From a technical point of view, it’s too early to call this the distribution phase of the euro’s recent uptrend. Based on the lack of any subsequent test of the three moving averages after last Monday’s very strong gains, this looks more like a consolidation. Volume remains fairly low so far today, understandable given that…
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What to watch Twilio: Cloud-based platform firm Twilio, which allows software developers to embed voice, messaging, video and other communication services into applications, has seen its share price surge more than 200% in 2020. The shift to a virtual world due to the pandemic has clear benefits for the firm, and earlier this month multiple…
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EUROPEAN SHARES European stocks plunged alongside the S&P 500 at the beginning of Monday’s trading session, amid rising virus worries over the weekend. Most investors want to remain optimistic about the upside potential of stock markets but they are becoming increasingly sceptical about the next US stimulus package. In addition, recent record-breaking infection levels in…
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What to watch American Express: Today, credit card and financial services firm American Express delivers its third-quarter earnings report. The company is dependent on consumer spending and credit card transaction volumes, which the pandemic has generated significant headwinds for. American Express stock is down more than 15% in 2020 so far, although it has rallied…
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GOLD Gold spot price is consolidating just above the threshold of $1,900. After an unsuccessful attack to $1,930, the price collapsed below $1,900, but buyers were ready to sustain bullion. Prices are moving in a relatively tight lateral trading range between $1,880 and $1,930, while yesterday’s decline was curbed at around $1,894 - well above…
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CLS, the market infrastructure provider of risk mitigation services to the global FX market, has released its operating metrics for September 2020. The average daily traded volume submitted to CLS was USD 1.785 trillion, up 8.2% from USD1.649 trillion in August 2020. TMX Group Limited announced Moe Kermani and Claude Tessier as the company’s newest additions…
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What to watch Intel: Chipmaker Intel has lagged the broader index year-to-date, with its share price down more than 10% in 2020. One point of interest will be the company’s planned sale of its flash memory business, for $9bn, that was revealed over the past week. Investors will be watching for details of how the…
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GOLD Gold spot price rallied to $1,932 as expectations of further monetary stimulus initially grew in the US, before easing down back to $1,915 after doubts over an imminent deal emerged. From a technical point of view, there has been an interesting assault to the resistance level at $1,930/1,932, but that level remains firm so…
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What to watch Around 30 US companies with a market cap greater than $10bn report quarterly earnings today, including Biogen, Thermo Fisher Scientific, Chipotle and more. In the UK on Thursday, Unilever’s earnings will be one to watch. Tesla: Tesla’s earnings report today will be one of the most hotly watched this earnings season, after…
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EUROPEAN SHARES Stocks drifted lower on Wednesday, despite bets on further US stimulus driving most Asian stocks and US Future contracts higher overnight. Investors were pleased to see the US House of Representative speaker Nancy Pelosi maintaining her “hopes” of a compromise on the next stimulus plan before the end of the week. However, while…
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