Author: FX
Article by IG Senior Market Analyst Axel RudolphFTSE 100, CAC 40, Russell 2000, Analysis and Charts Recommended by IG Get Your Free Equities Forecast FTSE 100 tries to recover amid slightly better month-on-month GDP readingThe FTSE 100, which Thursday dropped to the 200-day simple moving average (SMA) at 7,573 on a higher-than-expected US CPI inflation reading, tries to recover on the last trading day of the week amid a decent month-on-month performance on UK GDP which was negated by a drop of the 3-month average.Resistance sits at last week’s 7,635 to 7,647 lows ahead of Thursday’s 7,694 high. Downside pressure…
Share: Pound Sterling experiences a sell-off after mixed UK factory data. The UK economy is expected to report a technical recession despite 0.3% growth in November GDP. Investors await the US PPI, UK labor market and inflation data for further action. The Pound Sterling (GBP) faces a correction after the United Kingdom Office for National Statistics (ONS) reported mixed factory data for November. Monthly growth in the manufacturing sector was slightly higher while annual data failed to match expectations. Overall economic data was slightly better than expectations but seems incapable of taming fears of a technical recession happening in the UK economy.…
UK GDP (November), Pound Sterling AnalysisUK GDP shows signs of potential via latest November dataGBP little changed but holds gains heading into the weekendUK and US conduct joint strike of Houthi military targets in YemenThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryUK GDP Shows Signs of Potential via Latest November DataUK GDP rose more than expected in November 2023, mainly boosted by the services sector and marginal improvements in production output. However, the main concern is around how the economy fared over the final…
SemiLEDs GAAP EPS of -$0.12, revenue of $1.65M; issues Q2 revenue outlook Source link
© Reuters. A Burberry store is seen in London, Britain, January 16, 2023. REUTERS/Peter Nicholls/File Photo LONDON (Reuters) – British luxury fashion brand Burberry on Friday warned that its annual results would be below previous guidance, blaming a further slowdown in demand that hit sales in the key December trading period. The group now expects full-year adjusted operating profit in a range between 410 million pounds ($523 million) and 460 million pounds. Retail revenue in the 13 weeks to Dec. 30 was down 7% at 706 million pounds while comparable store sales fell 4%. They were up 3% in the…
Something is climbing the charts, and it’s not Jack Harlow’s “Lovin On Me.” I’m talking about EUR/CHF yo! After breaking above its December consolidation, the pair looks set to test one or two potential resistance levels. Where do you think EUR bears will show up to play? EUR/CHF Daily Forex Chart by TV If you zoom in on the 4-hour time frame, you’ll see that EUR/CHF recently broke above a consolidation that started near the end of December 2023. EUR/CHF is currently trading at the .9350 near the Pivot Point level (.9360) in the daily time frame. How high can…
On the initial reaction to the US CPI data yesterday, 10-year Treasury yields jumped from 3.99% to 4.06% before ultimately settling lower below the 4% mark. That’s the sort of thing which is seeing bond sellers go out on a whimper after the action from last week. It comes as yields fail to take out a key technical level in the form of the 200-day moving average (blue line):US Treasury 10-year yields (%) daily chartThe data yesterday was supposed to be a trigger event of sorts to tide yields across the key technical hurdle. And we even got decently higher…
Share: WTI price moves upward over the escalation of the Israel-Gaza conflict. US and UK military forces have carried out air strikes against various Houthi locations in Yemen. Iran has captured a civilian oil tanker “Marshall Islands-flagged St Nikolas” carrying Iraqi Crude destined for Turkey. The improved Chinese Trade Balance data could support reinforcing the Crude oil prices. West Texas Intermediate (WTI) price rises on the second consecutive day, driven by heightened concerns over potential oil supply disruptions in the Red Sea. Air strikes carried out by the United States (US) and United Kingdom (UK) targeted Iran-backed Houthis…
© Reuters. FILE PHOTO: The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. REUTERS/Tyrone Siu/File Photo By Victoria Waldersee BERLIN (Reuters) -Tesla will suspend most car production at its factory near Berlin from Jan. 29 to Feb. 11, the company said on Thursday, citing a lack of components due to shifts in transport routes because of attacks on vessels in the Red Sea. The partial production stop is evidence that the crisis in the Red Sea, unleashed by Iranian-backed Houthi militants attacking vessels in solidarity with Palestinian Islamist group Hamas fighting Israel in Gaza, has hit Europe’s…
imaginima/iStock via Getty Images Utility companies posted broad losses in Thursday’s trading, responding to a hotter than expected U.S. inflation report for December. The U.S. Labor Department said core price, which strips out volatile food and energy prices, rose 3.9% from a year ago, slightly above economists’ forecasts for a 3.8% increase. But it was enough to send shares of power producers (NYSEARCA:XLU) reeling, dominating the list of the day’s biggest losers on the S&P 500: AES Corp. (AES) -4.5%, WEC Energy (WEC) -4%, Alliant Energy (LNT) -3.5%, Pinnacle West (PNW) -3.4%, Consolidated Edison (ED) -3.2%, PG&E (PCG) -3.2%, CenterPoint…