Market News & Analysis

"Bottoming" configuration sighted in PetroChina, the worst may be over.

The FTSE traded higher out of the blocks following a mixed session on Wall Street and strong trading in Asia overnight. A rally in commodities saw the energy sector take top spot in Tokyo, whilst the metal and mining sector hit a three-month high in Australia.

Short-term USD strength has resurfaces in GBP & NZd while the AUD/USD & USD/JPY bulls need to break above 0.7790 & 107.80 respectively. Major stock indices remain firm above key short-term supports with S&P 500 residual push up in progress towards 2740/50 medium-term resistance/risk zone.

A small tech firm coming to market this week has the ingredients for a spectacular debut

This week’s key macro events are mostly out of the way. However, we still have important data coming from the Antipodean nations in the early hours of Thursday and from Canada on Friday. So, the focus is now going to turn to the commodity currencies.

Could the U.S. stock market mayhem seen in February and March make a comeback soon?

Today’s weaker-than-expected UK inflation figures follow the slightly disappointing wages data we saw yesterday and as a result, the pound is falling for a second consecutive day.

European bourses are looking at a positive start to trading, taking the lead from a strong finish in the US, which transferred across to a strong session in Asia overnight. Sentiment is on the up after several long weeks of raised geopolitical tensions stemming from US-Chinese trade war fears and souring US-Russian relations.

Mix bag in FX, watch the 107.80 resistance on USD/JPY. S&P 500 further potential push up towards 2740/50 risk zone before another potential round of choppy setback materialises.

Economic news in the UK was also not great today, although it wasn’t too bad either.

Solid Goldman and Netflix earnings, booming Chinese growth, and forecasts of the best Q1 earnings in almost a decade are outflanking trade worries, for now

Today’s publication of key macro data from some of the world’s most important economies have been far from impressive, underscoring key central banks’ cautious approach about normalising monetary policy.