not revived the ailing property sector with recovery weakening in the world's second-largest economy.
Shares in New Zealand fell 15 points or 0.13% to 11,998 in early trading at the start of the week, slightly retreating from a nearly 2-month peak hit in the prior session, amid losses from non-energy minerals, industrial services, and transport. A decline in US stock futures rattled sentiment after Wall Street closed mostly lower Friday, with the S&P 500 snapping a 4-day win streak, as investors digested bank earnings. Traders also took a cautious stance ahead of a flurry of economic data from China later in the day, including Q2 GDP readings, with concerns growing that the post-pandemic bounce is rapidly losing momentum.
US Natgas Prices Fall to 1-Month Low
Colombia Industrial Output Falls Less than Expected
Manufacturing production in Columbia sank by 3.4% year-on-year in May 2023, following a 6.4% decline in the previous month and compared with market estimates of a 4.9% contraction. The downturn added to recent evidence that the Colombian economy is succumbing to the aggressive interest rate hikes from its central bank. Output fell primarily for paper products (-15.1%), beverages (-11.2%), chemical products (-14.7%), and textiles (-22.1%).
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Trade is openNote
270% SINCE 2020Note
Bullish
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