A cautious start to a busy week

A cautious start to a busy week

A cautious start to a busy week   By Hussein Sayed, FXTM Analyst Following a solid start to the year, investors are turning more cautious as data continues to be released, corporates present their outlook for 2021, President-Elect Joe Biden sets out his economic plan, and most importantly developments around Covid-19 continue. Asian stocks traded mixed today despite data showing that China’s economy bounced back strongly in the final quarter of 2020. The world’s second-largest economy reported 6.5% growth in Q4, well above estimates of 6.1%. Industrial production also beat…

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OPEC Outlook: Time to get real?

By Han Tan ___________________ Oil prices remain relatively stable, as investors await OPEC’s World Oil Outlook due later today. It comes at a time when demand-side concerns continue to weigh on prices, while the OPEC+ supply cuts programme is set to be pared back further in January. Such a context has lent itself to both Brent and WTI futures, in September, posting their first monthly losses since April. Brent extended those declines by falling by another 0.7 percent so far in October, struggling to break above its 100-day simple moving…

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Investors little moved by the Presidential Debate

Twitter Stock

By Hussein Sayed ________________________ There is no doubt whoever becomes the next President of the United States of America will influence investor’s decisions, but it seems we are no clearer in knowing who that will be after the first presidential TV debate. After a chaotic and messy debate between President Donald Trump and Democratic nominee Joe Biden where both candidates spent most of their time trading personal insults, markets didn’t initially like what they were seeing. The American people too were left frustrated and stock market futures sold off. However,…

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PMI day for Europe, UK & United States

By Lukman Otunuga Grab your popcorn and find a cosy seat ahead of the latest Purchasing Manager Index (PMI) data from Europe, United Kingdom and the US which could spark volatility in the FX space. The PMI is a leading indicator of economic health which essentially surveys purchasing managers at businesses that make up a given sector. Digging deeper, the headline PMI is a number from 0 to 100. Anything above 50 represents an expansion when compared with the previous month while under 50 represents a contraction. It is worth…

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US futures fluctuate following tech bounce; eyes on the ECB

Global stock

By Hussein Sayed After entering correction territory on Tuesday with an 11% decline from the highs, the c 100 rebounded strongly on Wednesday rising 3% and led by the most beaten-up stocks, with Zoom Video Communications and Tesla up 11% on the day. While a drop of this size from the peak sounds like a steep correction, it remains a minor one given the index had rallied 83% from the March lows in a mere five months. With a price to earnings ratio of 36, valuations for the index are…

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