Senior Research Analyst at FXTM
Caution
and unease are set to engulf financial markets ahead of one of the most
uncertain earnings seasons for years, as it is expected to offer a bitter
appetiser of the painful blow the coronavirus outbreak has dealt to US
corporations.
Extra-smart
Nigerians are getting shares of the new Lagos by acquiring plots, acres and
hectares of land at Ibeju Lekki . What are you waiting for? Click: http://www.tectono-business.com/2019/07/have-share-of-new-lagos-by-investing-in.html
Nevertheless,
investors remain somewhat hopeful that the pandemic may be peaking, and this
sentiment was reflected across Asian markets on Tuesday morning. The flicker of
optimism from Asia could lend support to European shares before earnings kick
off later in the day with JPMorgan Chase, Wells Fargo and Johnson & Johnson
reporting their numbers. Over the past few weeks, the negative impact of the
coronavirus on the global economy has fueled speculation around first-quarter
earnings disappointing forecasts. If expectations become reality, risk aversion
will most likely make an unwelcome return, ultimately exposing global stocks to
downside shocks.
Nigeria extends
lockdown for two weeks
Investors
who were banking on Oil prices to rebound after the world’s top energy
producers pulled off a historic deal to cut global petroleum output by nearly
10% have been left empty handed.
Have
you heard that Landwey is giving out plots of land at URBAN PRIME TWO ESTATE at
Abraham Adesanya Roundabout, Ajah, Lagos? You can get yours by clicking: http://www.tectono-business.com/2020/02/urban-prime-two-estate.html
WTI
Crude and Brent remain at severely depressed levels, both down over 50% despite
OPEC and its allies cutting production by a whopping 9.7 million barrels a day
starting in May. While this move by OPEC may create a floor for Oil, it is
certainly not enough to push the commodity higher. For as long as global
recession fears stimulate concerns around falling demand, oil weakness is
poised to remain a dominant theme which is bad news for emerging market energy
producers like Nigeria.
Africa’s
largest has also extended its lockdown by two weeks in Lagos, Abuja and Ogun.
While the social distancing and lockdowns may reduce the spread of the novel
coronavirus, it will come at the cost of economic growth. With the lockdown
hitting consumption which is roughly 70% of GDP, it will be difficult for
Nigeria to mirror the economic growth witnessed in 2019.
Have
you thought about having a 5-Bedroom Apartment with Penthouse and Indoor
Swimming Pool near Pan Atlantic University?
For details, click: http://www.tectono-business.com/2019/08/have-you-thought-about-having-5-bedroom.html
Is the Dollar’s
crown under threat?
The
Dollar weakened against a basket of major currencies on Tuesday as investors
braced for a challenging earnings season.
Buying
sentiment towards the Greenback will be tested this quarter as investors
evaluate corporate earnings and economic data from the United States, which has
been hit hard by the virus. Where the Greenback closes this week will most
likely be influenced not only by earnings, but also the latest retail sales and
unemployment claims data.
Wow!!!
Have you discovered where CEOs and top managers take their vehicles to for body
work, painting with Sikkens paint and oven baking? It’s GOF AUTOS LTD. For
details, click: http://www.tectono-business.com/2017/06/gof-autos-limited-best-automobile.html
If the
coronavirus outbreak has left prolonged cracks in the largest economy in the
world, the Dollar’s throne could be under threat with market players seeking
safety in the Japanese Yen or Swiss Franc. With regard to the technical
picture, the Dollar Index is under pressure on the daily charts with prices
heading towards 99.00. A breakdown below this level may open the doors towards
98.90 and 98.30.
Commodity
spotlight – Gold
Gold
has scaled levels above $1724 not seen in more than seven years, thanks to
Dollar weakness and global recession fears.
Are you aware that many
Nigerian exporters have been defrauded in the process of exporting their
products? To export successfully and get paid, click: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
The
precious metal remains in fashion, appreciating almost 13% since the start of
2020. Further gains may be on the cards this week if corporate earnings paint a
gloomy picture and the Dollar weakens on disappointing data. Looking at the
technical picture, prices could jump higher towards $1730 if a solid weekly
close above $1700 is achieved. Alternatively, sustained weakness below may pave
open the doors back towards $1675.
No comments:
Post a Comment