Asian
stocks have already closed on a mixed note this morning, with European markets
stabilizing ahead of the anticipated US GDP report this afternoon. Although the
gut-wrenching selloff in Facebook shares weighed on Wall Street yesterday, US
stocks could recover if US GDP data paints a positive picture of the US
economy.
The
trading week has undoubtedly been dominated by global trade developments and we
may see this theme roll over into next week. Now a trade truce has been secured
with the EU, will the United States be able to find a middle ground on trade
with China? This remains a recurrent question on the minds of many investors.
Dollar
appreciates ahead of US GDP
Dollar
bulls were injected with a renewed sense of confidence yesterday after positive
economic data boosted sentiment towards the US economy and reinforced rate hike
expectations. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
The
encouraging jobless claims figures and durable goods orders stimulated buying
sentiment towards the Dollar, consequently sending prices higher. With the
attraction for the Greenback rolling over into Friday’s trading session, the
Dollar Index has rallied towards the 94.90 level as of writing. Investors will
direct their attention towards the pending US Q2 GDP report which could shape
Fed rate hike expectations. A solid pickup in US economic growth during the
second quarter of 2018 could send the Dollar Index back above 95.00 and beyond.
Euro more
concerned with Dollar than ECB
The
Euro’s recent weakness has more to do with an appreciating Dollar rather than
the European Central Bank. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Market players hoping the ECB would create some fireworks were left
empty-handed after the central bank offered no surprises during July’s policy
meeting. As widely expected, interest rates were left unchanged, while the
central bank reiterated its pledge to end QE by the end of 2018. The highlight
of July’s meeting was when the ECB repeated that interest rates will be left on
hold until “at least through summer of 2019”.
The
divergence in monetary policy between the Federal Reserve and European Central
Bank is likely to keep a lid on the EURUSD in the medium to longer term.
Commodity
spotlight – Gold
It has
been another bearish trading week for Gold mostly due to a stabilizing US
Dollar. Easing trade tensions between the United States and European Union have
eroded appetite further for the precious metal with prices trading around $1218
as of writing. With the Dollar likely to remain buoyed by Fed hike
expectations, the outlook for Gold remains grim.
Much
attention will be directed towards the pending US GDP report this afternoon
which could deal Gold the knockout blow. A strong US GDP print may ultimately
strengthen the Dollar, inevitably translating into further downside for the
precious metal. In regards to the technical picture, a breakdown below $1213
could inspire a decline towards $1200.
Have you heard this? Many
Nigerian exporters have been defrauded of huge amount of money in the process
of exporting commodities to foreign countries. Do you know why? They were not
trained on export operations, management, documentations and the best methods
of payment in export trade. This is terrible!!! Nigerians cannot continue to
lose money to foreigners in the course of export business. Exporters, why don’t
you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
buyers. It teaches export operations, export management, export documentations
and methods of payment in export trade? It is a contemporary step-by-step guide
to export trade. It tells all the contemporary dynamics in export trade. To get
it, click on the link below:
No comments:
Post a Comment