Global equities on Wall Street experienced a mixed session following the Thanksgiving holiday, heading for the most significant one-month rally since November 2020. MSCI's global shares index slightly eased but was still on track for an 8.5% monthly gain, fueled by growing investor confidence that U.S. interest rates...
EСB will struggle to soften euro for long time
2020-12-10 • Updated
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a new bullish outlook.
XAU/USD: Gold bulls return and send price above 61.8% retracement area.
US Market View
The U.S. will release its weekly numbers on jobless claims, at a time when Congress is still struggling to make any headway on a fiscal relief package – not least due disagreements over enhanced unemployment benefits. U.S. stocks are set for another flat opening, still in suspended animation as talks continue on Capitol Hill over a stimulus package. Boris Johnson and Ursula von der Leyen gave their negotiators another four days to bridge still-wide differences over key issues such as fishing rights, state aid and dispute resolution, after failing to make any visible headway in personal talks on Wednesday. The European Central Bank is expected to provide fresh monetary stimulus at its council meeting.
USA Key Point
- ECB Lagarde: The economy seen shrinking in Q4, with the services severely curbed
- US initial jobless claims comes at 853K vs 725K than estimate
- The AUD is the strongest and the GBP is the weakest
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
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As the US Non-Farm Payrolls (NFP) take center stage, this month's data gains special attention, particularly after the unemployment rate took a concerning turn in the previous month. The US ADP Employment Change reveals a significant decline, with the economy adding 298K new jobs...