Fundamental Analysis from IFC Markets

[IFC Markets]

Today in USA will be released reports on Netflix, Johnson & Johnson, Procter & Gamble and other large companies. - 19.10.2021​

Todays’ Market Summary​

• On Monday, the US dollar index was almost unchanged.
• Yesterday, the US stock indexes S&P 500 and Nasdaq continued to rise, while the Dow fell slightly.
• Today world oil prices are slightly downward corrected.
• Gold quotes rose today on the back of the fall in the US dollar index.

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Top daily news​

The US dollar index has dropped markedly this morning. It's yet difficult to say what was the reason. Today world oil prices are slightly downward corrected. U.S. Energy Information Administration expects US shale oil production to increase in November

Forex news​

Currency Pair	Change
EUR USD	+0.37%
GBP USD	+0.38%
USD JPY	-0.18%

On Monday, the US dollar index was almost unchanged. It dropped noticeably this morning. It's yet difficult to say what was the reason. Yesterday's data on industrial production in the US for September turned out to be worse than forecast, but there was no catastrophic collapse in production. It decreased in comparison with August, but increased in annual terms. U.S. yield 10-Year Bond remained almost unchanged and is just below 1.6% per annum. Today in the US there will be data on the housing market for September (Housing Starts and Building Permits), as well as speeches by several representatives of the Fed. This morning, the minutes of the Reserve Bank of Australia published materials from the September meeting of the Australian Central Bank, which contains a discussion of tightening monetary policy amid a surge in inflation. This contributed to the strong growth of the Australian and New Zealand dollars, which won back all yesterday's losses and renewed their highs for the month. The British pound is also up noticeably this morning. Earlier, Bank of England Governor Andrew Bailey announced a possible rate hike if inflation in Britain rises in September. It will be released tomorrow, October 20. The forecast is + 3.4% against + 3.2% in August. Bitcoin rallied slightly this morning in anticipation of the start of trading in its futures ETFs on the US exchanges. It is trading just below yesterday's high of $ 63,000. Some players expect a correction in the cryptocurrency market based on the traders' adage “Buy the rumor, sell the fact”.

Stock Market news​

Indices	Change
Dow Jones Index	-0.1%
S&P 500	+0.34%
Nasdaq 100	+0.84%
US Dollar Index	-0.33%

Yesterday, the US stock indexes S&P 500 and Nasdaq continued to rise, while the Dow fell slightly. Facebook (+ 3.3%) announced the creation of 10 thousand new jobs in Europe in order to develop an online "metaverse". Apple (+ 1.2%) held a presentation of its new devices: HomePod - mini, AirPods and the new MacBook Pro. Against this background, shares of Amazon.com, Netflix, Alphabet and Microsoft also rose by about 1%. Walt Disney shares fell 3% on lower valuation by Barclays. This caused the Dow to fall. Quarterly reports of major companies will be published in the United States today: Johnson & Johnson, Procter & Gamble, Netflix, Bank of New York Mellon, United Airlines and others.

Commodity Market news​

Brent Crude Oil

Commodities	Change
WTI Crude	+0.62%
+0.55%
COPPER	2.04%

Today world oil prices are slightly downward corrected. Investors reacted to the slowdown in Chinese economic growth in the third quarter and US industrial production in September. An additional negative was the forecast of the U.S. Energy Information Administration on an increase in shale oil production in the United States in November by 76 thousand barrels per day (bpd) to 8.3 million bpd. The main increase in production will take place at the Permian basin fields in the states of Texas and New Mexico. Note that oil refining in China in September 2021 decreased to a minimum since May 2020. On a monthly basis, the decline in US industrial production in September was the largest in 7 months on the back of a chip shortage.

Gold Market News​

Metals	Change
Gold	+0.69%
Silver/US Dollar	+1.52%

Gold quotes rose today on the back of the fall in the US dollar index. The recovery in palladium demand may slow slightly amid stagnation in electronics production due to a shortage of computer chips. The world's largest producer of palladium, Norilsk Nickel, has lowered its forecast for the global deficit of this metal this year to 200-300 thousand ounces compared to the previous estimate of 400-500 thousand ounces. The forecast for the global deficit in 2022 was reduced to 300 thousand ounces from 700 thousand.

 

[IFC Markets]

Tesla reports to be released in the US today - 20.10.2021​

Todays’ Market Summary​

• The US dollar index dropped on Tuesday.
• Yesterday, US stocks rose thanks to good third-quarter reporting by Johnson & Johnson (+ 2.3%), a manufacturer of the Covid-19 vaccine.
• World oil prices hit their recent highs this morning, but are now correcting slightly downward.
• Gold quotes are rising today for the second day in a row on the back of the fall in the US dollar index.

Top daily news​

On Tuesday, the US dollar index dropped due to unexpectedly weak data on the residential real estate market in September. For now the dollar has won back some of the losses thanks to the 10-Year Bond rise in US yields. Yesterday, US stocks rose on strong third-quarter reporting from Johnson & Johnson. Today, their dynamics can be influenced by the reporting of the electric car manufacturer Tesla. The Chinese authorities are going to make every effort to reduce energy prices for the domestic market. Warm and windy weather forecasts in Europe could reduce the demand for natural gas.

Forex news​

Currency Pair	Change
EUR USD	-0.1%
GBP USD	-0.17%
USD JPY	+0.03%

The US dollar index dropped on Tuesday. This was facilitated by unexpectedly weak data on the residential real estate market in September and, possibly, the start of trading in ETFs for Bitcoin. Housing Starts and Building Permits have declined much more than expected. In addition, Richmond Fed President Thomas Barkin said the labor shortage could slow US economic growth if the government does not improve childcare, education and health care. These improvements may require additional budgetary costs. At the end of the day, the dollar won back some of the losses thanks to the growth of the US 10-Year Bond yield to a 5-month high of 1.672% per annum. Investors are confident that at a meeting on November 3, the Fed will announce a reduction in the volume of redemption of government and mortgage bonds by $ 15 billion per month. The Fed is now buying back these bonds for $ 120 billion a month, mainly through the issuance of the dollar. The Federal Reserve System Beige Book will be published in the US today. In Britain, the Eurozone and Canada, there are important inflation data for September. They can affect the rates of the respective currencies. They are strengthening slightly against the US dollar this morning. Today the price of bitcoin has increased, but has not yet been able to renew its historical maximum, which was in mid-April of this year. Yesterday, the ProShares Bitcoin Strategy ETF began trading on the New York Stock Exchange. Taking into account over-the-counter trading (After Hours), it grew by about 5%. Bitcoin itself has risen in price less - by 3.5%. In theory, a Bitcoin correction could support the dollar in the short term. However, it is still difficult to say whether there will be a noticeable correlation between them.

Stock Market news​

Indices	Change
Dow Jones Index	+0.56%
S&P 500	+0.74%
Nasdaq 100	+0.71%
US Dollar Index	+0.13%

Yesterday, US stocks rose thanks to good third-quarter reporting by Johnson & Johnson (+ 2.3%), a manufacturer of the Covid-19 vaccine. In addition, against the backdrop of the start of ETF trading for Bitcoins, shares of IT companies rose in price: Apple (+ 1.5%), Facebook (+ 1.4%) and Microsoft (+ 0.3%). Facebook has created a new crypto wallet Novi, in collaboration with crypto exchange Coinbase (+ 4.2%). The social network may rebrand in connection with the development of a new product - the metaverse. Netflix's financials were neutral (+ 0.2%). Bank Goldman Sachs raised its recommendation on Walmart shares (+ 2.1%). Pharmaceutical companies Merck (+ 3%) and Pfizer (2%) rose after failed testing of a new coronavirus drug developed by their rival Atea Pharmaceuticals (-65%). Quarterly reports of large companies will be published in the US today: Tesla, Verizon, IBM, Biogen and others. Futures for US stocks are now declining as investors fear that a shortage of computer chips and other microcircuits could have a negative impact on Tesla's electric vehicle sales.

Commodity Market news​

Commodities	Change
WTI Crude	-0.97%
Brent Crude Oil	-0.96%
COPPER	-1.05%

World oil prices hit their recent highs this morning, but are now correcting slightly downward. Yesterday they rose despite the announcement of the American Petroleum Institute on the increase in oil reserves in the United States for the week by 3.3 million barrels. Today, an additional negative for hydrocarbon quotes was the announcement of China's National Development and Reform Commission (NDRC) about plans to stimulate an early increase in coal production in the country to 12 million tons per day. This is 1.6 million tons per day more than the September level. The Chinese authorities are going to make every effort to reduce energy prices for the domestic market. Natural gas quotes may continue to decline amid forecasts of warming and strong winds in Europe. This could increase energy production from wind farms and reduce demand for heating gas. Another negative factor for gas quotes may be the launch of the new Nord Stream 2 gas pipeline.

Gold Market News​

Metals	Change
Gold	+0.31%
Silver/US Dollar	+0.01%

Gold quotes are rising today for the second day in a row on the back of the fall in the US dollar index. Today's data on inflation in the EU, Britain and Canada may affect the price of precious metals, if they help investors predict tightening of monetary policy by the central banks of these countries. Market participants now believe that the Fed may raise the rate for the first time in September 2022. However, the Central Banks of other countries, and especially the European Central Bank (ECB), may do this earlier. The ECB rate is now 0%, while the Fed and Bank of Canada rates are higher at 0.25%. The Bank of England rate is also less than that of the Fed and is equal to 0.1%.

 

[IFC Markets]

Dow index, yesterday renewed its all-time high - 21.10.2021​

Todays’ Market Summary​

• On Wednesday, the US dollar index dropped for the 2nd day in a row.
• Yesterday US stock indices S&P 500 and Dow rose.
• Yesterday, world oil prices rose for the second day in a row.
• Gold quotes rose on the back of the fall in the US dollar index.

Top daily news​

Yesterday, the US stock indexes S&P 500 and Dow rose. Moreover, the Dow managed to renew its historical maximum. To date, only about 15% of American companies have reported for the 3rd quarter. However, their performance was good. Refinitiv has raised its forecast for the increase in the total profit of companies from the S&P 500 list to 33%. The index itself has grown by 32% in 12 months. Today, oil is correcting downward after some importing countries approached OPEC + with a request for a more significant increase in production.

Forex news​

Currency Pair Change

EUR USD: -0.11%

AUD USD: -0.41%

GBP USD-: 0.15%

On Wednesday, the US dollar index dropped for the 2nd day in a row. This happened in spite of the positive economic outlook for the Federal Reserve System Beige Book. It noted a slight acceleration in the growth of the American economy as the Covid-19 epidemic subsided. Another good factor for the US currency was the statement by the Fed Governor Randal Quarles that it is time for the Fed to cut its asset repurchase program, but the rate hike (+ 0.25%) is still premature. Investors now expect the US regulator to raise rates twice next year. The rate of the American currency yesterday completely ignored all this positive and fell against the background of the powerful growth of bitcoin to $ 67,000. Bitcoin is correcting downward this morning and the US dollar index has started to rise. Most likely, the relationship between their quotes will soon cease, as the excitement around the crypto ETF will pass. In the US today economic data will be published: unemployment for the week (Initial Jobless Claims), Philadelphia Fed Manufacturing Index (activity in the industry from the Federal Reserve Bank of Philadelphia), Existing Home Sales (sales in the secondary market of residential real estate). Forecasts are neutral. The British pound is weakening today. Good data on the decline in inflation (+ 3.1%) in Britain in September slightly lowered the likelihood of a rate hike by the Bank of England at its meeting on November 4.

Stock Market news​

Indices Change

Dow Jones Index: +0.43%

S&P 500: +0.37%

Nasdaq 100: -0.05%

US Dollar Index: +0.17%


Yesterday US stock indices S&P 500 and Dow rose. Moreover, the Dow managed to renew its historical maximum. Tesla's earnings were positive, but its stock gained very modest 0.2% as investors fear a chip shortage could cut car production in the fourth quarter. The Nasdaq Index declined slightly due to weak quarterly reporting by computer company IBM (-4.3%) and medical Biogen (-0.6%). IBM released its financials after the close of yesterday's trading (After Hours), so investors continue to react to them today. Futures on US stock indices are now declining. An additional negative was the next problems with the redemption of bonds from China Evergrande Group (-13.2%) and the decline in Asian stock indices Hang Seng (-0.9%) and Nikkei (-1.9%). Quarterly financials for PayPal, Intel, AT&T and others are due in the US today. Note that the quotes of the PayPal payment system yesterday fell by almost 5% after the announcement of its purchase by Pinterest (+ 12.8%) for $ 45 billion.

Commodity Market news​

Commodities Change

WTI Crude: -0.67%

Brent Crude Oil: -0.91%

COPPER: -2.16%


Yesterday, world oil prices rose for the second day in a row. U.S. The Energy Information Administration unexpectedly announced a 431,000 barrels cut in inventories last week. Oil is getting cheaper this morning thanks to the statements of the representatives of the largest importing countries: the Minister of Oil of India and the Prime Minister of Japan. They expressed concern about high prices and called on OPEC + to increase production above the planned level of 400 thousand barrels per day (bpd). The next OPEC + meeting will take place on November 4. It will discuss oil production in December. Earlier, the countries of the cartel have already agreed on a monthly increase in production by 400 thousand bpd until March or September 2022. Importers are asking to increase this limit as soon as possible. High oil prices have triggered an increase in the demand for biofuels. The United States Department of Agriculture (USDA) reported that its production in the United States increased to its highest since 2018 and reached 1.1 million bpd. This may increase the price of corn, which is a raw material for biofuels (ethanol).

Gold Market News​

Metals Change

Gold: -0.04%

Silver/US Dollar: -0.73%




Gold quotes rose on the back of the fall in the US dollar index. Palladium fell in line with the Norilsk Nickel forecast we mentioned in previous reviews. Norilsk Nickel added negative news to palladium yesterday, announcing that it increased its production in the third quarter of this year by 9% to 598 thousand ounces. It also boosted platinum production by 8% to 145,000 ounces. The highest growth among precious metals was shown by silver, which is used in green energy and electric vehicles. For 2 days, Tuesday and Wednesday, silver has risen in price by more than 5%.

 

[IFC Markets]

The S&P 500 hit its all-time high yesterday - 22.10.2021
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Todays’ Market Summary​

• On Thursday, the US dollar index rose slightly on good macroeconomic data.
• American stock indices rose yesterday.
• Yesterday, world oil prices corrected downward after a 2-day rise.
• Gold quotes are rising today for the 4th day in a row on the back of the fall in the US dollar index.

Top daily news​

On Thursday, the US dollar index rose slightly thanks to good macroeconomic data and a statement from FRS spokesman Christopher Waller. Fed Chairman Jerome Powell is expected to speak today. The S&P 500 hit its all-time high on the back of positive Intel reports. Russia and Iraq announced that they can increase oil production in order to provide economic assistance to importing countries and to reduce world prices.

Forex news​

Currency Pair	Change
EUR USD	+0.19%
GBP USD	-0.06%
USD JPY	-0.07%

On Thursday, the US dollar index rose slightly on good macroeconomic data. They confirm the recovery of the American economy after the Covid-19 epidemic. Initial Jobless Claims (the number of new unemployed) for the week in the United States fell to 290 thousand people. This is a 19 month low. Existing Home Sales rose to an 8-month high in September. An additional positive was the opinion of Fed Governor Christopher Waller on the need to reduce the Federal Reserve balance over the next two years. According to him, it now stands at $ 8 trillion. 10-year U.S. Yield Growth Treasury to the maximum since April of this year (1.7% per annum) also supported the dollar rate. An important factor in yesterday's strengthening of the American currency was the downward correction of bitcoin quotes by 6% after the renewal of the historical maximum of $ 67,000. The daily turnover of trading in cryptocurrencies is now about $ 100 billion. This is already comparable to the volume of trading in the global oil market. Bitcoin is up slightly this morning and the US Dollar Index is down. Bitcoin's rise in price could have been facilitated by the message of the Walmart trading network (shares rose + 0.6%) about plans to install 200 bitcoin ATMs in their stores and then increase their number to 8000. Earlier, the Mastercard payment system (-0.2%) announced that it was going to start operations with cryptocurrencies.

Stock Market news​

Indices	Change
Dow Jones Index	-0.02%
S&P 500	+0.3%
Nasdaq 100	+0.62%
US Dollar Index	-0.13%

American stock indices rose yesterday. The S&P 500 has renewed its all-time high. This was facilitated by good macroeconomic data, as well as positive reporting by the manufacturer of computer processors Intel (+ 1.1%). Investors decided that the global chip shortage could end soon. This triggered a 3.3% rise in the electric vehicle maker Tesla. Now the shares of this company are trading with relatively high fundamentals of P / S = 20 and P / E = 450. Market participants expect Tesla sales to continue to grow rapidly. In the third quarter, the company's revenue increased by 57% compared to the same period last year, and net profit - 4.8 times. This morning, futures for US stock indexes fell. Social network Trump Media and Technology Group, associated with former US President Donald Trump, is about to acquire Digital World Acquisition (its shares soared 4 times). Investors believe Donald Trump wants to run in the US presidential elections in 2024 and is developing his new social network for this. Against this background, quotes of other social networks Facebook and Twitter fell by almost 5%, since they had previously banned Donald Trump. Today in the US, the preliminary Markit Manufacturing PMI (indicator of business activity in the industry) for October will be released, as well as a speech by Fed Chairman Jerome Powell. Quarterly financials for Honeywell, American Express, Schlumberger and others are due in the US today.

Commodity Market news​

Commodities	Change
WTI Crude	-0.21%
Brent Crude Oil	-0.26%
COPPER	+0.82%

Yesterday, world oil prices corrected downward after a 2-day rise. This was facilitated by the announcement of the introduction of quarantine in Russia due to the outbreak of the coronavirus epidemic. Investors fear that the quarantine could spread to neighboring countries in eastern Europe and Asia. In addition, Russia and Iraq reported that they can increase oil production in order to provide economic assistance to importing countries and reduce world prices. The next OPEC + meeting will take place on November 4. It will discuss oil production in December. Another important negative factor for oil was the drop in coal prices in China by 20%. The China's National Development and Reform Commission earlier announced measures to stabilize the domestic coal market. Copper quotes increased today on the back of a coupon on bonds from China's largest construction company, China Evergrande Group. Copper is actively used in construction. In addition, the International Copper Study Group (ICSG) reported a global copper deficit for 7 months of 2021 in the amount of 138 thousand tons.

Gold Market News​

Metals	Change
Silver/US Dollar	+0.96%
Gold	+0.62%

Gold quotes are rising today for the 4th day in a row on the back of the fall in the US dollar index. Precious metals prices are supported by new forecasts for further increase in US inflation. In October, it may grow to + 5.6% in annual terms compared to + 5.3% in September. The data will be released on November 10.

 

[IFC Markets]

Facebook Quarterly Reports to be released Today - 25.10.2021​

Todays’ Market Summary​

• The US dollar index declines today for the second time in a row.
• On Friday, the US stock market was mixed.
• Today, world oil prices continued to rise.
• Gold quotes are rising today for the 5th day in a row on the back of the fall in the US dollar index.

Top daily news​

The US dollar index is declining today, for the second time in a row. This is happening in contrary to the statement by Federal Reserve Chairman Jerome Powell that his department should begin to reduce the volume of buybacks of government and mortgage bonds. Shares in computer processor maker Intel tumbled nearly 12% on weak quarterly earnings. U.S. West Texas Intermediate (WTI) renewed its 7-year high and approached $ 85 per barrel due to several positive factors at once.

Forex news​

Currency Pair Change

EUR USD +0.11%

GBP USD +0.28%

USD JPY +0.15%

The US dollar index declines today for the second time in a row. This is happening in contrary to a statement by Federal Reserve Chairman Jerome Powell that his department should begin to reduce the volume of buybacks of government and mortgage bonds. Now it is $ 120 billion per month. At the same time, the FRS rate hike (+ 0.25%) may begin in the second half of next year. Macroeconomic data disappointed investors on Friday. The indicator of activity in the American industry Markit Manufacturing PMI Flash for October turned out to be worse than forecast and fell to 59.2 points. Similar indicators in Germany and the Eurozone exceeded forecasts in October and amounted to 58.2 and 58.5. This contributed to the strengthening of the euro, despite the fact that they were lower than in the US. The Coincident Index and the Leading Economic Index were released this morning in Japan. They turned out to be worse than the forecast. This contributed to a slight weakening of the yen. Bitcoin maintained its $ 60,000 support level on Friday. Today bitcoin is becoming more expensive, which may become another negative factor for the US dollar.

Stock Market news​

Indices Change

Dow Jones Index +0.21%

S&P 500 -0.11%

Nasdaq 100 -0.82%

US Dollar Index -0.13%

On Friday, the US stock market was mixed. PC processor maker Intel shares plummeted nearly 12% on weak quarterly earnings. This contributed to the decline in the S&P 500 and Nasdaq indices. The Dow rose and hit a new all-time high thanks to strong reporting by American Express (+ 5.4%). This payment system works with cryptocurrency exchanges such as FalconX. Refinitiv raised its forecast for the total profit of companies from the S&P 500 listing in the 3rd quarter to + 34.8%. Quarterly financials for Facebook, Kimberly-Clark and other companies are due out today in the US. Facebook quotes on Friday plummeted 5% amid internet problems with the Snapchat photo service. Snap Inc shares plunged nearly 26%. No significant economic information is expected to be released in the US today.

Commodity Market news​

Commodities Change

WTI Crude +0.75%

Brent Crude Oil +0.73%

COPPER +1.24%

Today, world oil prices continued to rise. U.S. West Texas Intermediate (WTI) hit a new 7-year high and approached $ 85 a barrel. Several factors contributed to this. U.S. Commodity Futures Trading Commission announced an increase in positions to buy oil futures and options (net long). Oilfield services company Baker Hughes reported a weekly cut in the number of US oil and gas rigs for the first time in 7 weeks. This was very unexpected, since against the backdrop of a strong growth in quotations, an increase in hydrocarbon production in the United States was expected. Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman has called on OPEC + to be careful in managing oil supplies to the global market. Investors decided that the cartel will keep the schedule of monthly production increase by 400 thousand barrels per day unchanged. Saudi Arabia's opinion has already been supported by Nigeria and Azerbaijan. Construction company China Evergrande Group has paid off part of its debt. This significantly reduced the risks of a large-scale economic crisis in China. This supported the rise in oil and copper prices.

Gold Market News​

Metals Change

Gold +0.24%

Silver/US Dollar +0.38%

Gold quotes are rising today for the 5th day in a row on the back of the fall in the US dollar index. Precious metals prices are supported by new forecasts for further increase in US inflation. In October, it may grow to + 5.6% in annual terms compared to + 5.3% in September. The data will be released on November 10. Note that on Friday, inflation rose in Japan and Mexico. The Fed's plans to reduce bond redemption through money emission contributed to a decrease in positions to buy (net long) gold for the week. This was reported by the U.S. Commodity Futures Trading Commission.

 

[IFC Markets]

Markets buoyant after Wall Street closes at fresh records - 1.11.2021​

Todays’ Market Summary​

• The Dollar strengthening is intact currently.
• Futures on US equity benchmarks are up currently
• Brent is retreating currently ahead of OPEC meeting this week where the Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, are expected to maintain production cuts.
• Gold prices are edging up

Top daily news​

Global equities are mostly up currently after Wall Street closed at records Friday. Microsoft shares gained 2.24% outperforming market as its market capitalization hit $2.49 trillion making it the world’s most valuable publicly traded company, Amazon shares dipped 2.15% Friday as its profits almost halved to $3.2 billion from $6.3 billion in the third quarter though sales rose 15% to $110.8 billion

Forex news​

Currency Pair	Change
EUR USD	-0.35%
GBP USD	-0.6%
USD JPY	+0.2%
AUD USD	-0.3%

The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, jumped 0.8% on Friday after Commerce Department data showed US inflation rose 4.4% over year in September, its biggest jump since January 1991.

Both EUR/USD and GBP/USD reversed their climbing Friday after the German statistics department Destatis report the German gross domestic product (GDP) rose by 1.8% over quarter in the third quarter when a 2.2% growth was forecast. Both euro and Pound are lower against the Dollar currently. USD/JPY revered its sliding Friday while AUD/USD reversed its advancing with both the Australian dollar and yen lower against the Greenback currently.

Stock Market news​

Indices	Change
Dow Jones Index	+0.08%
Nikkei Index	+0.98%
Hang Seng Index	-0.6%
Australian Stock Index	+0.28%

Futures on US equity benchmarks are up currently ahead of Institute for Supply Management’s Manufacturing PMI report due at 15:00 CET today. The Wall Street closed at records Friday despite disappointing results from Amazon and Apple which missed earnings expectations citing supply chain bottlenecks: the three main US stock benchmarks recorded daily gains ranging from 0.2% to 0.3%.

European stock indexes are up currently after ending mixed on Friday with utilities shares leading losses. Asian indexes are mostly advancing today with Chinese markets down after weekend data showed a sharper than expected contraction of Chinese factory activity. NIKKEI is lading gains after Prime Minister Fumio Kishida’s Liberal Democratic Party did better than expected at Sunday’s election, easily retaining a majority.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.5%
WTI Crude	-0.3%

Brent is retreating currently ahead of OPEC meeting this week where the Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, are expected to maintain production cuts. Prices rose on Friday despite energy services firm Baker Hughes report the number of active US oil rigs rose for a 15th month in row in October. West Texas Intermediate (WTI) futures added 0.9% but is lower currently. Brent crude rose 6 cents to $84.38 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	+0.14%

Gold prices are edging up today. December gold fell 1% settling at $1783.90 an ounce on Friday – logging an 0.7% loss for the week but climbing by 1.5% for the month.

 

[IFC Markets]

Global equities mixed after Wall Street sets more records - 2.11.2021​

Todays’ Market Summary​

• The Dollar weakening has not ceased currently
• Futures on three main US stock indexes are down
• Brent is extending gains currently ahead of data from the American Petroleum Institute later today.
• Gold prices are rising currently

Top daily news​

Equity index futures are mixed currently after Wall Street edged higher to fresh records Monday. Tesla shares jumped 8.5% surging over 50% in a single month after news of a new lithium partnership with Ganfeng Lithium, the world’s largest provider of the metal by valuation, which will supply Tesla with lithium products for three years as prices for battery metals surge, Facebook shares added 1.98% on Monday outperforming market.

Forex news​

Currency Pair	Change
EUR USD	+0.07%
GBP USD	-0.6%
USD JPY	-0.4%
AUD USD	-0.57%

The Dollar weakening has not ceased currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.24% on Monday as Institute for Supply Management reported US manufacturing activity slowed in October.

EUR/USD reversed its retreating Monday while GBP/USD continued sliding despite statistics office Destatis report German retail sales declined in September. Euro is higher against the Dollar currently while Pound is lower still. AUD/USD continued retreating while USD/JPY continued advancing Monday. The Australian dollar is lower against the Greenback currently and yen higher as the Reserve Bank of Australia’s step toward unwinding extraordinary pandemic stimulus policies by abandoning an ultra-low target for bond yields was deemed less hawkish than expected.

Stock Market news​

Indices	Change
Dow Jones Index	-0.08%
Nikkei Index	-0.48%
Hang Seng Index	-0.37%
Australian Stock Index	-0.4%

Futures on three main US stock indexes are down while US 10-year Treasury yields inched down to 1.559% currently. Stocks edged higher Monday ahead of Federal Reserve meeting starting today. The Federal Reserve is expected to approve on Wednesday plans to scale back its $120 billion monthly bond-buying program. The three major Wall Street stock benchmarks notched fresh records, booking daily gains in the range of 0.2% to 0.6% led by energy shares.

European stock indexes are up currently after ending higher Monday with all sectors finishing in positive territory. Asian indexes are mostly down today led by Shanghai Composite despite Beijing’s pledge of more support for the consumer services sector.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+1.4%
WTI Crude	+1.2%

Brent is extending gains currently ahead of data from the American Petroleum Institute later today. Prices closed solidly higher Monday as The Organization of the Petroleum Exporting Countries, collectively known as OPEC, pumped 27.50 million barrels per day (bpd) in October, a rise of 190,000 bpd from the previous month but below the 254,000 increase permitted under the supply deal. Prices rose despite China’s release of gasoline and diesel reserves to increase market supply and support price stability in some regions. US West Texas Intermediate WTI rose 0.57% and is higher currently. Brent gained 1.2% to $83.03 a barrel on Monday.

Gold Market News​

Metals	Change
Gold	+0.64%

Gold prices are rising currently. December gold added 0.7% to $1795.80 an ounce on Monday, ahead of Fed meeting.

 

[IFC Markets]

The next meeting of the US Federal Reserve will take place today - 3.11.2021​

Todays’ Market Summary​

• On Tuesday, the US dollar index rose slightly.
• Yesterday American stock indices rose and once again renewed their all-time highs.
• Today world oil prices have been declining for the second day in a row.
• Gold is falling in price today for the second day in a row on the back of the strengthening of the US dollar.

Top daily news​

Investors expect the US Federal Reserve to announce the start of a cut in monthly government and mortgage bond buybacks today. Now it is $ 120 billion. Most likely, the Fed will announce a gradual reduction of this volume by $ 15 billion per month. A rate change of 0.25% is not expected at today's meeting. According to participants in the foreign exchange market, it may be raised for the first time next summer. Today, world oil prices are declining for the second day in a row amid an increase in US oil reserves and criticism of OPEC + by US President Joe Biden.

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Forex news​

Currency Pair	Change
EUR USD	+0.04%
GBP USD	+0.07%
USD JPY	-0.01%

On Tuesday, the US dollar index rose slightly. Investors expect the US Federal Reserve to announce the start of a cut in monthly government and mortgage bond buybacks at its meeting today. Now it is $ 120 billion. Most likely, the Fed will announce a gradual reduction of this volume by $ 15 billion per month. A rate change of 0.25% is not expected at today's meeting. According to participants in the foreign exchange market, it may be raised for the first time next summer. There was no important economic data available yesterday in the US. We can note a noticeable collapse of the Australian dollar due to a decrease in the likelihood of rate hikes next year. Reserve Bank of Australia at its yesterday's meeting not only kept the rate of 0.1%, but also unexpectedly refused to support the consistently low yield of 3-year government bonds (targeting) 0.1% per annum. The New Zealand dollar also fell yesterday, but there was no particular economic negative in New Zealand. On the contrary, today there was published data on a decrease in unemployment in the 3rd quarter to 3.4%. This is at least since the 4th quarter of 2007. In the euro area today there are unemployment data for September and the ECB head Christine Lagarde is expected to speak.

Stock Market news​

Indices	Change
Dow Jones Index	+0.39%
S&P 500	+0.37%
Nasdaq 100	+0.34%
US Dollar Index	+0.02%

Yesterday American stock indices rose and once again renewed their all-time highs. The S&P 500 and Nasdaq did it for the 4th time in a row, and the Dow for the 3rd time. Investors believe that a possible tightening of the Fed's monetary policy will be moderate at today's meeting. High global inflation increases corporate revenue. Refinitiv has raised its forecast for the growth of all cumulative, quarterly earnings of the S&P 500 to + 40.2%. To date, about 65% of companies have reported. Shares of payment systems Visa (-1.6%), Mastercard (-1.7%), American Express (-0.6%) fell in price against the background of rising bitcoin quotes. In addition to the Fed meeting, the dynamics of American stock indices may be affected by today's labor market data for October from the independent agency ADP. They will help clarify the forecast for United States Nonfarm Payrolls, which will be released on Friday. In the meantime, investors expect a sharp cut in new jobs. This is a negative factor and futures for US stock indices are now declining. Industrial orders data and the ISM Non-Manufacturing PMI are also due today. In addition, the quarterly reports of Qualcomm, CVS Health and other American companies will be released.

Commodity Market news​

Commodities	Change
WTI Crude	-1.62%
Brent Crude Oil	-1.42%
COPPER	+1.41%
Natural Gas Prices	+0.58%

Today world oil prices have been declining for the second day in a row. The independent American Petroleum Institute announced an increase in US oil reserves for the week by 3.6 million barrels. The growth of stocks has been happening for the 6th week in a row. In addition, US President Joe Biden at the climate summit in Glasgow (UN climate change conference) accused OPEC + of unwillingness to increase oil supplies to the world market, which leads to higher prices. Recall that the next OPEC + meeting will be held tomorrow, November 4. Some investors do not exclude that oil-producing countries may slightly increase the monthly limit for the increase in production of 400 thousand barrels per day at the beginning of next year. Wheat rises in price against the background of forecasts of a decrease in its harvest in the United States, as well as in European countries - France, Romania and Hungary. In general, quotes for all grain and soybeans may rise due to higher world prices for fertilizers and fuel for agricultural machinery.

Gold Market News​

Metals	Change
Gold	-0.46%
Silver/US Dollar	+0.04%

Gold is falling in price today for the second day in a row on the back of the strengthening of the US dollar. Investors expect a tightening of the Fed's monetary policy at today's meeting. The quotes of precious metals are supported by an unexpected decrease in the yield on the 10-year US Treasury to 1.53% per annum from 1.7% per annum 2 weeks ago. The climate summit in Glasgow could have a positive impact on silver, palladium and platinum, which are used in hydrogen and renewable energy and as catalysts for cars.

 

[IFC Markets]

Markets advance despite Fed move to start tapering - 4.11.2021​

Todays’ Market Summary​

• The Dollar strengthening has resumed currently
• The US stock index futures are steady currently
• Brent is inching down currently after news Iran and world powers agreed to resume nuclear talks this month that could lead to the removal of US sanctions on Iranian oil, increasing global supplies.
• Gold prices are edging higher

Top daily news​

Stock index futures are mostly gaining currently after Fed announced Wednesday it would cut its bond buying by $15 billion a week from this month, while leaving open the option to quicken or slow the pace as needed. Microsoft added 0.26% after announcing that users of its Teams collaboration software would be able to appear as avatars in the first half of next year in video meetings, Facebook shares gained 1.08% outperforming market as the social network giant said it plans to stop using facial-recognition software that could automatically recognize people in photos and videos posted on the social network.

Forex news​

Currency Pair	Change
EUR USD	-0.4%
GBP USD	-0.2%
USD JPY	+0.2%
AUD USD	-0.9%

The Dollar strengthening has resumed currently ahead of the US Labor Department report at 13:30 CET expected to show 273 thousand Americans sought unemployment benefits over the last week, down from 281 thousand the previous week. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.3% Wednesday.

Both EUR/USD and GBP/USD reversed their sliding on Wednesday as Eurostat reported euro zone unemployment fell to 7.4% in September from 7.5% in August, in line with expectations. Both pairs are lower currently. Both USD/JPY and AUD/USD resumed their climbing Wednesday with both the Australian dollar and yen lower against the Greenback currently.

Stock Market news​

Indices	Change
Dow Jones Index	+0.07%
Nikkei Index	+1.5%
Hang Seng Index	+0.15%
Australian Stock Index	+0.35%

The US stock index futures are steady currently after all three major indices ended at fresh all-time highs for the fourth straight day Wednesday. The three main US stock indexes booked gains ranging from 0.3% to 1% as strong readings on Institute for Supply Management Services PMI and data payroll service firm ADP private businesses employment underpinned investor confidence.

European stock indexes are mixed currently after ending up Wednesday led by mining shares. Investors will be watching closely the Bank of England policy decision at 13:00 CET today which may kick off a rate hike cycle though general expectations are the bank will stand pat. Asian stock indexes are mostly rising today with Nikkei leading gainers.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-1.1%
WTI Crude	-0.8%

Brent is inching down currently after news Iran and world powers agreed to resume nuclear talks this month that could lead to the removal of US sanctions on Iranian oil, increasing global supplies. Prices ended down Wednesday after the US Energy Information Administration reported domestic crude stockpile rose by bigger than expected 3.3 million barrels last week. The OPEC+ is meeting later today where the issue of the volume of production expansion is to be discussed. However, analysts say signs are the group will stick with its current plans. The US oil benchmark West Texas Intermediate (WTI) futures lost 3.6% and is lower currently. Brent crude declined 3.2% to $81.99 a barrel on Wednesday.

Gold Market News​

Metals	Change
Gold	+0.03%

Gold prices are edging higher currently. December gold fell 1.4% to $1763.90 an ounce on Wednesday, lowest settlement in about three weeks.

 

[IFC Markets]

Stocks advance pauses as China markets tumble - 5.11.2021​

Todays’ Market Summary​

• The Dollar strengthening has stalled currently
• Futures on three main US stock indexes are down
• Brent is edging lower currently.
• Gold prices are extending gains today

Top daily news​

Equity index futures are mostly in red currently ahead of US Non-Farm Employment Change report at 13:30 CET after Wall Street set new records Thursday. Facebook shares gained 1.28% outperforming market despite new antitrust lawsuit by the now defunct photo start-up Phhhoto accusing the social network of stalling on a deal and then putting it out of business, Apple shares lost 0.35% on Thursday.

Forex news​

Currency Pair	Change
EUR USD	+0.04%
GBP USD	+0.14%
USD JPY	-0.01%
AUD USD	-0.18%

The Dollar strengthening has stalled currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, surged 0.6% Thursday after the US Labor Department report 269 thousand Americans sought unemployment benefits over the last week, down from 283 thousand the previous week.

Both GBP/USD and EUR/USD reversed their climbing Thursday as the Bank of England held interest rates steady despite investors’ expectations that it would become the first major central bank to hike rates following the pandemic. Both euro and Pound are higher against the Dollar currently. Both USD/JPY and AUD/USD reversed their climbing yesterday with the Australian dollar lower against Greenback currently and yen higher.

​

Stock Market news​

Indices	Change
Dow Jones Index	-0.11%
Nikkei Index	-1%
Hang Seng Index	-1.5%
Australian Stock Index	+0.13%

Futures on three main US stock indexes are down currently with US 10-year Treasury note yields up at 1.540% after Fed chair Powell on Wednesday said the Fed can be patient on hikes. The three main US stock benchmarks ended mixed Thursday after strong labor data while the central bank said Wednesday it will begin to curb the pace of its monthly bond-buying program by $15 billion per month “later this month” - initial jobless claims for last week were below forecasts. Indexes recorded daily returns in the range of -0.1% to 0.8% with SP500 and Nasdaq booking new all-time records while Dow slipped.

European stock indexes are higher currently after closing up Thursday led by tech shares. Asian indexes are in red today with Hong Kong’s Hang Seng leading losses as developer Kaisa Group Holdings Ltd. and its Hong Kong-listed units were suspended from trading after the company said a subsidiary had missed a payment on a wealth management product.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.35%
WTI Crude	-0.04%

Brent is edging lower currently. Prices ended lower yesterday after a report that Saudi Arabia's oil output will soon surpass 10 million barrels per day (bpd) for the first time since the outset of the COVID-19 pandemic. The support for oil prices from the decision of OPEC and its allies at a Thursday meeting to stick to plans to raise oil output by 400,000 bpd from December despite calls from the United States limited the losses however. The US oil benchmark West Texas Intermediate (WTI) ended down 2.5% and is lower currently. Brent crude lost 1.8% to $80.54 a barrel on Thursday.

Gold Market News​

Metals	Change
Gold	+0.19%

Gold prices are extending gains today. December gold jumped 1.7% to $1,793.50 an ounce on Thursday.

 

[IFC Markets]

Global equities mixed after strong US jobs report - 8.11.2021​

Todays’ Market Summary​

• The Dollar strengthening has resumed currently.
• Futures on US equity benchmarks are down currently
• Brent is advancing currently after Saudi Arabia’s state owned Saudi Aramco raised its official selling price of crude to all buyers across the globe.
• Gold prices are edging down

Top daily news​

Markets are moving in different directions currently after Wall Street closed at records Friday buoyed by strong October jobs report. Apple shares gained 0.36% as the Apple Silicon roadmap revealed the 3nm Mac and iPhone chips are coming as soon as 2023 ahead of Intel, Amazon shares rose 1.21% Friday outperforming market.

Forex news​

Currency Pair	Change
EUR USD	-0.07%
GBP USD	-0.09%
USD JPY	+0.11%
AUD USD	-0.32%

The Dollar strengthening has resumed currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.8% on Friday despite Bureau of Labor Statistics data showing the US added 531,000 non-farm jobs to the economy in October after creation of 312,000 new jobs in September when addition of 455,000 new jobs was forecast.

EUR/USD reversed its sliding Friday while GBP/USD continued retreating despite the German statistics department Destatis report the German industrial production dropped unexpectedly in September. Both euro and Pound are lower against the Dollar currently. Both USD/JPY and AUD/USD continued sliding Friday with both the Australian dollar and yen lower against the Greenback currently.

Stock Market news​

Indices	Change
Dow Jones Index	-0.04%
Nikkei Index	-0.77%
Hang Seng Index	-0.13%
Australian Stock Index	-0.07%

Futures on US equity benchmarks are down currently ahead of Fed Vice Chair Richard Clarida's talk on Fed and European Central Bank policy at 15:00 CET today. The Wall Street closed at records Friday following strong US payrolls report showing the unemployment rate ticked down to 4.6%: the three main US stock benchmarks recorded daily gains ranging from 0.2% to 0.6%.

European stock indexes are up currently after ending marginally higher on Friday with tech shares leading gains. Asian indexes are mixed today with Shanghai Composite Index after after weekend data showed China’s exports beat forecasts in October to deliver a record trade surplus.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.33%
WTI Crude	+0.17%

Brent is advancing currently after Saudi Arabia’s state owned Saudi Aramco raised its official selling price of crude to all buyers across the globe. Prices rose on Friday after Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, agreed on Thursday to stick to their plan to raise oil output by 400,000 barrels per day from December despite a US call to accelerate output increases. West Texas Intermediate (WTI) futures jumped 3.1% and is higher currently. Brent crude rose 2.7% to $82.74 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	-0.13%

Gold prices are edging down today. December gold advanced 1.3% settling at $1816.80 an ounce on Friday – logging the highest finish since early September and an 1.8% gain for the week.

 

[IFC Markets]

Markets trade mixed after Wall Street sets more records - 9.11.2021​

Todays’ Market Summary​

• The Dollar weakening has not ceased currently
• Futures on three main US stock indexes are down currently
• Brent is edging lower currently ahead of data from the American Petroleum Institute later today.
• Gold prices are rising currently

Top daily news​

Equity index futures are mixed currently after Wall Street edged higher to fresh records Monday buoyed by passage of a United States infrastructure spending bill. Tesla shares dropped 4.9% after Elon Musk tweeted on Saturday that he would sell 10 per cent of his stake if users of the social media network approved, Facebook shares slid 0.74% on Monday underperforming market while the founder of a Chicago-based tech firm called Meta Company stated his company is going to court against Facebook alleging the social network stole its name and "livelihood" after it rebranded its name to Meta.

Forex news​

Currency Pair	Change
EUR USD	+0.01%
GBP USD	+0.01%
USD JPY	-0.24%
AUD USD	-0.05%

The Dollar weakening has not ceased currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.2% on Monday as Federal Reserve officials on Monday expressed their concerns about possibility of more persistent inflation than previously expected but were divided on the timing of a rate increase.

GBP/USD joined EUR/USD’s continued advancing Monday as Sentix reported euro zone investors sentiment improved in November. Both euro and Pound are higher against the Dollar currently. USD/JPY continued retreating while AUD/USD reversed its sliding Monday. Both the Australian dollar and yen are higher against the Greenback currently.

Stock Market news​

Indices	Change
Dow Jones Index	-0.17%
Nikkei Index	-0.18%
Hang Seng Index	+0.12%
Australian Stock Index	0.02%

Futures on three main US stock indexes are down currently ahead of US producer prices report at 14:30 CET today. Stocks edged higher Monday and the three major Wall Street stock benchmarks notched fresh records, booking daily gains in the range of 0.1% to 0.3% that were limited by slumping Tesla shares.

European stock indexes are down currently after ending higher Monday led by basic resources shares. Asian indexes are mixed today with Nikkei leading losses despite report Japan's service sector sentiment index in October rose to its highest level in nearly eight years.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.02%
WTI Crude	-0.05%

Brent is edging lower currently ahead of data from the American Petroleum Institute later today. Prices closed higher Monday after data showed over the weekend China’s export growth beat forecasts albeit slowed in October. US West Texas Intermediate WTI rose 0.84% but is lower currently. Brent gained 0.83% to $83.44 a barrel on Monday.

Gold Market News​

Metals	Change
Gold	-0.1%

Gold prices are rising currently. December gold added 0.6% to $1828 an ounce on Monday, the highest closing since early September.

 

[IFC Markets]

Stocks advance persists as inflation fears subside - 12.11.2021​

Todays’ Market Summary​

• The Dollar strengthening persists currently
• Futures on three main US stock indexes are up
• Brent is edging lower currently.
• Gold prices are extending gains today

Top daily news​

Equity index futures are mostly rising currently ahead of University of Michigan Consumer Sentiment report at 16:00 CET after Wall Street ended mixed on Thursday. Microsoft shares gained 0.49% outperforming market after Microsoft and Facebook, which changed its name into Meta recently, announced a partnership to integrate Workplace and Teams, Apple shares slipped 0.03% on Thursday.

Forex news​

Currency Pair	Change
EUR USD	-0.05%
GBP USD	-0.1%
USD JPY	+0.01%
AUD CAD	+0.03%

The Dollar strengthening persists currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.3% Thursday.

Both GBP/USD and EUR/USD slowed their sliding Thursday as the Office for National Statistics reported Q3 UK GDP grew 1.3% over quarter after 5.5% growth in Q2. Both euro and Pound are lower against the Dollar currently. USD/JPY continued climbing yesterday while AUD/USD continued sliding with the Australian dollar higher against Greenback currently and yen lower.

Stock Market news​

Indices	Change
Dow Jones Index	+0.15%
Nikkei Index	+0.95%
Hang Seng Index	+0.73%
Australian Stock Index	+0.14%

Futures on three main US stock indexes are up currently with US 10-year Treasury note yields up at 1.568% ahead of the US bond market reopening following the Veterans Day holiday. The three main US stock benchmarks ended mixed Thursday after data showing inflation hitting a 30-year high last month caused indexes to fall Wednesday. Indexes recorded daily returns in the range of -0.4% to 0.5% with Nasdaq recouping losses suffered in the prior session.

European stock indexes are higher currently after closing up Thursday led by mining shares. Asian indexes are advancing today led by Nikkei underpinned by bargain hunting for tech shares.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.55%
WTI Crude	-0.08%

Brent is edging lower currently. Prices ended lower yesterday after president Biden said following higher inflation report Wednesday he asked the National Economic Council to work to reduce energy costs and the Federal Trade Commission to push back on market manipulation in the energy. The US oil benchmark West Texas Intermediate (WTI) ended down 3.3% and is lower currently. Brent crude lost 2.5% to $82.64 a barrel on Thursday

Gold Market News​

Metals	Change
Gold	-0.39%

Gold prices are extending gains today. December gold advanced 0.8% to $1,863.90 an ounce on Thursday, posting the sixth straight rise and highest settlement since June.

 

[IFC Markets]

Equities mixed after Wall Street ends higher despite consumer sentiment miss - 15.11.2021​

Todays’ Market Summary​

• The Dollar weakening is intact currently.
• Futures on US equity benchmarks are mixed
• Brent is extending losses currently amid reports that President Biden's administration might release oil from the US Strategic Petroleum Reserve to cool prices.
• Gold prices are edging down

Top daily news​

Global stocks are moving in different directions currently after Wall Street advance Friday despite surprise deterioration in consumer sentiment as evidenced by University of Michigan report. Tesla shares dropped 2.81% Friday underperforming market as Elon Musk sold another block of company shares worth about $700 million, Microsoft shares gained 1.29% as Kyndryl, the recent IBM spin-off of its managed infrastructure services, declared Microsoft its only “premier global alliance partner” to bring to market new Microsoft Cloud solutions.

Forex news​

Currency Pair	Change
EUR USD	+0.04%
GBP USD	+0.4%
USD JPY	-0.02%
AUD USD	-0.08%

The Dollar weakening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.08% on Friday after University of Michigan report showing Consumer Sentiment index fell to 66.8 for November from 71.7 in October when an increase to 72.5 was forecast.

GBP/USD reversed its sliding Friday while EUR/USD continued retreating despite the euro area statistics office Eurostat report euro zone’s industrial production decline slowed more than forecast in September. Both euro and Pound are higher against the Dollar currently. USD/JPY reversed its advancing while AUD/USD reversed its sliding Friday with both the Australian dollar lower against the Greenback currently and yen higher.

Stock Market news​

Indices	Change
Dow Jones Index	-0.13%
Nikkei Index	+0.22%
Hang Seng Index	-0.18%
Australian Stock Index	+0.03%

Futures on US equity benchmarks are mixed ahead of Empire State Manufacturing Index report at 14:30 CET today. The Wall Street closed solidly higher Friday following unexpectedly weak University of Michigan preliminary report US consumer sentiment fell to a 10-year low amid concerns about growing inflation: the three main US stock benchmarks recorded daily gains ranging from 0.5% to 0.8%.

European stock indexes are mixed currently after ending marginally higher on Friday led by consumer goods shares. Asian indexes are mixed today with NIKKEI leading gains despite data showing Japan's Gross Domestic Product shrank by more than expected in the third quarter.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.41%
WTI Crude	-0.37%

Brent is extending losses currently amid reports that President Biden's administration might release oil from the US Strategic Petroleum Reserve to cool prices. Prices retreated on Friday. The decline was cushioned somewhat by Russia's Rosneft warning on Friday of a potential "super cycle" in global energy markets which could lead to even higher prices as demand outstrips supply. West Texas Intermediate (WTI) futures lost 1% and is lower currently. Brent crude slid 0.8% to $82.17 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	-0.34%

Gold prices are edging down today. December gold advanced 0.3% settling at $1868.50 an ounce on Friday – logging the highest finish since May and a 2.9% gain for the week.

 

[IFC Markets]

Global equities trade mixed after mixed US data - 18.11.2021​

Todays’ Market Summary​

• The Dollar weakening is intact currently
• The US stock index futures are rising currently
• Brent is down currently after reports United States has asked some of the world’s largest oil consuming nations including China, India and Japan to consider releasing crude stockpiles.
• Gold prices are edging higher

Top daily news​

Stock index futures are pointing in different directions currently after US stocks retreated Wednesday following reports showing building permits rose but housing starts fell in October. Amazon shares added 0.23% while the company announced it would stop taking payments from Visa credit cards issued in the UK, citing the high cost imposed by the card company, Apple shares gained 1.65% Wednesday outperforming market as the tech giant said it will start selling parts so that customers can fix their own iPhones or Macs.

Forex news​

Currency Pair	Change
EUR USD	+0.11%
GBP USD	+0.12%
USD JPY	-0.09%
AUD USD	+0.3%

The Dollar weakening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.1% Wednesday as Census Bureau reported housing starts fell more than expected while building permits grew stronger than forecast.

GBP/USD accelerated its climbing on Wednesday while EUR/USD continued sliding as UK consumer price index (CPI) inflation came in at an annual 4.2% in October, its highest for almost a decade. Both pairs are higher currently. USD/JPY joined AUD/USD’s continued declining Wednesday with both the Australian dollar and yen higher against the Greenback currently.

Stock Market news​

Indices	Change
Dow Jones Index	+0.07%
Nikkei Index	-0.01%
Hang Seng Index	-1.5%
Australian Stock Index	+0.3%

The US stock index futures are rising currently after all three major indices ended lower Wednesday despite good earnings reports from retailers. The three main US stock indexes booked losses ranging from 0.3% to 0.6%.

European stock indexes are mixed currently after ending mixed Wednesday as the European Central Bank warned of overvaluations in property and financial markets. Asian stock indexes are mostly falling today with Hang Seng leading losses dragged by tech stocks.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.63%
WTI Crude	-1%

Brent is down currently after reports United States has asked some of the world’s largest oil consuming nations including China, India and Japan to consider releasing crude stockpiles. Prices ended down Wednesday despite the US Energy Information Administration report domestic crude stockpile fell unexpectedly by 2.1 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures dropped 3% and is lower currently. Brent crude declined 1.7% to $81.05 a barrel on Wednesday.

Gold Market News​

Metals	Change
Gold	+0.02%

Gold prices are edging higher currently. December gold climbed 0.9% to $1870.20 an ounce on Wednesday, the highest close since June.

 

[IFC Markets]

Equities mixed after Nasdaq ends at record as Dow retreats - 22.11.2021​

Todays’ Market Summary​

• The Dollar strengthening is intact currently.
• Futures on US equity benchmarks are higher
• Brent is inching higher currently amid reports after Japan said it was weighing releasing oil reserves.
• Gold prices are edging down

Top daily news​

Global stocks are moving in different directions currently after Wall Street closed mixed Friday. Apple shares rose 1.7% Friday outperforming market, Microsoft shares added 0.54% as Pentagon asked Amazon, Google, Microsoft and Oracle for bids on new cloud contracts after the Pentagon scrapped its plans for a single-vendor cloud contract for Microsoft worth up to $10 billion over a decade.

Forex news​

Currency Pair	Change
EUR USD	+0.25%
GBP USD	-0.12%
USD JPY	-0.17%

The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.5% on Friday.

Both GBP/USD and EUR/USD reversed their climbing Friday despite the European Central Bank report euro zone’s current account surplus grew in September when a decline was expected. Both euro and Pound are lower against the Dollar currently. AUD/USD reversed its advancing while USD/JPY continued climbing Friday with the yen lower against the Greenback currently and the Australian dollar higher.

Stock Market news​

Indices	Change
Dow Jones Index	+0.14%
Nikkei Index	+0.49%
Hang Seng Index	-0.28%
Australian Stock Index	-0.15%

Futures on US equity benchmarks are higher currently with 10-year US treasury yields up at 1.562%. The Wall Street closed mixed Friday as investors largely shrugged off House passage of Biden's US$1.75 trillion social spending bill: the three main US stock benchmarks recorded daily returns ranging from -0.8% to +0.4%.

European stock indexes are up currently despite concerns over tightening restrictive measures after Austria into a full lockdown starting today. Indexes ended lower on Friday led by bank shares. Asian indexes are mixed today with Shanghai Composite Index leading gains as the People’s Bank of China kept its one-year loan prime rate unchanged at 3.85% earlier in the day.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.6%
WTI Crude	+0.57%

Brent is inching higher currently amid reports after Japan said it was weighing releasing oil reserves. Prices retreated on Friday as White House pressed the OPEC producer group again to maintain adequate global supply. West Texas Intermediate (WTI) futures plunged 3.6% but is higher currently. Brent crude lost 2.9% to $78.89 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	-0.22%

Gold prices are edging down today. December gold slid 0.5% settling at $1851.60 an ounce on Friday – logging the lowest finish since mid-November and a 0.9% loss for the week.

 

[IFC Markets]

Markets slip following Wall Street’s mixed closing after Powell's re-nomination - 23.11.2021​

Todays’ Market Summary​

• The Dollar strengthening continues currently
• Futures on three main US stock indexes are down
• Brent is edging lower currently ahead of data from the American Petroleum Institute later today.
• Gold prices are rising currently

Top daily news​

Equity index futures are mostly down currently after Wall Street ended mixed Monday after President Biden picked Federal Reserve Chair Jerome Powell to lead the central bank for a second term. Facebook lost 1.24% underperforming market amid news owner of Facebook and Instagram is delaying plans to encrypt users’ messages until 2023, Tesla shares rose 1.74% on Monday as Elon Musk replies to Tesla owner's Twitter complaint in 3 minutes.

Forex news​

Currency Pair	Change
EUR USD	-0.07%
GBP USD	-0.1%
USD JPY	+0.07%
AUD USD	-0.09%

The Dollar strengthening continues currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.5% on Monday as futures contracts tied to the Fed's policy interest rate indicated that money markets are now expecting the United States central bank to raise interest rates by 25 basis points by next June versus a previous estimate of July.

Both GBP/USD and EUR/USD kept retreating Monday as EuroStat reported consumer sentiment deteriorated in euro zone in November. Both euro and Pound are lower against the Dollar currently. USD/JPY reversed its sliding while AUD/USD continued retreating Monday with both the Australian dollar and yen lower against the Greenback currently.

Stock Market news​

Indices	Change
Dow Jones Index	-0.43%
GB 100 Index	-0.05%
Hang Seng Index	-0.09%
Australian Stock Index	+0.03%

Futures on three main US stock indexes are down currently ahead of the flash US manufacturing PMI report at 15:45 CET today. SP500 and Nasdaq fell Monday while bank stocks, which benefit from higher bond yields, rose 2%: the stock index benchmarks booked daily returns in the range of -1.26% to +0.05%.

European stock indexes are down currently after ending mixed Monday with travel and leisure shares leading losses after Germany and Austria re-imposed strict lockdown measures last week. Asian indexes are mixed today with Japanese markets closed for a public holiday. Shanghai Composite is up buoyed by real estate shares amid reports Chinese banks were instructed to issue more loans for real estate projects.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.26%
WTI Crude	-0.43%

Brent is edging lower currently ahead of data from the American Petroleum Institute later today. Prices closed up Monday supported by Bloomberg report that OPEC+ may alter plans to keep boosting production. The group of major producers agreed this month to stick to plans to raise oil output by 400,000 barrels per day (bpd) from December. Earlier Reuters reported Japanese and Indian officials are working on ways to release national reserves of crude oil together with the United States to dampen prices. US West Texas Intermediate WTI gained 1% but is lower currently. Brent rose 1% to $79.70 a barrel on Monday.

Gold Market News​

Metals	Change
Gold	+0.05%

Gold prices are rising currently. December gold dropped 2.4% to $1806.30 an ounce on Monday, the sharpest daily drop since August.

 

[IFC Markets]

Markets drop ahead of Wall Street reopening - 26.11.2021​

Todays’ Market Summary​

• The Dollar weakening is intact
• Futures on three main US stock indexes are down
• Brent is extending losses.
• Gold prices are gaining

Top daily news​

Equity index futures are down sharply currently ahead of US market reopening after Thanksgiving holiday. Apple said Thursday its digital ID program like digital driver’s license and ID function that lets you scan your documents and have them on your Wallet app at all times is delayed for early 2022, France delisted US online marketplace Wish ahead of Black Friday over unsafe products.

Forex news​

Currency Pair	Change
EUR USD	+0.3%
GBP USD	-0.18%
USD JPY	-0.98%
AUD USD	-0.92%

The Dollar weakening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.1% Thursday.

GBP/USD continued retreating yesterday while EUR/USD reversed its sliding despite Germany’s Q3 GDP downgrade. Euro is higher against the Dollar currently while Pound is lower still. USD/JPY joined AUD/USD’s continued sliding yesterday with the Australian dollar sharply lower against Greenback currently and yen higher.

Stock Market news​

Indices	Change
Dow Jones Index	-1.5%
Nikkei Index	-2.68%
Hang Seng Index	2.78%
Australian Stock Index	-2.4%

Futures on three main US stock indexes are down currently with US 10-year Treasury note yields down at 1.562%. US stock market was closed Thursday for Thanksgiving holiday. The three main US stock benchmarks ended mixed Wednesday after data showing jobless claims totaled 199,000 for the last week, down from 270,000 a week ago and below expectations. Indexes recorded daily returns in the range of -0.03% to +0.44%.

European stock indexes are lower currently after closing up Thursday led by utilities shares. Asian indexes are sharply down today led by Hong Kong’s Hang Seng dragged by casino and beverage shares after the detection of a new and possibly vaccine-resistant coronavirus in Hong Kong.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-3.2%
WTI Crude	-4.4%

Brent is extending losses. Prices ended lower in thin trading yesterday amid reports OPEC expected the US release of 50 million barrels of crude from its reserves would swell a surplus in oil markets by 1.1 million barrels per day. The US oil benchmark West Texas Intermediate (WTI) ended down 0.5% and is lower currently. Brent crude slipped 0.1% to $82.17 a barrel on Thursday.

Gold Market News​

Metals	Change
Gold	+1.02%

Gold prices are gaining today. Spot gold added 5 cents closing at $1788.50 Thursday.

 

[IFC Markets]

Equities mixed after rout on new Covid-19 variant scare - 29.11.2021​

Todays’ Market Summary​

• The Dollar weakening has halted
• Futures on US equity benchmarks are rebounding
• Brent is recovering currently amid reports the OPEC producer group may pause output increases.
• Gold prices are edging up

Top daily news​

Global stocks are moving in different directions currently as Wall Street closed sharply lower Friday after South Africa announced the discovery of the B.1.1.529 variant of the virus on Thursday. Microsoft shares lost 2.44% amid reports Microsoft CEO Satya Nadella sold about 838.6 thousand shares – over half his Microsoft stock between November 22 and November 23, Tesla shares dropped 3.05% Friday underperforming market after news the EV maker withdrew its application for $1.3 billion in state subsidies support for the construction of a planned battery plant near Berlin, Germany.

Forex news​

Currency Pair	Change
EUR USD	-0.33%
GBP USD	-0.05%
USD JPY	+0.08%
AUD USD	+0.42%

The Dollar weakening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.5% on Friday.

GBP/USD joined EUR/USD’s continued climbing Friday as the federal statistics agency Destatis reported the import prices index in Germany accelerated its increase in October when a decline was expected. Both euro and Pound are lower against the Dollar currently. Both AUD/USD and USD/JPY accelerated their retreating Friday with the Australian dollar higher against the Greenback currently and yen lower.

Stock Market news​

Indices	Change
Dow Jones Index	+0.1%
Nikkei Index	-0.24%
Hang Seng Index	-0.39%
Australian Stock Index	-0.37%

Futures on US equity benchmarks are rebounding currently with 10-year US treasury yields up at 1.534%. The Wall Street tumbled Friday as investors sold off in shorter than normal session. Dow registered its worst loss of the year: the three main US stock benchmarks recorded daily losses ranging from 2.3% to 2.5%.

European stock indexes are up currently as concerns over tightening restrictive measures after new coronavirus variant emergence subside. Indexes plunged on Friday led by travel and leisure shares. Asian indexes are mostly down today with NIKKEI leading losses as Japan moved to bar entry of foreigners to head off the new strain named Omicron.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.5%
WTI Crude	+0.4%

Brent is recovering currently amid reports the OPEC producer group may pause output increases. OPEC+ announced it is moving two technical meetings to later this week after oil’s rout last Friday. Prices sank on Friday concerns the new virus variant could dampen fuel demand as it hurts global growth. West Texas Intermediate (WTI) futures plunged 13.1% but is higher currently. Brent crude dropped 11.6% to $72.72 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	+0.19%

Gold prices are edging up today. December gold slipped less than 0.1% settling at $1785.50 an ounce on Friday – logging a 3.6% loss for the week.

 

[IFC Markets]

Important economic indicators are due in the US today, including the ADP labor market review - 1.12.2021​

Todays’ Market Summary​

• The US dollar index declined on Tuesday amid the spread of the new variant of the Omicron coronavirus.
• American stock indices dropped yesterday.
• Oil of course fell yesterday amid the emergence of a new variant of the Omicron coronavirus.
• Gold on Tuesday fell in price for the 4th day in a row and renewed its 4-week low.

Top daily news​

On Tuesday, the US dollar index, stocks and oil prices fell amid the spread of the new variant of the Omicron coronavirus. Pharmaceutical company Moderna Inc. stated that current vaccines may not be effective. This has raised concerns among investors. Later, the US dollar won back some of the losses thanks to Fed Chair Jerome Powell's words that monetary tightening could accelerate despite the risks of another wave of the Covid-19 epidemic.

Forex news​

Currency Pair	Change
EUR USD	-0.13%
GBP USD	+0.16%
USD JPY	+0.24%

The US dollar index declined on Tuesday amid the spread of the new variant of the Omicron coronavirus. Pharmaceutical company Moderna Inc. stated that current vaccines may not be effective. This has raised concerns among investors. Later, the US dollar won back some of the losses thanks to Fed Chair Jerome Powell's words that monetary tightening could accelerate despite the risks of another wave of the Covid-19 epidemic. Remember that in November, the Fed decided to monthly reduce the volume of monetary emission directed to the purchase of assets (Quantitative Easing, QE) by $ 15 billion. The total volume of this program was initially equal to $ 120 billion per month. Investors do not rule out that the Fed may increase the monthly asset tapering at its next meeting on December 15, 2021. The euro strengthened as German unemployment dropped to 5.3% in November, the lowest since March 2020. The strong growth of inflation in the Eurozone in November of 4.9% in annual terms also contributed to the strengthening of the euro. This increases the likelihood of a tightening of monetary policy by the ECB. Inflation in Germany in November peaked since 1992 at 5.2%. Bitcoin quotes have remained stable as the decline in global hydrocarbon prices may support cryptocurrency mining.

Stock Market news​

Indices	Change
Dow Jones Index	-1.86%
S&P 500	-1.9%
Nasdaq 100	-1.55%

American stock indices dropped yesterday. Fed Chairman Jerome Powell announced plans to curtail monetary stimulus to the American economy despite the risks of a new global wave of the coronavirus epidemic due to the emergence of the Omicron strain. In addition, weak economic indicators of consumer and producer activity came out in the US: CB Consumer Confidence and Chicago PMI. Shares of pharmaceutical companies Moderna (-4.4%) and Regeneron (-2.7%) fell in price amid doubts by their representatives about the effectiveness of vaccines and drugs for the new variant of the Omicron coronavirus. In contrast, Pfizer said its vaccine could be effective. This led to an increase in the quotations of this company by 2.5%. Important labor market data for November ADP Employment Change from the independent agency ADP is due in the US today. They may clarify the forecast of the official report on the labor market United States Nonfarm Payrolls, which will be released on Friday. In addition, Markit Manufacturing PMI Final, ISM Manufacturing PMI, Construction Spending and US Fed Beige Book will be published in the US today. Preliminary forecasts are positive and now futures for US stock indexes are on the rise.

Commodity Market news​

Commodities	Change
WTI Crude	+3.25%
Brent Crude Oil	+3.58%
Natural Gas Prices	-3.11%
COPPER	+1.04%

Oil of course fell yesterday amid the emergence of a new variant of the Omicron coronavirus. Investors remember that last year's Covid-19 epidemic caused a global lockdown. Because of this, the volume of passenger and freight traffic has sharply decreased and, as a result, the demand for fuel. In April 2020, the price of Brent fell below $ 16 per barrel. However, today oil quotes have won back some of the losses. Investors are looking forward to the next OPEC + meeting, which will take place on December 2, 2021. They fear that against the backdrop of a collapse in oil prices, the cartel may suspend the planned increase in production by 400 thousand barrels per day from January 1, 2022. An additional positive was the message of the independent American Petroleum Institute on the decline in oil reserves in the United States for the week by 747 thousand barrels.

Gold Market News​

Metals	Change
Gold	+0.57%
Silver/US Dollar	+0.61%

Gold on Tuesday fell in price for the 4th day in a row and renewed its 4-week low. The main reason for this was the expectations of investors that the Fed will soon tighten its monetary policy. However, today gold is getting more expensive thanks to yesterday's unexpected drop in the yield of the United States 10-Year Bond to a minimum since September last year of 1.412% per annum. The risks of a new coronavirus epidemic also positively affect the quotes of precious metals.