Author: FX

© Reuters. Apple (AAPL) stock is underappreciated, named top IT hardware pick for 2023 at MS By Senad Karaahmetovic Morgan Stanley analysts introduced Apple (NASDAQ:) stock as their top pick in the research coverage of the IT hardware sector for 2023. The Cupertino-based titan is described as “a rare best-of-both-worlds outperformer.” On one side, Apple stock can act as a defensive/quality asset during times of difficult macroeconomic environment, while also being an outperformer in the early cycle. “While the state of consumer demand remains a near-term concern, we believe the underlying drivers of Apple’s model – a growing installed base…

The Dollar finds support at the crucial 101.66 level, as investors eye US Retail sales and PPI data. Dollar The Dollar continues the week with a mild recovery as it finds support at the 101.66 level, as speculative bulls eye US Retail Sales and PPI data. This renewed buying interest comes as the DXY reaches levels last seen in June 2022. The dismal performance seen in the early stages of the week can be mildly attributed to the disappointing New York Manufacturing data prints, namely the Empire Manufacturing index, which measures the level of general business conditions in the state of…

Platinum, Daily The USDIndex has fallen considerably in recent months and developments in China have been a driver of this trend alongside market expectations of a cooling Fed stance. The lifting of restrictions in China throughout November, followed by an optimistic market mood on how the global economic outlook could turn out, added to the positive sentiment in equity markets. Despite this, the global economy is still burdened by the legacy of the pandemic. However, any changes in housing and infrastructure investments made will result in greater demand for raw materials, which could have a positive impact on the prices…

  Click here to access our Economic Calendar Aldo W. Zapien. Market Analyst Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any…

The euro was dented yesterday after a report came out suggesting that there might just be one more 50 bps rate hike on the cards left for the ECB. But it is recovering well now with the dollar feeling the heat in European trading, as we see EUR/USD rise up to 1.0860 levels at the moment:The push higher closes in on the highs at the start of the week as the bullish breakout in EUR/USD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United…

At one point in 2022, Netflix was down -75% from its all time high, but this fall also brought in dip buyers picking up Netflix at cheaper prices. One of the key reasons for Netflix’s fall last year was the decline in subscriber numbers. So, with earnings out on Thursday expect subscriber numbers to be a major focus again. However, Netflix has a number of other challenges including growing subscription TV competition from Disney+, Apple TV, Amazon Prime, HBO, and others. Netflix also tried to increase subscriptions by offering a ‘with ads subscription service’. Was this to counter the cost…

On January 26, LVMH’s reports its Q4 earnigns, and the fundamental question that remains is whether the current price is overvalued or whether the firm’s mad dash forward is only just beginning? LVMH Moët Hennessy Louis Vuitton SE is the world leader in luxury goods. Revenue by product family is broken down as follows: Fashion and Leather Goods (48.1%): Louis Vuitton, Kenzo, Celine, Fendi, Marc Jacobs, Givenchy, etc. brands; Watches and Jewellery (14%): Bulgari, TAG Heuer, Zenith, Hublot, Chaumet, Fred, Tiffany, etc. brands; Perfumes and cosmetics (10.3%): perfumes (Christian Dior, Guerlain, Loewe, Kenzo, etc.), make-up products (Make Up, Hennessy, etc.),…

In today’s Asian trading session, the Bank of Japan announced that it kept its accommodative monetary policy unchanged, with its benchmark interest rate and 10-year government bond yield holding steady at historic lows of -0.1% and 0% respectively. The Bank also indicated that it “will not hesitate to increase easing when necessary” and that it “will be flexible in making large-scale bond purchases”, releasing a clear dovish signal to the market and reinforcing Governor Haruhiko Kuroda’s statement that “the December move was a technical change”. The Bank of Japan’s economic forecasts are also very positive. In terms of economic forecasts,…

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 JGB dropped to 0.36% from 0.52%  yesterday. US Stock markets were mixed (DOW -1.14%, Nasdaq +0.14%) as Goldman Sachs Earnings disappointed. Asia markets and European FUTS also mixed. UK CPI confirmed at 10.5% (CORE CPI 6.3%)down from 10.7% in November but still at 40-year highs.…

Can Brent crude oil (UKOIL) bust out of a consolidation? Or will the commodity slide down the charts in the next trading sessions? In case you missed it, risk-friendly assets like commodities and commodity-related currencies have been having a good week as markets priced in the major central banks not being as hawkish as they were last year. Brent crude oil, which hit lows near $75.75 in December, has gone up all the way to its current $86.00 levels. Can Black Crack maintain January’s bullish momentum? Brent Crude Oil (USOIL) Daily Chart by TradingView A couple more risk-friendly trading sessions…