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Market News

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Market News

Trading News Center

Stay informed with the latest news from the trading market, using MTE Media’s investment insight tool, completely free of charge. Use it together with the Economic Calendar and get an overview of what has happened in the markets and what might impact your favourite assets next.

March

European Daily Market Review
2021-03-03 16:05UTC
European markets gave up early gains and headed lower Wednesday afternoon as Treasury yields in the U.S. began to nudge higher. Also in focus was the latest HIS Markit final euro zone composite PMI, which came in at 48.8 for February. That was an improvement from the 47.8 reading in January, and it exceeded analysts’ expectations, but it does still signal that the EU economy remains in contraction. The pan-European Stoxx Europe 600 was trading lower by 0.4% heading into the final hour of trading in Europe. Meanwhile the CAC 40 in France was flat with a slight loss of less than 0.1%, while the DAX 30 in Germany was trading just 0.1% lower. If markets close lower today it will snap a two session winning streak for European markets. Leading the CAC 40 in France higher were Sodexo and Saint Gobain, with the two trading up by 4.2% and 3.8% respectively.  And in Germany automotive shares led gainers, with auto parts maker Continental rising 4%, BMW trading up by 3.7%, and Volkswagen adding 3.3%. Across the rest of Europe the IBEX 35 in Spain is trading 0.5% lower, and in Italy the FTSE MiB has a loss of 0.7%. In the U.K. the FTSE 100 is outpacing its European peers as it’s rising 0.4%. That’s despite traders learning that UK corporate taxes will be rising by 25% in 2023 to help restore public finances in the wake of the COVID-19 pandemic. Banks are providing the broadest gains in London, but the best performer in the FTSE is hotel and restaurant operator Whitbread, with a gain of 5.5%.
Asian Daily Market Review
2021-03-03 02:38UTC
Asian markets are mostly pushing higher after overnight losses on Wall Street and despite warnings by Chinese regulators regarding the potentially excessive valuations of global equities. In Japan the Nikkei has erased an early loss and is hovering near unchanged levels with a gain of less than 0.1%. The Yen remains weak against the USD, but has been unable to push above the 107.00 level. Shares of Softbank Group are supporting the market with a gain of 1.3%, but Sony is trading 0.8% lower. Among the major exporters Toyota is adding 0.4%, and Canon is 0.7% higher, but Panasonic is falling 0.8%. Australia’s S&P/ASX 200 has a gain of 0.7%, with the big four banks leading gains for the market. Shares of ANZ are trading 1.8% higher, NAB is advancing 1.4%, Commonwealth Bank is adding 0.9%, and Westpac is 1.3% higher. The major miners are also advancing strongly today, with BHP adding 2.8% and Rio Tinto rising 1.8%. Mainland China’s markets are mixed, with the benchmark Shanghai Composite advancing 0.8%, but the smaller cap Shenzhen Composite falling 0.3%. Meanwhile in Hong Kong the Hang Seng is leading gains for the region as it trades 1.3% higher. Shares of Alibaba are trading 0.8% higher, despite the US listed shares falling 3% overnight on Wall Street. In South Korea the Kospi has a modest gain of 0.2%, and in Taiwan the Taiex is 0.3% higher. Both indices have overcome early losses. Southeast Asian markets are trading mixed as Singapore’s Straits Times Index adds 0.5% and the KLCI in Malaysia edges up by 0.1%, while the Jakarta Composite in Indonesia is falling 0.3%.
Target Shares Fall Despite Strong Earnings And Sales
2021-03-02 23:10UTC
Shares of retailer Target popped higher at the open on Tuesday after reporting better than expected earnings that were driven by strong holiday sales and a pickup in foot traffic to stores in January. Yet by the close of the session shares were down 6.8% despite the solid earnings news. Target had an outstanding 2020 thanks to the pandemic that had shoppers looking for safe and affordable ways to buy their groceries and other items. Over the course of the year sales grew by $15 billion, which is greater than the company’s combined sales growth in the prior 11 years. Not only did the company benefit from the jump in online sales, they were also helped by the $600 stimulus checks, which helped boost sales all across the retail industry. Target CEO Brian Cornell spoke of a surge of traffic in the stores in January, with consumers using gift cards, and growth across all the categories of merchandise from electronics to beauty supplies. Earnings per share for the quarter came in at $2.67 a share on revenues of $28.34 billion. That was against expectations of earnings of $2.54 a share on revenues of $27.48 billion. Shares fell on the day however as the company declined to provide guidance for the remainder of the year, claiming the pandemic has provided too much uncertainty. Management also said that they believe they gained roughly $9 billion in market share from competitors due to their stores closing while Target remained open during the height of the pandemic. Target also capitalized by offering a variety of shopping approaches that is expected to increase customer loyalty.
U.S. Daily Market Review
2021-03-02 14:02UTC
Wall Street’s main indexes are into a  falling side today after a solid start of the month.Also, yields retreated back from a one-year high.At 11:36 a.m. ET, the Dow Jones Industrial Average slipped 101.65 points, or 0.32%, to 31,433.86.The S&P-500 declined 23.50 points, or 0.60%, to 3,878.32 and the Nasdaq Composite tumbled 149.77 points, or 1.10%, to 13,439.06.Kohl’s Corp stock price surged around 1.5% as it posted holiday-quarter results beyond initial estimates.The 10-year Treasury yield dropped 1.41%. The benchmark rate appeared to be stabilizing this week after surging to a high of 1.6% last week.U.S. House Majority Leader Steny Hoyer reported that he predicts that he expects that the House of Representatives to support President Joe Biden’s $1.9 trillion COVID-19 relief plan again next week.
European Daily Market Review
2021-03-02 10:05UTC
European markets were able to advance with shares in France leading the region. The CAC-40 added 1.57% while London's FTSE-100 gained 0.30% and Germany's DAX rose 0.11%.The pan-European Stoxx-600 moved around the flatline in early trade, with oil and gas stocks falling 1.3%.Euro zone inflation preserved the steady path as it was predicted last month, taking a break in what is likely to be a temporary but solid rally in consumer prices.Prices in the 19 countries sharing the euro rose by 0.2% on the month in January and 0.9% versus last year, in hand with expectations, according to expectations from Eurostat.German manufacturer Kion Group surged 4.5% to lead the Stoxx 600 in early trade.In the meantime, the French Hellofresh and Edenred corporate services platform dropped around 4% to the bottom of the index.
The USD Advances
2021-03-02 09:01UTC
The USD surged this morning during the European trading hours.The Federal Reserve seen could follow further liberal stance to higher bond yields than its peers.Presently, the USD versus the Euro trades at 0.833 EUR, which is an addition of $0.0034 or 0.41% from the previous close of 0.8299.The daily trading range is from 0.8296 to 0.8333.Moreover, the largely volatile AUD/USD retreated around 0.3% to 0.7750, after the Reserve Bank of Australia re-committed to preserve interest rates at historic bottoms.The USD managed to partly recover amid forecasts that the Fed will stimulate higher bond yields.The European Central Bank implied in some predictions about the recent rises in bond yields. The common currency also fell today from weak German retail sales as the Covid-19 crisis and the withdrawal of a temporary limitations in sales tax hit consumer demand in the country.
Crude Oil Prices Dropped
2021-03-02 07:26UTC
Oil prices slipped little more than 1% this morning.This is further adding to the falling path that began last week, as investors unwound long positions on concern that OPEC may agree to raise global production levels.Now, oil trades at $59.998, which is a further loss of $0.205 or 0.34% from the previous close of 60.203.The daily trading range is from $59.438 to 60.368, while the trading volume is 19.32K.U.S. West Texas Intermediate (WTI) crude slid 74 cents, or 1.2%, to $59.90 per barrel.The market sentiment is concerned about the Organization of the Petroleum Exporting Countries and OPEC+, which is expected to increase oil output.The group meets on Thursday and could discuss allowing as much as 1.5 million barrels per day (bpd) of crude back into the market. OPEC oil output retreated in February as a voluntary reduction by Saudi Arabia added to set limitations agreed to under the previous OPEC+ pact.China's factory activity tumbled to a nine-month low in February, which will affect oil demand and will generate in some pressure on the oil prices.  
Asian Daily Market Review
2021-03-02 02:07UTC
Asian markets have turned broadly higher Tuesday morning, tracking overnight gains on Wall Street where the Nasdaq rose more than 3% and the S&P 500 had its best daily percentage gain since June. The optimism in equity markets has come as bond markets have stabilized and calmed worries over inflation heating up excessively. Japan’s Nikkei is edging up by 0.1% as the Yen continues to weaken versus the U.S. dollar despite the pullback in U.S. yields. Shares of Softbank are trading 0.2% higher, but Sony is falling 0.7%. Among the major exporters Toyota is 0.5% lower, while Panasonic rallies 1.8% higher, and Canon is adding 1.6%. In Australia the S&P/ASX 200 is up by 0.3% as investors await the latest rate decision from the Reserve Bank of Australia. Shares of the big four banks are supporting the market, with ANZ 1.4% higher, NAB rising 0.4%, Commonwealth Bank adding 0.5%, and Westpac slipping 0.1% lower. Major miners are also supporting the market, with BHP advancing 0.2% and Rio Tinto trading 1.2% higher. Mainland China’s markets are struggling to remain in positive territory, with the benchmark Shanghai Composite and the smaller cap Shenzhen Composite up less than 0.1%. Meanwhile in Hong Kong the Hang Seng is rising 0.5%. South Korea’s Kospi is leading gains for he region as it rises 1.8% following yesterday’s holiday closure. Taiwan’s Taiex is up 1.3% as well as traders there return from a holiday extended weekend. In Southeast Asia markets are also rising, with the KLCI in Malaysia and the Straits Times Index in Singapore each adding 0.5%, while Indonesia’s Jakarta Composite is flat at the open.
Will The GBP/USD Continue Higher?
2021-03-02 01:49UTC
Even though the U.K. has been grappling with the economic fallout of COVID-19 related lockdowns, the British Pound has enjoyed a strong start to the year. That’s primarily been based on Brexit optimism and the rapid pace of COVID-19 vaccinations in the U.K. Last week the GBP/USD was able to blow through the 1.4000 level, trading as high as 1.4243 before pulling back late in the week as the U.S. dollar gained strength in response to rising bond yields. Today it looked as if the Pound would regain its dominance, however this time around the 1.4000 level presented too much resistance and the pair dropped back to starting levels, with the 1.3900 handle acting as support. That’s now allowed for some consolidation, and the Pound isn’t looking as overbought as it did last week. As a result there are some interesting potential bullish continuation possibilities coming into play. This is especially true given the strong bullish uptrend seen from the GBP/USD since September. With the 1.3900 level holding as support on Monday there’s an opportunity for a retest of the resistance at the psychologically important 1.4000 level. If the pair can push above that level there’s a clear path to test the highs from last week, and the top of the continuation channel at the 1.4280 level. A move beyond that could see the pair easily trading up to the 1.4500 handle. On the downside a break below the 1.3900 support level would clear the way for a test of long-term support at the 1.3750 level. Given the fundamentals of the USD it isn’t likely this support will be broken.
U.S. Daily Market Review
2021-03-01 15:35UTC
U.S. stocks rallied today as a weekslong advance in government bond yields stalled.The Dow Jones Industrial Average added 645 points, or 2.1% in mid0session.The S&P-500 soared 2%, while the technology-heavy Nasdaq Composite jumped 1.9%. Apple Inc, Microsoft Corp, Facebook Inc and Amazon.com Inc recovered after a selloff last week in tech stocks. Apple surged around 5% and the biggest giver to the rising path of S&P-500.U.S. bond yields eased after a minor rally last month amid forecasts of higher inflation. The U.S. 10-year treasury yield dipped to 1.449%.Johnson & Johnson secured 0.5% after was granted the third authorized COVID-19 vaccine in the U.S.The USD Index jumped to a three-week peak today as investors bet on faster growth and inflation in the United States.Benchmark 10-year Treasury yields inclined 1.432% today.
European Daily Market Review
2021-03-01 11:10UTC
European markets are without a clear direction. The FTSE-100 added 1.62% while the DAX gains 1.12%. The French CAC-40 fell 1.39%.The pan-European Stoxx-600 secured 1.6% by mid-morning, with retail adding 2.7% to lead the rising path. The European equities dropped to a near one-month low on Friday. This took place as most traders and investors became more worried about rising inflation due to another large U.S. stimulus package.British manufacturers reported their slowest output growth since May last month.Britain’s economy is about to shrink sharply in early 2021.U.K. mortgage approvals dipped in January as the end of a property tax reduction.Banks and building societies approved 98,994 loans, a loss from 102,809 in December, according to date from the Bank of England.
The USD Falls
2021-03-01 08:22UTC
The USD slipped in early European trading Monday, with riskier currencies back in vogue as U.S. Treasury yields stabilized after last week’s hefty selloff in global bond markets. Presently, the USD versus the Euro trades at $0.829, which is a rise of $0.0011 or 0.13% from the previous close of 0.8281.The daily trading range is from $0.8265 to 0.8292.EUR/USD gained 0.1% to 1.2090, after dropping 0.9% at the end of last week.The risk-sensitive AUD/USD soared 0.8% to 0.7770, after a loss of 2.1%, as the Reserve Bank of Australia reported would buy twice the normal volume of long-term bonds. The benchmark 10-year U.S. Treasury yield currently changes around 1.41%.U.S. Federal Reserve Chairman Jerome Powell will speak again at the end of the week.Moreover, the Caixin manufacturing PMI dropped 50.9 in February, from 51.5 in January, marking a third consecutive session.
Crude Oil Prices Into Recovery
2021-03-01 08:03UTC
Oil prices entered into regaining mode after securing more than $1 this morning after the U.S. House of Representatives approved the massive economic stimulus package.Now, oil trades at $62.679, which is another rise of $1.149 or 1.87% from the previous close of 61.530.The daily trading range is from $61.530 to 62.897, while the trading volume is 15.751K.The U.S. House approved $1.9 trillion coronavirus relief package early on Saturday. Now, the U.S. Senate needs to finalize it.China's factory data dropped to a nine-month low in February. However, the economic activities in Japan advanced at the fastest rate in more than two years. The Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ are coming together this Thursday to negotiate as much as 1.5 million barrels per day of crude back in the market. Yesterday, Iran dismissed opening talks with the United States and the European Union to revive the 2015 nuclear deal.
Asian Daily Market Review
2021-03-01 02:11UTC
Asian markets are bouncing higher Monday morning as some semblance of calm has returned to the bond markets. Investors are also upbeat over the progress made over the weekend in the huge $1.9 trillion U.S. stimulus package, which could help boost the global economy if it gets by U.S. lawmakers in the coming week. In Japan the Yen is continuing to fall against the U.S. dollar, approaching the 107 level for the first time since August. In response, the Nikkei is trading 2.1% higher to lead gains for the region. Shares of Softbank Group are surging 4.7% higher, and Sony is adding 2.3%. Among the major exporters Toyota is flat with a slight gain of less than 0.1%, Panasonic is rising 0.4%, and Canon has a modest 0.2% gain. Australia’s S&P/ASX 200 is 1.5% higher mid-way through the afternoon session in Sydney, Shares of the big four banks are supporting the gains, with ANZ up 1.2%, NAB adding 1.8%, Commonwealth Bank is leading with a gain of 2.5%, and Westpac is 1.5% higher. Among the major miners BHP is 0.7% higher, but Rio Tinto is edging lower by less than 0.1%. Mainland Chinese are also making gains today, with the benchmark Shanghai Composite 0.6% higher, and the smaller cap Shenzhen Composite rising 1.5%. Over in Hong Kong the Hang Seng is adding 0.9%. South Korea’s Kospi is closed for Independence Day, and in Taiwan the Taiex is also closed for Peace Day. Southeast Asian markets are rising as well, with the Jakarta Composite in Indonesia advancing 0.8%, while the KLCI in Malaysia and Singapore’s Straits Times are each 0.3% higher.

February

When Will Tech Stop Falling?
2021-02-27 00:34UTC
2020 was a banner year for the tech sector as stocks all across the industry got bid up to sometimes insane valuations in a fear of missing out for investors. But 2020 is gone and now it’s 2021. And the changing calendar is also bringing with it a change in the markets as evidenced by the roughly 7% drop in the tech-heavy Nasdaq index over the past two weeks. Lately investors have been dumping their tech shares in fear of getting killed as the yield on U.S. 10-year Treasuries has jumped from 0.93% at the start of the year to 1.54% at the end of this week. And as rates keep rising the pressure on tech gets more intense. The problem is that in 2020 tech shares were rising based on their future earnings, but when rates are rising those future earnings will be worth less compared with today’s dollars. As a result growth isn’t valued as highly. Investors have recently been moving into more economically sensitive stocks like the energy complex, industrial stocks, healthcare names, and the financial sector shares. And the damage to tech likely isn’t finished yet. It will take some time for analysts to get around to recalculating the increased operating costs and financing costs caused by higher interest rates. Another things to consider for corporate profits in the coming quarters is the return of the travel and entertainment budget, which has been largely absent over the past year due to the COVID-19 pandemic. Until real fear begins to hit Wall Street the pain in the technology sector will likely drag on.
European Daily Market Review
2021-03-03 16:05UTC
European markets gave up early gains and headed lower Wednesday afternoon as Treasury yields in the U.S. began to nudge higher. Also in focus was the latest HIS Markit final euro zone composite PMI, which came in at 48.8 for February. That was an improvement from the 47.8 reading in January, and it exceeded analysts’ expectations, but it does still signal that the EU economy remains in contraction. The pan-European Stoxx Europe 600 was trading lower by 0.4% heading into the final hour of trading in Europe. Meanwhile the CAC 40 in France was flat with a slight loss of less than 0.1%, while the DAX 30 in Germany was trading just 0.1% lower. If markets close lower today it will snap a two session winning streak for European markets. Leading the CAC 40 in France higher were Sodexo and Saint Gobain, with the two trading up by 4.2% and 3.8% respectively.  And in Germany automotive shares led gainers, with auto parts maker Continental rising 4%, BMW trading up by 3.7%, and Volkswagen adding 3.3%. Across the rest of Europe the IBEX 35 in Spain is trading 0.5% lower, and in Italy the FTSE MiB has a loss of 0.7%. In the U.K. the FTSE 100 is outpacing its European peers as it’s rising 0.4%. That’s despite traders learning that UK corporate taxes will be rising by 25% in 2023 to help restore public finances in the wake of the COVID-19 pandemic. Banks are providing the broadest gains in London, but the best performer in the FTSE is hotel and restaurant operator Whitbread, with a gain of 5.5%.
Asian Daily Market Review
2021-03-03 02:38UTC
Asian markets are mostly pushing higher after overnight losses on Wall Street and despite warnings by Chinese regulators regarding the potentially excessive valuations of global equities. In Japan the Nikkei has erased an early loss and is hovering near unchanged levels with a gain of less than 0.1%. The Yen remains weak against the USD, but has been unable to push above the 107.00 level. Shares of Softbank Group are supporting the market with a gain of 1.3%, but Sony is trading 0.8% lower. Among the major exporters Toyota is adding 0.4%, and Canon is 0.7% higher, but Panasonic is falling 0.8%. Australia’s S&P/ASX 200 has a gain of 0.7%, with the big four banks leading gains for the market. Shares of ANZ are trading 1.8% higher, NAB is advancing 1.4%, Commonwealth Bank is adding 0.9%, and Westpac is 1.3% higher. The major miners are also advancing strongly today, with BHP adding 2.8% and Rio Tinto rising 1.8%. Mainland China’s markets are mixed, with the benchmark Shanghai Composite advancing 0.8%, but the smaller cap Shenzhen Composite falling 0.3%. Meanwhile in Hong Kong the Hang Seng is leading gains for the region as it trades 1.3% higher. Shares of Alibaba are trading 0.8% higher, despite the US listed shares falling 3% overnight on Wall Street. In South Korea the Kospi has a modest gain of 0.2%, and in Taiwan the Taiex is 0.3% higher. Both indices have overcome early losses. Southeast Asian markets are trading mixed as Singapore’s Straits Times Index adds 0.5% and the KLCI in Malaysia edges up by 0.1%, while the Jakarta Composite in Indonesia is falling 0.3%.
Target Shares Fall Despite Strong Earnings And Sales
2021-03-02 23:10UTC
Shares of retailer Target popped higher at the open on Tuesday after reporting better than expected earnings that were driven by strong holiday sales and a pickup in foot traffic to stores in January. Yet by the close of the session shares were down 6.8% despite the solid earnings news. Target had an outstanding 2020 thanks to the pandemic that had shoppers looking for safe and affordable ways to buy their groceries and other items. Over the course of the year sales grew by $15 billion, which is greater than the company’s combined sales growth in the prior 11 years. Not only did the company benefit from the jump in online sales, they were also helped by the $600 stimulus checks, which helped boost sales all across the retail industry. Target CEO Brian Cornell spoke of a surge of traffic in the stores in January, with consumers using gift cards, and growth across all the categories of merchandise from electronics to beauty supplies. Earnings per share for the quarter came in at $2.67 a share on revenues of $28.34 billion. That was against expectations of earnings of $2.54 a share on revenues of $27.48 billion. Shares fell on the day however as the company declined to provide guidance for the remainder of the year, claiming the pandemic has provided too much uncertainty. Management also said that they believe they gained roughly $9 billion in market share from competitors due to their stores closing while Target remained open during the height of the pandemic. Target also capitalized by offering a variety of shopping approaches that is expected to increase customer loyalty.
U.S. Daily Market Review
2021-03-02 14:02UTC
Wall Street’s main indexes are into a  falling side today after a solid start of the month.Also, yields retreated back from a one-year high.At 11:36 a.m. ET, the Dow Jones Industrial Average slipped 101.65 points, or 0.32%, to 31,433.86.The S&P-500 declined 23.50 points, or 0.60%, to 3,878.32 and the Nasdaq Composite tumbled 149.77 points, or 1.10%, to 13,439.06.Kohl’s Corp stock price surged around 1.5% as it posted holiday-quarter results beyond initial estimates.The 10-year Treasury yield dropped 1.41%. The benchmark rate appeared to be stabilizing this week after surging to a high of 1.6% last week.U.S. House Majority Leader Steny Hoyer reported that he predicts that he expects that the House of Representatives to support President Joe Biden’s $1.9 trillion COVID-19 relief plan again next week.
European Daily Market Review
2021-03-02 10:05UTC
European markets were able to advance with shares in France leading the region. The CAC-40 added 1.57% while London's FTSE-100 gained 0.30% and Germany's DAX rose 0.11%.The pan-European Stoxx-600 moved around the flatline in early trade, with oil and gas stocks falling 1.3%.Euro zone inflation preserved the steady path as it was predicted last month, taking a break in what is likely to be a temporary but solid rally in consumer prices.Prices in the 19 countries sharing the euro rose by 0.2% on the month in January and 0.9% versus last year, in hand with expectations, according to expectations from Eurostat.German manufacturer Kion Group surged 4.5% to lead the Stoxx 600 in early trade.In the meantime, the French Hellofresh and Edenred corporate services platform dropped around 4% to the bottom of the index.
The USD Advances
2021-03-02 09:01UTC
The USD surged this morning during the European trading hours.The Federal Reserve seen could follow further liberal stance to higher bond yields than its peers.Presently, the USD versus the Euro trades at 0.833 EUR, which is an addition of $0.0034 or 0.41% from the previous close of 0.8299.The daily trading range is from 0.8296 to 0.8333.Moreover, the largely volatile AUD/USD retreated around 0.3% to 0.7750, after the Reserve Bank of Australia re-committed to preserve interest rates at historic bottoms.The USD managed to partly recover amid forecasts that the Fed will stimulate higher bond yields.The European Central Bank implied in some predictions about the recent rises in bond yields. The common currency also fell today from weak German retail sales as the Covid-19 crisis and the withdrawal of a temporary limitations in sales tax hit consumer demand in the country.
Crude Oil Prices Dropped
2021-03-02 07:26UTC
Oil prices slipped little more than 1% this morning.This is further adding to the falling path that began last week, as investors unwound long positions on concern that OPEC may agree to raise global production levels.Now, oil trades at $59.998, which is a further loss of $0.205 or 0.34% from the previous close of 60.203.The daily trading range is from $59.438 to 60.368, while the trading volume is 19.32K.U.S. West Texas Intermediate (WTI) crude slid 74 cents, or 1.2%, to $59.90 per barrel.The market sentiment is concerned about the Organization of the Petroleum Exporting Countries and OPEC+, which is expected to increase oil output.The group meets on Thursday and could discuss allowing as much as 1.5 million barrels per day (bpd) of crude back into the market. OPEC oil output retreated in February as a voluntary reduction by Saudi Arabia added to set limitations agreed to under the previous OPEC+ pact.China's factory activity tumbled to a nine-month low in February, which will affect oil demand and will generate in some pressure on the oil prices.  
Asian Daily Market Review
2021-03-02 02:07UTC
Asian markets have turned broadly higher Tuesday morning, tracking overnight gains on Wall Street where the Nasdaq rose more than 3% and the S&P 500 had its best daily percentage gain since June. The optimism in equity markets has come as bond markets have stabilized and calmed worries over inflation heating up excessively. Japan’s Nikkei is edging up by 0.1% as the Yen continues to weaken versus the U.S. dollar despite the pullback in U.S. yields. Shares of Softbank are trading 0.2% higher, but Sony is falling 0.7%. Among the major exporters Toyota is 0.5% lower, while Panasonic rallies 1.8% higher, and Canon is adding 1.6%. In Australia the S&P/ASX 200 is up by 0.3% as investors await the latest rate decision from the Reserve Bank of Australia. Shares of the big four banks are supporting the market, with ANZ 1.4% higher, NAB rising 0.4%, Commonwealth Bank adding 0.5%, and Westpac slipping 0.1% lower. Major miners are also supporting the market, with BHP advancing 0.2% and Rio Tinto trading 1.2% higher. Mainland China’s markets are struggling to remain in positive territory, with the benchmark Shanghai Composite and the smaller cap Shenzhen Composite up less than 0.1%. Meanwhile in Hong Kong the Hang Seng is rising 0.5%. South Korea’s Kospi is leading gains for he region as it rises 1.8% following yesterday’s holiday closure. Taiwan’s Taiex is up 1.3% as well as traders there return from a holiday extended weekend. In Southeast Asia markets are also rising, with the KLCI in Malaysia and the Straits Times Index in Singapore each adding 0.5%, while Indonesia’s Jakarta Composite is flat at the open.
Will The GBP/USD Continue Higher?
2021-03-02 01:49UTC
Even though the U.K. has been grappling with the economic fallout of COVID-19 related lockdowns, the British Pound has enjoyed a strong start to the year. That’s primarily been based on Brexit optimism and the rapid pace of COVID-19 vaccinations in the U.K. Last week the GBP/USD was able to blow through the 1.4000 level, trading as high as 1.4243 before pulling back late in the week as the U.S. dollar gained strength in response to rising bond yields. Today it looked as if the Pound would regain its dominance, however this time around the 1.4000 level presented too much resistance and the pair dropped back to starting levels, with the 1.3900 handle acting as support. That’s now allowed for some consolidation, and the Pound isn’t looking as overbought as it did last week. As a result there are some interesting potential bullish continuation possibilities coming into play. This is especially true given the strong bullish uptrend seen from the GBP/USD since September. With the 1.3900 level holding as support on Monday there’s an opportunity for a retest of the resistance at the psychologically important 1.4000 level. If the pair can push above that level there’s a clear path to test the highs from last week, and the top of the continuation channel at the 1.4280 level. A move beyond that could see the pair easily trading up to the 1.4500 handle. On the downside a break below the 1.3900 support level would clear the way for a test of long-term support at the 1.3750 level. Given the fundamentals of the USD it isn’t likely this support will be broken.
U.S. Daily Market Review
2021-03-01 15:35UTC
U.S. stocks rallied today as a weekslong advance in government bond yields stalled.The Dow Jones Industrial Average added 645 points, or 2.1% in mid0session.The S&P-500 soared 2%, while the technology-heavy Nasdaq Composite jumped 1.9%. Apple Inc, Microsoft Corp, Facebook Inc and Amazon.com Inc recovered after a selloff last week in tech stocks. Apple surged around 5% and the biggest giver to the rising path of S&P-500.U.S. bond yields eased after a minor rally last month amid forecasts of higher inflation. The U.S. 10-year treasury yield dipped to 1.449%.Johnson & Johnson secured 0.5% after was granted the third authorized COVID-19 vaccine in the U.S.The USD Index jumped to a three-week peak today as investors bet on faster growth and inflation in the United States.Benchmark 10-year Treasury yields inclined 1.432% today.
European Daily Market Review
2021-03-01 11:10UTC
European markets are without a clear direction. The FTSE-100 added 1.62% while the DAX gains 1.12%. The French CAC-40 fell 1.39%.The pan-European Stoxx-600 secured 1.6% by mid-morning, with retail adding 2.7% to lead the rising path. The European equities dropped to a near one-month low on Friday. This took place as most traders and investors became more worried about rising inflation due to another large U.S. stimulus package.British manufacturers reported their slowest output growth since May last month.Britain’s economy is about to shrink sharply in early 2021.U.K. mortgage approvals dipped in January as the end of a property tax reduction.Banks and building societies approved 98,994 loans, a loss from 102,809 in December, according to date from the Bank of England.
The USD Falls
2021-03-01 08:22UTC
The USD slipped in early European trading Monday, with riskier currencies back in vogue as U.S. Treasury yields stabilized after last week’s hefty selloff in global bond markets. Presently, the USD versus the Euro trades at $0.829, which is a rise of $0.0011 or 0.13% from the previous close of 0.8281.The daily trading range is from $0.8265 to 0.8292.EUR/USD gained 0.1% to 1.2090, after dropping 0.9% at the end of last week.The risk-sensitive AUD/USD soared 0.8% to 0.7770, after a loss of 2.1%, as the Reserve Bank of Australia reported would buy twice the normal volume of long-term bonds. The benchmark 10-year U.S. Treasury yield currently changes around 1.41%.U.S. Federal Reserve Chairman Jerome Powell will speak again at the end of the week.Moreover, the Caixin manufacturing PMI dropped 50.9 in February, from 51.5 in January, marking a third consecutive session.
Crude Oil Prices Into Recovery
2021-03-01 08:03UTC
Oil prices entered into regaining mode after securing more than $1 this morning after the U.S. House of Representatives approved the massive economic stimulus package.Now, oil trades at $62.679, which is another rise of $1.149 or 1.87% from the previous close of 61.530.The daily trading range is from $61.530 to 62.897, while the trading volume is 15.751K.The U.S. House approved $1.9 trillion coronavirus relief package early on Saturday. Now, the U.S. Senate needs to finalize it.China's factory data dropped to a nine-month low in February. However, the economic activities in Japan advanced at the fastest rate in more than two years. The Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ are coming together this Thursday to negotiate as much as 1.5 million barrels per day of crude back in the market. Yesterday, Iran dismissed opening talks with the United States and the European Union to revive the 2015 nuclear deal.
Asian Daily Market Review
2021-03-01 02:11UTC
Asian markets are bouncing higher Monday morning as some semblance of calm has returned to the bond markets. Investors are also upbeat over the progress made over the weekend in the huge $1.9 trillion U.S. stimulus package, which could help boost the global economy if it gets by U.S. lawmakers in the coming week. In Japan the Yen is continuing to fall against the U.S. dollar, approaching the 107 level for the first time since August. In response, the Nikkei is trading 2.1% higher to lead gains for the region. Shares of Softbank Group are surging 4.7% higher, and Sony is adding 2.3%. Among the major exporters Toyota is flat with a slight gain of less than 0.1%, Panasonic is rising 0.4%, and Canon has a modest 0.2% gain. Australia’s S&P/ASX 200 is 1.5% higher mid-way through the afternoon session in Sydney, Shares of the big four banks are supporting the gains, with ANZ up 1.2%, NAB adding 1.8%, Commonwealth Bank is leading with a gain of 2.5%, and Westpac is 1.5% higher. Among the major miners BHP is 0.7% higher, but Rio Tinto is edging lower by less than 0.1%. Mainland Chinese are also making gains today, with the benchmark Shanghai Composite 0.6% higher, and the smaller cap Shenzhen Composite rising 1.5%. Over in Hong Kong the Hang Seng is adding 0.9%. South Korea’s Kospi is closed for Independence Day, and in Taiwan the Taiex is also closed for Peace Day. Southeast Asian markets are rising as well, with the Jakarta Composite in Indonesia advancing 0.8%, while the KLCI in Malaysia and Singapore’s Straits Times are each 0.3% higher.
When Will Tech Stop Falling?
2021-02-27 00:34UTC
2020 was a banner year for the tech sector as stocks all across the industry got bid up to sometimes insane valuations in a fear of missing out for investors. But 2020 is gone and now it’s 2021. And the changing calendar is also bringing with it a change in the markets as evidenced by the roughly 7% drop in the tech-heavy Nasdaq index over the past two weeks. Lately investors have been dumping their tech shares in fear of getting killed as the yield on U.S. 10-year Treasuries has jumped from 0.93% at the start of the year to 1.54% at the end of this week. And as rates keep rising the pressure on tech gets more intense. The problem is that in 2020 tech shares were rising based on their future earnings, but when rates are rising those future earnings will be worth less compared with today’s dollars. As a result growth isn’t valued as highly. Investors have recently been moving into more economically sensitive stocks like the energy complex, industrial stocks, healthcare names, and the financial sector shares. And the damage to tech likely isn’t finished yet. It will take some time for analysts to get around to recalculating the increased operating costs and financing costs caused by higher interest rates. Another things to consider for corporate profits in the coming quarters is the return of the travel and entertainment budget, which has been largely absent over the past year due to the COVID-19 pandemic. Until real fear begins to hit Wall Street the pain in the technology sector will likely drag on.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage

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