-
After an uncertain market open in the USA, indices are set to end the day with significant gains. The US500 is up 1.50% to 5330 points, the US100 increases by 1.60% to 18430 points, and the US2000 gains 1.30% to 2090 points.
-
Yesterday's panic sell-off among investors was calmed by comments from FOMC representatives and news about the continued optimistic outlook of institutional investors.
-
The VIX volatility index showed a sharp decline from around 37 points yesterday to levels below 24 points today. This index has risen since the beginning of the month from a level of 15 points.
-
Caterpillar stock rebounded after the publication of Q2 financial results. The company reported lower revenues but surprised with profit, leading to a 4% rebound. EPS was $5.99, which was 8% higher than expected, while sales amounted to $16.69 billion, slightly below expectations.
-
In the forex market, there is also a rebound after yesterday's sell-off. The dollar is gaining strongly, remaining one of the better-performing G10 currencies. The USD index, USDIDX, gained 0.40% to 102.8000 points. The Japanese yen remains the weakest currency, with the USDJPY pair rising to 145.2000.
-
Factory orders in Germany increased by 3.9% month-over-month, stronger than expected. However, this was still a decline of 15.2% on an annual basis.
-
The RBA keeps interest rates unchanged but sends a hawkish message to the market. The head of the central bank indicates that interest rate cuts are not currently being considered. The AUD is the strongest currency today relative to the strong dollar, gaining 0.7%.
-
Retail sales in the Eurozone were lower than expected. Annual data for June showed a decrease of -0.3% against a forecast of 0.2% and 0.5% previously (after revision).
-
In the cryptocurrency market, the rebound is even stronger than in the indices. Bitcoin gained 5.0% to $56700, which is already over 16% higher than yesterday's low around $48500. Ethereum gained slightly less, 3.65%, but the price returned above the $2500 level.
-
The dollar's strength may put pressure on attempts to rebound in the commodity market. WTI oil gained over 1% today before the publication of new EIA forecasts, now it is declining on a daily basis. EIA expects a price of $80 for WTI by the end of this year.
-
Gold falls below $2400 per ounce, but still shows significantly less volatility compared to other assets.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
