Joshua Mahony MSTA
Scope Markets
Wall Street is eyeing a softer start to the session as markets digest news of the latest support for Chinese property developers from Beijing. Sentiment here appears to be overshadowing further declines in US treasury yields, with interpretations of the Chinese move drifting to this being a case of shoring up, rather than stimulus. US equities have also had a solid run since the start of the month, so a degree of hesitation is hardly surprising.
After a quiet start to the week, the big macro event of the day will be publication of the FOMC meeting minutes. In the event these contain further hints of monetary policy being relaxed, that would have the potential to give stocks another broad-based leg up, extending recent gains. Earnings releases are also expected from retailers Best Buy and Lowe’s, both which will be closely followed ahead of the peak shopping season that starts this week, whilst stock market poster child NVIDIA will also be under scrutiny as any failure to live up to the bullish expectations being touted around could hit the stock hard. Those numbers from Baidu will also attract interest for visibility as to just how the Chinese market is performing.
This material is a marketing communication and shall not in any case be construed as an investment advice, investment recommendation or presentation of an investment strategy. The marketing communication is prepared without taking into consideration the individual investors personal circumstances, investment experience or current financial situation. Any information contained therein in regards to past performance or future forecasts does not constitute a reliable indicator of future performance, as circumstances may change over time. Scope Markets shall not accept any responsibility for any losses of investors due to the use and the content of the abovementioned information. Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors.
Recommended Content
Editors’ Picks
EUR/USD extends slide under 1.0900, hits one-week lows
EUR/USD dropped further during the American session and reached a one-week low under 1.0900. The pair has turned negative for the week, with the US Dollar recovering further despite mixed US data and risk appetite.
GBP/USD extends slide towards 1.2600 as Dollar strengthens
GBP/USD slid towards the 1.2600 region, retreating almost a hundred pips from daily highs. The pair weakened further after the release of US consumer inflation and Jobless Claims data. The US Dollar gained momentum boosted by higher Treasury yields.
Gold eases as investors rush away from safety
Financial markets turned optimistic after US inflation eased further in November. Speculative interest increases bets of a shift in central banks' monetary policy. XAU/USD is in a bearish corrective decline in the near term, slide should remain limited.
Kyber exploiter asks for complete control of all assets after nearly $50 million exploit
Kyber Network, a cross-chain decentralized exchange and aggregator, was hit by an exploit that drained nearly $50 million in cryptocurrencies from its liquidity pools. The exploiter contacted the team, asking them to await a statement concerning a “potential treaty.”
Salesforce rally helps Dow Jones outpace NASDAQ, S&P 500 on Thursday
Salesforce (CRM) is the main story on Thursday. The enterprise software company utilized artificial-intelligence-based (AI) integrations in its product suite to grow profits and revenue for the third quarter.