This Bull Market is About to Go Out With Bang

The rally in global equities may have some more steam into it, as more money jumps back into the market, according to BlackRock CEO Larry Fink: “We have a risk of a melt-up, not a meltdown here. Despite where the markets are in equities, we have not seen money being put to work”. A melt-up is a big move in the markets that comes from investors trying to get in on a momentum shift but it is also seen as a sign of a late-stage bull market.

 

Stock Markets Continue to Rally

Global stock markets continue to rally, and the Nasdaq is back at ATH levels, despite mixed Netflix earnings and another set of weak IBM earnings. China bounced back with good economic data, especially when it comes to industrial production, which surpassed expectations strongly. The positive China eased concerns about a global economic slowdown and pushed global stock markets higher.

 

Wirecard Fights Back

The German bank Wirecard could see some buy interest now that the German regulator is suing the Financial Times over market manipulation because of their articles that heavily pressured Wirecard shares down earlier this year.

Markets

 

Forex Preview

The New Zealand dollar slid to a three-month low on Wednesday as weaker-than-expected consumer inflation figures for the first quarter increased odds of an interest rate cut by the RBNZ. Meanwhile, the Aussie hit two-month peak after steady China growth data. The strong China data had the exact opposite effect on the safe-haven U.S. dollar which sagged against the euro as global economic slowdown concerns eased.

Elsewhere, the sterling remain subdued despite a weaker dollar amid a deluge of Brexit headlines that put PM May back in the spotlight for a possible no-confidence vote. The EUR/USD recovered some of its previous losses as the dollar weakened and despite statements of ECB officials expressing doubts of a Q2 bounce back of the economy.

 

Oil Higher, Gold Subdued

Oil prices rose for a second day on Wednesday after oil inventories in the United States fell unexpectedly. Meanwhile spot gold paired some of its losses on Wednesday to last trade at 1279.3 per ounce as of 8:05 GMT, after having fallen as much as 1.2 percent to $1,272.70, its lowest since Dec. 27, in the previous session. Gold prices still remain below the key $1,280 level and are near a four-month trough, as better-than-expected economic readings from China turned market risk sentiment on and dented the noble metal’s safe-haven appeal.

 

Bitcoin Pushes Higher

BTC/USD is trading well above the 5K level, at 5249.4 as of 8:05 GMT this morning, after having noted a major rally late Tuesday. BTC/USD may be re-testing yearly highs today as bitcoin sees new record trading volumes.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The content of this material and/or any information provided by BDSwiss Holding PLC should not in any way be construed, either explicitly or implicitly, directly or indirectly, as investment advice, recommendation or suggestion of an investment strategy with respect to a financial instrument and it is not intended to provide a sufficient basis on which to make investment decisions, in any manner whatsoever. Any information, views or opinions presented in this material have been obtained or derived from sources believed by BDSwiss Research Department to be reliable, but BDSwiss makes no representation as to their accuracy or completeness. BDSwiss Holding PLC accepts no liability for loss arising from the use of this data and information. The data and information contained therein are for background purposes only and do not purport to be full or complete.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD consolidates losses as Fed moderates message

EUR/USD is trading above 1.1350, consolidating losses. The Fed's Bullard and Chair Powell have conveyed a balanced message, boosting the greenback. Treasury Secretary Mnuchin said 90% of the deal with China is done.

EUR/USD News

GBP/USD trades below 1.2700

GBP/USD is trading below 1.2700. BOE Gov. Carney said the BOE may cut rates in case of a no-deal Brexit. Boris Johnson has rattled markets by saying leaving the EU by October 31st is "do or die."

GBP/USD News

USD/JPY sticks to gains near 107.70, looks to snap 7-day losing streak

Following the sharp upsurge witnessed during the European trading hours, the USD/JPY pair has gone into a consolidation phase and is now moving in a relatively tight range in the upper half of its daily trading range.

USD/JPY News

EIA: Crude inventories decreased by 12.8 million barrels, WTI inches closer to $60

In its weekly petroleum report for the week ending June 21, the Energy Information Administration (EIA) announced that the commercial crude oil inventories in the United States decreased by 12.8 million barrels from the previous week. 

Read more

Gold finds some support near $1400 mark, lacks follow-through

Gold held on to its weaker tone through the early North-American session, albeit pared a part of its intraday slide to the $1400 neighbourhood post-US economic data.

Gold News

Majors

Cryptocurrencies

Signatures