Financial market research and analysis

Our analysts have their fingers on the pulse of the world's financial market news.

CFD trading is high risk and may not be suitable for everyone.
Trump approves TikTok deal, Powell & Superdry earnings

MARKETS

The Dow Jones fell on Friday as investors had to contend with another selloff in big tech, led by Google. Friday moves came as four major types of options contracts were set to expire in a quadruple witching, triggering a rise in volatility. European equities were down around half a per cent.

The dollar closed the week lower following two weeks of gains not so much in response to the Fed but amid rising fears of a US election without a clear result in five weeks time. Gold edged up for a second week but remains rangebound while oil came back strong thanks to tough talk from OPEC+ on better compliance to output cuts.

DAY AHEAD

For the day ahead there is the reaction to President Donald Trump approving the TikTok Oracle deal, a speech from Jay Powell and earnings from Superdry.

The theme over the last three weeks has been the sell-off in tech stocks and a small part of that has had to do with the move by Trump against Chinese social media company TikTok and any possible tit-for-tat moves by China against US tech. Trump signing off on the deal with Oracle could provide some sort of lift to markets after a down-day on Friday.

Federal Reserve Chair Powell and governors Brainard and Williams all give speeches on Monday in what is likey going to be the biggest influence on FX markets in a quiet day on the economic calendar. The aim will presumably be to set the messaging straight from last week’s Fed meeting, where the general conclusion from markets seemed to be that the Fed was dovish as least in contrast to the other central banks. The dollar index dropped last week after two weeks of gains.

Superdry will report full year results in what has clearly been a very tough second half of their fiscal year. The UK clothing retailer was already facing the uncertainty of a board room revolt against founder Julian Dunkerton last year. The good news is that its medium term finances are in order after agreeing a new £70m debt facility until Jan 2023. Now the company will just need to show it has a plan to come out the other side of COVID-19 that one would hope heavily leans on its e-commerce business to make up the deficit if stores have to close again.

27-11-2020

Thanksgiving crypto carnage
Bitcoin alongside other major cryptocurrencies dived double digits in a huge Thanksgiving sell-off after coming close to the record high set in December 2017 MARKETSNews• Asia-Pacific markets are little changed this morning. Bitcoin and altcoins are stable fol… Read more

26-11-2020

Global stocks set for best month EVER
MARKETSNews• Stocks in Asia-Pacific struggled for direction in Thursday trade as investors reacted to minutes released overnight from the U.S. Federal Reserve’s November meeting; • The Fed weighed adjusting bond purchases to provide more help to economy ‘fairl… Read more

25-11-2020

Dow hits 30k for the 1st time
The Dow Jones Industrial Average, America's oldest equity benchmark has closed above 30,000 for the first time on record. MARKETSNews• Japan’s Nikkei is up nearly 2% as Asia-Pacific shares mostly rise after Dow surges to a new record;• Airlines and cruise stoc… Read more

24-11-2020

Gold drops to 4-month low
Higher real interest rates thanks to positive covid-19 vaccine news caused gold to drop below key support at $1850 per oz to a new 4-month low. MARKETSNews• Trump administration officially begins transition to Biden: General Services Administration chief Emily… Read more

23-11-2020

Ethereum surges over $500
News• Stocks in Asia-Pacific edge higher while airline shares in Hong Kong and Singapore decline after an anticipated air travel bubble between the two cities was delayed due to rising Covid-19 cases in Hong Kong;• Beijing warns of crackdown on misconduct afte… Read more

20-11-2020

Energy stocks having best Q4 in 30 years
MARKETS News• Asia-Pacific markets traded mixed on Friday as investors remained cautious over the short-term economic impact of the coronavirus as cases around the world continue to rise. Dow futures fall more than 200 points as fresh virus restrictions raise… Read more

19-11-2020

Stocks pullback after NYC schools closure
News• Asia-Pacific markets fell on Thursday as traders grappled with optimism around a potential coronavirus vaccine and economic worries;• Deutsche Bank: "There is increasing demand to use Bitcoin where Gold was used to hedge dollar risk and inflation";• Tesl… Read more

18-11-2020

Bitcoin rockets above $18k
MARKETSNews• Bitcoin crossed the $18,000 mark overnight. Asia-Pacific markets were mixed in early Wednesday trade. Meanwhile, the U.S. dollar continued its slide;• Ant Group is still capable of clinching the world’s largest IPO — even as Chinese regulatory hur… Read more