Fed Interest Rate Decision, Oil Inventories, US Employment, Q1 Earnings Report & Labour day Jingles

By Content-mgr - on May 1, 2019

Fed Interest Rate Decision, Oil Inventories, US Employment, Q1 Earnings Report & Labour day Jingles

Most of Europe remains closed in commemoration of May 1st (Labour Day). It should be noted that trading volumes on some assets will be diminished while others receive undue attention. Thus exacerbating volatility in general. Simply put expect some sort of “Market Vietcong syndrome”.

Besides this despite the markets general perception that the Fed may continue to stand pat. Traders and Investors will be tuned in to every word proceeding from Chair. J. Powell in an attempt to decipher any hints on the strength of the USD and possible directions, with about 68% priced in for a possible change of strategy to Quantitative Easing.

Meanwhile, Q1’s corporate earnings are ongoing, today with about 328 companies reporting. Including CVS Health Corp. Automatic Data Processing Inc. Apache Corp. Most of the US stocks and Wall Street is expected to remain bullish. Unless of course the earnings announcement disappoints completely.

Furthermore, Market participants are expected to get a glimpse of Friday’s NFP Non-Farm Payrolls from the day’s revelation of the ADP. Automatic Data Processing reports.

Market Dynamics is heated just a tad with the anticipation of today Crude Oil Inventories report. Despite supply constraints. It seems the US-Saudi-Russo squabbles plagues Oils upside movement momentarily.

Elsewhere we wish to call your attention to the tech stocks, Huawei seems to be on fire as reports of its sales climb roughly 49.97% Britain and other countries like Germany are encouraging its 5G networks. Meanwhile, Apple and Samsung’s sales sag.

Global Stocks: Are mixed.

USA30: likely going to be boost up with all the earnings reports to be released. With trading ranging between 26,620.0 – 26,690.5 an impressive comeback from Tuesday’s slide to 26,414.00. brought on by GOOGL’s over revenue woes.

UK100: The FTSE 100 is like going to be depressed as Oil prices slump, and the mining industry contracts with the GBP rallying until the Oil reports show sighs of relief. Trading between 7,353.8 – 7,411.2

Germany 30: The asset was seen up 0.52% from the day open of 12,348.8 trading around 12,406.6. The trading ranges between 12,295.8 – 12,417.8

Italy 40: The FTSE MIB seem to have gathered momentum from the Upbeat Eurozone GDP on Tuesday. While Italy shy’s away from recession. The Futures were caught trading up 0.67% in the post afternoon between 21,324.50 – 21,507.50  

Commodities:

Oil: remains in a limbo losing steam to trade between 63.09 – 63.87. However, uptrends could be inevitable making the asset very interesting. Some hedge funders are play touch with it will other are banking on going long at least back to the $65.00bbl.

Gold: Is little changed trading between 1,279.25 – 1,285.45

FX Market:

GBP/USD: The pair manages to stay above the 1.3 levels oscillating between 1.3031 – 1.3078. up 0.28% from  previous close, which is the current support.  

EUR/USD: Was observed trading slightly below yesterday range. However bullish between 1.1211 – 1.1241.

USD/JPY: The USD threw in the towel sliding down to the Yen

In between 111.26 – 111.55

The Cryptocurrencies.

With limited trading activities due to the labour day in most of the EU countries the cryptocurrency arena is likely to gain more attention BTC/USD, is amongst the gainers of the day with upsides expected to go up as 1.50% i.e. trading between 5,557.95,610 or even more

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