Global bourses edged higher today as investors focus on Mario Draghi giving his very last press conference later in the afternoon. It will be important to see if the ECB will have any urge in implementing dovish measures or push it down the road for a little bit until the new President Lagarde takes over.
Earnings Call
US earnings came in decent yesterday with the DowJones not being able to print ATH level like the Nasdaq and the S&P500 also because Boeing, as expected, is struggling because of the major problems of the 737 Max airplane model earlier this year. Stock markets continue to be in positive expectation about next week's meetings in Shanghai, where it is now said the Chinese president Xi might join and also follow up talks that will take place shortly thereafter in the US. Investors will gear up for another busy day of earnings with key players like Amazon, Starbucks, 3M, Intel, American Airlines, Alphabet C, MGM, Volkswagen, Expedia, Telefonica and Michelin reporting today.
Borris Presents Hard-Brexiters Cabinet
In the UK meanwhile, Boris Johnson presented a very hardliner-Brexit cabinet which sparked a little buying in the GBP yesterday but failed on the 1.25 handle and we could be in for further downside now given uncertainty about the UK's immediate future outlook. The EUR/USD wallowed near a two-month low this morning, dropping on negative EZ PMIs and is now awaiting Draghi’s finale. A stronger dollar also kept the common currency subdued. The U.S. dollar hovered near multi-week highs, while some investors are locking in profits ahead of major central bank meetings this month. Elsewhere, the Australian dollar under pressure after a statement from the RBA that further easing seems to be ahead.
Oil Prices Edge Higher, Gold Steady
Oil prices edged higher today amid lingering Middle East tensions but not before dropping on news that Saudi Arabia and Kuwait are planning to add to the oil supply from the neutral zone with a 500k bpd. Elsewhere, a strong dollar kept gold prices in check with XAU/USD last seen trading flat around the $1425 which is still quite robust. Spot gold will now be awaiting new catalysts that could give room for further gains.
Bitcoin Recovers
Bitcoin is on the defensive for a fifth straight day, after having breached long-term support. BTC has managed to recover to the 10k handle and is currently struggling to break it upwards which is necessary to remove the immediate selling pressure.
Watch the video here:
Earnings Call
US earnings came in decent yesterday with the DowJones not being able to print ATH level like the Nasdaq and the S&P500 also because Boeing, as expected, is struggling because of the major problems of the 737 Max airplane model earlier this year. Stock markets continue to be in positive expectation about next week's meetings in Shanghai, where it is now said the Chinese president Xi might join and also follow up talks that will take place shortly thereafter in the US. Investors will gear up for another busy day of earnings with key players like Amazon, Starbucks, 3M, Intel, American Airlines, Alphabet C, MGM, Volkswagen, Expedia, Telefonica and Michelin reporting today.
Borris Presents Hard-Brexiters Cabinet
In the UK meanwhile, Boris Johnson presented a very hardliner-Brexit cabinet which sparked a little buying in the GBP yesterday but failed on the 1.25 handle and we could be in for further downside now given uncertainty about the UK's immediate future outlook. The EUR/USD wallowed near a two-month low this morning, dropping on negative EZ PMIs and is now awaiting Draghi’s finale. A stronger dollar also kept the common currency subdued. The U.S. dollar hovered near multi-week highs, while some investors are locking in profits ahead of major central bank meetings this month. Elsewhere, the Australian dollar under pressure after a statement from the RBA that further easing seems to be ahead.
Oil Prices Edge Higher, Gold Steady
Oil prices edged higher today amid lingering Middle East tensions but not before dropping on news that Saudi Arabia and Kuwait are planning to add to the oil supply from the neutral zone with a 500k bpd. Elsewhere, a strong dollar kept gold prices in check with XAU/USD last seen trading flat around the $1425 which is still quite robust. Spot gold will now be awaiting new catalysts that could give room for further gains.
Bitcoin Recovers
Bitcoin is on the defensive for a fifth straight day, after having breached long-term support. BTC has managed to recover to the 10k handle and is currently struggling to break it upwards which is necessary to remove the immediate selling pressure.
Watch the video here:
