Stocks making the biggest moves midday: Tesla, Five Below, Novavax, Nio and more
A Tesla dealership is seen in West Drayton, just outside London, Britain, February 7, 2018. Hannah McKay | Reuters Check out the companies making headlines in midday trading. Tesla — Shares rose about 2.2% after UBS upgraded the electric vehicle...
US CPI Preview – A Playbook on the Worlds Most Important Data Point
With the world so myopically focused on global inflationary trends, the clear focus now falls on tomorrow’s (22:30 AEST / 13:30 BST) May US CPI report – arguably the most important economic release on the calendar The market expects US...
WTI Oil Futures Approach Crucial Territory; Bias Bullish
WTI oil futures (July delivery) extended their series of higher highs up to $123.15 on Wednesday before easing a bit – the highest in three months – aiming to mark a fourth consecutive week of wins. The 78.6% Fibonacci retracement...
Stock futures are flat on Wednesday evening
Stock futures were flat in overnight trading Wednesday after the major averages ended the regular session lower and U.S. Treasury yields rose.
Australia Dollar Dips as Rate Rally Fizzles
The Australian dollar has reversed directions on Wednesday and is slightly lower. AUD/USD is trading at 0.7209, down 0.28% on the day. Aussie runs out of steam The RBA surprised the markets with a supersize rate hike of 50bp yesterday,...
Euro Rises ahead of Tomorrow’s ECB, Yen Selloff Continues
The main focus remains on Yen’s selloff today, on the back of widening yield spread between Japan JGB and other major benchmark treasuries. Meanwhile, Euro appears to be strengthening in general too. Traders are probably buying up the Euro in...
Dollar and Euro Mixed, Yen and Swiss Franc Staying Pressured
Weakness in Yen and Swiss Franc are both staying under selling pressure today, and there is not clear sign of bottoming yet. Sterling is currently the stronger one for the week but there is no clear breakthrough. Aussie and Loonie...
Elliott Wave View: EURJPY Should Continue to Find Support
EURJPY shows an incomplete bullish sequence from March 2022 low favoring further upside. The 100% – 161.8% Fibonacci extension from March 2022 low can see pair reaching 148.3 – 158 level in the medium term. Short term Elliott Wave view...
US 100 Index Halts Decline But Retains Bearish Bias
The US 100 stock index (cash) has been experiencing a minor pullback after its advance failed to cross above the 12,940 region. Nevertheless, the ascending 50-period simple moving average (SMA) is closing the gap with the 200-period SMA, where a...
RBA Board Raises the Cash Rate by 50 Basis Points; Another 50 in July
We expect the Board will decide on another 50 basis point increase in July. By front loading the moves it can firmly establish its inflation fighting commitment. The cash rate is then likely to move in 25 basis point increments...