Market Spotlight: GS Shares Plunge As Q4 Results Worst in Decade
GS Shares Tank on Q4 ResultsShares in Goldman Sachs are on the backfoot today following heavy losses yesterday amidst a weaker-than-expected set of Q4 earnings. On the back of solid results from JPM and Citi last week, investors were hoping for a similar display from Goldman. However, with EPS coming in at $3.32 vs $5.56 […]
Daily Market Outlook, January 18, 2023
Daily Market Outlook, January 18, 2023BoJ Double Down or BustThe Bank of Japan has once again remained anchored to their easy monetary stance, frustrating bond traders who had been poised to profit from an about turn in Yield Curve Control policy, the Japanese Yen shed 2% as the Nikkei ascended by a similar amount. The […]
Market Update – January 18 – BOJ Sticks to Accommodative Policy – YEN Dives
BOJ keeps YCC policy unchanged, Kuroda “will not hesitate to increase easing if necessary”. DOVISH !! – Downgraded economic forecasts – Growth 2023 – 1.7% vs. 1.9% & 2024 1.1% vs. 1.5%. Inflation forecast raised to 1.8% vs. 1.6%. YEN tanked (USDJPY +2.6% at one point). Bonds rallied, the 10-yr […]
Intraday Market Analysis – CAD consolidates gains
USDCAD builds base The Canadian dollar steadied after inflation eased more than expected in December. From the daily chart’s perspective, the pair is still in a prolonged consolidation between 1.3230 and 1.3800. A bounce off the daily support at 1.3320 may lead to a narrower range. A close above the immediate hurdle […]
Crypto Market Cap Fell by 64.1% to $829 Billion in 2022: Report
With bearish trends in Bitcoin (BTC), Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs), the market capitalization of the global cryptocurrency market slumped by 64.1% to $829 billion at the end of 2022, down from $2.3 trillion at the start of the year. In a similar fashion, spot trading volume on the top 10 crypto exchanges […]
Market Spotlight: Goldman Earnings in Focus Today
Goldman To Follow JPM & Citi?Shares in US banking giant Goldman Sachs are trading higher ahead of the open today as traders brace for the group’s Q4 earnings. A slew of strong earnings from leading financials on Friday has helped stoke sentiment ahead of the release. In terms of the numbers, Wall Street is looking […]
Intraday Market Analysis – USD struggles to find floor
EURUSD keeps high ground The US dollar struggles on speculation that the Fed is nearing the end of its tightening. The pair is holding on to its gains after breaking above May’s high of 1.0780. A bearish RSI divergence suggests a deceleration in the momentum and may foreshadow a potential pause in […]
Market Spotlight: Shifting Fed View Drives Bitcoin Bounce
BTC Rebound UnderwayFollowing heavy losses over 2022, Bitcoin is starting the year in a much more encouraging manner. The leading crypto asset has recorded a roughly 30% rally over initial 2023 trading, taking price back up to levels last seen in September 2022. The main driver behind the move appears to be the shift in […]
Daily Market Outlook, January 17, 2023
Daily Market Outlook, January 17, 2023China Growth Concerns Cap Asian Equities EX Japan, BoJ Bets Supports The NikkeiChina growth concerns have put a cap on the Asian equity markets' bullish sentiment with the MSCI Asia Pac index retreating from seven month highs. China data confirmed 2022 as a dire year for the region with a […]
Market Update – January 17 – USD Holds at 7-mth lows, Mixed data from China & UK
Trading Leveraged Products is risky Chinese GDP for 2022 at 3.0% missed expectations (5.5%) significantly and represented the slowest growth for the world’s second largest economy since 1976 and the end of the austerity of Mao Zedong. Q4 GDP beat expectations at 2.9% vs 1.8% but was still very weak. […]