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...
USD is the Strongest and the AUD is the Weakest Today
2020-10-15 • Updated
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
XAU/USD: Gold struggles to move above 23.6% level. The current risk off mood does not help gold to move higher.
US Market View
The number of Americans applying for initial unemployment benefits unexpectedly increased to 898,000 last week, its highest since late August, compounding fears that the recovery in the labor market is stalling. China saw annual factory gate prices fall at a faster-than-predicted pace, while consumer prices rose at their slowest pace in 19 months, highlighting the challenges facing the nation in its economic recovery from COVID-19.
US Key Point
- ADP Canada Sept employment comes at -240.8K vs -205K prior
- Mnuchin supports that Trump determined to get a stimulus deal
- Initial jobless claims come at 898K vs. 825K than estimate
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...