Investors Forex Market BUZZ 8.4.16

Investors Forex Market BUZZ 8.4.16

Investors Forex Market BUZZ  8.4.16

Investors Forex Market BUZZ 8.4.16

This morning, the greenback is trading higher against most of the major currencies, ahead of US initial jobless claims, durable goods and factory orders data, due to release in a few hours.

The EUR is trading lower against the USD. According to the ECB’s latest economic bulletin report, uncertainty about global economic outlook has increased after Britain decided to leave the European Union (EU) while economic data for the second quarter pointed towards subdued global activity. It also disclosed that measures taken to boost underlying inflation have not yet shown any clear sign of an upward trend.

The GBP is trading lower against the USD with investors keenly waiting the Bank of England’s (BoE) interest rate decision. Markets broadly expects the central bank to cut interest rates for the first time in more than seven years to a record low in an effort to limit the impact of UK’s vote to leave the EU. The central bank is also expected to revive its own quantitative easing stimulus package to avoid the threat of a recession following the Brexit vote.

Yesterday, the greenback traded higher in the New York session, against the key currencies, after ADP employment report revealed that private sector in the US added jobs in July, suggesting that the nation’s job growth remained strong. Further, the nation’s final Markit services PMI remained steady in July. On the other hand, the ISM non-manufacturing PMI eased more than expected in the same month.

 

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1125 against the USD, 0.18% lower from the New York close. Macroeconomic data indicated that, Germany’s Markit construction PMI advanced in July. This morning, the pair traded at a high of 1.1156 and a low of 1.1123. The Euro traded 0.42% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1145. The pair is expected to its find support at 1.1097 and its first resistance at 1.1179.

 

GBPUSD

At 09:40 GMT, the pair is trading at 1.3286, with the Pound trading 0.23% lower against US Dollar from the New York close. Moving ahead, market participants would keep a close watch on BoE’s interest rate decision, due in some time. The pair witnessed a high of 1.3344 and a low of 1.3277 during the session. Yesterday, the Pound traded 0.09% lower against the US Dollar in the New York session and ended at 1.3317. Immediate downside, the first support level is seen at 1.3252, while on the upside, the first resistance level is situated at 1.3346.

 

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 101.34 against the Yen, 0.09% higher from the New York close. During the session, the pair traded at a high of 101.66 and a low of 100.84. Yesterday, the US Dollar traded 0.21% higher against the Yen in the New York session and ended at 101.25. The pair is expected to its find support at 100.90 and its first resistance at 101.72.

 

USDCHF

The US Dollar is trading at 0.9742 against the Swiss Franc at 09:40 GMT this morning, 0.12% higher from the New York close. In economic news, Switzerland’s SECO consumer confidence index remained steady in 3Q 2016. The pair traded at a high of 0.9749 and a low of 0.9717 this morning. Yesterday, the USD traded 0.52% higher against the CHF in the New York session and ended at 0.9730. The pair is expected to its find support at 0.9694 and its first resistance at 0.9770.

 

USDCAD

The pair is trading at 1.3076 at 09:40 GMT this morning, with the USD trading marginally higher against CAD from the New York close. Amid no economic releases in Canada today, market sentiments would be governed by global events. The pair traded at a high of 1.3088 and a low of 1.3034 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing 0.11% lower at 1.3075. The pair is expected to its find support at 1.3028 and its first resistance at 1.3130.

 

AUDUSD

The pair is trading at 0.7612 at 09:40 GMT this morning, with the Australian Dollar trading 0.38% higher against US Dollar from the New York close. Early in the morning, data revealed that Australia’s seasonally adjusted retail sales advanced for a fifth consecutive month, on a monthly basis in June. This morning, the pair traded at a high of 0.7625 and a low of 0.7580. The Australian Dollar traded marginally lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7583. The pair is expected to its find support at 0.7577 and its first resistance at 0.7636.

 

Gold

Gold is trading at $1357.20 per ounce at 09:40 GMT this morning, 0.51% lower from the New York close. This morning, the precious metal traded at a high of $1365.60 per ounce and a low of $1355.10 per ounce. Yesterday, gold traded 0.42% lower in the New York session and closed at $1364.20 per ounce, amid a stronger US Dollar. Immediate downside, the first support level is seen at $1350.40 per ounce, while on the upside, the first resistance level is at $1368.70 per ounce.

 

Silver

The precious metal is trading at $20.22 per ounce at 09:40 GMT this morning, 1% lower from the New York close. During the session, silver traded at a high of $20.48 per ounce and a low of $20.08 per ounce. In the New York session yesterday, silver fell 1.02% and closed at $20.43 per ounce. Immediate downside, the first support level is seen at $19.96 per ounce, while on the upside, the first resistance level is at $20.61 per ounce.

 

Oil

The commodity is trading at $40.63 per barrel at 09:40 GMT this morning, 1.12% lower from the New York close. Crude oil witnessed a high of $41.41 per barrel and a low of $40.62 per barrel during the session. In the New York session yesterday, crude oil rose 2.91% to close at $41.09 per barrel, after reports showed that US gasoline stocks declined more than expected by 3.3 million barrels. Meanwhile, the EIA disclosed that US crude stockpiles climbed by 1.4 million barrels to 522.7 million barrels during the last week. Immediate downside, the first support level is seen at $39.41 per barrel, while on the upside, the first resistance level is at $41.63 per barrel.

 

Economic Snapshot

 

Germany’s Markit construction PMI advanced in July

In July, the Markit construction PMI in Germany climbed to 51.60. In the previous month, the construction PMI had recorded a reading of 50.4.

 

Swiss SECO consumer climate steadied in 3Q 2016

The SECO consumer climate in Switzerland remained steady at -15.00 in 3Q 2016, compared to market expectations of a fall to -16.00.

 

Australian retail sales rose less than expected in June

In Australia, the seasonally adjusted retail sales advanced 0.10% on a monthly basis in June, lower than market expectations for a rise of 0.30%. Retail sales had recorded a rise of 0.20% in the previous month.

Investors Forex Market BUZ 8.3.16

Investors Forex Market BUZ 8.3.16

Investors Forex Market BUZ  8.3.16

Investors Forex Market BUZ 8.3.16

Forex Market BUZ  8.3.16

This morning, the greenback is trading higher against most of the major currencies, ahead of US ADP employment change and ISM non-manufacturing PMI, slated to release in a few hours.

The EUR is trading lower against the USD. Macroeconomic data indicated that Eurozone’s retail sales remained flat on a monthly basis in June, while final Markit services PMI unexpectedly climbed in July, signaling growth for 37 consecutive months.

The GBP is trading lower against the USD, after UK’s service sector contracted for the first time in more than three years in July, raising concerns over the health of the nation’s economy.

The Yen is trading lower against the USD, after minutes of the Bank of Japan’s (BoJ) June policy meeting disclosed that policymakers clashed over the need to modify stimulus measures. Further, it showed that at least two board members questioned its actions, as one board member suggested that the bank should reduce the program of buying Japanese government bonds while another member called to buy assets in a “flexible manner”.

Yesterday, the greenback traded lower in the New York session, against the key currencies. Macroeconomic data released in the US indicated that personal spending increased for third consecutive month in June, suggesting consumer spending would continue to be the primary driver of economic growth this year.

 

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1191 against the USD, 0.26% lower from the New York close. In economic news, data indicated that Eurozone’s final Markit services PMI surprisingly advanced in July. This morning, the pair traded at a high of 1.1225 and a low of 1.1187. The Euro traded 0.17% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1220. The pair is expected to its find support at 1.1172 and its first resistance at 1.1221.

 

GBPUSD

At 09:40 GMT, the pair is trading at 1.3329, with the Pound trading 0.16% lower against US Dollar from the New York close. On the data front, UK’s final Markit services PMI remained steady in July, at par with market expectations. The pair witnessed a high of 1.3357 and a low of 1.3285 during the session. Yesterday, the Pound traded 0.53% higher against the US Dollar in the New York session and ended at 1.3350. Immediate downside, the first support level is seen at 1.3245, while on the upside, the first resistance level is situated at 1.3389.

 

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 101.23 against the Yen, 0.32% higher from the New York close. The Japanese Yen lost ground, after the BoJ’s latest monetary policy meeting minutes highlighted the need to assess the impact of negative interest rate. During the session, the pair traded at a high of 101.33 and a low of 100.72. Yesterday, the US Dollar traded 0.43% lower against the Yen in the New York session and ended at 100.91. The pair is expected to its find support at 100.64 and its first resistance at 101.82.

 

USDCHF

The US Dollar is trading at 0.9682 against the Swiss Franc at 09:40 GMT this morning, 0.41% higher from the New York close. With no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news. The pair traded at a high of 0.9691 and a low of 0.9638 this morning. Yesterday, the USD traded 0.1% lower against the CHF in the New York session and ended at 0.9642. The pair is expected to its find support at 0.9643 and its first resistance at 0.9706.

 

USDCAD

The pair is trading at 1.3127 at 09:40 GMT this morning, with the USD trading 0.18% higher against CAD from the New York close. The pair traded at a high of 1.3146 and a low of 1.3097 this morning. The US Dollar advanced against the Canadian Dollar in the New York session yesterday, closing 0.45% higher at 1.3104. On the data front, Canada’s RBC manufacturing PMI advanced slightly in July. The pair is expected to its find support at 1.3037 and its first resistance at 1.3182.

 

AUDUSD

The pair is trading at 0.7581 at 09:40 GMT this morning, with the Australian Dollar trading 0.24% lower against US Dollar from the New York close. Macroeconomic data released overnight indicated that Australia’s AiG performance of services index climbed in July. This morning, the pair traded at a high of 0.7613 and a low of 0.7573. The Australian Dollar traded 0.22% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7599. The pair is expected to its find support at 0.7553 and its first resistance at 0.7623.

 

Gold

Gold is trading at $1370.80 per ounce at 09:40 GMT this morning, marginally higher from the New York close. This morning, the precious metal traded at a high of $1373.10 per ounce and a low of $1368.60 per ounce. Yesterday, gold traded 0.06% lower in the New York session and closed at $1370.30 per ounce, reversing its previous session gains. Immediate downside, the first support level is seen at $1364.60 per ounce, while on the upside, the first resistance level is at $1375.60 per ounce.

 

Silver

The precious metal is trading at $20.67 per ounce at 09:40 GMT this morning, marginally lower from the New York close. During the session, silver traded at a high of $20.77 per ounce and a low of $20.64 per ounce. In the New York session yesterday, silver fell 0.6% and closed at $20.67 per ounce. Immediate downside, the first support level is seen at $20.59 per ounce, while on the upside, the first resistance level is at $20.79 per ounce.

 

Oil

The commodity is trading at $39.82 per barrel at 09:40 GMT this morning, marginally higher from the New York close. Crude oil witnessed a high of $39.89 per barrel and a low of $39.38 per barrel during the session. In the New York session yesterday, crude oil fell 1.97% to close at $39.80 per barrel, extending previous session losses. Separately, the American Petroleum Institute disclosed that US crude oil inventories declined by 1.3 million barrels to 518.7 million barrels during the week ended 29 July. Immediate downside, the first support level is seen at $39.08 per barrel, while on the upside, the first resistance level is at $40.73 per barrel.

 

Economic Snapshot

 

UK services PMI dropped in July

In July, the final services PMI in the UK eased to 47.40, compared to a level of 52.30 in the previous month. The preliminary figures had also recorded a fall to 47.40. Market anticipation was for the services PMI to fall to a level of.

 

UK BRC shop price index slid in July

In July, on a YoY basis, the BRC shop price index dropped 1.60% in the UK. In the prior month, the BRC shop price index had recorded a drop of 2.00%.

 

Eurozone services PMI surprisingly advanced in July

The final services PMI rose unexpectedly to a level of 52.90 in July, in the Eurozone, higher than market expectations of a fall to a level of 52.70. In the previous month, services PMI had recorded a level of 52.80. The preliminary figures had indicated a fall to 52.70.

 

Eurozone retail sales remained unchanged in June

On a monthly basis, the seasonally adjusted retail sales remained steady in the Eurozone, in June, at par with market expectations. Retail sales had recorded a rise of 0.40% in the previous month.

  

Japanese Markit composite PMI advanced in July

In July, Markit composite PMI in Japan registered a rise to 50.10. Markit composite PMI had registered a reading of 49.00 in the prior month.

 

Chinese Caixin/Markit services PMI index declined in July

In China, the Caixin/Markit services PMI index dropped to 51.70 in July. In the previous month, the Caixin/Markit services PMI index had recorded a reading of 52.70.

 

Investors Global Markets Buzz 8.2.16

Investors Global Markets Buzz 8.2.16

Investors  Global Markets Buzz 8.2.16

Investors Global Markets Buzz 8.2.16

Looking to jolt the nation

back to life, Japanese Prime Minister Shinzo Abe’s cabinet has approved a ¥28T ($274B) stimulus package amid a growing consensus that monetary policy alone won’t be able to revive the economy. According to Dow Jones, the stimulus package ranks among Japan’s biggest since the global financial crisis, and will: Lift GDP by 1.4%, include childcare benefits, provide $150 handouts to 22M low income people, loan ¥10.7T for infrastructure and provide ¥7.5T for direct fiscal spending.

Typhoon Nida has swept through Hong Kong,

shutting down its financial hub and disrupting hundreds of flights, but no major damage was reported as the storm moved onto the mainland. Winds of up to 90 miles per hour were recorded in some parts of the city, according to the Hong Kong Observatory, which also warned of the potential risks of flooding.

The Reserve Bank of Australia

cut its benchmark interest rate overnight by 25 basis points to a fresh record low of 1.50% amid signs of slowing economic growth and persistently low inflation. “This is expected to remain the case for some time,” the RBA said in a statement. The Aussie slumped after the rate cut, while Australian equities remained in negative territory.

U.K. Prime Minister Theresa May

will outline her bid to reshape the British economy for a post-Brexit world today, reviving the once unfashionable concept of industrial policy 30 years after Margaret Thatcher killed it off. May’s office said the strategy would focus on addressing long-term industrial productivity growth, including encouraging innovation and focusing on sectors and technologies that will give Britain a competitive advantage.

U.K. construction shrank

the most since the financial crisis in July, with companies citing uncertainty related to Brexit for the continued weakness. Markit’s Purchasing Managers Index for construction activity slipped to 45.9 from 46 in June, marking the lowest level since 2009 (when the economy was last in a recession). All three sectors – housing, commercial and civil engineering – recorded sub-50 readings.

Oil prices are edging up

after U.S. crude broke below $40 per barrel in the prior session, but traders said fuel markets continue to be dogged by a production glut. “We got here on the back of excessive storage in crude oil and gasoline,” said Bob Yawger, director of the futures division at Mizuho Securities. WTI settled 22% below its June peak Monday, meeting the common definition of a bear market.

 

Investors Forex Market Buzz Today 8.2.16

Investors Forex Market Buzz Today 8.2.16

Investors Forex Market  Buzz Today 8.2.16

Investors Forex Market Buzz Today 8.2.16
Forex Market  Buzz Today 8.2.16 This morning, the greenback is trading lower against most of the major currencies, ahead of the US personal spending and income data for June, slated to release in a few hours.The GBP is trading higher against the USD. Macroeconomic data released in UK revealed that activity in construction industry contracted for the second straight month, after it registered its sharpest downturn in seven years in July, following uncertainty in the wake of Brexit vote.The AUD gained ground against the USD. Earlier today, the Reserve Bank of Australia (RBA), slashed its key interest rates to a record low of 1.5% to combat historically weak inflation and to revive growth in nation’s labor market. In a post meeting statement, the RBA Governor, Glenn Stevens, stated that recent economic data indicated that the nation’s economic growth was continuing at a moderate pace, with inflation returning to target gradually.Yesterday, the greenback traded higher in the New York session, against the key currencies. Macroeconomic data released in the US indicated that the ISM manufacturing activity expanded at a slower than forecasted pace in July. On the other hand, the nation’s construction spending declined for a third straight month on a monthly basis in June, marking its lowest level since June 2015. Moreover, the final Markit manufacturing PMI climbed in July.


EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1194 against the USD, 0.3% higher from the New York close. In economic news, Eurozone’s producer price index advanced more-than-forecasted on a monthly basis in June. This morning, the pair traded at a high of 1.1207 and a low of 1.1153. The Euro traded marginally lower against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1160.  The pair is expected to its find support at 1.1162 and its first resistance at 1.1216.


GBPUSD

At 09:40 GMT, the pair is trading at 1.3242, with the Pound trading 0.46% higher against US Dollar from the New York close. Macroeconomic data indicated that, UK’s Markit construction PMI fell less-than-expected in July. The pair witnessed a high of 1.3255 and a low of 1.3169 during the session. Yesterday, the Pound traded marginally lower against the US Dollar in the New York session and ended at 1.3181.  Immediate downside, the first support level is seen at 1.3183, while on the upside, the first resistance level is situated at 1.3278.


USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 101.72 against the Yen, 0.63% lower from the New York close. Earlier in the session, data indicated that Japan’s consumer confidence index unexpectedly dropped in July.  During the session, the pair traded at a high of 102.81 and a low of 101.45. Yesterday, the US Dollar traded marginally lower against the Yen in the New York session and ended at 102.36.  The pair is expected to its find support at 101.18 and its first resistance at 102.54.


USDCHF

The US Dollar is trading at 0.9660 against the Swiss Franc at 09:40 GMT this morning, 0.16% lower from the New York close. On the data front, Switzerland’s real retail sales declined more-than-anticipated on an annual basis in June.  The pair traded at a high of 0.9688 and a low of 0.9650 this morning. Yesterday, the USD traded marginally higher against the CHF in the New York session and ended at 0.9675.  The pair is expected to its find support at 0.9640 and its first resistance at 0.9689.


USDCAD

The pair is trading at 1.3079 at 09:40 GMT this morning, with the USD trading 0.36% lower against CAD from the New York close. Going ahead, investors would keep a close eye on Canada’s RBC manufacturing PMI data for July, due to release in a few hours. The pair traded at a high of 1.3141 and a low of 1.3073 this morning. The US Dollar advanced against the Canadian Dollar in the New York session yesterday, closing 0.35% higher at 1.3126.  The pair is expected to its find support at 1.3045 and its first resistance at 1.3127.


AUDUSD

The pair is trading at 0.7571 at 09:40 GMT this morning, with the Australian Dollar trading 0.53% higher against US Dollar from the New York close, after the Reserve Bank of Australia (RBA) cut its key interest rate by 25 basis points to a record low of 1.5%. This morning, the pair traded at a high of 0.7578 and a low of 0.7495. The Australian Dollar traded 0.42% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7531.  The pair is expected to its find support at 0.7515 and its first resistance at 0.7606.


Gold

Gold is trading at $1365.30 per ounce at 09:40 GMT this morning, 0.35% higher from the New York close. This morning, the precious metal traded at a high of $1367.80 per ounce and a low of $1353.70 per ounce. Yesterday, gold traded 0.42% higher in the New York session and closed at $1360.60 per ounce, amid decline in global equities.  Immediate downside, the first support level is seen at $1356.40 per ounce, while on the upside, the first resistance level is at $1371.00 per ounce.


Silver

The precious metal is trading at $20.67 per ounce at 09:40 GMT this morning, 0.73% higher from the New York close. During the session, silver traded at a high of $20.72 per ounce and a low of $20.39 per ounce. In the New York session yesterday, silver fell marginally and closed at $20.52 per ounce.  Immediate downside, the first support level is seen at $20.46 per ounce, while on the upside, the first resistance level is at $20.79 per ounce.


Oil

The commodity is trading at $40.41 per barrel at 09:40 GMT this morning, 0.8% higher from the New York close. Crude oil witnessed a high of $40.46 per barrel and a low of $39.85 per barrel during the session. In the New York session yesterday, crude oil fell 2.22% to close at $40.09 per barrel, amid mounting fears about ongoing global supply glut. Immediate downside, the first support level is seen at $39.71 per barrel, while on the upside, the first resistance level is at $41.21 per barrel.
Economic Snapshot


UK construction PMI dropped in July

The construction PMI fell to a level of 45.90 in the UK, in July, compared to a level of 46.00 in the prior month. Market expectation was for the construction PMI to drop to 44.00.


Eurozone producer price index (
PPI) rose more than expected in June

On a monthly basis in the Eurozone, the producer price index (PPI) rose 0.70% in June, higher than market expectations for a rise of 0.40%. In the previous month, the producer price index (PPI) had climbed 0.60%.


Swiss real retail sales dropped more than expected in June

Real retail sales in Switzerland recorded a drop of 3.90% on an annual basis in June, compared to a revised drop of 1.70% in the prior month. Markets were expecting real retail sales to fall 2.00%.


Japanese consumer confidence index eased unexpectedly in July

The consumer confidence index fell unexpectedly to 41.30 in July, in Japan, lower than market expectations of an advance to 42.00. The consumer confidence index had recorded a reading of 41.80 in the prior month.


Australian trade deficit rose in June

The seasonally adjusted trade deficit in Australia expanded to A$3195.00 million in June, compared to a revised trade deficit of A$2418.00 million in the previous month. Market expectation was for the nation to register a trade deficit of A$2000.00 million.


Australian building approvals unexpectedly eased in June

The seasonally adjusted building approvals unexpectedly eased 2.90% on a monthly basis in June, in Australia, less than market expectations for an advance of 0.80%. In the prior month, building approvals had dropped by a revised 5.40%.


Reserve Bank of Australia slashed its key interest rate

The Reserve Bank of Australia cut its benchmark interest rate by 25 basis points to 1.50%, in line with market expectations 1.50%.

Investors Stock Market Buzz 8.1.16

Investors Stock Market Buzz 8.1.16

Investors Stock Market Buzz 8.1.16

Investors Stock Market Buzz 8.1.16

Stock Market Buzz 8.1.16

Facebook Inc: Soaring Ad Revenue Could Send FB Stock Soaring

Stock Market Buzz 8.1.16 Earnings Provide Tailwind for FB Stock
Although Facebook Inc (NASDAQ:FB) is one of the most successful tech investments ever, there’s still plenty of upside left in FB stock. Anyone who doubts that should take a look at the company’s stellar earnings report from last week.

Facebook delivered a jaw-dropping amount of growth. Second-quarter revenue increased a whopping 59% over the same three months last year, moving from $3.83 billion to $6.24 billion. (Source: “.

 

Apple Inc.: Why Apple Stock Bulls Are Wrong

Market Has Misread Apple Stock
Investors went stir crazy after seeing the fiscal third-quarter results reported by Apple Inc. (NASDAQ:AAPL) last week. While the stock market may have been giddy, I was not jumping up and down, buying up shares of AAPL. There were some positives in the results, sure; however, overall, there were more negatives. I’m still waiting for the actual game changer to happen.

For those who saw their AAPL stock jump from the $96.00 level on July 26 to $104.55 last Friday, now may be the time to consider lightening your load, as Apple isn’t.

 

Amazon.com, Inc.: 3 Reasons to Be Bullish on AMZN Stock

Why AMZN Stock Was Muted After Earnings
Amazon.com, Inc. (NASDAQ:AMZN) continued its recent trend of sweeping analysts off their feet. The company crushed earnings expectations in its last earnings review, reported on Thursday. AMZN stock is now primed for huge gains in Q3 and Q4.

If you’re looking at the market and wondering why AMZN stock didn’t surge immediately, don’t worry; it was weighed down by weak gross domestic numbers. The U.S. economy didn’t grow as quickly as expected last quarter and that acted as a.

Alphabet Inc: Why Google Stock Is Still the Best Bet in the Internet Industry

This Is a Big Deal for GOOG Stock
Mega-cap companies don’t usually offer startup-like growth. That’s why Alphabet Inc(NASDAQ:GOOG) stock is so special. After a solid earnings report, Google stock gained more than four percent. Google’s Class A shares have surged past the $800.00 mark.

Expectations were already high before Google stock earnings, yet the company managed to beat both top- and bottom-line estimates. The best part is that despite being the incumbent in the Internet industry, Google’s growth rate was no less.

 

BlackBerry Ltd: This Chart Shows More Downside for BBRY Stock

BBRY stock: Any Hope for the Bulls?
I find it hard to describe the performance of BlackBerry Ltd (NASDAQ:BBRY) stock in just one word.

BBRY stock peaked in June 2013, tagging a high price of $148.13 per share. However, currently, BlackBerry shares are trading at $7.66. This represents a loss of 94.8% for BBRY stock. A complete and utter disaster, share price has been completely decimated.

At one point, BlackBerry actually dominated the market. The company’s handset was a symbol of social status. Everyone who was anyone had.

 

If This Happens, IBM Stock Could Surge

IBM stock: Back on Track?
International Business Machines Corp. (NYSE:IBM) stock is off to a great start for 2016, up 19.6% year-to-date. This is a nice change compared to the dismal returns experienced over the last three years. Each respective year produced losses. Could this be the beginning of a new trend?

I have reason to believe that IBM stock may have put in a significant bottom in 2016, meaning it is ready to resume its bull market and challenge its all-time high in share price. My reasoning has nothing to do with Berkshire’s purchase of IBM.

 

Apple Car: Everything You Need to Know About the Apple Inc. Car

Why We Think Apple Is Building an Apple Car
The “Apple Car” rumor mill is running at full speed again. According to a report inThe Wall Street Journal, Apple Inc. (NASDAQ:AAPL) reassigned one of its most important senior executives to a secret program called “Project Titan.” It’s widely believed to be a codename for the Apple Car project.

The company reassigned Bob Mansfield, a close confidant of Steve Jobs, to work on the secret Apple Car project. Other than Jonny Ive, Mansfield was the.

 

Microsoft Corporation: This Chart Shows Where MSFT Stock Is Going Next

MSFT Stock: Trend Remains Bullish
Once in a blue moon, I stumble upon a stock chart that has me in utter awe. The awe comes from the precise perfection of the painted chart. It is as if the technical analysis gods pulled it straight out of a textbook. I recently found one of these investments. What is it? Would you believe me if I told you it’s Microsoft Corporation (NASDAQ:MSFT) stock?

Microsoft has always been a name synonymous with the personal computer (PC). The first thing that often comes to mind when we here.

 

GoPro Inc: GoPro Camera Sales Could Provide Big Boost for GPRO Stock

GPRO Stock Gaining Popularity Again?
In the past 12-month, GoPro Inc (NASDAQ:GPRO) stock has been trading deep in the doldrums. Now, things might start to change.

Known as the maker of action cameras, GoPro stock had enjoyed solid gains since it went public two years ago. However, once people realized that not everybody needed a GoPro camera, things went south. In the past year, GPRO stock plunged a whopping 80%.

There is a silver lining in every cloud, though. Once the stock’s valuation gets low enough, any sign.

 

 

Confidential.Ellie Mae Inc: Housing Recovery Could Be Big Boost for ELLI Stock

Does ELLI Stock Deserve Your Attention?
Ellie Mae Inc (NYSE:ELLI) stock may not be a household name for many. However, the Pleasanton, California-based company’s position as a leading provider of on-demand software solutions and services for the residential mortgage industry is helping Ellie Mae stock to become one of the most intriguing under-the-radar companies.

It isn’t likely that Ellie Mae stock will stay under-the-radar for too much longer, though, especially when its second-quarter results.

Stock Market Buzz 8.1.16

Investors Global Markets Buzz 8.1.16

Investors Global Markets Buzz 8.1.16

Investors Global Markets Buzz 8.1.16

Investors Global Markets Buzz 8.1.16

Uber Technologies is giving up

its costly battle for China’s riders, swapping its local operations there for a minority stake in the country’s homegrown champion. The new entity combines Didi Chuxing’s (Private:DIDI) most recent valuation of $28B and Uber China’s $7B for a $35B market capitalization. Didi will also make a $1B investment in UBER as part of the complex deal, which will end the bruising competition between the two firms.

 

Economy

The Fed should be cautious

in considering an interest rate increase due to lingering risks to the U.S. economy, New York Fed President William Dudley declared, describing Friday’s GDP growth figure of 1.2% as “sluggish.” Although he said it was “premature” to rule out monetary policy tightening in 2016, he added that negative shocks were more likely than positive ones due to the unknown fallout from Brexit, a strong dollar and because it was safer to delay a move with rates so low.

China’s manufacturing sector

painted a mixed picture in July, with the official activity gauge unexpectedly slipping into contraction territory while another survey pointed to an expansion for the first time in 17 months. The government’s manufacturing PMI came in at 49.9, but Caixin’s figure, which tracks smaller-scale private firms compared to the official gauge, rose above the key 50 level for the first time since February 2015.

Other PMIs from around the globe

: Manufacturing growth across the eurozone eased in July, with Markit’s PMI for the bloc dropping to 52.0 from 52.8 in June, while Greek factory activity fell back in contraction. Sterling pulled back from the highs hit late last week on weak manufacturing figures, signaling some economic backlash from June’s Brexit vote. Japanese factory activity shrank in July at a slower pace than the previous month but new export orders contracted the fastest in more than 3.5 years.

Failure to ratify the TPP

would hand China “the keys to the castle” on globalization and do nothing to solve the real problems underlying American anxiety over jobs, according to U.S. Trade Representative Michael Froman. The tariff-slashing deal has turned into a hot-button topic in the run-up to the Nov. 8 presidential election, threatening to dampen support from lawmakers needed to pass an agreement critics condemn as a job-killer.

Britain’s Financial Conduct Authority

and the China Securities Regulatory Commission are discussing an agreement that will pave the way for landmark financial services projects between the countries, easing fears that the U.K. could be a less attractive partner in a post-Brexit world. The scheme includes cooperation on a regulatory framework for distributing fund products in each other’s jurisdiction and a proposed London-Shanghai link for trading shares.

“The oil market is oversupplied

now but there are expectations that there will be balance between demand and supply in the market,” Iran’s Oil Minister Bijan Namdar Zanganeh said after a Reuters survey showed OPEC’s oil output this month was likely to reach its highest point in recent history. Today also marks the first day at the desk for OPEC’s new general secretary. Nigeria’s Mohammed Barkindo will be the first new top official at the cartel in almost a decade. Crude futures -1.4% to $41.04/bbl.

Brazil’s interim President Michel Temer

has expressed confidence in Rio de Janeiro’s ability to pull off a successful Olympics (beginning this Friday), despite fresh data showing surging crime rates in the capital. Around 85,000 security personnel are expected to be deployed during the Games, the largest contingent for a mega event, to guard the half a million visitors expected to descend upon Rio.

Investors Forex Market Buzz 8.1.16

Investors Forex Market Buzz 8.1.16

Investors Forex Market Buzz 8.1.16

Investors Forex Market Buzz 8.1.16

This morning, the greenback is trading higher against most of the major currencies, ahead of the US ISM and Markit manufacturing PMI along with the construction spending data, slated to release in a few hours.

The EUR is trading lower against the USD, after data indicated that activity in the manufacturing sector across the Eurozone slowed in July, piling pressure on the European Central Bank to loosen monetary policy again. The final Markit manufacturing PMI in the Eurozone fell in July from June, mainly due to a significant drop in business activity. Additionally, Germany’s final Markit manufacturing PMI edged lower in the same month.

The GBP is trading lower against the USD, after data indicated that activity in UK’s manufacturing sector plunged to its lowest level since 2013, in the wake of Britain’s decision to leave the European Union.

The AUD lost ground against the USD, ahead of the RBA interest rate decision, scheduled tomorrow.

On Friday, the greenback traded lower in the New York session, against the key currencies, after dismal GDP data in the US diminished the prospects of a Fed rate hike as soon as in September. Data indicated that, the nation’s economy expanded at a slower than expected pace of 1.2% on a quarterly basis in 2Q 2016.  Moreover, the nation’s final Michigan consumer sentiment index declined in July. Additionally, the Chicago Fed purchasing managers’ index eased in the same month.



 

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1167 against the USD, 0.08% lower from the New York close, after data indicated that, Eurozone’s final Markit manufacturing PMI edged lower in July from June. This morning, the pair traded at a high of 1.1183 and a low of 1.1157. The Euro traded 0.21% higher against the US Dollar in the New York session on Friday, with the pair closing the session at 1.1176. The pair is expected to its find support at 1.1114 and its first resistance at 1.1209.

 

GBPUSD

At 09:40 GMT, the pair is trading at 1.3182, with the Pound trading 0.32% lower against US Dollar from the New York close, after UK’s final Markit manufacturing PMI surprisingly dropped in July. The pair witnessed a high of 1.3261 and a low of 1.3170 during the session. On Friday, the Pound traded marginally lower against the US Dollar in the New York session and ended at 1.3224. Immediate downside, the first support level is seen at 1.3121, while on the upside, the first resistance level is situated at 1.3272.

 

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 102.13 against the Yen, marginally higher from the New York close. Early morning data indicated that, Japan’s final manufacturing PMI climbed in July. During the session, the pair traded at a high of 102.63 and a low of 102.03. On Friday, the US Dollar traded 0.7% lower against the Yen in the New York session and ended at 102.08. The pair is expected to its find support at 101.51 and its first resistance at 103.17.

 

USDCHF

The US Dollar is trading at 0.9681 against the Swiss Franc at 09:40 GMT this morning, 0.1% lower from the New York close. As Switzerland observes a national holiday today, trading trend in the pair would be determined by global macroeconomic news. The pair traded at a high of 0.9703 and a low of 0.9673 this morning. On Friday, the USD traded 0.27% lower against the CHF in the New York session and ended at 0.9691. The pair is expected to its find support at 0.9620 and its first resistance at 0.9754.

 

USDCAD

The pair is trading at 1.3072 at 09:40 GMT this morning, with the USD trading 0.31% higher against CAD from the New York close. Moving ahead, market participants would await the release of Canada’s RBC manufacturing PMI data for July, due to release tomorrow. The pair traded at a high of 1.3076 and a low of 1.3024 this morning. The US Dollar declined against the Canadian Dollar in the New York session on Friday, closing 0.69% lower at 1.3032. The pair is expected to its find support at 1.2985 and its first resistance at 1.3171.

 

AUDUSD

The pair is trading at 0.7580 at 09:40 GMT this morning, with the Australian Dollar trading 0.24% lower against US Dollar from the New York close. Overnight data indicated that Australia’s AiG performance of manufacturing index rose in July. This morning, the pair traded at a high of 0.7614 and a low of 0.7573. The Australian Dollar traded 0.52% higher against the US Dollar in the New York session on Friday, with the pair closing the session at 0.7598. The pair is expected to its find support at 0.7513 and its first resistance at 0.7630.

 

Gold

Gold is trading at $1355.90 per ounce at 09:40 GMT this morning, 0.15% lower from the New York close. This morning, the precious metal traded at a high of $1358.80 per ounce and a low of $1353.30 per ounce. On Friday, gold traded 0.7% higher in the New York session and closed at $1357.90 per ounce, as disappointing US economic data led to weakness in the greenback and increased demand for the precious yellow metal. Immediate downside, the first support level is seen at $1342.67 per ounce, while on the upside, the first resistance level is at $1365.57 per ounce.

 

Silver

The precious metal is trading at $20.55 per ounce at 09:40 GMT this morning, 0.78% higher from the New York close. During the session, silver traded at a high of $20.70 per ounce and a low of $20.34 per ounce. In the New York session on Friday, silver rose 0.69% and closed at $20.39 per ounce, tracking gains in gold prices. Immediate downside, the first support level is seen at $20.18 per ounce, while on the upside, the first resistance level is at $20.80 per ounce.

 

Oil

The commodity is trading at $41.06 per barrel at 09:40 GMT this morning, 0.77% lower from the New York close. Crude oil witnessed a high of $41.88 per barrel and a low of $41.02 per barrel during the session. In the New York session on Friday, crude oil rose 1.17% to close at $41.38 per barrel, reversing its previous session losses. Separately, Baker Hughes disclosed that US oil rig count advanced by 3 to 374 last week, registering its fifth consecutive rise. Immediate downside, the first support level is seen at $40.47 per barrel, while on the upside, the first resistance level is at $41.76 per barrel.

 

Economic Snapshot

 

UK manufacturing PMI declined in July

In the UK, the final manufacturing PMI registered a drop to 48.20 in July, compared to a level of 52.10 in the prior month. The preliminary figures had indicated a drop to 49.10. Market anticipation was for the manufacturing PMI to ease to 49.10.

 

Eurozone manufacturing PMI fell in July

The final manufacturing PMI registered a drop to 52.00 in July, in the Eurozone, higher than market expectations of a fall to a level of 51.90. The preliminary figures had indicated a drop to 51.90. In the previous month, the manufacturing PMI had registered a reading of 52.80.

 

German manufacturing PMI dropped in July

The final manufacturing PMI fell to a level of 53.80 in Germany, in July, compared to market expectations of a drop to 53.70. The preliminary figures had recorded a fall to 53.70. In the previous month, manufacturing PMI had registered a reading of 54.50.

 

Japanese manufacturing PMI registered a rise in July

In July, the final manufacturing PMI advanced to 49.30 in Japan. Manufacturing PMI had registered a reading of 48.10 in the prior month. The preliminary figures had recorded a rise to 49.00.

 

Chinese Caixin/Markit manufacturing PMI index registered an advance in July

Caixin/Markit manufacturing PMI index registered a rise to 50.60 in July, in China, higher than market expectations of a rise to 48.80. In the previous month, Caixin/Markit manufacturing PMI index had recorded a level of 48.60.

 

Chinese NBS non-manufacturing PMI climbed in July

The NBS non-manufacturing PMI in China advanced to 53.90 in July, compared to a level of 53.70 in the previous month.

 

Chinese NBS manufacturing PMI declined surprisingly in July

The NBS manufacturing PMI dropped unexpectedly to 49.90 in China, in July, compared to a reading of 50.00 in the previous month. Markets were anticipating the NBS manufacturing PMI to record a steady reading.

 

Australian new home sales recorded a rise in June

On a monthly basis, new home sales in Australia advanced 8.20% in June. New home sales had registered a drop of 4.40% in the prior month.

 

Australian AIG performance of manufacturing index advanced in July

The AIG performance of manufacturing index in Australia registered a rise to 56.40 in July. In the previous month, the AIG performance of manufacturing index had recorded a level of 51.80.

Investors Buz Forex Market Briefs 7.29.16

Investors Buz Forex Market Briefs 7.29.16

Investors Buz Forex Market Briefs 7.29.16

Investors Buz Forex Market Briefs 7.29.16

This morning, the greenback is trading lower against most of the major currencies, ahead of the US flash 2Q GDP data, slated to release in a few hours.

The EUR is trading higher against the USD, after Eurozone’s annual inflation advanced to an eight month high in July. Additionally, preliminary GDP data indicated that Eurozone’s economy grew at a slower pace in the second quarter, in line with market consensus. Moreover, the unemployment rate remained steady at 10.1% in June.

The Yen is trading higher against the USD, after the Bank of Japan (BoJ) maintained its benchmark interest rate steady at -0.1% and refrained from boosting the pace of government bond purchase program. However, the central bank expanded the purchase of exchange-traded funds (ETF).

Separately, overnight data revealed that Japan’s unemployment rate dropped unexpectedly to a 21-year low level of 3.1% in June. Moreover, the industrial production rebounded strongly on a monthly basis in June. On the other hand, annual consumer price index declined in June, at par with market expectations. Meanwhile, the BoJ in its quarterly outlook report, disclosed that Japanese economy is expected to grow at a modest pace and also revealed that it expects inflation to hit 2.0% target by 2017.

Yesterday, the greenback traded higher in the New York session, against the key currencies. On the data front, the US initial jobless claims advanced more than forecasted during last week.

 

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1110 against the USD, 0.31% higher from the New York close, after Eurozone’s seasonally adjusted GDP expanded 1.6% on a quarterly basis in the second quarter, in line with market expectations. This morning, the pair traded at a high of 1.1110 and a low of 1.1070. The Euro traded 0.23% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1076. In economic news, Germany’s flash consumer price index advanced more than expected on a monthly basis in July. The pair is expected to its find support at 1.1079 and its first resistance at 1.1125.

 

GBPUSD

At 09:40 GMT, the pair is trading at 1.3170, with the Pound trading 0.07% higher against US Dollar from the New York close. Overnight data indicated that, UK’s Gfk consumer confidence index declined more than anticipated in July. The pair witnessed a high of 1.3213 and a low of 1.3145 during the session. Yesterday, the Pound traded marginally higher against the US Dollar in the New York session and ended at 1.3161. Immediate downside, the first support level is seen at 1.3119, while on the upside, the first resistance level is situated at 1.3217.

 

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 103.54 against the Yen, 1.65% lower from the New York close. Early this morning, the BoJ held its key interest rate steady at -0.1%. During the session, the pair traded at a high of 105.29 and a low of 102.85. Yesterday, the US Dollar traded 0.49% higher against the Yen in the New York session and ended at 105.28.

The pair is expected to its find support at 102.43 and its first resistance at 105.08.

 

USDCHF

The US Dollar is trading at 0.9753 against the Swiss Franc at 09:40 GMT this morning, 0.51% lower from the New York close. In economic news, Switzerland’s KOF leading indicator index unexpectedly rose in July. The pair traded at a high of 0.9817 and a low of 0.9749 this morning. Yesterday, the USD traded marginally higher against the CHF in the New York session and ended at 0.9803. The pair is expected to its find support at 0.9720 and its first resistance at 0.9816.

 

USDCAD

The pair is trading at 1.3168 at 09:40 GMT this morning, with the USD trading 0.13% higher against CAD from the New York close. Moving ahead, investors would eye Canada’s GDP data for May, scheduled to be released in a few hours. The pair traded at a high of 1.3185 and a low of 1.3128 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing marginally lower at 1.3151. The pair is expected to its find support at 1.3134 and its first resistance at 1.3197.

 

AUDUSD

The pair is trading at 0.7507 at 09:40 GMT this morning, with the Australian Dollar trading 0.07% higher against US Dollar from the New York close. Macroeconomic data indicated that Australia’s private sector credit rose less than expected on a monthly basis in June. This morning, the pair traded at a high of 0.7549 and a low of 0.7490. The Australian Dollar traded 0.29% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7502. The pair is expected to its find support at 0.7481 and its first resistance at 0.7541.

 

Gold

Gold is trading at $1340.40 per ounce at 09:40 GMT this morning, 0.14% lower from the New York close. This morning, the precious metal traded at a high of $1350.70 per ounce and a low of $1335.00 per ounce. Yesterday, gold traded 0.58% lower in the New York session and closed at $1342.30 per ounce, reversing its previous session gains. Immediate downside, the first support level is seen at $1332.73 per ounce, while on the upside, the first resistance level is at $1350.33 per ounce.

 

Silver

The precious metal is trading at $20.14 per ounce at 09:40 GMT this morning, 0.57% lower from the New York close. During the session, silver traded at a high of $20.36 per ounce and a low of $20.01 per ounce. In the New York session yesterday, silver fell 0.74% and closed at $20.25 per ounce. Immediate downside, the first support level is seen at $19.90 per ounce, while on the upside, the first resistance level is at $20.48 per ounce.

 

Oil

The commodity is trading at $40.73 per barrel at 09:40 GMT this morning, 1.02% lower from the New York close. Crude oil witnessed a high of $41.20 per barrel and a low of $40.57 per barrel during the session. In the New York session yesterday, crude oil fell 1.79% to close at $41.15 per barrel, as rising concerns over supply glut, dented the demand for the commodity. Immediate downside, the first support level is seen at $40.13 per barrel, while on the upside, the first resistance level is at $41.78 per barrel.

 

Economic Snapshot

 

UK consumer confidence registered a drop in July

The consumer confidence in the UK registered a drop to -12.00 in July, compared to a reading of -1.00 in the prior month. Market expectation was for the consumer confidence to fall to -8.00.

 

Eurozone GDP advanced as expected in 2Q 2016

The seasonally adjusted preliminary gross domestic product (GDP) advanced 0.30% in the Eurozone on a QoQ basis in 2Q 2016, meeting market expectations. In the prior quarter, GDP had advanced 0.60%.

  

Eurozone unemployment rate remained flat in June

The unemployment rate remained unchanged at a level of 10.10% in June, in the Eurozone. Market anticipation was for the unemployment rate to record a steady reading.

 

German consumer price index advanced more than expected in July

On a monthly basis, the flash consumer price index advanced 0.30% in July, in Germany, more than market expectations for an advance of 0.20%. The consumer price index had advanced 0.10% in the prior month.

 

German retail sales unexpectedly slid in June

On a MoM basis, retail sales recorded an unexpected drop of 0.10% in June, in Germany, lower than market expectations for a rise of 0.10%. In the prior month, retail sales had climbed by a revised 0.70%.

 

Swiss KOF economic barometer registered an unexpected rise in July

Compared to a revised reading of 102.60 in the prior month the KOF economic barometer advanced unexpectedly to 102.70 in July, in Switzerland. Market expectation was for the KOF economic barometer to ease to a level of 101.40.

 

Bank of Japan maintained its key interest rate

The Bank of Japan held its key interest rate at -0.10%. Market expectation was for the central bank to cut its key interest rate to -0.15%.

 

Japanese unemployment rate eased unexpectedly in June

In June, unemployment rate fell unexpectedly to 3.10% in Japan, compared to a reading of 3.20% in the prior month. Markets were anticipating unemployment rate to record a steady reading.

 

Japanese national consumer price index (CPI) dropped as expected in June

On an annual basis, in June, the national consumer price index (CPI) fell 0.40% in Japan, at par with market expectations. The national consumer price index (CPI) had registered a similar fall in the previous month.

 

Japanese industrial production advanced more than expected in June

The flash industrial production in Japan recorded a rise of 1.90% on a MoM basis in June, more than market expectations for a rise of 0.50%. In the prior month, industrial production had fallen 2.60%.

 

Investors Buz Forex Market Briefs

Investors Buz Forex Market Briefs

Investors Buz Forex Market Briefs

Investors Buz Forex Market Briefs

This morning, the greenback is trading lower against most of the major currencies, ahead of US initial jobless claims data, slated to be released in a few hours.

The EUR is trading higher against the USD, after Germany’s unemployment rate remained at a record low in July, in line with market consensus. In other economic news, Eurozone’s final consumer confidence index remained steady in July. Going forward, investors would concentrate on Germany’s preliminary consumer price inflation data which is expected to improve in July.

The Yen is trading higher against the USD with market participants keenly awaiting the outcome of BoJ’s interest rate decision, Japan’s unemployment rate as well as consumer price index data. Markets broadly expects that the central bank would introduce fresh stimulus measures to revive economic growth.

Yesterday, the greenback traded lower in the New York session, against the key currencies, after the US Federal Reserve, in a widely expected move, maintained its benchmark interest rate unchanged at 0.5%. In a statement issued post meeting, the central bank indicated that near-term risks to the US economic outlook has reduced and also expressed optimism over the health of the nation’s labor market, thus reviving prospects that the central bank would resume interest rate hikes as soon as in September. Further, the central bank also reiterated that it continues to closely monitor global economic and financial developments.

 

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1094 against the USD, 0.38% higher from the New York close, after Germany’s seasonally adjusted unemployment rate remained steady in July, at par with investor expectations. This morning, the pair traded at a high of 1.1118 and a low of 1.1047. The Euro traded 0.51% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1052. The pair is expected to its find support at 1.0996 and its first resistance at 1.1155.

 

GBPUSD

At 09:40 GMT, the pair is trading at 1.3179, with the Pound trading 0.24% lower against US Dollar from the New York close. In economic news, UK’s Nationwide house prices unexpectedly advanced on a monthly basis in July. The pair witnessed a high of 1.3247 and a low of 1.3156 during the session. Yesterday, the Pound traded 0.72% higher against the US Dollar in the New York session and ended at 1.3211. Immediate downside, the first support level is seen at 1.3084, while on the upside, the first resistance level is situated at 1.3261.

 

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 104.69 against the Yen, 0.57% lower from the New York close. Going ahead, investors will closely monitor BoJ’s interest rate decision. During the session, the pair traded at a high of 105.31 and a low of 104.50. Yesterday, the US Dollar traded 0.3% lower against the Yen in the New York session and ended at 105.29. The pair is expected to its find support at 104.11 and its first resistance at 105.65.

 

USDCHF

The US Dollar is trading at 0.9834 against the Swiss Franc at 09:40 GMT this morning, 0.34% lower from the New York close. With no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news. The pair traded at a high of 0.9873 and a low of 0.9821 this morning. Yesterday, the USD traded 0.59% lower against the CHF in the New York session and ended at 0.9868. The pair is expected to its find support at 0.9786 and its first resistance at 0.9916.

 

USDCAD

The pair is trading at 1.3149 at 09:40 GMT this morning, with the USD trading 0.19% lower against CAD from the New York close. The pair traded at a high of 1.3180 and a low of 1.3097 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing 0.07% lower at 1.3174. The pair is expected to its find support at 1.3080 and its first resistance at 1.3234.

 

AUDUSD

The pair is trading at 0.7531 at 09:40 GMT this morning, with the Australian Dollar trading 0.56% higher against US Dollar from the New York close. Early morning data indicated that, Australia’s import price index unexpectedly declined on a quarterly basis in 2Q 2016, while export price index rose less than estimated on a quarterly basis in the same period. This morning, the pair traded at a high of 0.7550 and a low of 0.7482. The Australian Dollar traded 0.17% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7489. The pair is expected to its find support at 0.7449 and its first resistance at 0.7582.

 

Gold Prices

Gold is trading at $1347.70 per ounce at 09:40 GMT this morning, 0.11% higher from the New York close. This morning, the precious metal traded at a high of $1350.40 per ounce and a low of $1343.80 per ounce. Yesterday, gold traded 1.22% higher in the New York session and closed at $1346.20 per ounce, after the US Fed left its key interest rate unchanged. Immediate downside, the first support level is seen at $1332.47 per ounce, while on the upside, the first resistance level is at $1356.67 per ounce.

 

Silver Prices

The precious metal is trading at $20.36 per ounce at 09:40 GMT this morning, 0.12% lower from the New York close. During the session, silver traded at a high of $20.58 per ounce and a low of $20.26 per ounce. In the New York session yesterday, silver rose 3.29% and closed at $20.39 per ounce, tracking gains in gold prices. Immediate downside, the first support level is seen at $19.80 per ounce, while on the upside, the first resistance level is at $20.75 per ounce.

 

Oil Prices

The commodity is trading at $41.82 per barrel at 09:40 GMT this morning, 0.31% lower from the New York close. Crude oil witnessed a high of $42.18 per barrel and a low of $41.75 per barrel during the session. In the New York session yesterday, crude oil fell 2.01% to close at $41.95 per barrel, after the EIA disclosed that US crude stockpiles unexpectedly rose by 1.7 million barrels to 521.3 million barrels during the week ended 22 July. Immediate downside, the first support level is seen at $41.27 per barrel, while on the upside, the first resistance level is at $42.79 per barrel.

 

Economic Snapshot

 

UK house prices advanced unexpectedly in July

On a MoM basis, in July, the seasonally adjusted house prices unexpectedly climbed 0.50% in the UK, more than market expectations for an unchanged reading. House prices had recorded a rise of 0.20% in the prior month.

 

Eurozone business climate indicator registered an unexpected rise in July

The business climate indicator in the Eurozone registered an unexpected rise to 0.39 in July, higher than market expectations of a fall to 0.17. In the previous month, the business climate indicator had registered a reading of 0.22.

  

German number of people unemployed fell more than expected in July

In July, the number of people unemployed recorded a drop of 7.00 K in Germany, compared to a drop of 6.00 K in the prior month. Markets were expecting the number of people unemployed to ease 4.00 K.

 

Australian export price index advanced less than expected in 2Q 2016

The export price index in Australia registered a rise of 1.40% on a quarterly basis in 2Q 2016, lower than market expectations for an advance of 3.00%. In the previous quarter, the export price index had fallen 4.70%.

 

Australian import price index unexpectedly dropped in 2Q 2016

In 2Q 2016, the import price index unexpectedly dropped 1.00% in Australia on a QoQ basis, lower than market expectations for a rise of 1.50%. The import price index had fallen 3.00% in the previous quarter.