Big tech earnings are keeping investors on edge this afternoon, while a fall in commodity prices is weighing on the FTSE 100, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Stocks nervous ahead of key earnings
“The morning gains for Europe have mostly slipped away, and it has been an uncertain start on Wall Street too as investors hunker down and await earnings from Tesla and Alphabet. However, yesterday’s slump in the Vix has continued into today’s session, suggesting that stocks could resume their gains should tonight’s earnings beat expectations.”
Oil prices at fresh six-week lows
“Recent history has shown that oil prices tend to decline over the summer and early Autumn, and worries about demand growth have sparked off fresh losses this afternoon. This spells fresh trouble for the FTSE 100, which has been desperately seeking a catalyst for a new rally. With oil and metals prices suffering it seems the index’s rangebound period has some way to go.”
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Recommended Content
Editors’ Picks
EUR/USD tumbles toward 1.1450 as MIddle East tensions linger
EUR/USD has come under renewed selling pressure, testing 1.1450 in the European session on Monday. The renewed US Dollar buying, amid deepening Middle East conflict, and mixed PMI data releases from Germany and the Eurozone weigh on the pair as the focus shifts to US data and central bank talks.
Could Iran block the Strait of Hormuz? Why Oil is on edge after US strikes
As the Israel-Iran conflict reaches new heights, an old threat is coming back to haunt the markets: that of the closure of the Strait of Hormuz. This narrow arm of the sea in the Persian Gulf, wedged between Iran to the north and the United Arab Emirates and Oman to the south, is much more than a simple sea passage.
Gold price hangs near daily low amid modest USD strength; downside seems cushioned
Gold price retains its negative bias through the first half of the European session on Monday and currently trades near the lower end of its daily range. The US attack on Iran’s nuclear facilities on Sunday raises the risk of a broader conflict in the Middle East and benefits the US Dollar's status as the global reserve currency.
Solana Price Forecast: SOL recovers after hitting 2-month low amid US attack on Iran
Solana (SOL) recovers slightly, trading at around $134 at the time of writing on Monday after dipping to a two-month low of $126 the previous day. This price correction was triggered by the rising jitters as the US struck Iran over the weekend, sparking risk aversion in the crypto markets.
GBP/USD holds recovery above 1.3400, with eyes on UK PMI, Middle East woes
GBP/USD is holding its rebound above 1.3400 in the European session on Monday. The fears that Iran would retaliate against US attacks on its nuclear sites continue to support the safe-haven US Dollar. Investors await the June preliminary PMI readings from the UK and the US for fresh trading directives.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.